Financial

The Ministry of Finance will assist in a particularly limited program with the exception of the self-employed who were partially injured as a result of the spread of the Omicron strain in the past two months. The pressure of small and medium-sized self employed businesses did not seem to help. Finance Minister Avigdor Lieberman announced in the Knesset that the outline formulated by the Ministry of Finance to assist small and medium-sized businesses up to a turnover of NIS 60 million per year will be limited and will include maximum assistance of NIS 600,000 only for businesses damaged by...

The Israeli fintech company Credorax - which recently changed its name to Finaro - is being sold to the American payment and clearing giant Shift4 for $ 575 million. Cardorex is a clearing company that focuses on international transactions. It was founded in 2007 by Bnei Nachman, currently the company's chairman, Eugene Volkov and Michael Feinstein. It is estimated that the company is expected to end the current year with a clearing of $ 15 billion. Cardorex has raised $ 155.6 million so far, according to startup Nation Central, and its most recent round of funding was in 2016. The...

In 2021, the average wage in the economy was NIS 11,773. An increase of 2.3% compared to the same period last year and an increase of 9.2% compared to 2019 before the outbreak of the corona crisis. On the other hand, in the high-tech field, the average salary was NIS 26,494 - 2.25 times, according to data from the Central Bureau of Statistics published on Thursday. In December, the average wage in the economy was NIS 12,142, an increase of 7% compared to the previous month. This concludes a year with great volatility in the average wage resulting from changes in the labor market following...

The International Bank concludes 2021 with a profit of NIS 1.4 billion, a jump of almost twice that of the profit in 2020, which amounted to NIS 750 million. The return on capital amounts to 14.7% in 2021 compared to 8.6% in 2020. The Bank's revenues amounted to NIS 3.15 billion in 2021, compared with NIS 2.9 billion in 2020. Net interest income amounted to NIS 2.8 billion, compared with NIS 2.6 billion. International's revenue from interest amounted to NIS 1.44 billion, compared with NIS 1.37 billion in 2020, an increase of 5.3%. The fees charged by the bank last year amounted to NIS...

Bank Leumi's net profit amounted to NIS 6 billion in 2021, a record profit for the bank, the highest in the sector and almost three times the net profit in 2020, which stood at NIS 2.1 billion (an increase of 285%). The profit reflected a return on equity of 15%, compared to a return on equity of 5.7% in 2020. At the end of the fourth quarter, Leumi earned NIS 1.5 billion, an increase of 67% compared to NIS 900 million in the corresponding quarter. Leumi's annual profit line is higher than NIS 1 billion than that of its major competitor, Bank Hapoalim, which reported an annual profit of...

ZIM sums up a tremendous year: The sharp rise in global transportation prices jumped the profit of the transportation shipping company by 787% to $ 4.65 billion in 2021, compared to $ 524 million in 2020. Zim is controlled by Idan Ofer's Canon holding company - the company ended the fourth quarter with a net profit of $ 1.71 billion, compared to only $ 366 million in the corresponding quarter - an increase of 366%

Israel Post today (Monday) approved the financial statements for 2021, against the background of the advanced negotiations for a recovery plan with the Workers' Committee. The reports show that the company is facing a loss of no less than NIS 175 million, after the company recorded a huge loss of NIS 643 million in 2020, 383 of which were set aside for expenses for retirement

Rafael announces its financial results for 2021, as approved at the company's board meeting, with sales of NIS 9.931 billion ($ 3.075 billion) and a net profit of NIS 431 million. For the first time, the company consolidated the reports of its subsidiaries Aeronatics and Controp. At the end of the 2021 work year, Rafael CEO Yoav Har-Even said: "2021 was a very successful year in all areas of the company's operations, which were also reflected in the impressive financial results despite objective challenging parameters, such as the continued effects of the corona plague on the economy

The average wage in the economy per Israeli worker was NIS 11,784 per month in January 2022, a decrease compared to the previous month when the average wage was NIS 12,142. This is according to data published by the Central Bureau of Statistics (CBS). In the high-tech industry, the average wage continues to be much higher than in the entire economy and even rose close to NIS 1,000 compared with December 2021 to NIS 27,310 (December 26,494). The salaries of the programmers in the field reached NIS 29,558 and of the workers in the field of scientific research and development NIS 29,481

Clal Holdings announced to the stock exchange on Sunday evening the purchase of the MAX credit card company from the controlling owner, the Warburg Pincus Fund, for NIS 2.47 billion. The parties have already signed the memorandum of understanding in preparation for due diligence, and in the end they are expected to sign the agreement. To the extent that the transaction is completed, Warburg Pincus will exit Max three years after acquiring control of it at a value of NIS 2.5 billion from Bank Leumi as part of the adoption of the recommendations of the Strum Committee, which stipulated that...