Bank Hapoalim (TASE: POLI) has the lowest bank fees of Israel's five banks, according to the semiannual report on bank household services and fees that Supervisor of Banks David Zaken today submitted to the Knesset Economic Affairs Committee. Israel Discount Bank (TASE: DSCT) is the most expensive bank. Bank Hapoalim's fees are NIS 12.10 per month, and Discount Bank's fees are NIS 16.70 a month.
In the first half of 2012, the average actual monthly expenditure by households on checking account services was NIS 14, 4.7% less in nominal terms than in 2011, and 5.9% less in real terms. The average monthly cost of a household checking account was NIS 14.50, 2.4% less in nominal terms than in 2011, and 3.6% less in real terms.
Among the small banks, all subsidiaries of the big banks, First International Bank of Israel (TASE: FTIN) subsidiary Bank Yahav for Government Employees Ltd. is the cheapest bank, with a monthly cost of NIS 6.30, and Bank Leumi subsidiary Arab Israeli Bank and Discount Bank subsidiary Mercantile Discount Bank are the most expensive, at NIS 19.90 per month and NIS 21.80 per month.
Among the small banks, Bank Yahav has the lowest average monthly expense for a checking account at NIS 2.80 per month, and Poalei Agudat Israel Bank, also a subsidiary of First International Bank, is the most expensive, at NIS 28.30 per month.
Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2013
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