Bank commissions rose in real terms in the first half of 1998.
Discount Bank continues to be the least expensive bank, while Bank Leumi remains the most expensive, in commissions customers pay for bank services. This emerges from comparative data published today by the Bank of Israel on developments in the general commissions index of the five major banks during the first half of the year.
The data shows that the general commissions index at the Discount Bank was the lowest during the reviewed period, starting during the first half of ’95 and up to June this year.
During the past two and a half years, the general commissions index at Bank Leumi dropped 4.1% in real terms, the largest reduction rate among the five major banks. The index at United Mizrahi Bank declined at a slighter rate - only 1.8%. According to the figures, the fees index at all the five major banks fell an average 1.3% during the reviewed period. The decrease occurred against the backdrop of accelerated competition among the banks, and an improvement in the Bank of Israel’s transmission of information regarding the banks’ commissions and charges.
Published by Israel's Business Arena July 19, 1998