The bank's credit loss expense soared 365%, but it still posted a NIS 279 million quarterly profit.
Bank Leumi's provisions for the effects of the coronavirus pandemic fell entirely in the first quarter.
MUFG Innovation Partners has tripled its investment in Fundbox’s Series C round, bringing total equity funding in the round to almost $200 million.
With credit card transactions down, Max, formerly Leumi Card is also cutting salaries of management and the board of directors by 10% until the end of the year.
The collaboration with Isracard is an additional strategic milestone toward the establishment of the first independent digital bank in Israel.
SaverOne's solution prevents drivers from being distracted by mobile telephones, a major cause of road accidents.
The loss is due to credit loss provisions due to the coronavirus pandemic.
Start-Up Nation Central CEO Eugene Kandel warns Israel's tech ecosystem won't recover from the crisis without Israeli institutional investors.