FINANCIAL SERVICES

For customers making US dollar purchases or withdrawals, the bank will keep the rate at NIS 2.89/$ even if it rises higher on the market.

JP Morgan has been asked to find a buyer for the Israeli investment house. Meitav founder Zvi Stepak: The Stepak family has no intention of selling its shares.

The real estate insurers, which operates in 20 US states, specializes in apartment buildings and condo associations.

As Israelis rush to buy ‘cheap’ foreign currency, many local moneychangers have no dollar and euro banknotes to sell.

A study by Phoenix Financial finds that lower interest rates will not be enough to make a home purchase attainable for the average Israeli household.

The move is designed to curb the monopoly of the banks in credit to small and midsize businesses and boost competition.

As with the other banks, Mizrahi Tefahot's profit was hit by the special bank surtax.

Excluding the bank surtax, Bank Leumi's annualized return on equity in the first quarter was 15.1%

The bank will distribute a dividend of NIS 465 million - 50% of net profit.

The bank reported net profit of NIS 2.1 billion in the first quarter of 2026, 13% down from the first quarter of 2025, due to the new tax and the lower interest rate and inflation environment.

Israel’s banks are preparing for a sharp interest rate cut by the Bank of Israel in the near future.

The switch to Monday-Friday trading and repatriation of investments by the Israeli public significantly boosted activity.

Despite the holidays last month and the war, NIS 7.94 billion in mortgages was taken.

Treasury officials and the Bank of Israel have fiercely criticized the plan to compensate borrowers for the rise in interest rates, but Minister of Finance Bezalel Smotrich has been silent so far.

As the value of their financial portfolios rises, Israelis are adopting new investment habits.

After Isracard hijacked El Al’s FlyCard from ICC-CAL, rivals are eager to team with the Hungarian low-cost carrier on a loyalty club credit card.

Measures to curtail bonuses and downsize at Bank Hapoalim, Discount Bank and First International are meeting resistance.

The insurance company's share price has risen 240% in the past year.

Cybersecurity tycoon Nir Zuk plans transforming Liberty Bank into a bank based on the AI tools he developed at Esh Bank in Israel.

Investors left in the market apparently see home price rises resuming, and are taking advantage of developers' special offers.

Credit card company ICC-Cal has written to the CEO of El Al's Matmid frequent flyer program alleging violations of their agreement.

This is a dramatic move because estimates are that Fly Card represents one third of ICC CAL’s activity.

Israel’s banks have agreed a compromise that will see Minister of Finance Bezalel Smotrich abandon legislation for a tax on excess bank profits.

The move will pave the way for Isracard, controlled by Yitzhak Tshuva’s Delek Group, to become a major banking player.

While small banks and non-bank credit providers are warning of higher risks, the major banks appear unconcerned.

The bank ended 2025 with a return on equity of 15.9% compared with 13.8% in 2024.

In the fourth quarter, Leumi's net profit was NIS 2.5 billion, up 4% from the corresponding quarter.

In the fourth quarter itself, the bank showed stronger growth in net profit of 7.5%, which amounted to NIS 1.4 billion.

Mortgages are also being increased for homebuyers, but under strict equity conditions, and without allowing the loan to be spread over more than 30 years.

Psagot Investment House has been appointed as the operational representative for the foreign funds of investment giant BlackRock in Israel.