FINANCIAL SERVICES

Planck’s team will set up an Israel development center for Applied Systems to further develop AI products for cloud-based insurance software.

Among the buyers of stakes in Phoenix are Jared Kushnir's Affinity Partners and Yitzhak Tshuva.

Affinity Partners, led by Donald Trump's son-in-law Jared Kushner, is in talks to buy a 4.9% in Israeli insurance and finance Group the Phoenix Holdings, with an option to buy an additional 4.9%.

Mortgage taking last month fell slightly from May but was 18% higher than June 2023, the Bank of Israel reports.

The bill will change the existing situation in which any institutional body wanting to acquire a credit card company can only do so from a third party.

The two sides have signed a "significant private placement agreement," which could see AmTrust's stake in WeSure reach 15%.

Leumi sees a decrease in the bank's net profit of about NIS 550 million in the second quarter as a result of the write-down.

The estimated fee of 1% will be paid by customers involved in transfers averaging over NIS 2,080 per month including paying and receiving money.

Antebi, currently head of Financial Markets and International Banking at the bank, will replace the outgoing Dov Kotler.

Pensioners with no access to their money are suffering financially and mentally, and receiving scant attention from politicians.

Bank Leumi Mortgage Division head Uri Yonissi told the Globes Talking North Conference that there is a boom in interest from potential immigrants.

The new rules are intended to make comparison between fund managers easier, and to limit exposure to single indices such as Nasdaq.

Those being dismissed in Israewl will be replaced by teams in Eastern Europe, South Africa, and elsewhere where labor is cheaper.

Discount Bank is paying NIS 77 million for Shufersal's 49.9% stake in the payments app, which it sees as a strategic asset.

Mortgage taking rose to NIS 7.8 billion in May 2024, according to initial figures released by the Bank of Israel today - the highest figure since September 2022.

The investment house is acquiring 80% of CrediTeam for NIS 27 million.

The price for Shufersal's 49.9% holding in the payments app is NIS 77 million. Discount Bank sees the buyout as a strategic move to enlarge its customer base.

The Israeli unmanned ground vehicles company, which develops and manufactures robots for military and security missions, is valued at $40 million.

The Israeli credit card company, operating without a controlling core, is attracting attention from the Delek Group controlling shareholder, sources inform "Globes."

The Israeli fintech company is laying off over 100 employees in Israel and the US.

This follows Bill Ackman's decision over the weekend to sell 10% of Pershing Square to various institutions and investors for $1 billion.

Mimes Strategies Hedge Fund founders Eran Kimchi and Alon Hadad predict "a crazy boom" in Israel once the war is over.

Buy now, pay later offers are proliferating: "People aren't really buying an apartment, but an option on an apartment."

Bank Leumi posted a NIS 2.8 billion net profit for the first quarter, three times its profit in the corresponding quarter when it wrote down its stake in National Valley Bank.

The diversion of investments abroad by the institutions that manage Israelis' pensions and savings has accelerated in the past couple of years.

The bank's credit portfolio grew by 6% in comparison with the first quarter of 2023, but financing income fell.

A year after stepping down as CEO of First International Bank, Barber-Tsadik is in talks on becoming CEO of its parent company FIBI Holdings.

The high dividend was agreed with the Bank of Israel, despite the regulator's instruction to the banks to consider more conservative dividends.

Prof. Avia Spivak: Raise taxes and the retirement age, and there will be no problem.

Israel's banks generally distribute 40% of their quarterly profits, but are again expected to cut this by half.