FINANCIAL SERVICES

The Capital Markets, Insurance and Savings Authority proposes to make insurance companies maintain discounts offered to attract customers over the whole policy period.

Annualized RoE was 16% in the quarter. The bank has declared a NIS 714 million dividend.

KBW analyst Sanjay Sakhrani raised his rating to “Outperform” and sees upside of 48%.

Bank Leumi's first quarter profit was NIS 2.83 billion, 8.5% higher than in the corresponding quarter despite the bank surtax.

The bank's annualized return on equity was 15%, and would have been higher were it not for the special tax on bank profits.

"Globes" has learned that the Bank of Israel is now proposing to allow banks to publish financial statements according to US accounting principles.

The company has raised $115 million to date from venture capital funds and investors and has 400 employees.

Bank credit to businesses is rising at a record rate, but instead of fueling economic growth, it's keeping real estate companies afloat.

A consortium of banks is providing NIS 10 billion for the Nofit project linking Haifa, Nof Hagalil, and Nazareth.

Affinity Partners sold the shares to US financial institutions. It remains the largest shareholder in the insurance company and declares that it is a committed long-term investor.

Discount Bank and Bank Hapoalim are demanding that the government should replace them in providing correspondent bank services, amid growing fears of involvement in terror financing.

Middle managers at the bank allege that they are being pushed to accept voluntary retirement, while senior management bonuses soar.

At the same time there was record mortgage taking for homes worth over NIS 5m, suggesting that foreign residents are buying expensive homes.

Why did the Isracard-Esh Bank deal collapse? Market sources offer various reasons, some saying the sides were very close to agreement.

Isracard said that the MOU signed with Esh Bank had expired without a final agreement and would not be extended.

Israel Discount Bank board of directors has decided to examine the merger of its subsidiary Mercantile Discount Bank into it.

The Finance Ministry seems to have taken alarm at the success of investment provident funds and the capital gains tax exemption.

Institutions and regulators need a change of mindset to enable Israel to flex its financial muscle for diplomatic gain, argues Lior Prosor.

Under the Arbitrage Committee's recommendations, the tax benefit on the funds, which can be very high, will be shared among several savings instruments.

The State Comptroller compares the state of the housing loans market to the subprime crisis in the US. Bank of Israel: The report is unprofessional and methodologically wrong.

Israel’s biggest banks have already handed out almost two-thirds of the NIS 3 billion they committed to transfer to the public through benefits, within two years.

As part of the reform, which will come into effect in stages between October 2026 and July 2027, the public will pay up to NIS 10 monthly for 100 monthly transactions on the checking account.

Many of the bank’s customers received an unexpected text message today informing them that the bank will deposit a NIS 700 in their current banking accounts.

In many cases, the anchor rate for a mortgage loan is the yield on a government bond.

The Canadian fintech company is paying a 9.6% premium on Payoneer’s share price on Nasdaq.

After El Al frequently flyer club’s Fly Card switched to Isracard, ICC CAL has invited cardholders to ‘upgrade’ to its new FlyAll card.

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 insurer, which operates in 22 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.