FINANCIAL SERVICES

The decline in profits stemmed from an increase in credit loss expenses - the security cushion set aside by banks to protect them from unpaid loans.

The layoffs are mainly among US sales staff, while the company is doubling its development team in Tel Aviv.

After rising 1,000% in two weeks to become Israel's most valuable company, the Israeli fintech's share price has started to fall.

According to the lock-up mechanism, Pagaya insiders could be able to sell shares within a couple of months.

The fintech company has overtaken Check Point to become Israel's second most valuable company, after its share price skyrocketed 900% in two weeks.

The Israeli insurtech company has completed the acquisition of the US vehicle insurtech company for $145 million in stock.

The 700% rise in the share price of fintech company Pagaya over the past week has made Gal Krubiner, Yahav Yulzari, and Avital Pardo into billionaires, on paper at least.

The fintech company has now shot past ICL and NICE Systems to become Israel's third most valuable company.

The Israeli company has helped centuries-old industries come online including lumber, chemicals, steel, retail and food.

The total of new home loans taken in Israel in June was NIS 11.9 billion, the Bank of Israel reports, up from NIS 11.6 billion in June 2021, the Bank of Israel reports.

The Israeli fintech company's share price closed at $11.70 on Friday, giving a market cap of $7.7 billion.

Yesterday's massive rise came after the share lost most of its value in its first month of trading.

The Former Minister of Finance is not suspected of any theft but of failure to report as chairman and concealing the alleged crimes.

Since merging with SPACs, several autotech companies have seen their valuations plunge, and one, Otonomo, could be in danger of being delisted.

The largest Israeli-founded company operating in the decentralized finance sector is seeking Chapter 11 protection from its 100,000 creditors.

The Israeli company, which sells online insurance to small businesses, is laying off 17% of its workforce, including 40 employees in Israel.

Insurtech company WeSure Global Tech bought 67% of Ayalon Holdings for NIS 447.6 million.

The Israeli fintech company, which began trading on Nasdaq after its SPAC merger at a company valuation of $8.5 billion, is now worth only $2.8 billion.

Akirov's Alrov Properties and Lodgings bought shares to the tune of NIS 100 million in the bank's offering last week.

The Israeli businessman holds 2.1% of the bank's equity after it raised NIS 2.75 billion in new shares last night.

Deel has bid $1 per share, a 174% premium on PayGroup's closing price on the Australian stock exchange.

Despite the market turmoil, the Israeli fintech company debuts on Nasdaq today, without having cut its valuation.

The Israeli bank's share issue will support rising demand for loans in the commercial, business and mortgage sectors.

Based in Ghana, the company provides financial services in regions that lack basic banking services.

Last week SPAC company EJFA's share price fell 40% on the day before shareholders approved proceeding with the merger.

From today non-banking credit companies in Israel can receive information from banks and credit card companies as part of the open banking reform.

Mortgage lending totaled NIS 12 billion last month, the Bank of Israel reports, the second highest amount of mortgages taken this year, only beaten by the all-time record high of NIS 13.4 billion in March.

The Israeli-US company has announced that it is suspending all withdrawals, swaps and transfers from the accounts of its investors.

Hippo president Rick McCathron has taken over from co-founder Assaf Wand, who becomes executive chairperson.

Analysis by the Bank of Israel finds that loan-to-value and payment-to-income were at peak levels for mortgages taken in April.