FINANCIAL SERVICES

As a small player in the insurance market, Ayalon might be able to obtain Competition Authority approval for taking over the credit card company.

The Lod District Court has ruled that a lawsuit against four banks for failure to pay interest on current accounts can proceed as a class action.

The Cyprus Stock Exchange is undergoing privatization, and the Tel Aviv Stock Exchange is looking for opportunities to expand.

BridgeWise, which has raised $35 million, works with banks and financial institutions, and also collaborates with Elon Musk's X.

Capitolis was founded by Israeli serial entrepreneur Gil Mandelzis and has a development center in Tel Aviv.

Foreign secretary Ed Miliband speaks of sanctions on any entity providing services for expansion of settlements beyond the Green Line, which could be a huge problem for Israel's banks.

The acquisition from Parthenon Capital, which will also invest in Capitolis, will add securities lending to the company’s platform.

The company has developed a digital banking platform for small businesses across the US.

Israel Discount Bank will receive NIS 135 million in compensation for its 72% stake in Cal for the cancellation and First International Bank will receive NIS 52 million for its 28% stake.

According to the Central Bureau of Statistics, the average price of vehicle insurance dropped by 8% in August alone.

Negotiations on an acquisition at a NIS 600 million valuation are at an initial stage.

The Israeli Competition Authority has ordered the Horesh family’s Union Investments to sell Super-Pharm if it wants to proceed with the deal.

Sigma City specializes in mezzanine finance for residential real estate projects, and will represent expansion of Direct Finance's real estate acitivity.

The public company is the provident and pension fund arm of privately-held investment house Altshuler Shaham. Its business has been in decline for some time.

Gilad Altshuler and the Shaham family hold 55% of Altshuler Shaham Finance’s shares, which have fallen by 60% in recent years.

After a year, the Competition Authority has still not approved the existing deal for the sale of the credit card company.

Harel Insurance Investments and Financial Services has reported a 30% rise in profit in the second quarter to NIS 1 billion.

Despite the slowdown in Israel's housing market, the rate of mortgage loan taking has not fallen.

Phoenix Financial, the largest insurance company in Israel, posted a 48% rise in profit on asset management in the second quarter.

In an embarrassing setback for Israel, Luxembourg will no longer approve issuing Israel Bonds, and it remains unclear if Israel will be able to continue issuing them in the EU.

The move follows a request from the Bank of Israel, which asked the two banks to continue providing financial services to prevent an economic upheaval.

At-Bay operates an insurtech cybersecurity development center in Israel and markets cybersecurity and data security insurance products in the US.

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.