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ISRAEL AT WAR - DAY 345

Israeli Banks

Offices of Discount and Hapoalim banks in the center of Tel Aviv (Miriam Alster/ FLASH90)
February 14, 2024, 7:26 pm
After credit downgrade, Moody’s lowers deposit ratings of Israel’s five largest banks
Lower rating increases borrowing costs for banks, which in turn will likely be passed on to consumers and lead to higher lending rates
By Sharon Wrobel
Bank of Israel main offices in Jerusalem, on August 12, 2021. (Yonatan Sindel/Flash90)
November 6, 2023, 5:22 pm
Central bank launches plan for low-interest loans to help businesses survive war
Bank of Israel will provide banks with up to NIS 10 billion for two years so they can grant loans to war-affected small businesses at lower interest rates
By Sharon Wrobel
Finance Minister Bezalel Smotrich speaks at the Israel Democracy Institute (IDI) conference in Jerusalem, May 30, 2023. (Michal Fattal)
May 30, 2023, 7:54 pm
Smotrich seeks to tax banks’ fat profits from steady interest rate hikes
Bank of Israel head urges local banks to improve services by actively offering interest-bearing deposits to their customers; hints at further rate increases
By Sharon Wrobel
The Tel Aviv Stock Exchange, December 25, 2018. (Adam Shuldman/Flash90)
March 13, 2023, 6:05 pm
Israel shares drop, led by SVB fallout fears; analysts see less risk to local banks
Psagot Investment House and IBI Investment House see no fear of contagion to financial stability of Israeli banks; lenders have capital buffers to withstand times of turmoil
By Sharon Wrobel
An illustrative view of a Bank Hapoalim branch in central Jerusalem on July 27, 2022. (Yonatan Sindel/Flash90)
November 17, 2022, 4:06 pm
Mortgage lending continues to fall as housing costs, interest rates rise
Bank of Israel notes decline of over 30% in home loan borrowing over past three months as prices appear to constrain borrowing
By Danielle Nagler
Illustrative: Israelis at an ATM machine in Jerusalem on February 22, 2018. (Dario Sanchez/Flash90)
From the WebSeptember 27, 2021, 12:32 pm
Hassle-free switching between Israeli banks underway
Bank of Israel rolls out reform designed to enable customers to transfer accounts within 7 days, online and at no cost, Globes reports
Israel's proposed open banking reforms signal more services, better rates and digital infrastructure for customers. (Ipopba on iStock by Getty Images)
September 5, 2021, 4:57 pm
Israel’s fintech community readies for ‘dramatic’ changes in banking sector
Though banking giants are kicking and screaming about open-banking reforms, non-bank entities stand ready to offer services at competitive rates
By Ricky Ben-David
Police secure the area near a bank in Haifa where a woman threatened to detonate an explosive vest, on September 2, 2021. (Screenshot/Twitter)
September 2, 2021, 6:05 pm
Woman threatens to blow up bank wearing fake explosive vest; she works there
Reports say 31-year-old suspect, now in custody, is an employee of the Haifa bank she was trying to rob
By ToI Staff
A branch of Bank Leumi in central Jerusalem (Maxim Dinshtein/Flash90)
From the WebMay 27, 2021, 3:56 pm
Israel’s Bank Leumi bullish on further 2021 profits
Reuters: Israel’s largest lender posted a jump in net profit to NIS 1.34 billion ($413 million) in the first quarter as economy rebounds post-corona
Offices of Discount and Hapoalim banks in the center of Tel Aviv (Miriam Alster/ FLASH90)
From the WebMay 26, 2021, 3:08 pm
Israeli banks likely to resume dividends in 2021, regulator says
Reuters: Most Israeli lenders have reported increases in first-quarter profit due to the unwinding of the large loan-loss provisions they made in 2020 to cope with the crisis
Illustrative photo of a Bank Hapoalim branch on King George street, Jerusalem, November 15, 2013. (Meital Cohen/Flash90)
From the WebMay 13, 2021, 11:37 am
Israel’s Bank Hapoalim Q1 profit jumps on reversal of loan loss provision
Reuters: Israel’s largest lender posts a bigger-than-expected surge in quarterly profit, earning NIS 1.354 billion ($412 million) vs NIS 192 million in Q1 2020
Palo Alto Networks founder & CTO Nir Zuk (YouTube Screenshot)
May 3, 2021, 12:28 pm
Palo Alto Networks founder Nir Zuk reportedly to set up digital bank in Israel
Calcalist reports that Zuk and former Israeli securities regulator Shmuel Hauser will seek institutional investment for new bank and are eyeing a Bank of Israel license
By Shoshanna Solomon
A Bank Hapoalim cash machine. (Yonatan Sindel/Flash90)
May 2, 2021, 3:01 pm
US investment manager BlackRock says it holds 3% stake in Bank Hapoalim
Investor now considered a ‘significant stakeholder’ in the bank, according to Israeli regulation
By Shoshanna Solomon
Left to right: Amnon Shashua and Marius Nacht get a letter from Bank of Israel Governor Amir Yaron and Supervisor of Banks Hedva Ber, saying they will get a license to set up a digital bank in Israel (Courtesy)
March 14, 2021, 1:17 pm
New Israeli digital bank starts offering services to clients in pilot run
The First Digital Bank, the only new lender in over 40 years, hopes to compete with incumbents; services will be extended to wider public later this year
By Shoshanna Solomon
A Bank Hapoalim cash machine. (Yonatan Sindel/Flash90)
From the WebMarch 11, 2021, 9:49 am
Israel’s Bank Hapoalim moves fourth quarter profit, loan deferments sink
Reuters: Israel’s largest bank earned NIS 915 million ($267 million) in the October-December period, compared with a net loss of NIS 629 million in the fourth quarter of 2019
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