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Israeli banks

A woman takes out money from a Bank HaPoalim ATM machiine in Tel Aviv on December 9, 2024. (Miriam Alster/FLASH90)
May 6, 2026, 11:11 pm
Israel’s competition watchdog declares top 5 banks an oligopoly, targets deposits
Hapoalim, Leumi, Mizrahi Tefahot, Discount and First International control 98% of banking sector’s assets, competition watchdog says; critics denounce their huge profits, excessive fees
By Sharon Wrobel
The Tel Aviv Stock Exchange, November 29, 2020. (Miriam Alster/ Flash90/ File)
December 28, 2025, 8:34 pm
Tel Aviv shares break record highs in 2025 despite war, outpacing global markets
This year’s local rally outperformed gains in major global indexes, boosted by optimism over the removal of the Iranian threat and a ceasefire deal to end the two-year war in Gaza
By Sharon Wrobel
Finance Minister Bezalel Smotrich, seen after a press conference in Jerusalem, December 4, 2025. (Yonatan Sindel/Flash90)
December 25, 2025, 8:42 pm
Smotrich threatens banks with extra taxes if they go after customers’ benefits
Finance minister threatens to double proposed new tax on excess profits slapped on lenders’ excessive income to 30%; banking shares plunge
By Sharon Wrobel
Finance Ministry Bezalel Smotrich holds a press conference at the Finance Ministry in Jerusalem on November 4, 2025. (Yonatan Sindel/Flash90)
November 4, 2025, 7:34 pm
Unveiling 2026 budget, Smotrich fumes at excessive defense spending, mulls tax cuts
Finance Ministry officials criticize the Defense Ministry for inefficient spending practices at the expense of welfare and education; Smotrich seeks to impose a new tax on banks
By Sharon Wrobel
Illustrative: People walk by a Bank Hapoalim branch in Tel Aviv on March 25, 2025. (Miriam Alster/FLASH90)
August 25, 2025, 8:38 am
As banks pig out on profits, top economist urges tax to keep them from hogging wealth
After seeing plans aimed at boosting competition fall short, former Bank of Israel research head Michel Strawczynski says levy on lenders’ excessive income will ease wartime burden
By Sharon Wrobel
A branch of Bank Leumi in central Jerusalem (Maxim Dinshtein/Flash90)
March 30, 2025, 11:17 pm
Unbalanced: Banks offer minor benefits, with major catches, for war-harmed clients
Told to give back a fraction of their vast profits, Hapoalim offers $68 to students and reservists… if they have a deposit account or $8,000 balance, Leumi will defer payments on mortages below $27,000
By Sharon Wrobel
People withdraw money from a Bank Hapoalim ATM machine in Tel Aviv on December 9, 2024 (Miriam Alster/FLASH90)
March 5, 2025, 8:20 pm
Israeli banks rake in record profits as their war-battered customers drown in debt
Lack of competition, high interest rates and weak regulations have lenders notching record profits on the backs of households struggling to make ends meet during wartime
By Sharon Wrobel
Illustration: Israelis withdraw money from Bank Hapoalim cash machines. (Yonatan Sindel/Flash90)
January 14, 2025, 10:01 pm
More than a third of Israeli households spend more than they earn, as living costs rise
Around 2.5 million Israelis are overdrawing their accounts, struggling to make ends meet, while banks reap record profits from extending credit lines and charging high interest
By Sharon Wrobel
A picture shows closed shops in the southern city of Sderot near the Gaza border on January 8, 2024, amid continuing battles between Israel and the Hamas. (Alberto PIZZOLI/AFP)
December 31, 2024, 8:57 pm
2024 sees drop in number of small business owners, but ‘shockwave’ to come next year
50,000 small and medium-sized businesses closed and 46,000 new ones opened in 2024, the second consecutive year of net declines, according to data by Ultra Finance
By Sharon Wrobel
Bank of Israel Governor Amir Yaron speaks at a conference in Tel Aviv on November 27, 2024. (BOI spokesperson)
November 27, 2024, 5:08 pm
Bank of Israel head bashes banks for raking in hefty profits while shortchanging clients
Governor Yaron laments that deposits sitting in checking accounts often do not bear interest for holders, but are a cheap source of financing for lenders
By Sharon Wrobel
Anti-Israel activists join climate groups at a demonstration outside of the SEC Armadillo, the venue of the Annual General Meeting (AGM) of Barclays, in Glasgow on May 9, 2024. (Andy Buchanan/AFP)
November 5, 2024, 9:25 pm
Some European firms withdraw from Israel-linked finance amid pressure over Gaza war
Data shows direct investment into Israel fell by 29% in 2023 as credit rating agencies flagged war’s unpredictable impact on investment in the country
By Reuters
Ilustrative: 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
Bank of Israel Governor Amir Yaron speaks during a press conference at the Bank of Israel in Jerusalem, January 2, 2023. (Yonatan Sindel/Flash90)
June 27, 2023, 9:37 pm
Proposed bill a ‘serious blow’ to Bank of Israel’s independence, governor warns
Central bank head urges Netanyahu to withdraw legislation that would force banks to pay interest on current accounts; bill to be brought to Knesset vote on Wednesday
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
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