FINANCIAL SERVICES

The bank will charge fees for customers who receive more than NIS 25,000 in a calendar year.

An internal directive recently issued by the bank sets that in a contractor deal, a payment of 20% equity from the customer will now be required, and that the contractor's balloon loan will be limited to up to 40%.

The Bank of Israel held a meeting yesterday to explain to financial service companies how to ward off the planned cyberattack by Iran's Anonymous for Justice group.

Alternative investments manager Hamilton Lane co-CEO Juan Delgado says Israel’s lower valuation environment provides ideal investment opportunities.

Menora Mivtachim will be allocated 33% of the credit card company's shares at a company valuation of NIS 3.15 billion.

The airline says it has abandoned the plan due to the short time schedule set by Isracard for any deal.

The fault apparently lay in the connection of a foreign clearer to the Israeli payments system. A cyber attack is not currently suspected.

Recommendations by the Supervisor of Banks to allow more banking competition would grant even more business to Israel's already powerful insurance companies.

The Israeli airline is offering to buy a 45% stake in the credit card company at a valuation of NIS 3.1 billion.

Within three years, the proportion of Israelis' long-term savings invested in the US index has grown from 1% to 8%.

The new offer values credit company Isracard at NIS 3.1 billion, less than the valuation in Menora Mivtachim's first offer a year ago.

Jonathon Orr, Managing Director for client portfolio management across international wealth at Apollo told the Globes Alternative Investments Conference that private investments are a profitable alternative to money funds.

Veronique Fournier, a senior manager at Apollo Asset Management tells "Globes" how it became one of the world's biggest investment firms.

Phoenix chief investment officer Hagai Schreiber told the Globes Alternative Investment Conference about the advantages of private assets.

Zim paid NIS 405 million for his 65.7% stake in 2021. Former Psagot CEO Yaniv Bender will pay NIS 40 million in cash on the completion of the deal.

US based businessman Beny Alagem and a group of large retailers are considering buying a controlling stake in the credit card company.

The public’s pension and long-term saving assets reached NIS 2.5 trillion at the end of last year, according to the Capital Markets, Insurance and Savings Authority's report.

In its first public comment on the proposal, the central bank says "no sufficiently well-founded professional justification has been presented."

Digital insurance company WeSure is offering to invest in the credit card company for a 30% holding.

With the public's attention focused on the war, now is not seen as a good time for the launch of a new consumer brand.

Homebuyers took mortgages totaling NIS 8.4 billion in August, the Bank of Israel reports.

The company is also laying off 20 employees, because of the war and the consequent economic uncertainty.

The Israeli insurance and finance firm is offering to buy a 32% controlling core in the credit card company.

Adv. Ephraim and Odelia Shpitalni own 60% of Gamla Harel, which Harel Insurance has offered to buy at a NIS 560 million valuation.

Singapore-based Prytek is buying 40% of TipRanks at a valuation of $200 million, bringing its total stake to 80%.

Israel's fourth largest bank posted a drop of 12.6% in its second quarter profit, in comparison with the second quarter of 2023, to NIS 1.04 billion.

Mizrahi Tefahot Bank's annualized return on equity for the second quarter was 19.9%.

In the first seven months of 2024, mortgages worth NIS 45 billion were taken, 4% more than in the corresponding period of 2023, although 40% down on the first seven months of 2022.

Bank Leumi wrote NIS 600 million off its 14% stake in Valley National Bank. Excluding that, its annualized ROE was 20.2%.

In the last financials to be signed by outgoing CEO Dov Kotler, the bank posted a NIS 2.2 billion profit for the second quarter, 15.7% up on the corresponding quarter.