Banks news
Israel's business and economic news in English, from the country's financial press. Hebrew headlines are translated; every story links to the publisher.
Declines in Tel Aviv ease: banks weigh down, technology rises
The Tel Aviv stock exchange continues to decline, led by bank and financial stocks dragging the market down, while the technology sector and energy index gain. Kalal is considering an investment in Wilio Bais at a pre-money valuation of 600 million shekels, and Doral jumps on the back of massive server farm revenue guidance.
Globes (Hebrew, translated) · 4 hours ago · Kalal, Wilio Bais, Doral
Class action against banks approved: they did not pay interest on positive current account balances
A class action lawsuit has been approved against Bank Leumi, Mizrahi Tefahot, Discount Bank, and Bank Hapoalim for failing to pay interest on positive current account balances. The plaintiffs claim the banks acted in bad faith by not paying interest despite significant interest rate increases in the economy since April 2022, with alleged damages in the billions of shekels.
Globes (Hebrew, translated) · 4 hours ago · Bank Leumi, Mizrahi Tefahot, Discount Bank, Bank Hapoalim
Following the Competition Authority's decision to block a transaction, Hersh and Hamburger will pay 135 million shekels in compensation to Discount Bank and the remainder to Bank Leumi (International).
Globes (Hebrew, translated) · 6 hours ago · Hersh and Hamburger, Discount Bank, Bank Leumi, Kael