Banking Sector

The board of directors of the First International Bank has approved the merger of its technological subsidiary into the parent organization. The move is intended to streamline resources, strengthen digital innovation, and simplify the group's organizational structure.

At the peak of the reporting season, foreign investors poured hundreds of millions of shekels into the banking sector on the Tel Aviv Stock Exchange. We analyze what in the reports justified this rush and how it affects your long-term savings.

A senior analyst at Wells Fargo estimates: JPMorgan is on its way to becoming the first bank in history with a market cap of $1 trillion — and could reach $2 trillion within 8 years. Wells Fargo raised the target price to $390 with an 'Overweight' rating, against the backdrop of record profits and a 21% surge in the stock.

Despite the impact of interest rates and a special bank tax, the bank concludes the first half of 2026 with a net profit of 218.3 million shekels and a surge in public credit.

Aggressive competition between credit card companies, driven by the battle for the FLY CARD franchise, has led to significant marketing expenses. Isracard and Cal report growth in credit portfolios amid leadership changes.

The bank recorded an 8% profit growth compared to the same quarter last year. Excluding the special bank tax, net profit would have risen by 4% to 1.3 billion shekels. The board of directors approved a dividend distribution of 40% of second-quarter profits.

Mercantile Bank, a subsidiary of Discount Bank, published its second-quarter reports with a profit of 205 million shekels and a return on equity that eroded to 12.8%. The board of directors approved a dividend of 50% of the profit — what does this mean for Discount, which is currently examining the possibility of merging Mercantile into it?

A mostly green week on the Tel Aviv Stock Exchange, with two major developments: the fourth-largest bank on the exchange entered the list of the ten largest companies, replacing a chip manufacturer that reported its results. Meanwhile, the largest company on the exchange jumped nearly 9% and is approaching a market value of one trillion shekels.

Jeen Technologies (Jeen.ai) reports its first deal with the Israeli banking system, valued at approximately 12 million shekels.

Globes has learned that the Supervisor of Banks has distributed a draft circular allowing banks to apply American accounting standards. This move facilitates dual listing, aims to increase liquidity, and may boost stock performance.

The research unit of the Tel Aviv Stock Exchange summarizes July, which closed with gains led by the banking sector, while market capitalization reached a record high of over 3 trillion shekels.

The Competition Authority has requested correspondence from bank chairmen regarding their intention to replace Association of Banks CEO Eitan Madmon, as reported by Globes last week.