Top List of Banks in Israel
Banks in increase has had an increase over the years. Going from 6 banks to 23 at present, there has also been an increase in account usage, as more customers switch to banking online, with the number of transactions per account also doubling.
These banks are more than just a place to deposit money and obtain credit lines. They represent a path to independence for many Israelis. Although banking regulations in Israel require that all banking institutions be privately held, the function of banks has become progressively more controlled by the state over time, affecting the growth and development of banks in Israel. However, with all these uncertainties, there have been some banks that have been showing commendable growth over the year, let's take a lot at each of them,
Bank Hapoalim
Bank Hapoalim provides a range of banking services and products designed for individuals and businesses, including personal, commercial, and corporate accounts; credit cards with Bank Hapoalim custom benefits provided along with the Visa and MasterCard networks' global benefits; various investment, asset management, and pension funds; treasury services such as foreign currency trading and risk management.
It offers banking services to private and business clients, including credit cards, loans, mortgages on cars and homes, foreign currency trading, and investments. The bank also manages personal pension accounts or pensions for employees in businesses.
The bank manages 169 branches across Israel, With more than 650 ATMs globally.
The total asset for the bank is NIS 554.4 billion (USD 169.45 billion)
Bank Leumi
Bank Leumi was founded in 1902 and is headquartered in Tel Aviv. The bank operates in more than 21 countries. Its services cover around 2.5 million customers in Israel and provide a full range of banking services, including its largest network of branches and ATMs. Complete branch services are offered at 76 branches and offices located throughout Israel. Bank Leumi provides both individuals and businesses with advanced, reliable, and professional services.
It reported an asset possession of NIS 556.03 billion (USD 169.95 billion) as of 2020
Israel Discount Bank
Israel Discount Bank is one of Israel's five largest banks and offers a wide array of financial products and services to the consumer, corporate, commercial, and institutional banking markets. It was founded in 1935 by the late David Ben Gurion, Israel's first prime minister, and has since been listed on the Tel Aviv Stock Exchange since 1982. With $52.6 billion in total assets, it offers an extensive network of branches and an international network of offices in strategic financial centers worldwide.
It mainly deals with credit cards, banking, and savings products to businesses and consumers throughout the country. It has approximately 260 branches with over 8000 employees on the payroll. Its total assets as of 2020 stand at NIS 306.1 billion (USD 93.56 billion)
Bank Mizrahi-Tefahot
Mizrahi-Tefahot Ltd. is a commercial bank. The bank offers business and personal banking services, including credit cards, current accounts, deposits, and investment products for the general and business public savings accounts, mortgages, credit cards, foreign currency exchange, and special conditions for merchants. It is one of Israel's largest banking groups, measured by total assets. The bank aims to be a leading and efficient banking group in Israel, providing universal banking services and offering an optimal array of financial products to its customers.
There are 232 branches across the country with several ATMs. the bank's total assets are NIS 370,3 billion (USD113.21 billion)
First International Bank of Israel
FIBI provides personal and business banking services for consumers and corporations. It offers deposits, personal loans, mortgages, international banking and treasury services, wealth management solutions, brokerage services, corporate finance, credit cards, and leasing services.
The company also provides securities trading services in various stock exchanges through its subsidiary; bond trading services, real estate brokerage services, trade financing solutions; project financing; factoring. And short-term securitized lending through its subsidiaries. Its total assets are about NIS 172.47 billion (USD 52.71 billion)
Mercantile Discount Bank
Mercantile Discount Bank is a commercial bank in Israel headquartered in Tel Aviv with 80 branches spread across the country. The bank provides a full range of banking services to its customers, including international banking and finance, personal banking, small business banking, investment services, and asset management. The bank was established in 1971 as a development bank for small-to-medium businesses and entrepreneurs. As of 2016, the bank's total assets were NIS 32.54 billion ( USD 9.98 billion).
Bank Otsar Ha-Hayal
Bank Otsar Ha-Hayal Ltd is an Israel-based company traded as The Bank of the IDF. It is an Israeli bank that provides payment, savings, credit, and fund management services for those who are in the Israeli defense force and retired soldiers. The Company's range of services includes savings and deposit accounts, debit-credit cards, loans for housing purchases, small businesses, industry and agriculture, capital markets, insurance, and more.
This bank was opened to the bank in 1972 and acquired by the bank of Hapoalim. It came to be a full commercial bank later in the year 1996. Its total assets stand at NIS 90 billion (USD 27.51billion) as of 2017
Bank Yahav For Government Employees Ltd
Bank Yahav is a private bank for employees and retirees of the Israel Government and their families. Since it was founded, it has since grown to become one of Israel's leading banks, with several branches and ATMs across Israel. Its current asset is at NIS 120 billion.
Bank of Jerusalem
Bank of Jerusalem, established in 1948, is the first Israeli bank to succeed and stand up to international banks. Management advisory services and expertise create a world of opportunities for you with one click away!. One of Israel's largest independent financial groups is controlled by the Porush family. The group provides banking, investment, and insurance services. It has an asset worth NIS 14.9 million (USD 4.4 million)
Bank Massad
Bank Massad provides a wide range of banking services for the general public, small businesses, large companies, and public entities throughout Israel. The bank offers all of its customers a wide array of products and services, including various unique investment opportunities, payments and financing, pension savings plans, and more. Bank Massad is considered one of the leading banks in the field of accessibility for disabled customers.it has assets of worth NIS 3.16 10.35 million (USD million)
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FAQs
Is there a TD bank in Israel?
Yes, this is the first Canadian bank to open its offices in Tel Aviv for the purpose of dealing with the growing cyber security Ecosystem in the country of Israel.
