After a slight decline in the second quarter - Mor Gemel raises profit forecast

Mor Gemel ve-Pensiya recorded a slight decline in total profit in the second quarter. The company reported a total profit of 17.5 million shekels, a decrease of 3% compared to the same quarter last year.

This year, Mor Gemel ve-Pensiya became the second-largest provident fund company in Israel, with assets totaling 115.5 billion shekels as of the end of June. The Mor pension fund manages 21 billion shekels, and the company's total assets have grown by 15% since the beginning of the year. Accordingly, revenues from management fees in the second quarter rose to 197 million shekels compared to 148 million shekels in the same quarter—an increase of 33%. The decline in profitability was recorded following an increase in marketing commissions, which rose to 107 million shekels for the quarter, compared to 78 million shekels in the same period last year.

Mor Gemel ve-Pensiya, under CEO Eldad Tzinman, raised its adjusted pre-tax profit forecast for 2026 to 150–165 million shekels, compared to a previous forecast that ranged between 140 million and 160 million shekels. In the last 12 months, Mor Gemel ve-Pensiya shares have risen by 23%, and the company is traded at a market capitalization of 2.2 billion shekels. Mor Investments (66.4%) is the controlling shareholder of Mor Gemel ve-Pensiya. The controlling owners of the investment house are the Mairov family and the Levy family.