Cal

The settlement approved in court determines that CAL customers who previously received a temporary exemption from card fees may be eligible for a refund for one month. Who is included in the group, how much money will they receive, and what has changed since then?

The Competition Authority has set strict conditions for approving the acquisition of CAL by the Union group and Harel. Parties are in negotiations, but disagreements over control and data access threaten the deal's completion.

The results of the industry leaders — Isracard, Cal, and Max — for the second quarter of 2026 show that the number of their active cards is already higher than the number of residents in Israel. Who led in transactions and who in quarterly profit, and what is the chance that any of the three will advance in entering banking activity? 3 notes on the reports.

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 credit card company's net profit rose by approximately 4% to 104 million shekels, excluding the one-time payment received from El Al for transferring the FlyCard club to Isracard, which stood at 23 million shekels in the second quarter. In total, the overall compensation CAL expects to receive for the termination of the engagement with El Al stands at 75 million shekels.

Credit card company CAL is planning to reduce its workforce by 10% to 15%, affecting 150 to 220 positions. This move follows the loss of the El Al FlyCard franchise to Isracard earlier this year.

Globes has learned that two new senior executives coming from fields outside the credit card industry will join the top management of CAL: Zoarit Yogev, who was deputy head of the mortgage division at Bank Leumi, and Tony Cohen, CEO of the Maccabident dental clinic chain.

Deputy CEO and Head of the Business Clients and Partners Division, Odalia Moshe Ostrovsky, will conclude her tenure after two years, during which she also served as CEO of Diners. Her departure follows the resignation of the VP of Human Resources amid ongoing leadership tensions at CAL.

A turning point in the advertising struggle between aviation clubs: After demanding the removal of parts of the Flyall advertisement, the Second Authority has changed its decision, determining that the comparison to Isracard's FLYCARD is legitimate. CAL must now add prominent clarifications and submit the corrected version for approval.

The Competition Authority is set to approve the sale of credit card company CAL to Union and Harel. The deal, valued at 3.7 billion shekels, will proceed with soft conditions and restrictions on data sharing.