Discount Bank

"Israel's energy sector is at a critical point," said Avi Levy, CEO of the Discount Group, at the opening of an energy conference. He noted that the sector is undergoing rapid changes, requiring urgent improvements in planning, infrastructure, and regulatory processes to maintain economic competitiveness.

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.

PayBox is lowering barriers for group payments, allowing users to transfer up to 10,000 shekels per month from any card. The platform has also introduced the ability to transfer group administration to other users.

The two Israeli banks acting as intermediaries for the Palestinian banking system are expected to postpone the cessation of operations by several months, Globes has learned. This comes at the request of the Bank of Israel, with the goal of finding a permanent solution to prevent chaos.

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.

Economists at Discount Bank point to rising consumer prices and fuel costs driven by geopolitical tensions and a weaker shekel. These developments effectively rule out any near-term interest rate cuts in Israel.