Financial services

Financial services

  
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1

Discount Bank to fire 150 within three months

Financial services
  The Histadrut and the bank's management have reached agreement as Israel Discount Bank merges with Discount Mortgage Bank.
  Eran Peer and Shay Niv 03/05/2012
 Israel Discount Bank (TASE: DSCT ) and the Histadrut (General Federation of Labor in Israel) have signed an agreement about the integration of Discount Mortgage Bank employees into the parent bank ...
2

IDB borrows NIS 300m from Menorah, Bereshit

Financial services
  Today's notification to the Tel Aviv Stock Exchange confirms a "Globes" report in February.
  Kobi Yeshayahou 02/05/2012
 IDB Holding Corp. Ltd. (TASE: IDBH ), controlled by Nochi Dankner, has confimed the report in "Globes" on February 7 of a loan from Menorah Mivtachim Holdings Ltd. (TASE: MORA ) and the Bereshit fund....
3

Fischer: We don't want home prices to fall sharply

Financial services
  The Governor of the Bank of Israel told the Knesset Finance Committee today that the real estate market was at a sensitive stage.
  Adrian Filut 02/05/2012
 Governor of the Bank of Israel Stanley Fischer acknowledged for the first time today that the Bank of Israel was starting to prepare for the possibility that at least one country will leave the euro "...
4

Bank of Jerusalem expands consumer credit eight-fold

Financial services
  Consumer loans granted jumped from NIS 48 million in 2010 to NIS 398 million in 2011.
  Eran Peer 01/05/2012
 In 2011, Bank- Bank of Jerusalem (TASE: JBNK ) increased the consumer credit it granted by a factor of eight. Total loans granted jumped from NIS 48 million in 2010 to NIS 398 million in 2011. At the...
5

Rakefet Russak-Aminoach takes over reins at Leumi

Financial services
  Russak-Aminoach replaces long-serving CEO Galia Maor. She will receive a monthly salary of NIS 180,000.
  Guy Katsovich 01/05/2012
 Bank Leumi (TASE: LUMI ) sets out on a new path today with the official change of guard at the top. Galia Maor, who served as CEO of the bank for the past seventeen years, steps down today and Rakefet...
6

Dexia Israel offered to Discount Bank

Financial services
  Discount Bank has yet to respond to the offer but market sources believe that it will not make an offer to purchase.
  Adrian Filut and Eran 30/04/2012
 Troubled European bank Dexia Group continues to look for a buyer for its Israeli subsidiary Dexia Israel (Public Finance) Ltd. (TASE: DXIL ). Sources inform "Globes" that various bodies have recently...
7

Leumi chairman fears credit crunch

Financial services
  David Brodet's estimates will result in a credit shortfall of NIS 16 billion a year.
  Eran Peer 29/04/2012
 "A credit crunch appears less serious than what we saw a few months ago, following the Bank of Israel's clarifications on capital adequacy, but the problem has not gone away," said Bank Leumi (TASE: ...
8

EMG wipes NIS 350m off pension funds

Financial services
  The investment institutions bought their stakes in EMG in 2007 at a valuation of $2.2 billion.
  Ron Stein and Avi Shauly 23/04/2012
 After hesitating for along time, the institutions that invested in Egyptian gas supplier EMG five years ago have been forced to recognize an aggregate loss of $93 million (about NIS 350 million in At...
9

Tamar partners secure development financing

Financial services
  The $900 million agreement is with a consortium of eleven banks, among them HSBC and Barclays.
  Fadi Mualem 22/04/2012
 Yesterday evening, the partners in the "Tamar" gas field offshore from Israel reported that they had reached agreement with a consortium of banks on finance for development of the field. The Delek ( ...
10

Delek Real Estate: No agreement with bondholders

Financial services
  "There has been no change in the circumstances on the basis of which the company announced that it will not oppose liquidation."
  Koby Yeshayahou 22/04/2012
 On Friday, it was reported that Yizhak Tshuva and the bondholders of Delek Real Estate Ltd. (TASE: DLKR ) had reached a debt settlement. Tshuva agreed to grant an upside of 2-2.5% of Delek Group Ltd's...

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