Israel's two largest banks, Bank Hapoalim and Bank Leumi, are reporting record profits despite the economic challenges faced by local businesses and households during the ongoing war with Hamas. The profit surge is driven by high-interest rates and fees on mortgages and loans, while households are grappling with rising costs and a slowing economy. The banks have been criticized for not raising savings rates for customers and are facing pressure to provide financial relief to ease the burden on households and businesses.

Original article source: https://www.timesofisrael.com/major-lenders-profits-surge-as-banks-cash-in-on-wartime-credit-and-fee-growth/
Source Id: 2025-05-725395718