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Top banks notch record profits from credit and fee growth during wartime

Israel's largest banks have reported record profits for the second quarter, driven by rising interest payments, credit fees, and commissions from households and businesses facing ongoing wartime economic challenges. Discount Bank posted a 6.7 percent jump in quarterly profit, while Bank Leumi and Bank Hapoalim also saw double-digit increases, fueled by strong growth in net interest income and credit provided to the public. The surge in profits comes as many Israelis struggle with high mortgage payments, increased debt, and persistent high interest rates, following nearly two years of conflict. The banks' financial results have sparked criticism, highlighting the contrast between their robust earnings and the economic hardship faced by much of the population.

Original article source: https://www.timesofisrael.com/top-banks-notch-record-profits-from-credit-and-fee-growth-during-wartime/
Source Id: 8816529315

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