Phone from the bank: Which banks are the most small-business friendly in Israel?
Ministry of Economy: Mercantile and Mizrahi Tefahot continue to be the most friendly banks for small and medium-sized businesses.
The index also shows that there is a decrease of most banks in the volume of interest income in relation to credit compared to last year.
Between Ashkenazi
19/04/2022
Tuesday, 19 April, 2022, 13:02 Updated: 13:10
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The Ministry of Economy publishes the Bankers' Index for Small and Medium-Sized Businesses for 2021. According to the index, the Mercantile and Mizrahi Tefahot banks continue to be the most small and medium-sized business-friendly banks.
According to the index, in the past year, the credit rate for small businesses has decreased by a total of 1.8 percentage points of total business credit.
The index also shows that there is a decrease of all banks (except Mizrahi Tefahot) in the amount of interest income relative to credit compared to last year, due to the effects of the state-guaranteed fund and that a decrease in credit can be seen as a result of, among other things, growth in business activity.
In addition, the data show that there is an increase in the price of credit in relation to the risk of a consistent decrease in the operating burden of three consecutive years.
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Mizrahi Tefahot, small and medium-sized business friendly (Photo: ShutterStock)
"Banks play a crucial role"
The Bankers' Index for Small and Medium-Sized Businesses, published since May 2018 by the Agency for Small and Medium-Sized Businesses in the Ministry of Economy and Industry, is intended to encourage awareness and competitiveness in the field of credit for small and medium-sized businesses.
The index is based on the financial data published by the banks, a business satisfaction survey and a feedback survey conducted by the agency among financial advisors who help businesses receive various services from the banks.
The index refers to businesses with a turnover of up to NIS 50 million.
Minister of Economy and Industry, Orna Barbibai
: "At a time when the economy is once again in high growth, banks, as major sources of financing for small and medium-sized businesses, play a crucial role in providing quality and fair credit for business start-ups, current needs and those who still need credit." For businesses and an incentive for banks to improve in providing the service and attitude to small and medium-sized businesses "
Mercantile Bank, also at the top of the small and medium-sized business friendliness ranking (Photo: Yachz)
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Mizrahi Bank
Mercantile
Banks
Ministry of Economy
