What is a bank corporation?

The legal definition of a bank corporation in Israel according to the banking law is “a bank, foreign bank, mortgage bank, finance bank, merchant bank, financial institution or a joint service company.”

Therefore, when examining the list of bank corporations of the Bank of Israel, one can see that the institutions defined as bank corporations in Israel are 16 commercial banks, four additional foreign banks, one financial institution (Hesech- Kupat Hisachon Lechinuch Ltd., Haifa) and two joint service companies “Bank Clearing Center Ltd.” and “Automated Banking Services Ltd.” – these two groups are in essence service companies of the five largest banks in Israel.

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