N@N

Israel's finance committee chief faults government over soaring bank profits

The article from Reuters discusses the concerns raised by Moshe Gafni, the head of Israel's parliamentary finance committee, regarding the soaring profits of Israeli banks amidst the ongoing conflict with Hamas. Gafni criticized the government for not addressing the banks' high profits, which he believes are at the expense of consumers. He highlighted that while banks are reporting record profits, they are not adequately supporting the economy or the public during these challenging times. Gafni pointed out that banks have not reduced interest rates on loans in line with the Bank of Israel's rate cuts, nor have they increased deposit rates to help consumers. He also mentioned that the banks' profits are partly due to increased activity in government bond trading, which has surged due to the war. This situation has led to calls for regulatory intervention to ensure banks contribute more to the national effort during the crisis.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/israels-finance-committee-chief-faults-government-over-soaring-bank-profits-2025-03-04/ ]