FINANCIAL SERVICES

Insurtech company WeSure Global Tech bought 67% of Ayalon Holdings for NIS 447.6 million.

The Israeli fintech company, which began trading on Nasdaq after its SPAC merger at a company valuation of $8.5 billion, is now worth only $2.8 billion.

Akirov's Alrov Properties and Lodgings bought shares to the tune of NIS 100 million in the bank's offering last week.

The Israeli businessman holds 2.1% of the bank's equity after it raised NIS 2.75 billion in new shares last night.

Deel has bid $1 per share, a 174% premium on PayGroup's closing price on the Australian stock exchange.

Despite the market turmoil, the Israeli fintech company debuts on Nasdaq today, without having cut its valuation.

The Israeli bank's share issue will support rising demand for loans in the commercial, business and mortgage sectors.

Based in Ghana, the company provides financial services in regions that lack basic banking services.

Last week SPAC company EJFA's share price fell 40% on the day before shareholders approved proceeding with the merger.

From today non-banking credit companies in Israel can receive information from banks and credit card companies as part of the open banking reform.

Mortgage lending totaled NIS 12 billion last month, the Bank of Israel reports, the second highest amount of mortgages taken this year, only beaten by the all-time record high of NIS 13.4 billion in March.

The Israeli-US company has announced that it is suspending all withdrawals, swaps and transfers from the accounts of its investors.

Hippo president Rick McCathron has taken over from co-founder Assaf Wand, who becomes executive chairperson.

Analysis by the Bank of Israel finds that loan-to-value and payment-to-income were at peak levels for mortgages taken in April.

The funds have been raised from Israeli institutional investors including banks, insurance companies and investment houses.

Despite a 71% increase in profit, the Israel bank will not distribute a dividend due to the accelerated growth in credit to the public.

Unlike Bank Hapoalim, Bank Leumi will pay a divided on its first quarter profit, but only 20%, to meet capital adequacy requirements.

The Israeli online trading platform could raise up to $690 million in a private financing round, probably at well below the $8.8 billion valuation of the planned merger.

Sales of two building sin Tel Aviv plus growth in the credit portfolio helped bring the bank's firts quarter profit to NIS 983 million.

Because of rapid credit growth, requiring a high capital allocation, the bank has decided not to declare a dividend for the second quarter in succession.

After Ayalon complied with the Concentration Law and WeSure's owners received a control permit, the NIS 463 million deal can be completed.

The Israeli-US embedded finance company closed the round before the valuation bubble began to burst.

The total of new mortgages in April was 22% down on March, but still relatively high for the month of the Passover holiday.

The residential tower project in central Tel Aviv, in one of Israel's most prestigious neighborhoods, will take five years to complete.

Sella Capital Real Estate is buying the historic Beit Mani and adjoining 13-floor building in Yehuda Halevi Street.

Insurance group Migdal has participated in the acquisition of CyrusOne, its first equity investment in the field.

Pension funds will be allowed to charge direct expenses only on certain kinds of investment.

As the market cools, privately-held tech companies increasingly prefer raising capital through loans rather than venture capital equity deals.

Clal Insurance Enterprise Holdings has signed an MOU with Warburg Pincus and its partners to buy Max for NIS 2.47 billlion.

Automated credit company Liquidity is raising up to $50 million from Apollo Global Management, MUFG Innovation Partners, Spark Capital, and others.