Going into a bank deficit without paying interest – how did that happen?

Discount Bank responded first to the threatening innovation of the digital bank – and offered an option To enter the minus up to NIS 2,000 without interest ■ This is indeed a competitive step that comes towards the customers, but on the other hand – is there a market education for living in the minus?

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Sami Peretz
07.01.2022 05:56

Eyal Tuag

The corona crisis could have been one big nightmare for banks, with customers losing their livelihoods overnight, businesses closing and running into difficulties, and all economic activity going back several years. But above the banks there is a tier that could have paid a heavier price for such a crisis – the governments – and so they, together with the central banks, have come to the rescue of the economies and the financial system through the most aggressive and massive intervention in history. The result: the banking system has not suffered even a small shock from the corona crisis. On the contrary. At the beginning of the crisis, the banking system was preparing for heavy losses, and therefore made provisions for bad debts, but thanks to the government involvement and assistance from the Bank of Israel, the banks were able to collect the debts and in 2021 they registered …

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