Israel Banking & Financial Services Q4 2018
Israel has a highly developed, but highly concentrated, banking and financial services industry with a small number oflarge banks and insurance companies controlling almost 60% of the market. Many of these banks are at least part-governmentowned, providing some stability, though their dominance drives down competition in the market and increases costs for Israelicustomers. Plans to increase competition in the credit card sector should help to lower prices and increase options for consumersby introducing smaller companies into the market. However, any further plans to break up banks could lead to instability in themarket.
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