2024-01-29 07:38:27
© Shutterstock Stability in bank income from fees in the first half of 2023
| Erez Raviv, Devar News
Banks’ revenues are stable in the field of commissions, as announced on Sunday in a report by the Bank of Israel regarding the first half of 2023.
The bulk of the bank’s profit was achieved during this period from interest income, and NIS 3.1 billion was collected from fees, similar to the rate of collection in 2022.
In the years 2017-2020, commission payments per individual customer decreased and the total collection was stable, but since then some payments have started to increase.
The average cost of managing the current account and holding debit cards for the account in the first half of 2023 stood at 28.5 NIS per month (an increase of 1.3 NIS per month compared to 2022), which is almost entirely attributed to the increase in the use of foreign currency transactions by credit card.
In the last decade it appears that the credit companies and banks are having marketing success in the field of credit cards. An average bank account holds more credit cards than in the past: if in 2012 there were 1.24 cards per account on average, then in the middle of 2023 the average account holds 1.8 cards.
This increase contributes to the banks’ ability to collect fees from the public. Accordingly, the cost of holding the tickets increased by an average of NIS 1.6 per month compared to 2022.
It is possible to reduce the bank account fees in the field of fees for just holding a checking account, there is a mixed trend.
Between 2011 and 2023, payments dropped by 46%, from an average of NIS 20.4 per month to only NIS 11.4. However, there are customers who are able to discount…
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