Five Major Banks Appeal Israel’s Concentration-Group Declaration

Israel’s five largest banking groups, Leumi, Hapoalim, Mizrahi-Tefahot, Discount and First International, filed appeals with the Competition Tribunal against the Competition Authority’s May designation of them as a concentration group. They are also seeking cancellation of four deposit-market directives due to take effect in May 2027, covering price discrimination, transparency and access to deposit information. The banks argue the authority lacked jurisdiction and that the measures could harm competition and customers. The designation remains in force while the appeals proceed, with the authority’s response expected around December.