New Financial Services research report from Timetric is now available from Fast Market Research

Boston, MA -- (SBWire) -- 06/11/2013 --In Israel, the cards industry is dominated by three companies: Isracard, which belongs to Bank Hapoalim; Leumi Card, which belongs to Bank Leumi; and Visa Cal, which belongs to Discount Bank. Currently there are five foreign banks in Israel: Citigroup, HSBC Holding, Barclays Bank, BNP Paribas and State Bank of India. During the review period, the overall cards industry registered a nominal CAGR of 6.55%, from 7.0 million in 2008 to 9.0 million in 2012. Israel's banking system is open to foreign investment, and the government actively encourages and supports the inflow of foreign capital. In terms of card volume, the credit cards category held the highest industry share of 60.5% in 2012, followed by debit cards with 29.1% and prepaid cards with 10.4%. Over the forecast period, the credit cards category is expected to register a CAGR of 3.65%, rising from 6.0 million cards in 2013 to 6.6 million in 2017. The prepaid cards category is expected to post the highest growth with a CAGR of 5.05%, rising from 997,100 cards in 2013 to 1.2 million in 2017.

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Key Highlights

- Israel's economy recorded stable growth in 2012 at an annual rate of 2.9%, in comparison with 4.7% growth in 2011. The slow growth in GDP was mainly due to a decline in exports and low domestic consumption.
- In terms of card volume, the credit cards category held the highest industry share of 60.5% in 2012, followed by debit cards with 29.1% and prepaid cards with 10.4%.
- Two key trends in Israel's credit card category are the issuance of non-bank credit cards by credit card companies, usually linked to customer clubs or consumer or other entities, and the expansion of the range of services offered by credit card companies in the area of credit and financing to cardholders and merchants, including through the issuance of revolving credit cards which allow cardholders to determine debit amounts and dates according to their needs and ability to pay.
- In Israel, the cards industry is dominated by three companies: Isracard, which belongs to Bank Hapoalim; Leumi Card, which belongs to Bank Leumi; and Visa Cal, which belongs to Discount Bank. Currently there are five foreign banks in Israel: Citigroup, HSBC Holding, Barclays Bank, BNP Paribas and State Bank of India.

Scope

- This report provides a comprehensive analysis of Israel's cards and payments industry
- It provides current values for Israel's cards and payments industry for 2012 and forecast figures for 2017
- It details the different macroeconomic, infrastructural, consumer and business drivers affecting Israel's cards and payments industry
- It outlines the current regulatory framework in the industry
- It details the marketing strategies used by various bankers and other institutions.
- It profiles the major banks in Israel's cards and payments industry

Reasons to Get This Report

Companies Mentioned in this Report: Isracard Group, Leumi Card, Israel Credit Cards Ltd, BNP Paribas, Barclays Bank

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