Payments have been suspended on some 24% of mortgages in Israel as of the end of April, in the wake of the economic crisis caused by the coronavirus pandemic.

Thus, the banks’ decade-long profit engine may be coming to an end – in 2020, mortgages were responsible for 56% of Israeli banks’ net profits, or 431 million shekels ($124 million) in total.

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The crisis comes at a time when a record 1 million people have registered as unemployed.

Some

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