Israel

Mizrahi Tefahot Bank has begun setting up a factoring subsidiary.

Plainfield Asset Management LLC is expanding its holding in Gadish Global Ltd., by negotiating to buy the holding of Psagot Financing And Factoring Ltd.

 Isracard is rumoured to be entering the factoring business via an acquisition.

D&B Israel reports that the number of companies paying late rose in June.

The program will provide additional credit for companies with annual sales of up to NIS 30m. Ampa capital Ltd. and Leumi Card Ltd. will launch a non-bank credit card for small businesses, called Ampa Business Card. The program will provide additional credit for companies with annual sales of up to NIS 30m.

It's spring in the primary market and more than 20 companies are lining up to tap your wallet in May. Most are newcomers but some are veterans, such as Schnapp. And with the heat rising on the Tel Aviv Stock Exchange, some are melting down before the finish line.

Factoring in Israel is expected to continue to grow at a significant rate. In turn, the improvement in macro economic indicators and the increased awareness of factoring contribute to the development of the industry.

Euler Hermes, the world premier credit insurer, acquired one third of the capital of Israel's leading credit insurance provider ICIC based in Tel Aviv. At the same time,

Gadish provident fund is to be acquired by a group of investors led by Psagot Financing And Factoring Ltd (PSFN). US investment house Plainfield Asset Management LLC will hold

Israel Land Development Company (ILDC), owned by the Nimrodi family, announced the completion of the  deal, adding that its net profit from the deal will amount to only