The company is engaged in issuing bonds and depositing the proceeds with Bank Jerusalem.
Jerusalem Issuances finished 2025 larger but not more independent: the new late-2025 series expanded the balance sheet and Bank Jerusalem funding pipe, while profit stayed thin and the stand-alone equity cushion remained close to symbolic.
Jerusalem Issuances trades as a ranked debt stack, not as one undifferentiated issuer: senior paper sits at AA-/Aa2, series 17 sits one rung lower, and series כ added capacity to the senior layer without changing the loss order.
The NIS 72.1 million cash headline is misleading: at the end of 2025 Jerusalem Issuances had almost no stand-alone liquidity outside Bank Jerusalem, because nearly all assets already sat with related parties and bondholder protection was mainly structural and legal.
