Investment company controls "jerusalem bank"
Export still trades like a holding company wrapper, but in 2025 it owns a better bank with comfortable capital room, while the early-2026 securitization suggests growth does not have to sit entirely on the balance sheet.
Q4 looks less like random noise and more like the first sign that 2025 earnings benefited from an unusually favorable mix of low provisions and strong non-interest income while the cost base had already become heavier.
The early-2026 securitization is a meaningful capital-recycling step for Bank Jerusalem because it converts part of the credit book into immediate profit, servicing income, and balance-sheet room, but at this stage it is still proof of capability rather than proof of a fully cap…
