The Bank of Israel today published the results of its 2024 annual customer satisfaction survey, which points to significant gaps in how customers perceive fairness across different banks. The findings paint a complex picture of Israel's banking system, with Bank Yahav significantly leading the fairness rankings.

According to the survey, 74% of Bank Yahav's customers believe the bank treats them fairly – a figure that places it at the top of the national ranking. At the other end of the scale is Bank Hapoalim, where only 54% of customers feel they are treated fairly by the bank.

The significant gap of 20 percentage points between the leader and the lowest-ranked bank indicates high variability in perceived service quality within the Israeli banking system. This finding emphasizes the importance of choosing a bank that meets customer needs and highlights the necessity for transparency and competition in the banking market.

The Bank of Israel, as the regulator responsible for supervising the banking system, has declared that it will continue to monitor service levels and quality, both in the banking system and credit card companies. The supervision aims to ensure continuous improvement in customer service quality.

As part of the central bank's efforts to promote transparency and competition, an online comparison tool called "The Equator Line" has been launched. The tool enables consumers to compare services and products from different banks and choose the financial institution that best suits their needs.

The satisfaction survey reflects the importance of fairness and transparency in the modern banking system. It serves as a crucial tool for the regulator in overseeing the banking system and promoting fair competition in the sector. The survey also provides vital information to consumers when choosing the bank where they will manage their accounts.

The Bank of Israel encourages the public to share their experiences with different banks and use the online comparison tool to make informed decisions when selecting their suitable bank. This transparency, along with continued close supervision, is designed to ensure continuous improvement in the quality of banking services in Israel.