Mercantile Bank finished in first place in the Bank Friendliness Index for small and medium-sized businesses for 2022, conducted by the Economy and Industry Ministry.
The index is based on the financial data published by the banks; a business satisfaction survey with the banks; and feedback received by the Agency for Small and Medium-Sized Businesses in the Economy and Industry Ministry among financial advisers, CPAs and tax advisors who help businesses receive banking services.
Mercantile Bank led all banks with a maximum score in three of the five parameters reviewed by the index: Scope of the bank’s credit for small and medium-sized businesses out of its total business credit; ratio of the interest rate to the risk of the credit that small and medium-sized businesses receive from the bank; the bank’s profitability rate from non-interest income (with various fees); business satisfaction survey with the banks; feedback from financial advisers on the banks.
Small businesses are important to Mercantile
“Small businesses are one of the most important target audiences for Mercantile Bank, and we invest a lot of effort to be excellent in providing professional and effective service to businesses in Israel," said CEO of Mercantile Bank Shuki Borstein. "The bank has been placed at the top of the friendliness index for six years and undertakes to continue to provide solutions to businesses in the future as well.”