Only 20 Account for One Fifth of All Credit

The 20 largest borrowers in Israel have received nearly 20 percent of the credit extended to the public by Israeli banks: out of a total loan pool of about NIS 590 billion, these top 20 recipients account for between NIS 105-120 billion, according to research conducted by Haaretz.

Most of the information was gleaned from financial statements. In the case of privately held companies, the data was based on estimates and information provided by these companies.

Heading this list of major borrowers are the Israel Electric Corporation, the Ofer Group (including Israel Corp. and Israel Chemicals), IDB, Eliezer Fishman, Koor, the Dankner Group, Bezeq, El Al and Gad Zeevi.

The banks have made significant write-offs for doubtful debt for four main clients: Tevel (controlled by IDB), Zeevi, Shamrock (for its acquisition of Pelephone) and Aryeh Genger (for Lumenis).