Insurance company to become shareholder in Esh with 4.99% holding; investment values the new digital bank at NIS 1.8 billion

The two entities will jointly issue local and international credit and debit Mastercards to customers of Israel's first purely digital bank

Banking Supervision Department is set to authorize Amnon Shashua taking full control of bank, after co-founder Marius Nacht bows out, person familiar says

Shashua to buy holdings of co-founder Marius Nacht and inject $60 million into the fully digital bank, which expects to start operations in 2021

Entrepreneurs Marius Nacht and Amnon Shashua, controlling shareholders of new bank, seek to raise funds needed for equity requirements from local, foreign investors

The approval marks the first time in 40 years a new bank will be set up in Israel; the plan is for a digital bank, without branches, that aims to compete with incumbent lenders

Calcalist: The co-founder and CEO of Mobileye is in advanced talks to join the new banking venture of billionaire Marius Nacht, also co-founder of Check Point Software