Bank Mercantile ranked first in 2023 small business bank friendliness index

Bank Mercantile has once again secured the top spot in the Small and Medium-sized Business Banking Friendliness Index for 2023, as published by the Ministry of Economy and Industry. With a score of 94, the highest among the measured banks, Mercantile maintains a significant lead over the bank ranked second. This achievement solidifies Mercantile's position as the leading bank in the small and medium-sized business sector.

The index is based on five parameters that contribute to the overall score: the bank's credit volume for small and medium-sized businesses, the business credit portfolio, the interest rate policy for small and medium-sized businesses, the bank's profitability from non-interest income (various fees), businesses' satisfaction survey with the banks, and feedback from financial advisors about the banks.

In the survey component of the index, conducted among small and medium-sized businesses, Mercantile Bank ranked first. Among the parameters where the bank received the highest rating were the bank's responsiveness to business needs, availability of the bank, satisfaction with the use of the bank's application/website, and how the bank supports businesses following the pandemic.

Shuki Burshtein, CEO of Bank Mercantile, notes: "Small and medium-sized businesses are a significant and central engine of the Israeli economy. Accordingly, Mercantile Bank is committed to promoting them. As a bank specializing in providing banking solutions to this group of businesses, we see the survey results, placing the bank in first place for the third consecutive year and at the top of the index for the seventh consecutive year, as a tangible expression of understanding businesses and the ability to provide them with tailored tools for growth and prosperity. The index reflects, among other things, the satisfaction of business entities seeking funding for business expansion. Mercantile Bank is committed to continue providing quality service at the highest professional level to all its customers and standing by businesses at all times."