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Pro $SHVA.TA thread. What is #MASAB? Hebrew Acronym for 'Bank Clearing Center'. This is the firm that operates all bank to bank wires in Israel. Founded in 1982 by the same banks that founded $SHVA.TA and operated as one business unit until $SHVA.TA's demutualization in 2019 >
#MASAB is the backbone of all Banking transactions in Israel. Think SWIFT. Private co-owned today by the leading banks in Israel (25%: Hapoalim, Leumi, Discount and 12.5%: Mizrachi, Tfahot, benleumi). Its estimated Revs are ~ 46 M NIS, with ~ 8-9M NIS net profit. >>
Like $SHVA.TA, #MASAB is a critical financial Infra, and needs to operate on the safe, hardened facilities. Imagine even one morning in which you could not wire funds from your account due to a hacker attack or just malfunction. Now think about the costs associated. >>
