Core Insights - Esh Bank Israel Ltd. aims to disrupt the Israeli banking sector by offering to split interest revenue with depositors, set to launch in early 2026 [1][2] - The bank has raised 110 million ILS and plans to operate without physical branches, focusing on online services [3][4] Company Overview - Esh Bank is co-founded by cybersecurity billionaire Nir Zuk and will provide online checking accounts, loans, and credit cards [1][4] - The bank's operational model allows for negligible costs, enabling it to take greater risks in credit offerings due to high margins [4] Market Context - The Israeli banking sector is highly concentrated, with five lenders controlling the majority of assets, prompting new entrants like Esh Bank and One Zero Digital to seek market share [2] - One Zero Digital, another banking startup, reported over 130,000 customers by the end of 2024 and accounted for one-third of new retail accounts since its inception, despite posting losses of 268 million ILS in 2024 [4]