Revolut gets a conditional banking licence in Israel
The Bank of Israel has granted Revolut a conditional licence to set up a new bank, Revolut Bank Israel, together with a control permit for the entity.
The Bank of Israel has granted Revolut a conditional licence to set up a new bank, Revolut Bank Israel, together with a control permit for the entity. The bank cannot start operating yet: it must still meet regulatory, technology and operational requirements, and the central bank will oversee the process before lifting the remaining restrictions.
It is the third licence granted to a new bank in Israel since December 2019, after roughly 40 years without new banking entrants. The central bank presents the approval as part of its push for more competition in the sector.
Revolut Bank Israel will be chaired by Shmuel (Molly) Ben-Zvi, with Uri Nathan, former CEO of digital bank Pepper, as CEO. Revolut already holds an Israeli payments licence, granted in July 2025.