The banks’ aggregate profit on real estate business rose 52% to NIS 486 million in January-September.

Although the recovery in the real estate industry might not be felt on the ground, it is making a strong showing in the banks’ financial reports. The reports for the third quarter of 2006 show that the banks’ aggregate profits from the real estate sector totaled NIS 486 million in January-September, 52% more than the NIS 319 million in revenue in the corresponding period of 2005.