The Bank of Israel grew its reserves of foreign currency deposits by some $47.3 billion in 2020. It bought foreign currency to keep Israel’s shekel from soaring in value, which damages Israeli exports. The Bank invested these reserves and, despite low interest rates, made 4% profit – its highest in 5 years.
https://www.boi.org.il/en/NewsAndPublications/PressReleases/Pages/22-3-21.aspx