Banking

Israel Discount Bank

Israel Discount Bank is the third-largest banking group in Israel, founded in Tel Aviv in 1935.

Israel Discount Bank Ltd. is an Israeli commercial bank headquartered in Tel Aviv, the third-largest banking group in Israel after Bank Hapoalim and Bank Leumi.[1]

History

The bank was founded on 5 April 1935 as Eretz Israel Discount Bank, during the British Mandate, by a group of investors led by the Recanati family.[1] It was nationalised following the 1983 bank stock crisis and privatised in stages between 2005 and 2010.

Operations

The group includes the main commercial bank, Mercantile Discount Bank, and the credit-card company Cal (Israel Credit Cards). Its shares trade on the Tel Aviv Stock Exchange under the symbol DSCT.[2]

Regulation

Israel Discount Bank is supervised by the Bank of Israel and the Israel Securities Authority.[3]

Sources

  1. [1] Israel Discount Bank — Wikipedia

    Cited for: Founded 5 April 1935 as Eretz Israel Discount Bank; third-largest Israeli banking group

  2. [2] Israel Discount Bank — official site — Israel Discount Bank Primary source

    Cited for: Group includes Mercantile Discount Bank and Cal; listed on TASE as DSCT

  3. [3] Israel Securities Authority — ISA Primary source

    Cited for: Supervised by the Bank of Israel and the Israel Securities Authority