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Israel Discount Bank
32°3′42.30″N 34°46′13.72″E / 32.0617500°N 34.7704778°E
Israel Discount Bank, Ltd. (Hebrew: בנק דיסקונט לישראל) is an Israeli banking institution that offers a range of financial services, including retail banking, commercial banking, private banking, and financial services. The bank, headquartered in Tel Aviv, operates 112 branches throughout Israel.
Founded on 5 April 1935 in Tel Aviv, Mandatory Palestine, the bank has grown to become a significant player in the Israeli banking industry. It is a public company listed on the Tel Aviv Stock Exchange under the symbol DSCT and is included in the Tel Aviv 35 Index.
The bank's product portfolio includes credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, and wealth management. It serves its customers through various channels including physical branches, online banking, and mobile banking.
As of 2018, the bank reported revenues of ₪ 9.02 billion, operating income of ₪ 1.5 billion, assets of ₪ 239.1 billion, and equity of ₪ 17.1 billion. The current CEO is Uri Levin, with Shaul Kobrinsky serving as the chairman.
Discount Bank was established on 5 April 1935, as Eretz Yisrael Discount Bank Ltd., by Leon Recanati and his partners, Yosef Albo and Moshe Carasso. In its early days, Discount Bank operated out of a small hotel on Nachlat Binyamin Street in Tel Aviv. It later moved to its permanent location at 39 Yehuda Halevi Street. Today, Discount Bank's headquarters are located at the Discount Bank Tower, a 30-story skyscraper located at 23 Yehuda HaLevi Street in Tel Aviv, which completed construction in 2006.
Discount Bank derives its name from the word "disconto" - discount of bills. Discount Bank began its operations at a time of relative economic prosperity due to foreign capital that was brought into the country by members of the Fifth Aliyah in 1935, and grew significantly in its initial years of operation.
Economic growth declined with the outbreak of the Arab Revolt in 1936, and worsened even more after the outbreak of World War II. Despite the deterioration of the economy, Bank Discount profits rose due to its policy of granting loans on good terms in response to the legislation imposed by the British Mandate, which limited withdrawal of deposits. Alongside its financial activity, the bank contributed to the strength of the Yishuv through the establishment of Kadima, an organization that granted scholarships, opened an assistance center for the needy and, in conjunction with the Jewish Agency for Israel, helped establish agricultural settlements for immigrants from Arab countries.
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Israel Discount Bank
32°3′42.30″N 34°46′13.72″E / 32.0617500°N 34.7704778°E
Israel Discount Bank, Ltd. (Hebrew: בנק דיסקונט לישראל) is an Israeli banking institution that offers a range of financial services, including retail banking, commercial banking, private banking, and financial services. The bank, headquartered in Tel Aviv, operates 112 branches throughout Israel.
Founded on 5 April 1935 in Tel Aviv, Mandatory Palestine, the bank has grown to become a significant player in the Israeli banking industry. It is a public company listed on the Tel Aviv Stock Exchange under the symbol DSCT and is included in the Tel Aviv 35 Index.
The bank's product portfolio includes credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, and wealth management. It serves its customers through various channels including physical branches, online banking, and mobile banking.
As of 2018, the bank reported revenues of ₪ 9.02 billion, operating income of ₪ 1.5 billion, assets of ₪ 239.1 billion, and equity of ₪ 17.1 billion. The current CEO is Uri Levin, with Shaul Kobrinsky serving as the chairman.
Discount Bank was established on 5 April 1935, as Eretz Yisrael Discount Bank Ltd., by Leon Recanati and his partners, Yosef Albo and Moshe Carasso. In its early days, Discount Bank operated out of a small hotel on Nachlat Binyamin Street in Tel Aviv. It later moved to its permanent location at 39 Yehuda Halevi Street. Today, Discount Bank's headquarters are located at the Discount Bank Tower, a 30-story skyscraper located at 23 Yehuda HaLevi Street in Tel Aviv, which completed construction in 2006.
Discount Bank derives its name from the word "disconto" - discount of bills. Discount Bank began its operations at a time of relative economic prosperity due to foreign capital that was brought into the country by members of the Fifth Aliyah in 1935, and grew significantly in its initial years of operation.
Economic growth declined with the outbreak of the Arab Revolt in 1936, and worsened even more after the outbreak of World War II. Despite the deterioration of the economy, Bank Discount profits rose due to its policy of granting loans on good terms in response to the legislation imposed by the British Mandate, which limited withdrawal of deposits. Alongside its financial activity, the bank contributed to the strength of the Yishuv through the establishment of Kadima, an organization that granted scholarships, opened an assistance center for the needy and, in conjunction with the Jewish Agency for Israel, helped establish agricultural settlements for immigrants from Arab countries.