July 24, 2017 11:32 AM ET

Banks

Company Overview of Israel Discount Bank Limited

Company Overview

Israel Discount Bank Limited, together with its subsidiaries, provides various banking and financial services in Israel and internationally. The company operates through Household, Private Banking, Minute Businesses, Small Businesses, Medium Businesses, Large Businesses, Institutional Bodies, and Financial Management segments. It offers current account management services; credit products; deposits; capital market services; credit cards; loans for the purchase, lease, enlargement, renovation, or construction of a residential unit; loans for various purposes secured by a mortgage on a residential unit; professional services to small and medium businesses; financing to small businesses; and se...

27-31 Yehuda Halevy

POB 456

Tel Aviv,  6513601

Israel

Founded in 1935

8,558 Employees

Phone:

972 3 514 5582

Fax:

972 3 517 1674

Key Executives for Israel Discount Bank Limited

Chief Executive Officer and President
Age: 47
Total Annual Compensation: 2.3M
Head of Planning, Strategy & Finance Division, Senior EVP, President of IDB NY & CEO of IDB NY
Age: 45
Total Annual Compensation: 1.1M
Head of Technologies & Operations Division and Executive Vice President
Age: 47
Total Annual Compensation: 1.1M
Chief Executive Officer of Discount Underwriting and Issuing Ltd
Total Annual Compensation: 553.0K
Head of the Corporate Division - IDB New York and Executive Vice President of IDB New York
Total Annual Compensation: 2.0M
Compensation as of Fiscal Year 2016.

Israel Discount Bank Limited Key Developments

Israel Discount Bank Announces Earnings Results for the First Quarter of 2017

Israel Discount Bank announced earnings results for the first quarter of 2017. The company reported a net profit of ILS 303 million for the first quarter of 2017. This represents an increase of 70% in comparison with the profit for the first quarter of 2016. The return on equity in the first quarter of 2017 was 8.6%, which compares with 5.5% in the corresponding quarter of 2016. Interest income grew 11.2%, to ILS 1.1 billion, while fee income grew 6.7%.

Banks Gear Up To Sell ILS 400 Million Of Stake In Shva

Israels banks are gearing up to sell of much of their stakes in the Automated Bank Services Limited (Shva), a divestment that could fetch them a combined ILS 400 million. Four of Israels big five banks have stakes in the company and three of them will have to sell substantial portions of them to meet the new law on banking competition that bars them from holding more than 10% of Shva after a four-year deadline expires. The sell-off, which a valuation of Shva puts at ILS 400 million, could be done via an initial public offering of shares for trading on the Tel Aviv Stock Exchange, or in a sale to a single investor. Alternatively, the banks might offer their excess shares to the credit card issuing companies that the same law mandates they spin off, although they would be limited to 10% stakes themselves. In the case of Shva, its bank shareholders are now in the process of merging Shva’s The Bank Clearance Center (Masab). They say there’s no reason Masab has to remain a separate operation. Shva is now waiting for the Antitrust Authority to clear the merger. When that is done, the banks holding will be diluted but three of them will have to sell off a big chunk of their holdings. Bank Leumi le- Israel B.M (Leumi) will have to sell a 28% stake to bring its holding down to 10% while Bank Hapoalim B.M. (TASE:POLI) (Hapoalim) will have to sell 22% and Israel Discount Bank Limited (TASE:DSCT) 11% at a combined value of ILS 400 million. First International Bank of Israel Ltd (TASE:FTIN) will have just 5.4% of the merger company and Mizrahi Tefahot Bank Ltd. (TASE:MZTF) just 3%.

Israel Discount Bank Limited, Q4 2016 Earnings Call, Mar 29, 2017

Israel Discount Bank Limited, Q4 2016 Earnings Call, Mar 29, 2017

Similar Private Companies By Industry

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Industrial Development Bank of Israel Ltd. Middle East/Africa
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Arab Israel Bank Ltd. Middle East/Africa
Bank Massad Ltd. Middle East/Africa
Bank Otsar Ha-Hayal Ltd. Middle East/Africa

Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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