About Israel Discount Bank
Israel Discount Bank Limited, together with its subsidiaries, provides various banking and financial services. Segments The company operates through Retail Banking, Middle Market Banking, Corporate Banking, Financial Operations, Discount Capital, Discount Bancorp, and Israel Credit Cards Company segments. Retail Banking This segment includes household activity (this framework includes services provided by the bank and Mercantile Discount Bank Ltd. (MDB) in the field of banking and capital market operations for their private customers) and activity of small businesses (this framework includes services provided by the bank and MDB in the field of banking and capital market operations for business customers, individuals and corporations, the activity of which is typical of small businesses). Middle Market Banking This segment includes banking services provided by the bank and MDB to business customers (individuals and corporations) having a medium scope of operations. Corporate Banking This segment includes banking services provided by the bank and MDB to large corporations. The segment also includes the activity of the bank and MDB in the construction and real estate field. Financial Operations This segment includes financial activity of the bank and of MDB, which is not attributed to customers, such as operations in the securities portfolios of the banks. Discount Capital This segment includes operations in the field of investment (in companies, in private equity funds, in venture capital funds and in mezzanine operations), in the field of investment banking, in the initiation and assistance of public and private placements and in providing underwriting and distribution services (by means of a subsidiary company). Discount Bancorp This segment includes international activity of the Discount Group, characterized as corporate- middle market activity and private banking through Israel Discount Bank of New York (IDB Bank). Israel Credit Cards Company This segment includes issue and clearing activity of credit cards of different kinds, for use in Israel and abroad. Domestic Operations The Discount Group offers its customers comprehensive banking services in all fields of financial activity, by means of a chain of branches in Israel (branches of the bank and branches of Mercantile Discount Bank Ltd.), online banking services and digital banking. The activities in Israel cover additional fields, including: Credit Cards - The bank controls Israel Credit Cards Ltd. (ICC) and Diners Club Israel Ltd. (Diners), which issue, market and operate 'VISA', 'Diners' and 'MasterCard' credit cards, both for domestic and overseas use and clears transactions made by 'VISA', 'Diners' and 'MasterCard' credit cards that are valid in Israel and abroad, and the brand 'IsraCard' (in Israel only), as well as engaged in extending off-banking credit and in the development of payment solutions. Non-Financial Investments and Underwriting - The subsidiary 'Discount Capital Ltd.' is engaged in investments in companies, in private equity funds, in venture capital funds, in the investment banking field, as well as in initiating and assisting public offerings and private placements and providing underwriting and distribution services by means of a subsidiary company. Securities Portfolio Management - The subsidiary, Tafnit Discount Asset Management Ltd. (Tafnit), which manages securities investment portfolios for private customers, corporations, not-for-profit organizations and institutional bodies. The household segment (Domestic Operations) provides services and diverse financial products to the company's private individual customers, both at the bank and at MDB. International Activity The international activity of the Discount Group is conducted by the subsidiary company in the United States. IDB Bank is the only bank under Israeli ownership operating in the U.S., and at the present time operates branches in the New York area, Florida and California. This bank has representative offices in Latin America and in Israel. The international activity is characterized as business-commercial and private banking activity. Competition The bank's principal competitors are the four other major banks in Israel - Bank Hapoalim, Bank Leumi, the First International Bank (FIBI) and Mizrahi-Tefahot Bank. History Israel Discount Bank Limited was founded in 1935. The company was incorporated in 1935.
