Yair Avidan Senior Executive VP, Head of the Subsidiaries Division
CPA Nir Abel Executive VP, Chief Internal Auditor and Head of the Internal Audit Division
Orit Alster Executive VP, Head of the Corporate Div.
Ziv Biron Executive VP, CFO, Head OF the Planning, Strategy and Finance Division
Joseph Beressi Senior Executive VP, Chief Accountant and Head of the Accounting Division
Yuval Gavish Senior Executive VP, Head of the Banking Division
Yafit Gariani Executive VP, Head of the Human Resources and Properties Division
Adv. Esther Deutsch Senior Executive VP, Chief Legal Advisor and Head of the Legal Advisory and Regulation Division
Levy Halevy Executive VP, Head of the Technologies and Operations Division
Avi Levi Senior Executive VP, Chief Risk Officer and Head of the Risk Management Division
Asaf Pasternak Executive VP, Head of Financial Markets Division
About Israel Discount Bank Ltd.
In 2017, the Bank continued implementing its strategic plan for achieving industry-leadership in customer satisfaction through customized banking, comprising three principal layers: continued growth and efficiency; a transformation in traditional banking; and the development of innovative banking models. Concurrently, individual strategies were formulated for the subsidiaries, in order to adapt the Group’s operations for the dynamic competitive environment.
Formation of the “Discount Spirit”
During 2017, the Bank launched “Discount Spirit”, which comprises its vision, values and code of ethics. Its vision is: To become the best bank for its customers, enabling long-term growth and financial solidity through customized, professional and fair banking.
In December 2017, the Bank’s Board of Directors approved a dividend policy, effective 1Q18, with a quarterly dividend of up to 15% of the net distributable earnings, as reflected in the consolidated financial statements for the preceding quarter.
Discount Group Activity
Holdings include Mercantile Discount Bank (MDB), a commercial bank specializing in small-business services and products through a chain of 76 branches1; the credit company ICC (71.8% owned); and Discount Capital, active in investments, investment banking and underwriting. The Group operates abroad via IDB Bank, the largest Israeli bank operating overseas, which focus is on the business-commercial sector and private banking. Discount Bank is publicly traded in the TASE. All equity of the Bank is held by the public (having no core controlling interest). Discount Bank offers its customers comprehensive banking services through 111 branches1. It reports in five major operating segments:
Households - This segment, together with the small-business segment, is the main growth engine in the Bank’s strategic plan. This segment includes private customers of the Banking Division at Discount Bank and of MDB. At their disposal are professional consulting layouts, including: investment consulting at the branches and investment centers as well as pension consulting in selected branches.
Small and Minute Businesses - Customers benefit from one-stop-shop business and private solutions by a business-banking staff at the branches. Additionally, customers enjoy a designated website, SMS services, and a unique credit card “business key” that rewards home and business purchases. The customers have a range of attractive financing channels, small business funds to finance investment and growth, and a designated trading room that provides a variety of tailored foreign-currency services.
Medium Businesses - The segment provides services to medium companies and to customers of MDB and commercial banking of IDB Bank. The service is provided in five countrywide business centers, through teams which provide a personal, professional and comprehensive service that includes credit solutions, currency and risk hedging, credit card clearing, financing, specialized investments, international trade and more. The segment also offers financial solutions for company owners and managers and special arrangements for their employees.
Large businesses - This segment includes large business customers, financial institutions and institutional customers of the Bank and large business customers of its subsidiaries. The financial support is provided through dedicated teams, that serve as a SPOC for all of the business customer’s financial needs, including creative financial solutions and banking products in credit, currency hedging, international trade, credit card clearing, specialized investments in the capital market and more. Real-estate customers are serviced by the Real-Estate and Infrastructure wing, which also provides solutions for complex transactions involving investments in national infrastructures such as energy, toll roads, desalination and water plants. The segment also provides structuring of syndicate deals in conjunction with institutional investors and banking entities. Institutional customers and capital market operators obtain credit allocation services and related services – brokerage, investment consulting and securities lending.
Private-Banking - This unique segment includes private banking customers of Discount Bank, medium- and high-net-worth Israelis and foreign residents. The segment also includes medium- and high-net-worth private banking customers of MDB and IDB Bank. The service to Israeli customers of Discount Bank is provided at four designated centers and at seven extensions. Medium-net-worth customers receive consulting services from the best consultants at the Bank. High-net-worth Customers receive comprehensive services from well-experienced bankers and consultants. Service to international customers is provided in Tel Aviv and Netanya.
Fintech and Innovation
The Bank adapts to its dynamic environment and actively creates innovative banking models for providing customized advanced services. The Bank has acquired Paybox’s Israeli operations, thus becoming a significant player in the individual-customer payments field. The cooperation with iCount, designed for small-business’ customers handled by the Banking Division, comprises the first business-technological application in the banking sector in Israel to apply an open banking concept, for an interface with third party suppliers, implemented through a cutting-edge API platform that enables a global-standard based secured connection. Furthermore, as part of its efforts, the Bank initiated, developed and launched in 2017 “Didi – the Digital Assistant”, which enables customers to perform transactions, access information and get insights regarding the activity in their account, . Through written and spoken natural language requests. The service is based on advanced analytic capabilities and artificial intelligence, and is the first of its kind in the banking sector.
Community Involvement and Contribution
Since its foundation, the Bank has been active in community affairs as part of its corporate, social and cultural commitment. Many employees, volunteer in various activities. The Bank donates to many associations, with a focus on children and youth education. “Discount Sprint” is the flagship project supported by the Bank, which joined the “Sprint for the Future” Association, in helping students from peripheral areas completing their high school studies with a full matriculation certificate. Additionally, the Bank sponsors various cultural and artistic projects. “Herzelilinblum” - private Museum of Banking and Tel Aviv Nostalgia, provides the possibility of a close study of the history and economics of Israel since the beginning of the last century.
1 Data was updated on March 31st 2017.
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