Israel Discount Bank
Full Text
בנק דיסקונט לישראל בע"מ
Head office: Discount 1, Rishon LeTsiyon 7574602, Israel. Tel.: +972-3-9439111
An Israeli commercial bank that provides a variety of banking services and controls the Mercantile Bank. The bank offers banking services in all areas of financial activity.
Discount Bank and its fully owned subsidiary, Mercantile Discount Bank, provide financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Discount Bank provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
In April 2022, the bank granted Bar-Amana Buildings Construction & Development Co. a loan for the construction of 45 housing units on about 10’684 m2 of land in the settlement of Geva Binyamin (Adam) in the occupied West Bank, on lands belonging to the Palestinian village of Jaba', according to Plan no. 240/2/14/3/1.
In February 2022 and in 2020, Discount Bank granted Shoham Engineering and Development company loans against all the company’s funds and financial rights from its projects with The Society for the Reconstruction and Development of the Jewish Quarter in the Old City in Jerusalem. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2021, Discount Bank granted Shitrit Ayalon company a loan for a construction project on 4,500 m2 in the settlement of Beitar Ilit in the occupied West Bank. The bank holds as collateral the company’s contractual and rights to the land and project.
Previously, the bank accompanied construction projects in the settlements of Alfei Menashe, Ariel and Mishor Adumim in the occupied West Bank, and the settlement neighborhoods of Gilo and Neve Ya'akov in occupied East Jerusalem. For more see Who Profits’ report from 2017 Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise
Banking Services to Settlement Local and Regional Councils
Israel Discount Bank and Mercantile Discount Bank provide loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
The banks have provided loans and various banking services for the settlements of Oranit, Elkana, Beit Aryeh-Ofarim, Har Adar, Ma’ale Adumim, Sha’ar Shomron, Kedumim, Kiryat Arba, Karnei Shomron, Modi’in Ilit, Beitar Ilit, Emanual, GIvat Ze'ev, Alfei Menashe and Ariel, and to the Har Hevron, Mateh Binyamin, Megilot Dead Sea and Gush Etzion Regional Councils in the occupied West Bank.
The banks have also provided loans and banking services to the Golan Regional Council, which includes 33 settlements in the occupied Syrian Golan.
Har Hevron
As of July 2024, Mercantile Discount and Israel Discount Bank has a total of 11 active pledge agreements with the Har Hevron Regional Council in the occupied West Bank. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
In January 2024, Mercantile Discount signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
In July 2023, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreements indicate a NIS 2,447,897 and a NIS 2,241,278 loans received from the bank.
In October 2022, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreements mention a NIS 1,481,000 and a NIS 2,650,000 loans received from the bank.
In June 2021, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral. The agreement mentions a NIS 1,300,000 and a NIS 2,140,000 loans received from the bank.
On 28 November 2023, the Har Hevron Local Council general assembly approved a NIS 750,000 loan from Discount Bank for 2024.
On 5 September 2023, the Har Hevron Regional Council general assembly approved a NIS 2,241,278 loan from Mercantile Bank for 15 years.
On 21 February 2023, the Har Hebron Regional Council general assembly approved a NIS 2,680,000 loan from Mercantile Bank branch in Beitar Ilit, and a NIS 1,750,000 loan from Discount Bank, according to the banks’ requirements, including pawning of the council's revenue as collateral.
On 6 December 2022, the Har Hebron Regional Council general assembly approved a line of credit for 2023 of NIS 2,700,000 from Mercantile Discount and NIS 1,750,000 from Discount Bank. In 2022, the Har Hebron Regional Council received a line of credit of NIS 1,980,000 from Mercantile Discount and NIS 1,750,000 from Discount Bank.
As of 17 January 2023, the Har Hevron Regional Council maintained 4 bank accounts in Mercantile Bank for 4 schools located in the settlements of Susya, Atniel and Sansana, which are under its jurisdiction.
Oranit
As of July 2024, Mercantile Discount has a total of 3 active pledge agreements with the Oranit Local Council in the occupied West Bank.
In June 2024, Mercantile Discount signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 950,000.
In March 2024, Mercantile Discount signed a pledge agreement with the Oranit Local Council for a period of 17 years (ends 2041) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 800,000.
On 28 March 2024, the Oranit Local Council general assembly approved the opening of an account in Mercantile Discount for the council for its ongoing activities.
On 21 November 2023, the Oranit Local Council general assembly approved a loan from Mercantile Bank of NIS 8.5 million for 15 years.
On 14 March 2023, the Oranit Local Council general assembly approved the budget for the purchase of a shelter in the amount of 1,053,000 NIS financed by Mercantile Bank, and a budget for the installation of solar panels on the roofs of public buildings in the settlement with the finance of a NIS 500,000 loan received from Mercantile Bank.
Elkana
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Elkana Local Council in the occupied West Bank.
In February 2024, Mercantile Discount signed a pledge agreement with the Elkana Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
On 14 January 2024, the Elkana Local Council approved a NIS 1 million loan for 2024 from Mercantile Discount Bank
On 19 March 2023, the Elkana Local Council decided to open an account at the Mercantile Discount Bank and work with the bank in all areas of operation as well as receive banking services according to the council's needs.
In December 2022, Mercantile Discount signed a pledge agreement with the Elkana Local Council for a period of 10 years (ends 2032) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,099,330.
Beit Aryeh-Ofarim
As of July 2024, Mercantile Discount has a total of 15 active pledge agreements with the Beit Aryeh Local Council in the occupied West Bank.
In December 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 3 September 2023, the Beit Aryeh-Ofarim Local Council approved NIS 2.5 million credit loans for 2024 from Mercantile Discount Bank.
In July 2023, Mercantile Discount signed two pledge agreements with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. One of the agreements mentions a loan received from the bank in the amount of NIS 300,000.
In June 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 750,000.
In April 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 17 years (ends 2040) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 700,000.
In March 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 8 years (ends 2031) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,036,549.
In January 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 750,000.
In May 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 500,000.
In April 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 7,900,000.
In January 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 890,000.
On 7 December 2022, the Beit Aryeh-Ofarim Local Council approved a NIS 2.5 million credit loan for 2023 from Mercantile Discount Bank.
On 28 July 2022, the Beit Aryeh-Ofarim Local Council approved a NIS 2 million credit loans from Mercantile Discount Bank for the period between July and December 2022.
Har Adar
As of July 2024, Mercantile Discount has a total of 4 active pledge agreements with the Har Adar Local Council in the occupied West Bank.
In April 2024, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 12 years (ends 2036) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,100,000.
In December 2023, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
As of 13 December 2022, the Har Adar Local general assembly maintained two accounts at Discount Bank.
On 31 October 2023, the Har Adar Local Council general assembly approved taking a NIS 3,265,000 loan from Mercantile Discount Bank for 10 years.
In August 2022, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 7 years (ends 2029) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 400,000.
In April 2022, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,610,000.
Megilot Dead Sea
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Megilot Dead Sea Regional Council in the occupied West Bank. The Megilot Dead Sea Regional Council provides services to 8 settlements in the northern Dead Sea area in the occupied West Bank.
In August 2018, Mercantile Discount signed three pledge agreements with the Megilot Dead Sea Regional Council for a period of 35 years (ends 2053) against all council’s current and future revenue and property as collateral. The agreements mention loans received from the bank in the amount of NIS 1,414,114, NIS 362,647 and NIS 1,978,687.
Mateh Binyamin
As of July 2024, Mercantile Discount and Israel Discount Bank has a total of 4 active pledge agreements with the Mateh Binyamin Regional Council in the occupied West Bank. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
In August 2018, Israel Discount signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 25 years (ends 2043) against all council’s current and future revenue and property as collateral. The pledge agreement guarantees coverage of all the council's debts, obligations and charges up to an amount of 130 million NIS.
Kedumim
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Kedumim Local Council in the occupied West Bank.
In March 2023, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 10 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,095,951.
In August 2022, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 6,200,000.
On 29 May 2022, the Kedumim Local Council general assembly approved a NIS 6.2 million loan from Mercantile Discount for 10 years against the council's revenues as collateral.
In April 2022, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 10 years (ends 2032) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,100,000.
Kiryat Arba
As of July 2024, Mercantile Discount has 4 active pledge agreements with the Kiryat Arba Local Council in the occupied West Bank.
In February 2022, Mercantile Discount signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,850,000.
In October 2021, the Kiryat Arba Local Council general assembly decided to take out a NIS 1850,000 loan from Mercantile Discount Bank for a period of 10 years.
In April 2020, the Kiryat Arba Local Council general assembly decided to increase that was granted to it by Mercantile Bank with an additional NIS 1 million, making the total amount of the loan NIS 3 million.
Karnei Shomron
As of July 2024, Mercantile Discount has 5 active pledge agreements with the Karnei Shomron Local Council in the occupied West Bank.
As of February 2024, the Karnei Shomron Local Council maintains an account in Mercantile Bank.
In January 2024, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 4 years (ends 2028) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 550,000.
In July 2023, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,825,000.
In June 2022, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 11 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,025,561.
Modiin Ilit
As of July 2024, Mercantile Discount 4 active pledge agreements with the Modiin Ilit Municipality in the occupied West Bank.
In July 2023, Mercantile Discount signed a pledge agreement with the Modiin Ilit Municipality for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 4 million.
On 28 July 2022, the Modiin Ilit Municipality general assembly approved a 4 million NIS loan from Mercantile Bank for the renovation of roads.
Beitar Ilit
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Beitar Ilit Municipality in the occupied West Bank.
In August 2015, Mercantile Discount signed a pledge agreement with the Beitar Ilit Municipality for a period of 20 years (ends 2035) against the council’s current and future funds from the Israel Police in respect of a rental agreement.
In November 2010, Mercantile Discount signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2109) against all the council’s rights for funds from Isracard Ltd., the Ministry of Education, the Ministry of the Interior and the municipality's own receipts.
Gush Etzion
As of July 2024, Israel Discount Bank and Mercantile Discount Bank have a total of 10 active pledge agreements with the Gush Etzion Regional Council in the occupied West Bank. The Gush Etzion Regional Council provides services to 22 settlements in the occupied West Bank.
In July 2023, Israel Discount Bank signed a pledge agreement with the Gush Etzion Regional Council for a period of 20 years (ends 2043) against the council’s current and future revenue as collateral.
Also in July 2023, Mercantile Discount signed a pledge agreement with the Gush Etzion Regional Council for a period of 17 years (ends 2040) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 13,500,000.
In May 2022, Israel Discount Bank signed a pledge agreement with the Gush Etzion Regional Council for a period of 45 years (ends 2067) against the council’s current and future revenue as collateral.
In February 2021, Mercantile Discount signed a pledge agreement with the Gush Etzion Regional Council for a period of 13 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 7,900,000.
Emanual
As of July 2024, Mercantile Discount has 1 active pledge agreements with the Emanuel Local Council in the occupied West Bank.
In September 2023, Mercantile Discount signed a pledge agreement with the Emanual Local Council for a period of 10 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,573,934.
Givat Ze’ev
As of July 2024, Mercantile Discount has 2 active pledge agreements with the Givat Ze’ev Local Council in the occupied West Bank.
On 21 June 2022, the Givat Ze’ev Local general assembly approved the opening of an account at Mercantile Bank.
In February 2010, Mercantile Discount signed a pledge agreement with the Givat Ze’ev Local Council for a period of 20 years (ends 2030) against all the council’s rights for current and future funds from the Ministry of Education.
Ma’ale Adumim
On 16 January 2023, the Ma’ale Adumim Municipality general assembly approved a NIS 4 million loan from Discount Bank for managing the current cash flow of the municipality for 2023.
Discount Bank holds two pledge agreements with the Ma'ale Adumim Municipality ending 2105 and 2107. The bank holds as collateral the municipality's funds received from the residents.
Sha’ar Shomron
On 29 November 2023, the Sha’ar Shomron Local Council general assembly approved the opening of an account at Mercantile Discount Bank.
Golan Regional Council
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Golan Regional Council. The Golan Regional Council includes 33 settlements in the occupied Syrian Golan.
In June 2023, Mercantile Discount signed a pledge agreement with the Golan Regional Council for a period of 14 years (ends 2037) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 5 million.
On 13 December 2022, the Golan Regional Council general assembly approved the opening of an auxiliary account at Mercantile Discount for the contractor for a youth club project in Yonatan settlement in the occupied Syrian Golan.
In July 2022, Mercantile Discount signed a pledge agreement with the Golan Regional Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 5 million.
Alfei Menashe
As of July 2024, Mercantile Discount has 3 active pledge agreements with Alfei Menashe Local Council.
In November 2020, Mercantile Discount signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2119) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 3.5 million.
In October 2020, Mercantile Discount signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2119) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,021,000.
Ariel
In June 2022, Mercantile Discount signed a pledge agreement with the Ariel Municipality for a period of 10 years (ends 2032) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 3,877,679.
In December 2021, the Ariel Municipality general assembly decided on opening two new accounts in Mercantile Discount Bank for the municipality's activities.
In 2020, Mercantile Discount granted the Ariel Municipality a 15-year NIS 3,000,000 loan to complete the construction of a country club in the settlement.
Services to Settlements
In January 2024, Discount Bank financed the establishment of a new public transportation company operating in the occupied West Bank and East Jerusalem.
The company “Derech Egged”, a subsidiary of Egged Group, won the Ministry of Transportation tender to operate bus lines between Jerusalem and nearby areas, including Ramot and Givat Ze’ev settlement neighborhoods in occupied East Jerusalem and Beit Horon settlement and Ofer military camp in the occupied West Bank. Discount Bank granted Egged NIS 340 million for the purchase of new buses and additional investments to improve service, covering 90% of the investment required to establish the lines.
Branches in Settlements
Discount Bank and Mercantile Discount operate branches in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
Discount Bank operates branches in the settlement of Ma’ale Adumim in the occupied West Bank and the Ramat Eshkol settlement neighborhood in occupied East Jerusalem.
Mercantile Discount operates branches in the settlement of Beitar Ilit in the occupied West Bank, and the Ramot settlement neighborhood in occupied East Jerusalem.
Palestinian Captive Market
Discount Bank benefits from access to the Palestinian banking market as a captive market.
Under the Paris Protocol, the Palestinian economy is subjected to the Israeli currency and the Palestinian banking market's financial dealings with the rest of the world must go through the Israeli banking system. Palestinian banks have to rely on Israeli banks, which serve as correspondent banks, for fund transfers and clearing services, for which the bank requires deposit exorbitant cash collaterals and charges high commissions, and imposes restrictions on the transfer of money.
Discount Bank benefits from access to the Palestinian banking market as a captive market. The bank operates a branch in Sultan Sulayman Street in East Jerusalem.
Services to the Israeli Military
Israeli military Intelligence Campus (Kiryat Hatikshuv)
In August 2022, Discount Bank, together with Harel Insurance Investments and Financial Services, led the financing of the military’s Intelligence Campus project in the Naqab in the amount of NIS 4.2 billion.
The Israeli military Intelligence Campus (Kiryat Hatikshuv) is part of the Israeli Ministry of Defense relocation plan of the military technology units including the ICT Corps’ technology unit, the Air Force’s technology unit and the Southern Command headquarters, to the Naqab region.
The Campus is located near Likit junction, between Omer Industrial Park and the Palestinian Bedouin village of Lakiya. The campus spreads over 2,500,000 m2 to host the military’s Intelligence operations and house about 12,000 soldiers and officers of the Intelligence, Cyber and Technology units, as well as the headquarter units of the Intelligence Division.
Services to the Israel Police
In 2012, Discount Bank was the main financier in the amount of NIS 725 million of the Policity project for the National Police Academy campus and training facility for the Israel Police.
An Israeli commercial bank that provides a variety of banking services and controls the Mercantile Bank. The bank offers banking services in all areas of financial activity.
Discount Bank and its fully owned subsidiary, Mercantile Discount Bank, provide financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Discount Bank provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
In April 2022, the bank granted Bar-Amana Buildings Construction & Development Co. a loan for the construction of 45 housing units on about 10’684 m2 of land in the settlement of Geva Binyamin (Adam) in the occupied West Bank, on lands belonging to the Palestinian village of Jaba', according to Plan no. 240/2/14/3/1.
In February 2022 and in 2020, Discount Bank granted Shoham Engineering and Development company loans against all the company’s funds and financial rights from its projects with The Society for the Reconstruction and Development of the Jewish Quarter in the Old City in Jerusalem. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2021, Discount Bank granted Shitrit Ayalon company a loan for a construction project on 4,500 m2 in the settlement of Beitar Ilit in the occupied West Bank. The bank holds as collateral the company’s contractual and rights to the land and project.
Previously, the bank accompanied construction projects in the settlements of Alfei Menashe, Ariel and Mishor Adumim in the occupied West Bank, and the settlement neighborhoods of Gilo and Neve Ya'akov in occupied East Jerusalem. For more see Who Profits’ report from 2017 Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise
Banking Services to Settlement Local and Regional Councils
Israel Discount Bank and Mercantile Discount Bank provide loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
The banks have provided loans and various banking services for the settlements of Oranit, Elkana, Beit Aryeh-Ofarim, Har Adar, Ma’ale Adumim, Sha’ar Shomron, Kedumim, Kiryat Arba, Karnei Shomron, Modi’in Ilit, Beitar Ilit, Emanual, GIvat Ze'ev, Alfei Menashe and Ariel, and to the Har Hevron, Mateh Binyamin, Megilot Dead Sea and Gush Etzion Regional Councils in the occupied West Bank.
The banks have also provided loans and banking services to the Golan Regional Council, which includes 33 settlements in the occupied Syrian Golan.
Har Hevron
As of July 2024, Mercantile Discount and Israel Discount Bank has a total of 11 active pledge agreements with the Har Hevron Regional Council in the occupied West Bank. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
In January 2024, Mercantile Discount signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
In July 2023, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreements indicate a NIS 2,447,897 and a NIS 2,241,278 loans received from the bank.
In October 2022, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreements mention a NIS 1,481,000 and a NIS 2,650,000 loans received from the bank.
In June 2021, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral. The agreement mentions a NIS 1,300,000 and a NIS 2,140,000 loans received from the bank.
On 28 November 2023, the Har Hevron Local Council general assembly approved a NIS 750,000 loan from Discount Bank for 2024.
On 5 September 2023, the Har Hevron Regional Council general assembly approved a NIS 2,241,278 loan from Mercantile Bank for 15 years.
On 21 February 2023, the Har Hebron Regional Council general assembly approved a NIS 2,680,000 loan from Mercantile Bank branch in Beitar Ilit, and a NIS 1,750,000 loan from Discount Bank, according to the banks’ requirements, including pawning of the council's revenue as collateral.
On 6 December 2022, the Har Hebron Regional Council general assembly approved a line of credit for 2023 of NIS 2,700,000 from Mercantile Discount and NIS 1,750,000 from Discount Bank. In 2022, the Har Hebron Regional Council received a line of credit of NIS 1,980,000 from Mercantile Discount and NIS 1,750,000 from Discount Bank.
As of 17 January 2023, the Har Hevron Regional Council maintained 4 bank accounts in Mercantile Bank for 4 schools located in the settlements of Susya, Atniel and Sansana, which are under its jurisdiction.
Oranit
As of July 2024, Mercantile Discount has a total of 3 active pledge agreements with the Oranit Local Council in the occupied West Bank.
In June 2024, Mercantile Discount signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 950,000.
In March 2024, Mercantile Discount signed a pledge agreement with the Oranit Local Council for a period of 17 years (ends 2041) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 800,000.
On 28 March 2024, the Oranit Local Council general assembly approved the opening of an account in Mercantile Discount for the council for its ongoing activities.
On 21 November 2023, the Oranit Local Council general assembly approved a loan from Mercantile Bank of NIS 8.5 million for 15 years.
On 14 March 2023, the Oranit Local Council general assembly approved the budget for the purchase of a shelter in the amount of 1,053,000 NIS financed by Mercantile Bank, and a budget for the installation of solar panels on the roofs of public buildings in the settlement with the finance of a NIS 500,000 loan received from Mercantile Bank.
Elkana
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Elkana Local Council in the occupied West Bank.
In February 2024, Mercantile Discount signed a pledge agreement with the Elkana Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
On 14 January 2024, the Elkana Local Council approved a NIS 1 million loan for 2024 from Mercantile Discount Bank
On 19 March 2023, the Elkana Local Council decided to open an account at the Mercantile Discount Bank and work with the bank in all areas of operation as well as receive banking services according to the council's needs.
In December 2022, Mercantile Discount signed a pledge agreement with the Elkana Local Council for a period of 10 years (ends 2032) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,099,330.
Beit Aryeh-Ofarim
As of July 2024, Mercantile Discount has a total of 15 active pledge agreements with the Beit Aryeh Local Council in the occupied West Bank.
In December 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 3 September 2023, the Beit Aryeh-Ofarim Local Council approved NIS 2.5 million credit loans for 2024 from Mercantile Discount Bank.
In July 2023, Mercantile Discount signed two pledge agreements with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. One of the agreements mentions a loan received from the bank in the amount of NIS 300,000.
In June 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 750,000.
In April 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 17 years (ends 2040) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 700,000.
In March 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 8 years (ends 2031) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,036,549.
In January 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 750,000.
In May 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 500,000.
In April 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 7,900,000.
In January 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 890,000.
On 7 December 2022, the Beit Aryeh-Ofarim Local Council approved a NIS 2.5 million credit loan for 2023 from Mercantile Discount Bank.
On 28 July 2022, the Beit Aryeh-Ofarim Local Council approved a NIS 2 million credit loans from Mercantile Discount Bank for the period between July and December 2022.
Har Adar
As of July 2024, Mercantile Discount has a total of 4 active pledge agreements with the Har Adar Local Council in the occupied West Bank.
In April 2024, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 12 years (ends 2036) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,100,000.
In December 2023, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
As of 13 December 2022, the Har Adar Local general assembly maintained two accounts at Discount Bank.
On 31 October 2023, the Har Adar Local Council general assembly approved taking a NIS 3,265,000 loan from Mercantile Discount Bank for 10 years.
In August 2022, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 7 years (ends 2029) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 400,000.
In April 2022, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,610,000.
Megilot Dead Sea
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Megilot Dead Sea Regional Council in the occupied West Bank. The Megilot Dead Sea Regional Council provides services to 8 settlements in the northern Dead Sea area in the occupied West Bank.
In August 2018, Mercantile Discount signed three pledge agreements with the Megilot Dead Sea Regional Council for a period of 35 years (ends 2053) against all council’s current and future revenue and property as collateral. The agreements mention loans received from the bank in the amount of NIS 1,414,114, NIS 362,647 and NIS 1,978,687.
Mateh Binyamin
As of July 2024, Mercantile Discount and Israel Discount Bank has a total of 4 active pledge agreements with the Mateh Binyamin Regional Council in the occupied West Bank. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
In August 2018, Israel Discount signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 25 years (ends 2043) against all council’s current and future revenue and property as collateral. The pledge agreement guarantees coverage of all the council's debts, obligations and charges up to an amount of 130 million NIS.
Kedumim
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Kedumim Local Council in the occupied West Bank.
In March 2023, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 10 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,095,951.
In August 2022, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 6,200,000.
On 29 May 2022, the Kedumim Local Council general assembly approved a NIS 6.2 million loan from Mercantile Discount for 10 years against the council's revenues as collateral.
In April 2022, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 10 years (ends 2032) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,100,000.
Kiryat Arba
As of July 2024, Mercantile Discount has 4 active pledge agreements with the Kiryat Arba Local Council in the occupied West Bank.
In February 2022, Mercantile Discount signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,850,000.
In October 2021, the Kiryat Arba Local Council general assembly decided to take out a NIS 1850,000 loan from Mercantile Discount Bank for a period of 10 years.
In April 2020, the Kiryat Arba Local Council general assembly decided to increase that was granted to it by Mercantile Bank with an additional NIS 1 million, making the total amount of the loan NIS 3 million.
Karnei Shomron
As of July 2024, Mercantile Discount has 5 active pledge agreements with the Karnei Shomron Local Council in the occupied West Bank.
As of February 2024, the Karnei Shomron Local Council maintains an account in Mercantile Bank.
In January 2024, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 4 years (ends 2028) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 550,000.
In July 2023, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,825,000.
In June 2022, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 11 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,025,561.
Modiin Ilit
As of July 2024, Mercantile Discount 4 active pledge agreements with the Modiin Ilit Municipality in the occupied West Bank.
In July 2023, Mercantile Discount signed a pledge agreement with the Modiin Ilit Municipality for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 4 million.
On 28 July 2022, the Modiin Ilit Municipality general assembly approved a 4 million NIS loan from Mercantile Bank for the renovation of roads.
Beitar Ilit
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Beitar Ilit Municipality in the occupied West Bank.
In August 2015, Mercantile Discount signed a pledge agreement with the Beitar Ilit Municipality for a period of 20 years (ends 2035) against the council’s current and future funds from the Israel Police in respect of a rental agreement.
In November 2010, Mercantile Discount signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2109) against all the council’s rights for funds from Isracard Ltd., the Ministry of Education, the Ministry of the Interior and the municipality's own receipts.
Gush Etzion
As of July 2024, Israel Discount Bank and Mercantile Discount Bank have a total of 10 active pledge agreements with the Gush Etzion Regional Council in the occupied West Bank. The Gush Etzion Regional Council provides services to 22 settlements in the occupied West Bank.
In July 2023, Israel Discount Bank signed a pledge agreement with the Gush Etzion Regional Council for a period of 20 years (ends 2043) against the council’s current and future revenue as collateral.
Also in July 2023, Mercantile Discount signed a pledge agreement with the Gush Etzion Regional Council for a period of 17 years (ends 2040) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 13,500,000.
In May 2022, Israel Discount Bank signed a pledge agreement with the Gush Etzion Regional Council for a period of 45 years (ends 2067) against the council’s current and future revenue as collateral.
In February 2021, Mercantile Discount signed a pledge agreement with the Gush Etzion Regional Council for a period of 13 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 7,900,000.
Emanual
As of July 2024, Mercantile Discount has 1 active pledge agreements with the Emanuel Local Council in the occupied West Bank.
In September 2023, Mercantile Discount signed a pledge agreement with the Emanual Local Council for a period of 10 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,573,934.
Givat Ze’ev
As of July 2024, Mercantile Discount has 2 active pledge agreements with the Givat Ze’ev Local Council in the occupied West Bank.
On 21 June 2022, the Givat Ze’ev Local general assembly approved the opening of an account at Mercantile Bank.
In February 2010, Mercantile Discount signed a pledge agreement with the Givat Ze’ev Local Council for a period of 20 years (ends 2030) against all the council’s rights for current and future funds from the Ministry of Education.
Ma’ale Adumim
On 16 January 2023, the Ma’ale Adumim Municipality general assembly approved a NIS 4 million loan from Discount Bank for managing the current cash flow of the municipality for 2023.
Discount Bank holds two pledge agreements with the Ma'ale Adumim Municipality ending 2105 and 2107. The bank holds as collateral the municipality's funds received from the residents.
Sha’ar Shomron
On 29 November 2023, the Sha’ar Shomron Local Council general assembly approved the opening of an account at Mercantile Discount Bank.
Golan Regional Council
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Golan Regional Council. The Golan Regional Council includes 33 settlements in the occupied Syrian Golan.
In June 2023, Mercantile Discount signed a pledge agreement with the Golan Regional Council for a period of 14 years (ends 2037) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 5 million.
On 13 December 2022, the Golan Regional Council general assembly approved the opening of an auxiliary account at Mercantile Discount for the contractor for a youth club project in Yonatan settlement in the occupied Syrian Golan.
In July 2022, Mercantile Discount signed a pledge agreement with the Golan Regional Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 5 million.
Alfei Menashe
As of July 2024, Mercantile Discount has 3 active pledge agreements with Alfei Menashe Local Council.
In November 2020, Mercantile Discount signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2119) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 3.5 million.
In October 2020, Mercantile Discount signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2119) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,021,000.
Ariel
In June 2022, Mercantile Discount signed a pledge agreement with the Ariel Municipality for a period of 10 years (ends 2032) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 3,877,679.
In December 2021, the Ariel Municipality general assembly decided on opening two new accounts in Mercantile Discount Bank for the municipality's activities.
In 2020, Mercantile Discount granted the Ariel Municipality a 15-year NIS 3,000,000 loan to complete the construction of a country club in the settlement.
Services to Settlements
In January 2024, Discount Bank financed the establishment of a new public transportation company operating in the occupied West Bank and East Jerusalem.
The company “Derech Egged”, a subsidiary of Egged Group, won the Ministry of Transportation tender to operate bus lines between Jerusalem and nearby areas, including Ramot and Givat Ze’ev settlement neighborhoods in occupied East Jerusalem and Beit Horon settlement and Ofer military camp in the occupied West Bank. Discount Bank granted Egged NIS 340 million for the purchase of new buses and additional investments to improve service, covering 90% of the investment required to establish the lines.
Branches in Settlements
Discount Bank and Mercantile Discount operate branches in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
Discount Bank operates branches in the settlement of Ma’ale Adumim in the occupied West Bank and the Ramat Eshkol settlement neighborhood in occupied East Jerusalem.
Mercantile Discount operates branches in the settlement of Beitar Ilit in the occupied West Bank, and the Ramot settlement neighborhood in occupied East Jerusalem.
Palestinian Captive Market
Discount Bank benefits from access to the Palestinian banking market as a captive market.
Under the Paris Protocol, the Palestinian economy is subjected to the Israeli currency and the Palestinian banking market's financial dealings with the rest of the world must go through the Israeli banking system. Palestinian banks have to rely on Israeli banks, which serve as correspondent banks, for fund transfers and clearing services, for which the bank requires deposit exorbitant cash collaterals and charges high commissions, and imposes restrictions on the transfer of money.
Discount Bank benefits from access to the Palestinian banking market as a captive market. The bank operates a branch in Sultan Sulayman Street in East Jerusalem.
Services to the Israeli Military
Israeli military Intelligence Campus (Kiryat Hatikshuv)
In August 2022, Discount Bank, together with Harel Insurance Investments and Financial Services, led the financing of the military’s Intelligence Campus project in the Naqab in the amount of NIS 4.2 billion.
The Israeli military Intelligence Campus (Kiryat Hatikshuv) is part of the Israeli Ministry of Defense relocation plan of the military technology units including the ICT Corps’ technology unit, the Air Force’s technology unit and the Southern Command headquarters, to the Naqab region.
The Campus is located near Likit junction, between Omer Industrial Park and the Palestinian Bedouin village of Lakiya. The campus spreads over 2,500,000 m2 to host the military’s Intelligence operations and house about 12,000 soldiers and officers of the Intelligence, Cyber and Technology units, as well as the headquarter units of the Intelligence Division.
Services to the Israel Police
In 2012, Discount Bank was the main financier in the amount of NIS 725 million of the Policity project for the National Police Academy campus and training facility for the Israel Police.
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Israel Discount Bank
בנק דיסקונט לישראל בע"מ
Head office: Discount 1, Rishon LeTsiyon 7574602, Israel.
Tel.: +972-3-9439111
An Israeli commercial bank that provides a variety of banking services and controls the Mercantile Bank. The bank offers banking services in all areas of financial activity.
Discount Bank and its fully owned subsidiary, Mercantile Discount Bank, provide financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Discount Bank provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
In April 2022, the bank granted Bar-Amana Buildings Construction & Development Co. a loan for the construction of 45 housing units on about 10’684 m2 of land in the settlement of Geva Binyamin (Adam) in the occupied West Bank, on lands belonging to the Palestinian village of Jaba', according to Plan no. 240/2/14/3/1.
In February 2022 and in 2020, Discount Bank granted Shoham Engineering and Development company loans against all the company’s funds and financial rights from its projects with The Society for the Reconstruction and Development of the Jewish Quarter in the Old City in Jerusalem. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2021, Discount Bank granted Shitrit Ayalon company a loan for a construction project on 4,500 m2 in the settlement of Beitar Ilit in the occupied West Bank. The bank holds as collateral the company’s contractual and rights to the land and project.
Previously, the bank accompanied construction projects in the settlements of Alfei Menashe, Ariel and Mishor Adumim in the occupied West Bank, and the settlement neighborhoods of Gilo and Neve Ya'akov in occupied East Jerusalem. For more see Who Profits’ report from 2017 Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise
Banking Services to Settlement Local and Regional Councils
Israel Discount Bank and Mercantile Discount Bank provide loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
The banks have provided loans and various banking services for the settlements of Oranit, Elkana, Beit Aryeh-Ofarim, Har Adar, Ma’ale Adumim, Sha’ar Shomron, Kedumim, Kiryat Arba, Karnei Shomron, Modi’in Ilit, Beitar Ilit, Emanual, GIvat Ze'ev, Alfei Menashe and Ariel, and to the Har Hevron, Mateh Binyamin, Megilot Dead Sea and Gush Etzion Regional Councils in the occupied West Bank.
The banks have also provided loans and banking services to the Golan Regional Council, which includes 33 settlements in the occupied Syrian Golan.
Har Hevron
As of July 2024, Mercantile Discount and Israel Discount Bank has a total of 11 active pledge agreements with the Har Hevron Regional Council in the occupied West Bank. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
In January 2024, Mercantile Discount signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
In July 2023, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreements indicate a NIS 2,447,897 and a NIS 2,241,278 loans received from the bank.
In October 2022, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreements mention a NIS 1,481,000 and a NIS 2,650,000 loans received from the bank.
In June 2021, Mercantile Discount signed two pledge agreements with the Har Hevron Regional Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral. The agreement mentions a NIS 1,300,000 and a NIS 2,140,000 loans received from the bank.
On 28 November 2023, the Har Hevron Local Council general assembly approved a NIS 750,000 loan from Discount Bank for 2024.
On 5 September 2023, the Har Hevron Regional Council general assembly approved a NIS 2,241,278 loan from Mercantile Bank for 15 years.
On 21 February 2023, the Har Hebron Regional Council general assembly approved a NIS 2,680,000 loan from Mercantile Bank branch in Beitar Ilit, and a NIS 1,750,000 loan from Discount Bank, according to the banks’ requirements, including pawning of the council's revenue as collateral.
On 6 December 2022, the Har Hebron Regional Council general assembly approved a line of credit for 2023 of NIS 2,700,000 from Mercantile Discount and NIS 1,750,000 from Discount Bank. In 2022, the Har Hebron Regional Council received a line of credit of NIS 1,980,000 from Mercantile Discount and NIS 1,750,000 from Discount Bank.
As of 17 January 2023, the Har Hevron Regional Council maintained 4 bank accounts in Mercantile Bank for 4 schools located in the settlements of Susya, Atniel and Sansana, which are under its jurisdiction.
Oranit
As of July 2024, Mercantile Discount has a total of 3 active pledge agreements with the Oranit Local Council in the occupied West Bank.
In June 2024, Mercantile Discount signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 950,000.
In March 2024, Mercantile Discount signed a pledge agreement with the Oranit Local Council for a period of 17 years (ends 2041) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 800,000.
On 28 March 2024, the Oranit Local Council general assembly approved the opening of an account in Mercantile Discount for the council for its ongoing activities.
On 21 November 2023, the Oranit Local Council general assembly approved a loan from Mercantile Bank of NIS 8.5 million for 15 years.
On 14 March 2023, the Oranit Local Council general assembly approved the budget for the purchase of a shelter in the amount of 1,053,000 NIS financed by Mercantile Bank, and a budget for the installation of solar panels on the roofs of public buildings in the settlement with the finance of a NIS 500,000 loan received from Mercantile Bank.
Elkana
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Elkana Local Council in the occupied West Bank.
In February 2024, Mercantile Discount signed a pledge agreement with the Elkana Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
On 14 January 2024, the Elkana Local Council approved a NIS 1 million loan for 2024 from Mercantile Discount Bank
On 19 March 2023, the Elkana Local Council decided to open an account at the Mercantile Discount Bank and work with the bank in all areas of operation as well as receive banking services according to the council's needs.
In December 2022, Mercantile Discount signed a pledge agreement with the Elkana Local Council for a period of 10 years (ends 2032) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,099,330.
Beit Aryeh-Ofarim
As of July 2024, Mercantile Discount has a total of 15 active pledge agreements with the Beit Aryeh Local Council in the occupied West Bank.
In December 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 3 September 2023, the Beit Aryeh-Ofarim Local Council approved NIS 2.5 million credit loans for 2024 from Mercantile Discount Bank.
In July 2023, Mercantile Discount signed two pledge agreements with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. One of the agreements mentions a loan received from the bank in the amount of NIS 300,000.
In June 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 750,000.
In April 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 17 years (ends 2040) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 700,000.
In March 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 8 years (ends 2031) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,036,549.
In January 2023, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 750,000.
In May 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 500,000.
In April 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 7,900,000.
In January 2022, Mercantile Discount signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 890,000.
On 7 December 2022, the Beit Aryeh-Ofarim Local Council approved a NIS 2.5 million credit loan for 2023 from Mercantile Discount Bank.
On 28 July 2022, the Beit Aryeh-Ofarim Local Council approved a NIS 2 million credit loans from Mercantile Discount Bank for the period between July and December 2022.
Har Adar
As of July 2024, Mercantile Discount has a total of 4 active pledge agreements with the Har Adar Local Council in the occupied West Bank.
In April 2024, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 12 years (ends 2036) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,100,000.
In December 2023, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
As of 13 December 2022, the Har Adar Local general assembly maintained two accounts at Discount Bank.
On 31 October 2023, the Har Adar Local Council general assembly approved taking a NIS 3,265,000 loan from Mercantile Discount Bank for 10 years.
In August 2022, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 7 years (ends 2029) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 400,000.
In April 2022, Mercantile Discount signed a pledge agreement with the Har Adar Local Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,610,000.
Megilot Dead Sea
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Megilot Dead Sea Regional Council in the occupied West Bank. The Megilot Dead Sea Regional Council provides services to 8 settlements in the northern Dead Sea area in the occupied West Bank.
In August 2018, Mercantile Discount signed three pledge agreements with the Megilot Dead Sea Regional Council for a period of 35 years (ends 2053) against all council’s current and future revenue and property as collateral. The agreements mention loans received from the bank in the amount of NIS 1,414,114, NIS 362,647 and NIS 1,978,687.
Mateh Binyamin
As of July 2024, Mercantile Discount and Israel Discount Bank has a total of 4 active pledge agreements with the Mateh Binyamin Regional Council in the occupied West Bank. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
In August 2018, Israel Discount signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 25 years (ends 2043) against all council’s current and future revenue and property as collateral. The pledge agreement guarantees coverage of all the council's debts, obligations and charges up to an amount of 130 million NIS.
Kedumim
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Kedumim Local Council in the occupied West Bank.
In March 2023, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 10 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,095,951.
In August 2022, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 6,200,000.
On 29 May 2022, the Kedumim Local Council general assembly approved a NIS 6.2 million loan from Mercantile Discount for 10 years against the council's revenues as collateral.
In April 2022, Mercantile Discount signed a pledge agreement with the Kedumim Local Council for a period of 10 years (ends 2032) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,100,000.
Kiryat Arba
As of July 2024, Mercantile Discount has 4 active pledge agreements with the Kiryat Arba Local Council in the occupied West Bank.
In February 2022, Mercantile Discount signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,850,000.
In October 2021, the Kiryat Arba Local Council general assembly decided to take out a NIS 1850,000 loan from Mercantile Discount Bank for a period of 10 years.
In April 2020, the Kiryat Arba Local Council general assembly decided to increase that was granted to it by Mercantile Bank with an additional NIS 1 million, making the total amount of the loan NIS 3 million.
Karnei Shomron
As of July 2024, Mercantile Discount has 5 active pledge agreements with the Karnei Shomron Local Council in the occupied West Bank.
As of February 2024, the Karnei Shomron Local Council maintains an account in Mercantile Bank.
In January 2024, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 4 years (ends 2028) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 550,000.
In July 2023, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,825,000.
In June 2022, Mercantile Discount signed a pledge agreement with the Karnei Shomron Local Council for a period of 11 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,025,561.
Modiin Ilit
As of July 2024, Mercantile Discount 4 active pledge agreements with the Modiin Ilit Municipality in the occupied West Bank.
In July 2023, Mercantile Discount signed a pledge agreement with the Modiin Ilit Municipality for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 4 million.
On 28 July 2022, the Modiin Ilit Municipality general assembly approved a 4 million NIS loan from Mercantile Bank for the renovation of roads.
Beitar Ilit
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Beitar Ilit Municipality in the occupied West Bank.
In August 2015, Mercantile Discount signed a pledge agreement with the Beitar Ilit Municipality for a period of 20 years (ends 2035) against the council’s current and future funds from the Israel Police in respect of a rental agreement.
In November 2010, Mercantile Discount signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2109) against all the council’s rights for funds from Isracard Ltd., the Ministry of Education, the Ministry of the Interior and the municipality's own receipts.
Gush Etzion
As of July 2024, Israel Discount Bank and Mercantile Discount Bank have a total of 10 active pledge agreements with the Gush Etzion Regional Council in the occupied West Bank. The Gush Etzion Regional Council provides services to 22 settlements in the occupied West Bank.
In July 2023, Israel Discount Bank signed a pledge agreement with the Gush Etzion Regional Council for a period of 20 years (ends 2043) against the council’s current and future revenue as collateral.
Also in July 2023, Mercantile Discount signed a pledge agreement with the Gush Etzion Regional Council for a period of 17 years (ends 2040) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 13,500,000.
In May 2022, Israel Discount Bank signed a pledge agreement with the Gush Etzion Regional Council for a period of 45 years (ends 2067) against the council’s current and future revenue as collateral.
In February 2021, Mercantile Discount signed a pledge agreement with the Gush Etzion Regional Council for a period of 13 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 7,900,000.
Emanual
As of July 2024, Mercantile Discount has 1 active pledge agreements with the Emanuel Local Council in the occupied West Bank.
In September 2023, Mercantile Discount signed a pledge agreement with the Emanual Local Council for a period of 10 years (ends 2033) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 1,573,934.
Givat Ze’ev
As of July 2024, Mercantile Discount has 2 active pledge agreements with the Givat Ze’ev Local Council in the occupied West Bank.
On 21 June 2022, the Givat Ze’ev Local general assembly approved the opening of an account at Mercantile Bank.
In February 2010, Mercantile Discount signed a pledge agreement with the Givat Ze’ev Local Council for a period of 20 years (ends 2030) against all the council’s rights for current and future funds from the Ministry of Education.
Ma’ale Adumim
On 16 January 2023, the Ma’ale Adumim Municipality general assembly approved a NIS 4 million loan from Discount Bank for managing the current cash flow of the municipality for 2023.
Discount Bank holds two pledge agreements with the Ma'ale Adumim Municipality ending 2105 and 2107. The bank holds as collateral the municipality's funds received from the residents.
Sha’ar Shomron
On 29 November 2023, the Sha’ar Shomron Local Council general assembly approved the opening of an account at Mercantile Discount Bank.
Golan Regional Council
As of July 2024, Mercantile Discount has 3 active pledge agreements with the Golan Regional Council. The Golan Regional Council includes 33 settlements in the occupied Syrian Golan.
In June 2023, Mercantile Discount signed a pledge agreement with the Golan Regional Council for a period of 14 years (ends 2037) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 5 million.
On 13 December 2022, the Golan Regional Council general assembly approved the opening of an auxiliary account at Mercantile Discount for the contractor for a youth club project in Yonatan settlement in the occupied Syrian Golan.
In July 2022, Mercantile Discount signed a pledge agreement with the Golan Regional Council for a period of 12 years (ends 2034) against the council’s current and future revenue as collateral. The agreement mentions a loan received from the bank in the amount of NIS 5 million.
Alfei Menashe
As of July 2024, Mercantile Discount has 3 active pledge agreements with Alfei Menashe Local Council.
In November 2020, Mercantile Discount signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2119) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 3.5 million.
In October 2020, Mercantile Discount signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2119) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 2,021,000.
Ariel
In June 2022, Mercantile Discount signed a pledge agreement with the Ariel Municipality for a period of 10 years (ends 2032) against all municipal revenues from all assets in its territory, including revenues from property taxes, fees and any other payments as collateral. The agreement mentions a loan received from the bank in the amount of NIS 3,877,679.
In December 2021, the Ariel Municipality general assembly decided on opening two new accounts in Mercantile Discount Bank for the municipality's activities.
In 2020, Mercantile Discount granted the Ariel Municipality a 15-year NIS 3,000,000 loan to complete the construction of a country club in the settlement.
Services to Settlements
In January 2024, Discount Bank financed the establishment of a new public transportation company operating in the occupied West Bank and East Jerusalem.
The company “Derech Egged”, a subsidiary of Egged Group, won the Ministry of Transportation tender to operate bus lines between Jerusalem and nearby areas, including Ramot and Givat Ze’ev settlement neighborhoods in occupied East Jerusalem and Beit Horon settlement and Ofer military camp in the occupied West Bank. Discount Bank granted Egged NIS 340 million for the purchase of new buses and additional investments to improve service, covering 90% of the investment required to establish the lines.
Branches in Settlements
Discount Bank and Mercantile Discount operate branches in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
Discount Bank operates branches in the settlement of Ma’ale Adumim in the occupied West Bank and the Ramat Eshkol settlement neighborhood in occupied East Jerusalem.
Mercantile Discount operates branches in the settlement of Beitar Ilit in the occupied West Bank, and the Ramot settlement neighborhood in occupied East Jerusalem.
Palestinian Captive Market
Discount Bank benefits from access to the Palestinian banking market as a captive market.
Under the Paris Protocol, the Palestinian economy is subjected to the Israeli currency and the Palestinian banking market's financial dealings with the rest of the world must go through the Israeli banking system. Palestinian banks have to rely on Israeli banks, which serve as correspondent banks, for fund transfers and clearing services, for which the bank requires deposit exorbitant cash collaterals and charges high commissions, and imposes restrictions on the transfer of money.
Discount Bank benefits from access to the Palestinian banking market as a captive market. The bank operates a branch in Sultan Sulayman Street in East Jerusalem.
Services to the Israeli Military
Israeli military Intelligence Campus (Kiryat Hatikshuv)
In August 2022, Discount Bank, together with Harel Insurance Investments and Financial Services, led the financing of the military’s Intelligence Campus project in the Naqab in the amount of NIS 4.2 billion.
The Israeli military Intelligence Campus (Kiryat Hatikshuv) is part of the Israeli Ministry of Defense relocation plan of the military technology units including the ICT Corps’ technology unit, the Air Force’s technology unit and the Southern Command headquarters, to the Naqab region.
The Campus is located near Likit junction, between Omer Industrial Park and the Palestinian Bedouin village of Lakiya. The campus spreads over 2,500,000 m2 to host the military’s Intelligence operations and house about 12,000 soldiers and officers of the Intelligence, Cyber and Technology units, as well as the headquarter units of the Intelligence Division.
Services to the Israel Police
In 2012, Discount Bank was the main financier in the amount of NIS 725 million of the Policity project for the National Police Academy campus and training facility for the Israel Police.
Ownership
The company is publicly traded on the Tel Aviv Stock Exchange under the ticker symbol: DSCT.
Major shareholders include: Harel Insurance Investments & Financial Services Ltd (7.47%), The Phoenix Holdings Ltd. (7.39%), Clal Insurance Enterprise Holdings Ltd. (6.85%), Meitav Investment House Ltd. (5.74%), I.B.I Investment House Ltd. (5.69%).
Chair of the Board of Directors: Danny Yamin
CEO: Avraham Levi
Subsidiaries
Fully owned subsidiaries: Mercantile Discount Bank Ltd., Discount Leasing Ltd., Discount Manpikim Ltd., Discount Trust Ltd., Discount Capital Ltd., Discount Mortgage for House Insurance Agency (2005) Ltd., Badal-Computer and Management Services Ltd., Israel Discount Bank Registration Company Ltd., Nidbach Real Estate & Investments Ltd., Zir Trading Company Ltd., Discount Bancorp Inc., Discount Reinsurance International Limited, Israel Discount Bank of New York, IDBNY Realty (Delaware), Inc., IDB Realty LLC, Diners Club Israel Ltd., C.A.L (Financing) Ltd., Israel Discount Bank of New York U.S.A (100%), IDB Real Estate Holdings Inc. (100%).
Additional subsidiaries: Greenland Ltd. (70%), Israel Credit Cards Ltd. (71.83%), Tafnit Discount Asset Management Ltd. (69%), Paybox Ltd. (50.1%), Bank Vault Co. Ltd. (50%), Bank Clearing Center Ltd. (25%), Casponet Ltd. (20%), Hopon Mobility Israel Ltd (20%), Unitech Technologies Ltd. (20%), FIMI Opportunity Fund L.P. (20%).
Partners
Egged, Harel Insurance Investments and Financial Services
* This section refers to the company's general business partners