An Israeli commercial bank.
Israeli construction on occupied land:
In 2021, Discount Bank granted the company Shitrit Ayalon a loan for a construction project on 4,500 meters in the settlement of Beitar Ilit, after the company won the tender יש\2021\10 with the Israeli Land Authority. The bank holds as collateral the company’s contractual and rights to the land and project.
In 2020, the bank granted the company Shoham Engineering a loan for its project with the Company for the Rehabilitation of the Jewish Quarter ltd. The project included infrastructure work for the Jewish Quarter in the old city of Jerusalem. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2017, Who Profits documented the vast involvement of the bank in settlement construction. The report showed that the bank accompanied construction projects in the following settlements: Gilo, Neve Ya’akov, Alfei Menashe, Ariel and Mishor Adumim. Some of the projects were constructed by companies profiled on our database, such as Kotler Adika and Z.M.H Hammerman. Follow this link to read Who Profits’ full report about the involvement of the Israeli banks in the settlement enterprise from February 2017.
Services to settlement local and regional councils:
Discount’s subsidiary, Mercantile Bank, provided a NIS 4,622,298 loan for sewage infrastructure projects for the Megilot Dead-Sea regional council.
In October 2021, the general assembly of the Kiryat Arba local council agreed to take out a NIS 1850,000 loan from Mercantile Discount Bank for a period of 10 years.
In December 2021, the general assembly of the Ariel settlement municipality decided on opening two new accounts in Mercantile Discount Bank for the municipality’s activities with Mifal HaPais.
In 2020, the municipality of Ariel settlement was granted a 15-year NIS 3,000,000 loan form Mercantile Discount Bank for the completion of the country club in the settlement.
In April 2020, the general assembly of Kiryat Arba settlement local council decided to increase the loan it was given by Marcantile Bank with an additional NIS 1 million, making the total amount of the loan NIS 3 million.
Mercantile Discount bank holds a 15-year (ends in 2030) agreement with Givat Ze’ev settlement local council. The bank holds as collateral all of the council’s revenues generated from funds received from Isracard and Israeli Credit Cards Ltd. The bank holds another 20-year agreement (end in 2030) with the council. It holds as collateral the council’s funds that are received from the Ministry of Interior.
Discount Bank holds a 99-year (ends in 2105) agreement with Ma’ale Adumim settlement municipality. The bank holds as collateral the municipality’s funds that are received from the residents. The bank also holds a 99-year agreement (ends in 2107) with the municipality. It holds as collateral all of the municipality’s funds that are received from any source, except water and sewage.
In 2017, Who Profits documented the broad involvement of the bank in providing services to settlement local and regional councils. The report has shown that the provided services to the following settlements: Gush Etzion regional council and Har Hevron regional council. See here to read the full report about the involvement of the Israeli banks in the settlement enterprise from February 2017.
Branches in settlements:
Discount bank operates a branch in the settlement of Ma’ale Adumim in occupied West Bank and the settlement neighborhood of Ramat Eshkol in occupied East Jerusalem.
The bank’s subsidiary, Mercantile Bank, operates a branch in the settlement neighborhood of Ramot in occupied East Jerusalem, and the settlement of Beitar Ilit in the occupied West bank. It also benefits from access to the Palestinian monetary market as a captive market. It operates a branch in Salah al-Deen Street in East Jerusalem.
Shareholders holding 5% or more of the bank’s shares: Meitav Dash Investments Ltd.; Harel Investments in Insurance and Financial Services Ltd.; Hapheonix Holdings Ltd.; Excellence Investments Ltd.; Clal Holdings Insurance Business Ltd.
Shareholders holdings between 2.5%-5% of the shares: Altshuler Shaham Ltd.; Psagot Investment House Ltd.; Menorah Mivtachim Investment Group Ltd.; Migdal Holdings Insurance and Finances Ltd.; Blackrock Inc.; The Vanguard Group.
Chairman of board of directors- Shaul Kubrinski
CEO- Uri Levin
Bancorp Discount, Inc. (100%); Israel Discount Bank of New York (100%); Mercantile Discount Bank Ltd. (100%); Israel Credit Cards Ltd. (71.83%); Discount Capital Ltd. (100%); Discount Manpikim Ltd. (100%); IDBNY Reality (Delaware), Inc. (100%); IDB Reality LLC (100%); Diners (Club) Israel Ltd. (71.83%); C.A.L (Financing) Ltd. (71.83%); Tafnit Discount Asset Management (100%); Discount Capital Underwriting (64.23%); Paybox Ltd. (50.1%).
All the information contained in this page is valid until Wed 09/03/2022