Other Senior Officers
Executive Vice President, Chief Internal Auditor and Head of the Internal Audit Division
Senior Executive Vice President, Comptroller, Chief Accountant and Head of the Accounting Division
Senior Executive Vice President, Head of the Corporate Division2
Executive Vice President, Head of the Banking Division2
Senior Executive Vice President, Head of the Group Management and Regulation Division
Yaakov (Yakki) Zano
Executive Vice President, Head of the Technologies and Operations Division
Senior Executive Vice President, Chief Risk Officer and Head of the Risk Management Division
Executive vice president, Chief Legal Advisor and Head of the Legal Advisory Division
Executive Vice President, Head of the Planning, Strategy and Finance Division2
Executive Vice President, Head of the Financial Markets Division
Executive Vice President, Head of the Digital and Data Division
Integration of the “Discount Spirit”
Alongside its business activities, the Bank continues to integrate the “Discount Spirit”, which includes the Bank’s Vision, Values, and Code of Ethics. Following is the Vision: We shall endeavor to become the best Bank for its customers, permitting over a period of time, growth and financial solidity by means of adapted, professional and fair banking.
Starting with the first quarter of 2018, the Bank, after a period of over twenty years, has returned to a dividend distribution on a quarterly basis.
Discount Group Activity
Discount Bank is a public company, traded on the Tel Aviv Stock Exchange. All shares of the Bank are held by the public (without any core controlling interest). Discount Bank offers its customers comprehensive banking services through 105 branches
The Group’s holdings include Mercantile Discount Bank (MDB) – a commercial bank specializing, inter alia, in small-business services and products through a chain of 75 branches; ICC the credit card company, of which the Bank holds 71.8% of its shares; and Discount Capital, active in investments, investment banking and underwriting. The Group operates abroad via IDB New York, the largest Israeli bank operating overseas, with branches in the New York region, Florida, and California, and its activity focus on the business-commercial sector and private banking
The Bank’s operations are conducted within five principal Segments of Operation:
Households Segment – This segment includes private customers of Discount Bank and of MDB, at the disposal of which are a nationwide branch network, a telephone call center that deals also with written approaches, and leading digital channels. Also available to customers are professional consulting arrays, including: mortgage consulting, investment consulting at the branches, at consulting centers, at investment banking and private banking, as well as pension consulting services at the branches.
Small and Minute Business Segment – Service to customers of this segment are provided through business banking teams, at the Bank’s branches, and provide a “one-stop shop” service for all their business and private activities. Customers also benefit from a dedicated website, a package of SMS services and a “business key” credit card which is unique in the market, which provides benefits when purchasing products for the home and business. Customers also have a range of attractive financing tracks, small business funds to finance investment and growth, a designated commercial trading room that provides a variety of tailored foreign exchange services. In addition, the Bank provides its clients with business management tools that streamline their business and financial management. In addition, the Bank offers its customers tools for the management of their business, which make their business and financial conduct more efficient through the use of iCount.
Medium Business Segment – This segment includes companies with a medium turnover. Also included are customers of MDB and the commercial banking of IDB New York. The service to segment customers at Discount Bank is provided through five business centers located nationwide, through teams that include: business bankers, economists, credit coordinators and a team that provides loans and guarantees. This diverse team provides personal, professional and comprehensive services that address all financial needs, including credit solutions, currency hedging, risk hedging, credit card clearing, financing, specialized investments, international trade and more. In addition, the business centers also offer solutions to the financial needs of the company owners and managers, as well as designated arrangements for their employees.
Large Business Segment – This segment includes large business customers at Discount Bank, financial institutions and institutional customers of Discount Bank, large business customers of MDB and customers of the IDB New York Corporate Banking segment. The financial support of the large companies is done through the business managers teams of the large companies wing of the Corporate Division. Each team represents a single bank address for all business needs of the business customer, including finding creative financial solutions and banking products in the areas of credit, currency hedging, international trade, credit card clearing, specialized investments in the capital market and more. Customers involved in real estate receive services from the real estate and infrastructure wing, which also provides solutions to complex transactions of investments in national infrastructures. The financing solutions available to customers include syndication transactions with institutional investors and banking entities. Institutional customers and capital market operators receive from the capital market wing credit allocation services and related services – brokerage, investment counseling and securities lending.
Private banking Segment – This unique segment includes private banking customers at Discount Bank, Israelis and foreign residents with financial wealth. The segment also includes customers with average and high financial wealth at MDB and private banking customers at IDB New York. The service to Israeli customers at Discount Bank is provided at four designated centers and seven extensions in a wide geographical area.
Customers enjoy personal service which is readily available during especially long business hours. International customer service is provided in Tel Aviv and Netanya.
Fintech and Innovation
The Bank adapts itself to the changing world and takes steps to create innovative banking models that will provide customers with advanced service tailored to their needs. The Bank purchased the Israeli operations of Paybox, thus becoming a significant player in the field of payments, continuing the expansion of this operation by means of the Application and the Internet website with individual customers of all banks in Israel. Within this framework, the Bank has integrated into the Paybox Application the solution provided by HopOn Mobility Ltd. for the recharge of the Rav-Kav card, so that users of Paybox are able to recharge the Rav-Kav card used by them by means of the Application. In addition, the Bank has recently introduced a designated area in the Application enabling the transfer of donations to a variety of non-profit organizations.
Discount Bank was the first bank within the banking sector in Israel, which as part of the cooperation with iCount had applied the open banking approach to the interface with third-party suppliers, by means of one of the advanced platforms in the world – API (Application Programming Interface). The Bank is preparing to enlarge the open banking platform by introducing an API shop inviting third parties to interface with the Bank in order to be able to consume a variety of banking services through API in a controlled and secured manner. This innovative move, the first of its kind in the banking sector in Israel, implements in practice the open banking concept, comprising a central layer of future banking in Israel and the world over. The Bank continues to innovate and add features to “Didi-the digital assistant on the Discount Application” enabling customers to make transactions, access information and gain insight into their account activity through a simple, written or spoken request. The service is based on advanced analytical and artificial intelligence capabilities and is the first of its kind in the banking sector.
Involvement and Contribution to the Community
Since its establishment, the Bank has been active for the community as part of a comprehensive managerial concept, which sees in this activity a part of a business, social and cultural commitment. Many employees participate in different and varied volunteer activities, and many units adopt long-term voluntary centers, all this in the free time of the employees. The Bank contributes to many non-profit organizations, with an emphasis on education of children and youth in risk situations and cooperates with different social organizations.
In 2005 the Bank joined the “Sprint to the Future” association with the aim of advancing education in geographic and social peripheral areas in Israel, in aid of all sectors of society. Since then, the “Sprint Discount” is the flagship project of the Bank and the cooperation is conducted by way of the varied programs of the association. In addition, the Bank operates through various cultural and artistic projects and provides sponsorships.
1 As at November 15, 2019 2 As at January 1, 2020. The appointment is subject to approval of the Supervisor of Banks Photography: Rami Zerniger
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