Other Senior Executives
Senior Executive Vice President, Head of the Subsidiaries Division
Nir Abel, Certified Public Accountant
Executive Vice President, Chief Internal Auditor and Head of the Internal Auditing Division
Executive Vice President, Head of the Corporate Banking Division
Executive Vice President, Head of the Planning, Strategy and Finance Division
Senior Executive Vice President, Chief Accountant and Head of the Accounting Group
Executive Vice President, Head of the Banking Division
Executive Vice President, Head of the Human Resources and Assets Division
Esther Deutsch, Advocate
Senior Executive Vice President, Chief Legal Advisor and Head of the Legal Advisory and Reg-ulations Group
Executive Vice President, Head of the Technologies and Operations Division
Senior Executive Vice President. Chief Risk Officer and Head of the Risk Management Group
Executive Vice President, Head of the Financial Markets Division
Executive Vice President, Head of the Digital and Data Division
Formation of the”Spirit of Discount”
In addition to its business activities, in 2017, the Bank launched the “ Spirit of Discount”, which includes the Bank’s vision, values, and ethical code. The Bank aspires to be the best bank for its customers, enabling long-term growth and financial stability through tailored, professional and fair banking.
In December 2017, the Bank’s Board of Directors approved a dividend policy according to which, from the first quarter of 2018, the Bank will distribute a dividend of up to 15% of its net profit that is available for distribution, according to its consolidated financial statements for the previous quarter.
Discount Group Holdings
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 76 branches; ICC the credit card company, of which the Bank holds 71.8% of its shares; and Discount Capital, active in in-vestments, investment banking and underwriting. The Group operates abroad via its American subsidiary, IDB New York, the largest Israeli bank operating overseas, with branches in the New York region, Florida, and California. IDBNY’s focus is on the business-commercial sector and private banking. Israel Discount Bank is a public company, and its securities are publicly traded in the Tel Aviv Stock Exchange. All shares of the Bank are held by the public (without any core controlling interest). The Bank offers its customers comprehensive banking services through 109 branches1.
The Bank’s operations are conducted within five principal
Households Segment – This segment, together with the small-business segment, is the primary growth engine in the Bank’s strategic plan. The household segment strategy is based on three primary pillars: deepening the relationship with existing customers, focusing on growth products and engines, and improvement of the retail infrastructure, including the service model and cus-tomer experience. This segment includes private customers of the Banking Division of Discount Bank and MDB. At their disposal are professional consulting set-ups, including investment con-sulting at the branches, and at the investment centers, as well as pension consulting services at selected branches.
Small and Very Small Sized Business Segment – This segment includes small companies and businesses with a small turnover at the Bank and at Mercantile Discount Bank. Service to cus-tomers 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 unique “business key” in the market, which provides benefits when purchasing products for the home and business. Custom-ers also have a range of attractive financing tracks, small business funds to finance investment and growth, a dedicated trading room that provides a variety of tailored foreign exchange ser-vices.
Medium Sized Business Segment – This segment includes companies with a medium turnover. Also included are customers of Mercantile Discount Bank and commercial banking services 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 in-vestments, 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 unique arrangements for their employees.
Large Business Segment – This segment services large business customers at Discount Bank, financial institutions and institutional customers of the Bank’s Corporate Division, large business customers of Mercantile Discount Bank 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 division of the Corporate Division. Each team represents a single bank address for all business needs of the business customer, including finding creative finan-cial 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 Division, which also pro-vides solutions to complex transactions of investments in national infrastructures, such as ener-gy, desalination plants, water and toll roads. The financing solutions available to customers in-clude syndication transactions with institutional investors and banking entities. Institutional cus-tomers and capital market operators receive credit allocation services and related services, such as brokerage, investment counseling and securities shorting.
Private-banking Segment – This unique segment includes private banking customers at Dis-count Bank, Israelis and foreign residents with financial wealth. The segment also includes cus-tomers with average and high financial wealth at Mercantile Discount Bank and private banking customers at IDB New York. The service to Israeli customers at Discount Bank is provided at four designated centers and seven branches in a wide geographical area. Customers with moderate financial wealth are offered consulting services by the Bank’s best advisors. Customers with high financial wealth can be serviced by experienced bankers and consultants.
Customers enjoy personal service which is readily available throughout the day. International customer service is available in Tel Aviv and Netanya.
Digital Innovation and Fintech
The Bank adapts itself to the changing world and takes steps to create innovative banking mod-els that will provide customers with advanced and tailored service. Within this framework, during 2017 the Bank signed cooperation agreements with various Fintech companies, such as Pay-Box, and iCount. The Bank purchased Paybox’s Israeli operations and became a significant player in the area of payments with individual customers from all banks in Israel. The cooperation with iCount, which is intended for small business customers handled by the Banking Division, is the first business-technological appl in the banking system in Israel, which uses an open bank-ing approach to the interface with third-party suppliers, which is applied through an advanced platform – API (Application Programming Interface), which allows for a secure connection to the global standard basis. In addition, as part of the advancement of innovation, during 2017 the Bank initiated, developed and launched its new and very sophisticated user-friendly app ena-bling customers to make transactions, access information and gain insight into their account ac-tivity 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 system.
In addition, in 2018 a new Digital and Data Division was launched. Its goal is to cultivate and maintain a holistic view of the worlds of digital, data and innovation while intensifying the man-agerial focus on the subject. Beyond that, the Bank completed a roll-out of advanced and varied communication channels in all of its branches. This provides quick and available services across multiple innovative channels that are tailored to the customers needs.
Involvement and Community Contributions
Since its establishment, the Bank has been active for the community as part of its social and cul-tural business commitment. Many employees participate in various volunteer activities in their free time. The Bank contributes to many non-profit organizations, with an emphasis on children and youth education. The “Discount Start-up” is the flagship project supported by the Bank and is a member of the “Start-Up to the Future” organization, whose main goal is to help students from the periphery complete their studies with a full matriculation certificate. In addition, the Bank op-erates through various cultural and artistic projects and provides sponsorships. “Herzelienblum” – a private museum of banking and nostalgia in Tel Aviv, allows visitors to learn about the history and the Israeli economy since the beginning of the last century. The museum, established by Discount, was recognized as a heritage site by the Council for the Preservation of Israel Heritage Sites.
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