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Israel Discount Bank Has Reasonable Quarter

Israel Discount Bank reported profits of NIS 427 million for the third quarter of 2019, which was down 2.7% from the third quarter of 2018. On the other hand, for the first three quarters of the year, the bank earned NIS 1,377 million, which represents a 16.6% increase. Bank Discount’s return on equality for the first three quarters was 10.4%, while the return on equity for this past quarter was 9.7%. The Bank announced it would distribute 15% of the profits as a dividend.

As compared to the end of the third quarter of 2018, Bank Discount has increased its lending to the public by 7.6%. The Bank also increased its mortgages by 13.4% and its income from fees increased by 4.8%. Bank Discount also had a 2.8% increase in its operating expenses.

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