Israel Discount Bank Announces Second Quarter Financial Results and a 5-year Strategic Plan

- Basel III Capital Adequacy Ratio reached 9.2%

TEL-AVIV, Israel, Aug. 20, 2014 /PRNewswire/ -- Israel Discount Bank (TASE: DSCT) today announces its financial results for the second quarter of 2014.

Logo - http://photos.prnewswire.com/prnh/20120820/554838

Main Highlights of Q2-14 compared to Q1-14:

Key Factors impacting Q2-14 results:

Strategic Plan:

On August 20, 2014, the Board of Directors approved the Discount Group's strategic plan for the years 2015-2019. The plan encompasses all of Discount Group's spheres of activity, taking a pragmatic view of the group's strengths and challenges. In the opinion of the Bank's management, implementation of the plan will lead to a double digit CAGR in net income, during the 5 year program, placing the Discount Group at the forefront of the banking system in Israel by the end of the plans' period.

The plan has been constructed on three central pillars:

Cost Reduction:

Growth:

Change organizational culture:

Conference call Information - The Bank will be hosting a conference call today at 16:00 (Israel); 14:00 (UK); 09:00 (EDT), during which management will review the results and the strategic plan and be available to answer questions.  

The conference call will be accompanied by a WEBEX presentation, which can be accessed through our IR website- www.discountbank.co.il/IR

Company Contact
Tamar Koblenz
Head of Investor Relations
Tel: +972-3-5146593
[email protected]