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Israel Discount Bank Announces Fourfold Rise in Assets in Five Years

Israel Discount Bank, Ltd., announced today that its total assets had topped 1,000,000,000 Israeli pounds ($333,333,333). The bank, second largest of the 26 commercial banks in Israel, had total assets of 260,000,000 pounds ($86,000,000) five years ago.

Officials attributed the growth record in part to the bank’s 100th and largest branch, its office in New York City, now starting its third years of operations.