Israel Discount Bank Reports a 19 Percent Increase in 1969 Assets over 1968

The Israel Discount Bank reported today that its total assets at the end of 1969 amounted to $925,562,810 an increase of 19 percent over the previous year. Net earnings amounted to $3,522,684, an increase of 23 percent over 1968. Net earnings for each ordinary share was $1.01 compared to 82 cents in 1968 after giving effect to a one for four stock split. A cash dividend of 40 cents for each ordinary share was paid on January 6. The bank also reported that three new branches were opened by the bank in Israel last year bringing the total to 110. In addition, the bank maintains two branches in New York and last month established a branch in the Bahamas.