A new industrial and commercial bank, in which Argentine Jewish shareholders of the Agrobank Buenos Aires and the Koor Industries of Israel are equal partners, was announced here today. The Agrobank was merged into the new bank.
The new bank has a capital of 1, 000, 000 Israel pounds which makes it possible for Latin American investors to use the bank’s facilities for current transactions with Israel. Alfredo Korn, president of the new bank, and Moises Rabinovich, board member, s id the new institution plans to open branches in various Argentine cities.
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