32°04′22.62″N 34°47′21.41″E / 32.0729500°N 34.7892806°E
Company type | Public |
---|---|
TASE: DSCT | |
Industry | Banking Financial services |
Founded | 16 September 1924(as Palestine Mercantile Bank) |
Headquarters | , |
Products | consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards |
Parent | Israel Discount Bank |
Website | www |
Mercantile Discount Bank (Hebrew: בנק מרכנתיל דיסקונט בע"מ) is a major commercial bank in Israel and is a subsidiary of Israel Discount Bank. It is the sixth-largest bank in Israel.[citation needed]
See also: List of companies operating in West Bank settlements |
On 12 February 2020, the United Nations published a database of companies doing business related in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights.[1] Mercantile Discount Bank was listed on the database on account of its activities in Israeli settlements in these occupied territories,[2] which are considered illegal under international law.[3]
In 2021, MDB and its parent company IDB reached a settlement of ₪343 million (A$137 million) with the Australian Taxation Office after allegedly conspiring with the Sydney-based Binetter family to engage in tax fraud.[4]