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Coordinates: 32°04′22.62″N 34°47′21.41″E / 32.0729500°N 34.7892806°E / 32.0729500; 34.7892806
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{{Short description|Bank in Israel}}
{{Short description|Commercial bank in Israel}}
{{About|the commercial bank in Israel|other banks with similar names|Mercantile Bank (disambiguation)}}
{{About|the commercial bank in Israel|other banks with similar names|Mercantile Bank (disambiguation)}}
{{unreferenced|date=February 2019}}
{{refimprove|date=December 2021}}

{{Coord|32|04|22.62|N|34|47|21.41|E|display=title|type:landmark}}
{{Coord|32|04|22.62|N|34|47|21.41|E|display=title|type:landmark}}
{{Infobox company
{{Infobox company
| name = Mercantile Discount Bank Ltd.
| name = Mercantile Discount Bank Ltd.
| logo = File:Africa-Israel on Begin Road.jpg
| logo=
| image = Africa-Israel on Begin Road.jpg
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{TASE|DSCT}}
| traded_as = {{TASE|DSCT}}
| foundation = {{start date and age|1971}}
| foundation = {{start date and age|1924|9|16|df=y}} {{small|(as Palestine Mercantile Bank)}}
| location_city = [[Kirya Tower]], [[Tel Aviv]]
| location_city = [[Kirya Tower]], [[Tel Aviv]]
| location_country = [[Israel]]
| location_country= [[Israel]]
| key_people =
| key_people=
| industry = [[Banking]]<br> [[Financial services]]
| industry = [[Banking]]<br> [[Financial services]]
| products = [[Retail banking|consumer banking]], [[Commercial bank|corporate banking]], [[Financial services|finance and insurance]], [[investment banking]], [[mortgage loan]]s, [[private banking]], [[private equity]], [[savings]], [[Securities]], [[asset management]], [[wealth management]], [[Credit card]]s
| products = [[Retail banking|consumer banking]], [[Commercial bank|corporate banking]], [[Financial services|finance and insurance]], [[investment banking]], [[mortgage loan]]s, [[private banking]], [[private equity]], [[savings]], [[Securities]], [[asset management]], [[wealth management]], [[Credit card]]s
| divisions =
| divisions=
| revenue =
| revenue=
| operating_income =
| operating_income=
| net_income =
| net_income=
| num_employees =
| num_employees=
| parent = [[Israel Discount Bank]]
| parent = [[Israel Discount Bank]]
| subsid =
| subsid=
| homepage = {{url|https://www.mercantile.co.il/}}
| homepage = {{url|https://www.mercantile.co.il/}}
}}
}}
'''Mercantile Discount Bank''' ({{lang-he|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]].{{cn|date=July 2021}}
'''Mercantile Discount Bank''' ({{langx|he|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]].{{cn|date=July 2021}}

==Controversies==
=== Involvement in Israeli settlements ===
{{See also|List of companies operating in West Bank settlements}}

On 12 February 2020, the [[United Nations]] published a [[List of companies operating in West Bank settlements|database]] of companies doing business related in the [[West Bank]], including [[East Jerusalem]], as well as in the occupied [[Golan Heights]].<ref>{{cite web|url=https://reliefweb.int/report/occupied-palestinian-territory/database-all-business-enterprises-involved-certain-activities|title=Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)|date=12 Feb 2020|publisher=UN OCHA|access-date=2021-09-12}}</ref> Mercantile Discount Bank was listed on the database on account of its activities in [[Israeli settlement|Israeli settlements]] in these occupied territories,<ref name=unlist_ohchr>{{cite news |date=12 February 2020 | title=UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory | url=https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=25542 |work=[[Office of the United Nations High Commissioner for Human Rights]] | access-date=5 July 2021}}</ref> which are considered [[International_law_and_Israeli_settlements|illegal under international law]].<ref name=unsc2334>{{cite news |date=23 December 2016 | title=S/RES/2334(2016) | url=https://undocs.org/S/RES/2334(2016) |work=[[United Nations Security Council]] | access-date=5 July 2021}}</ref>


===Tax fraud affair in Australia===
==Controversy==
In 2021, MDB and its parent company IDB reached a settlement of ₪343 million ([[Australian dollar|A$]]137 million) with the [[Australian Tax Office]] (ATO), after allegedly conspiring with the [[Sydney]]-based Binetter family to engage in [[tax fraud]].<ref>{{cite news|url=https://www.afr.com/companies/financial-services/ato-wins-137m-from-binetters-israeli-banks-after-16-year-pursuit-20210201-p56yhq|title=ATO wins $137m from Binetters’ Israeli banks after 16-year pursuit|first=Neil|last=Chenoweth|date=1 February 2021|access-date=29 July 2021|newspaper=Australian Financial Review}}</ref>
In 2021, MDB and its parent company IDB reached a settlement of ₪343 million ([[Australian dollar|A$]]137 million) with the [[Australian Taxation Office]] after allegedly conspiring with the [[Sydney]]-based Binetter family to engage in [[tax fraud]].<ref>{{cite news|url=https://www.afr.com/companies/financial-services/ato-wins-137m-from-binetters-israeli-banks-after-16-year-pursuit-20210201-p56yhq|title=ATO wins $137m from Binetters' Israeli banks after 16-year pursuit|first=Neil|last=Chenoweth|date=1 February 2021|access-date=29 July 2021|newspaper=[[Australian Financial Review]]}}</ref>


==References==
==References==

Latest revision as of 10:21, 1 November 2024

This article is about the commercial bank in Israel. For other banks with similar names, see Mercantile Bank (disambiguation).

32°04′22.62″N 34°47′21.41″E / 32.0729500°N 34.7892806°E / 32.0729500; 34.7892806

Mercantile Discount Bank Ltd.
Company typePublic
TASE: DSCT
IndustryBanking
Financial services
Founded16 September 1924; 100 years ago (1924-09-16) (as Palestine Mercantile Bank)
Headquarters
Kirya Tower, Tel Aviv
,
Israel
Productsconsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards
ParentIsrael Discount Bank
Websitewww.mercantile.co.il

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]

Controversies

[edit]

Involvement in Israeli settlements

[edit]
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]

Tax fraud affair in Australia

[edit]

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]

References

[edit]
  1. ^ "Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)". UN OCHA. 12 Feb 2020. Retrieved 2021-09-12.
  2. ^ "UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory". Office of the United Nations High Commissioner for Human Rights. 12 February 2020. Retrieved 5 July 2021.
  3. ^ "S/RES/2334(2016)". United Nations Security Council. 23 December 2016. Retrieved 5 July 2021.
  4. ^ Chenoweth, Neil (1 February 2021). "ATO wins $137m from Binetters' Israeli banks after 16-year pursuit". Australian Financial Review. Retrieved 29 July 2021.
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