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Mercantile Discount Bank

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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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
Founded1971; 53 years ago (1971)
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 (Template:Lang-he) 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]

Controversy

In 2021, MDB and its parent company IDB reached a settlement of ₪343 million (A$137 million) with the Australian Tax Office (ATO), after allegedly conspiring with the Sydney-based Binetter family to engage in tax fraud.[1]

References

  1. ^ 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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