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5 January 2009
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More than 1/3 of Public Sector employees have joined Discount Bank since winning the tender to provide banking services to this sector
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Discount Bank has recruited a total of 50,844 Public Sector retail customers.
90% of Public Sector employee accounts are “active accounts”.
Almost 50% of those joining have transferred their salary to Discount Bank.
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Israel Discount Bank has recruited a total of 50,844 public sector customers,
representing 1/3 of the population in this sector, after about 3,000 new accounts were opened in December 2008.
In some government offices, the rate of employees joining Discount Bank has reached 50%.
There have also been impressive results in the recruitment of pensioners from this sector,
who are also entitled to the same terms and conditions offered by the Bank.
About a year and a half ago, Israel Discount Bank won the tender to provide banking services to the public sector and which includes a unique package of benefits and services including, among others,
government-funded subsidized loans at the rate of interest set by the Accountant-General (2.4% as at 1.1.09).
It should be noted that Discount Bank has been granted exclusivity in granting these loans and which the bank has supplemented by providing in addition:
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• A network of 140 branches and service points across the country.
• Extended opening hours for many branches (from 08:00 to 20:00) as well as more than 100 branches open on Fridays.
• The possibility of managing accounts at the same Bank for family members and acquaintances who are not themselves public sector employees.
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Almost 50% of public sector clients have transferred their salary to Discount Bank,
and more than 90% of these accounts are already “active current accounts”.
The bank views this sector as being “high-quality retail clients” in that these are individuals receiving a regular salary from the government,
a large number of them have diversified investments, as well as additional loans funded by the Bank. Most of these clients are also active users of credit cards.
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In view of the Bank's unprecedented success in this sector,
Discount Bank has begun granting the same conditions to additional retail clients employed by other government-related entities such as the Bank of Israel,
Israel Securities Authority, Israel Broadcasting Authority, research funds, doctors, etc.
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About Israel Discount Bank
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Israel Discount Bank is the third largest bank and a leading financial group in Israel. With nationwide coverage, and a strong and growing domestic franchise, Israel Discount Bank provides a full spectrum of corporate and retail financial products and services to its clients, both in Israel and key financial centers around the world. Israel Discount Bank is a member of and is traded on the Tel-Aviv Stock Exchange under the ticker DSCT. For additional information, please visit the Company’s investor relations website at www.discountbank.co.il/IR
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Investor Relations Contact
Barry Simon
Investor Relations
Tel: +972 3 5146593
barry.simon@discountbank.co.il
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