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Discount Bank Explores Merger with Mercantile Bank, Plans Branch Closures and Job Cuts

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דווח לראשונה בGlobes · יולי 13, 2026

מה קרה

Discount Bank has authorized management to explore merging with its subsidiary Mercantile Bank, aiming to boost competitiveness and efficiency. The merger could lead to hundreds of job cuts and branch closures, pending labor agreements. Mercantile serves niche sectors and has shown declining profits, while Discount Bank seeks to improve its operational cost ratio. The bank awaits regulatory approval for related asset sales.

01Discount Bank's board authorized exploring a merger with Mercantile Bank to enhance competitiveness.
02Mercantile employs 1,500 staff in 74 branches, focusing on Arab, Haredi, and small business sectors.
03The merger could result in hundreds of job cuts and dozens of branch closures, subject to union agreements.
04Mercantile's Q1 2026 net interest income fell 6%, net profit declined 13%, signaling financial pressure.
05Discount Bank has the highest cost-to-income ratio among Israeli banks, prompting efficiency efforts.
06The bank awaits regulatory approval for selling its 72% stake in credit card company CAL.

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