Israel Discount Bank (TASE: DSCT) is taking a customer-oriented move and will open 100 branches - 72% of all branches - on Fridays.
The bank said that it was expanding its service operations on Fridays "in order to suit the hours of activity of the bank's customers, who use their day off to conduct bank business."
Israel's other banks operate a much smaller proportion of their branches on Friday, ranging from 17% to 54%. A survey by Discount Bank found that 64% of the public want their bank branch to be open on Fridays. 47% of respondents were dissatisfied with the opening hours of their bank branch. Last year, Discount Bank extended the hours at some branches to 8 pm.
Discount Bank executive VP human resources group Eli Hoter told "Globes", "The bank must adapt to the customer, not the customer to the bank.
Discount Bank, controlled by the Bronfman-Schron group, has a 17% share of Israel's banking market. A few years ago, it launched a strategy to increase its share of the retail banking market.
Published by Globes [online], Israel business news - www.globes-online.com - on November 5, 2008
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