The bank is abolishing one of its regional management centers and closing eight branches.
Israel Discount Bank announced today that it was abolishing one of its six regional management centers. The bank’s 124 branches will be reorganized into five geographical areas: Tel Aviv; the Sharon; the coastal plain and South Tel Aviv; Haifa and the north; and Jerusalem and the south.
Thirty branches will have been merged by the end of 2003: 22 have been merged in the past two-and-a-half years, and eight more branch mergers are planned for the coming year.
These moves are part of a multi-year streamlining plan which aims at implementing continuous and consistent efficiency measures in all the bank’s activities, involving reductions in operating expenses, streamlining procedures, and raising awareness of the need to cut costs. Discount Bank said that there would also be a restructuring at its head office.
Published by Globes [online] - www.globes.co.il - on December 24, 2002