Israel Bank Discount of New York opens for business in Florida

Israel Discount Bank of New York has acquired the banking activity of a bank in Florida, Ma'ariv reports.

The acquisition includes the bank's loans portfolio and deposits.

Until now the Israel Discount Bank of New York's Florida operations were carried out through a representative. The bank first commenced operations outside New York a year ago, by buying a bank in Beverly Hills. It also runs a subsidiary, Discount Bank (Latin America), operating out of Montevideo, Uruguay.

The bank is an indirect subsidiary of Israel Discount Bank.