Israel Discount Bank is mulling options over a sale of its loss-making private-banking business in Switzerland, IDB (Swiss) Bank, TheMarker reports.
The Geneva-based bank posted an ILS9m ($2.45m) loss last year, up from ILS7m a year earlier.
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In 2013, Discount has shut down its Zurich operations after merging its Arzi Bank with IDB (Swiss) Bank. Israel Discount Bank acquired Arzi for CHF 40.5m in December 2008.
The bank has been scaling down its overseas operations to boost its capital adequacy ratio.
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