Israel Discount Bank Commitment to Personalized Banking
Israel Discount Bank (IDB) of New York hosted its annual soirée at the Beverly Hills Hilton hotel in California, drawing dignitaries, community leaders, business owners, and a diverse crowd of patrons. The event, held on an early June evening in 2023, showcased IDB’s commitment to personalized banking and its special role as the largest Israeli bank operating in the United States.
With operations headquarters in New York City since 1949 and additional locations in the United States, Latin America, and Israel, IDB is an American multinational private, commercial bank, and financial services company.
It holds a charter in the State of New York and is a member of the Federal Deposit Insurance Corporation. In 1962, IDB Ltd. became one of the first foreign banks to open a branch in New York after a change in New York State banking law allowed foreign banks to operate branches there.
Israel Discount Bank in California
Moti Levy
Moti Levy Tzedek, the head of the Business Development Department in California, is responsible for planning the impressive annual event that takes place under the region’s pleasant weather conditions.
This year’s soirée saw the attendance of notable guests from the diplomatic corps, including the Consul General of Israel, Dr. Hillel Newman, and the Consul General of Azerbaijan, Mr. Ramil Gurbanov.
Coincidentally, while Mr. Gurbanov was present at the Israeli bank’s party, Israel’s President, Mr. Yitzhak Herzog, was on his first official visit to Baku, Azerbaijan’s capital.
During the event, attendees learned of the changes in local branch management, with Michal Miron taking over as the director of the California region from Kiyoun Kim, who moved to the New York office as the Executive Vice President Chief Operating Officer.
Ziv Biron, the CEO and President of Israel Discount Bank, emphasized the institution’s commitment to personal banking, where bankers closely and personally accompany clients throughout the year. IDB takes pride in fostering loyal relationships spanning multiple generations, supporting clients’ family businesses and individual ventures.
The Band. Photo Nurit Greenger
IDB Personalized Approach
IDB’s personalized approach sets it apart from other banks, and its focus on catering to both large and smaller investors while giving personal attention to each customer makes it stand out. The bank primarily works with manufacturing companies, importers, exporters, and real estate businesses. It invests and finances projects like residential buildings and industrial warehouses, providing loans for seven to ten years based on assessed assets and market conditions.
The bank’s assets have grown substantially over the years, exceeding $10 billion around 2015 and standing at $12-13 billion currently. IDB attributes this growth to investments in infrastructure, processes, business opportunities, new products, and personnel.
Key Advantages
One of the key advantages of IDB is its personalized and creative approach, where bankers focus on understanding and meeting individual customer needs. The bank’s short and fast decision-making cycle enhances its reputation among clients.
Israel Discount Bank’s commitment to personal service aligns with its long-term relationship-based approach, which remains rare in the modern banking sector.
As IDB continues to thrive, it holds fast to its tradition of personalized banking, making it a successful formula with exceptional results. The bank’s dedication to personalized service stands in contrast to the diminishing trend of personalized banking in the larger financial industry.
IDB Soirée. Photo Nurit Greenger
