Business Services Industry
Mercantile Discount Bank unveiled. (Barclays Discount Bank to change name to Mercantile Discount Bank)
Israel Business Today, April, 1993
Beginning May 9, the name of Barclays Discount Bank will be changed to Mercantile Discount Bank Ltd. The name was chosen by the management of Israel Discount Bank Ltd. Barclays Discount has a subsidiary by the name of Israel Mercantile Bank, from which the new name was taken. On February 9, Israel Discount Bank bought half the shares in Barclays Discount from Britain's Barclays Bank PLC for 36 [pounds] million, and today owns 100 percent of the shares. (See IBT vols 308 & 312)
Barclays Bank arrived in Israel in 1918. It was the official bank of the British Mandate in Palestine and the leading bank corporation in both the Arab and Jewish sectors during the 1930s and 1940s. In 1971, Israel Discount purchased half the shares in the bank and the name was changed to...
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