Business Services Industry
Safra Brothers buy discount Canadian bank. (Safra Republic Holdings S.A.'s Republic National Bank of New York, Israel Discount Bank of Canada)
Israel Business Today, November, 1996
Republic National Bank of New York, which is owned by the Safra Brothers group, is to acquire Bank Discount's Israel Discount of Canada. The Canadian bank has been valued at around US$9.5 million. A Bank Discount spokesperson said that the decision to sell the Canadian subsidiary was based on purely commercial motives.
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