Israel Discount Bank Faces Further Cal Class Action Request

Israel Discount Bank's credit-card subsidiary Cal received a further request for a class action linked to allegations about hidden technological monitoring mechanisms in customer emails, according to a November 10 report on the Tel Aviv Stock Exchange reporting platform. The additional request follows the bank's November 5 disclosure of the same matter.

Legal Matter Remains In Focus

The announcement concerns Cal, a subsidiary of Israel Discount Bank, rather than a new operating update for the bank's core lending businesses. The report does not state the amount sought or indicate a court finding on the merits.

The TASE page showed Israel Discount Bank at 3,361 agorot as of Tuesday, November 10, at 13:07 Israel time. The displayed quote was delayed by 15 minutes. The figure is a dated TASE indication and is not presented as a comparison with a Xetra closing price.

Results Set For November 23

Israel Discount Bank is due to release its third-quarter results on November 23. That publication will give investors a fuller view of operating performance, credit trends and the contribution of its banking and financial-services businesses.

Israel Discount Bank's Business Mix

Israel Discount Bank provides retail, middle-market and corporate banking in Israel, with additional activities in Europe and North America. Its services include deposits, loans, mortgages, payment cards, capital-markets services, investment management and foreign-currency transactions, according to the company's investor-relations site. The group also operates through the Israel Credit Cards Company, known as Cal. The bank is a broad-based regional financial institution competing across consumer, business and corporate banking rather than focusing on a single niche.

Israel's broader banking sector is covered in the TA-35 market environment.

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