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Israel Discount Bank eyes capital raise

The board of Israel Discount Bank Ltd. approved a potential capitalraise through an offering of stock and/or options, Reuters reported Sept. 26.

The bank said the issuance would be aimed at enablinggrowth, increasing profitability, and improving efficiency and returns. Thetiming and conditions of any issuance will be subject to market conditions, thebank reportedly added.

Israel Discount Bank earlier in September announced aplan to cut 1,000jobs as part of an efficiency drive.