Discount New York profit flat

Globes Monday 6th February, 2012

Israel Discount Bank of New York were flat in 2011. The bank posted a net profit of $50.1 million in 2011, down from $50.6 million in 2010, and the return on equity fell to 6.5% from 6.9%, respectively. Discount New York's capital adequacy rate was high at 14.6%. The bank's CEO, Ehud Arnon, took up his post in early 2011. "Our main problem is the l...

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