Israel Discount Bank rejects offers to sell U.S. unit

Reuters

JERUSALEM, Jan 28 (Reuters) - Israel Discount Bank said on Tuesday it had decided not to accept any of the proposals submitted for the acquisition of its holdings in U.S. unit Discount Bankcorp.

Discount Bankcorp is the parent company of IDB New York.

"The process of considering the sale of Discount Bank Latin America, a subsidiary of IDB New York, will continue," Discount said in a statement to the Tel Aviv Stock Exchange.

Discount, Israel's third-biggest bank, had said it might sell all or part of its New York business to shore up its balance sheet. Net income at its New York subsidiary slipped to $42.7 million in 2012 from $45.8 million in 2011, while total assets rose to $10 billion from $9.5 billion.

Last month, Hapoalim - Israel's largest lender - said it was examining the possibility of buying Discount's U.S. unit but a week later it ended its examination.

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