S&P lifts Israel Discount Bank to positive view

Standard & Poor’s said it revised the outlook on Israel Discount Bank Ltd. to positive from stable.

The agency also said it affirmed the BBB- long-term and A-3 short-term counterparty credit ratings on the bank.

The outlook revision reflects a view that the bank’s capital position has sustainably improved in recent years, owing to lessening economic risks in Israel and the bank’s relatively low growth in risk assets with no dividend distributions, the agency said.

The bank’s capital position is further supported by the planned sale of its minority interest in FIBI, Israel’s fifth-largest bank, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.