Today, IDB is among the 25 largest commercial banks in the New York metropolitan area, while its parent company, Discount Bank Ltd., runs some 260 branches across Israel.
The Bank reported strong loan growth, with loans increasing $89 million, or 20% from March 31, 2018, reaching $521 million at March 31, 2019 with no other real estate owned.
Elsewhere in the US, Discover Financial Services, Marcus (a digital lending platform from Goldman Sachs) and Eastern Bank are also on the Finacle user list.
The transaction is presently valued at approximately $67 million in the aggregate, based upon Cambridge Bancorp’s closing price of $85.61 as of December 4, 2018.
Earnings per share, excluding one-off items, rose to $3.00. Analysts had, on average, forecast earnings per share of $3.04, according to IBES data from Refinitiv.
By adding personal loans to our expanding product suite, we’re meeting the needs of today’s consumers who want a safe, fast and easy way to borrow money online.