IDB Bank
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1949 |
| Headquarters | New York City , United States |
Area served | United States, Latin America, Israel |
| Products | Private banking, commercial banking, investment management, asset management |
| Parent | Discount Bank |
IDB Bank (commonly known as IDB) is a multinational financial institution based in New York City, providing private and commercial banking services. With operations spanning the United States, Latin America, and Israel, it is incorporated under the jurisdiction of the State of New York and is a member institution of the Federal Deposit Insurance Corporation. Its portfolio includes private banking, commercial banking, investment management, and asset management solutions.
History
The establishment of IDB Bank dates back to 1949 when it began as a representative office in New York City for the Tel Aviv-headquartered Discount Bank, initially engaging with the public on a limited scale.
After New York State amended its regulations in 1961 to allow foreign banks to open full branches, IDB launched its inaugural branch on April 4, 1962. This branch was situated at 511 Fifth Avenue in Manhattan and was officially opened by former First Lady Eleanor Roosevelt.
In 1968, IDB expanded by acquiring the HIAS Immigrant Bank, an institution licensed by New York State since 1923 that specialized in processing remittances for immigrant communities. This entity was operated under the name Israel Discount Trust Company and held FDIC insurance coverage.
By 1980, IDB had become a fully owned subsidiary of Discount Bank, operating under the title "Israel Discount Bank of New York." Subsequently, to signify its growth beyond the New York area and diversification of services, it adopted the registered trademark "IDB Bank."
Headquarters & Locations
The main office of IDB Bank is situated within the W. R. Grace Building.
In addition to its presence in New York, IDB maintains branch locations across New Jersey, Florida, and California. Its international footprint includes offices located in Chile, Uruguay, and Israel.
See also
References
- Notes
External links
- Articles with short description
- 1949 establishments in New York City
- American companies established in 1949
- Banks established in 1949
- Banks based in New York City
- Companies based in Manhattan
- Multinational companies based in New York City
- Privately held companies based in New York City
- Financial services companies based in New York (state)
- Companies based in New York (state)