Israel Discount Bank of New York Announces Affirmation of Investment Grade Ratings by Kroll Bond Rating Agency

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Nov 08, 2017, 09:13 ET

NEW YORK, Nov. 8, 2017 /PRNewswire/ -- Israel Discount Bank of New York (IDB Bank^®) announces that it has received affirmation of investment grade ratings by Kroll Bond Rating Agency ("KBRA").

KBRA affirmed its ratings for IDB Bank^®, including a deposit rating of A-, senior unsecured debt rating of A-, subordinated debt rating of BBB+, and a short-term deposit and debt rating of K2.

KBRA, which is registered with the SEC as a Nationally Recognized Statistical Rating Organization, noted the ratings are supported by the Bank's "comparatively strong capital profile, better-than-average asset quality, favorable historical loss rates, comprehensive liquidity and stress testing infrastructure, and conservative credit risk appetite in combination with management's extensive knowledge of the Bank's high-profile customer base."

Uri Levin, President and Chief Executive Officer of IDB Bank commented, "We are proud that the Bank has once again received a high investment grade rating by KBRA. These ratings reaffirm the Bank's financial strength and recognize the results of our efforts to deliver the highest quality banking services to our customer base."

For more information about Kroll Bond Rating Agency visit www.kbra.com.
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About IDB Bank

IDB Bank is a New York State-chartered commercial bank and a member of the FDIC. IDB specializes in Private Banking and Commercial Banking services to its U.S. and international customers. The Bank's network includes its main office in Manhattan, branches in Staten Island, Brooklyn, and Short Hills, NJ, in addition to branches in Beverly Hills and Downtown Los Angeles, California; and Aventura, Florida. The Bank also has an International Banking facility at its main office in New York; and representative offices in Chile, Israel and Uruguay. Securities brokerage and insurance activities are conducted through IDB Capital Corp., a broker-dealer regulated by FINRA and the SEC.