NEW YORK, Oct. 18, 2018 /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 and KBRA's outlook of IDBNY is stable.
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. There has been remarkable consistency in our financial
performance and growth as a result of our customer-centric,
relationship based service model and strong risk
infrastructure. Our commitment to building even deeper client
engagement and a solid strategic plan is providing positive
momentum as we continue to expand our offerings to clients and help
them reach their financial goals".
Click here to view the full report
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.
To learn more about IDB Bank visit www.idbny.com
INVESTMENT, INSURANCE AND ANNUITY PRODUCTS:
Are Not FDIC
Insured
|
Are Not Bank
Deposits
|
Are Not Bank
Guaranteed
|
Are Not Insured by
any Federal Government Agency
|
May Lose
Value
|
IDB Bank is a registered service mark of Israel
Discount Bank of New York. MEMBER
FDIC
View original
content:http://www.prnewswire.com/news-releases/israel-discount-bank-of-new-york-announces-affirmation-of-investment-grade-ratings-by-kroll-bond-rating-agency-300734030.html
SOURCE Israel Discount Bank of New
York