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Sunday, April 1, 2007

Twisting in the Wind

It was just announced that Bank Discount won the Civil Servants Banking Tender.

Bank Mizrachi-Tfachot just purchased Bank Yahav (for some $237 million dollars), which until today held the monopoly on the service. Presumably they bought it under the assumption they would either win the tender or sidestep it.

Bank Discount will now be offering the 140,000 Israeli civil servants zero-fee banking services, something the rest of the country is not privileged to have.

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