Barclays Discount Bank Limited (Israel)

The Anglo-Egyptian Bank opened a branch in Jerusalem on 2 April 1918, closely followed by the opening of branches in Jaffa and Haifa. Nazareth branch was opened in 1921 and Tel Aviv in 1925. In 1925 the Anglo-Egyptian became part of Barclays Bank (DCO). A separate Palestine local board was established in Jerusalem in 1934 but moved to Cyprus from 1948 to 1950, when the Israel local board was re-opened in Jerusalem; in 1963 local head office was moved to Tel Aviv.

By 1967 there were two local directors controlling 32 offices, including the diamond agency in Tel Aviv. Expansion continued and by 1972 there were 48 offices. On 1 January 1972, the Israeli business was incorporated as Barclays Discount Bank, with Barclays Bank International having a 50.1% controlling interest. Barclays sold this holding on 9 February 1993 to the other partner, Israel Discount Bank.

Material available at Group Archives:  

• Photograph of Board 1995
• File (local matters) 1971-1978
• Minutes 1974, 1979-1981
• Other material relating to Israel can be found within the records of Barclays International