Ayalon explores CAL deal as April 2027 deadline shapes Israel Discount Bank stock

Published on 10/19/2026 at 09:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ayalon held exploratory talks on October 14, 2026. Israel Discount Bank stock remains tied to a 72.00 percent CAL stake and April 2027.

CAL sale deadline and bank figures

Exploratory talks over CAL were reported on October 14, 2026.
Israel Discount Bank held a 72.00 percent CAL stake in October 2026.
Second-quarter revenue reached ILS 3.40 billion on August 13, 2026.
Israel Discount Bank stock stood at EUR 96.80 in Frankfurt on October 16, 2026.

Israel Discount Bank, IL0006912120, Illustration mit AI erstellt.

Israel Discount Bank (ISIN IL0006912120) holds a 72.00 percent stake in CAL, with a statutory sale deadline in April 2027. Globes reported on October 14, 2026, that Ayalon had held discussions with Discount Bank about exploring a purchase of the credit card company.

CAL sale has a fixed deadline

The talks matter because Discount Bank must sell its CAL holding or pursue a stock-market flotation by April 2027 under the regulatory timetable described by Globes. The previous sale agreement with Union-Harel was due to expire in November 2026, while CAL remains a strategic asset because Discount Bank owns 72.00 percent of the business.

The October 14 report described Ayalon's approach as an initial expression of interest rather than a signed transaction. That distinction leaves the timing, valuation and regulatory approval as the central variables for the bank.

What does the deadline mean for CAL?

The bank's recent earnings provide a second reference point. In its second quarter of 2026, revenue was ILS 3.40 billion, down 1.00 percent from the second quarter of 2025, while net income was ILS 1.10 billion, down 4.40 percent year over year, according to Simply Wall St.

Three dated steps toward a sale

On August 13, 2026, Israel Discount Bank's second-quarter results showed ILS 3.40 billion of revenue and ILS 1.10 billion of net income. On September 22, 2026, a court approved management of a class action covering certain customer balances of at least ILS 3,000. On October 14, 2026, Ayalon explored buying CAL, with the bank's 72.00 percent stake and the April 2027 deadline defining the situation.

Dates tied to the transaction

The next substantiated dates are November 2026, when the existing Union-Harel agreement was due to expire, and April 2027, the statutory deadline for selling CAL or pursuing a flotation. Both dates were reported by Globes on October 14, 2026.

Frankfurt price remains dated

The last dated Frankfurt quotation stood at EUR 96.80 on October 16, 2026. Israel Discount Bank is primarily listed on the Tel Aviv Stock Exchange under DSCT, where the stock closed at ILA 3,461.00 on October 16, 2026.