Bank Hapoalim

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Bank Hapoalim B.M.
Type Public
Traded as TASEPOLI
Industry Financial services
Founded 1921
Headquarters Tel Aviv, Israel
Key people Zion Kenan, (CEO)
Products Banking
Revenue Increase US$ 3.3 billion (2012)
Net income Increase US$ 680.8 million (2012)
Total assets Increase US$ 100.7 billion (2012)
Employees 13,581
Website www.bankhapoalim.com

Bank Hapoalim (Hebrew: בנק הפועלים‎ lit. The Workers Bank) is Israel’s largest bank. The Bank has a significant presence in global financial markets. In Israel, the bank has over 577 Automated Teller machines, 280 bank branches, 8 regional business centers, 23 business branches and industry desks for major corporate customers.
The bank's stock is traded on the Tel Aviv Stock Exchange.

History[edit]

Bank Hapoalim, Haifa

The bank was established in 1921 by the Histadrut the Israeli trade union congress (lit. "General Federation of Laborers in the Land of Israel") and the World Zionist Organization.

The bank was owned by the Histadrut until 1983, when it was nationalized following the Bank Stock Crisis. The bank was held by the Israeli government until 1996 when it was sold to a group of investors led by Ted Arison. During the period of government ownership the bank grew considerably to become the largest bank in Israel (a title previously held by Bank Leumi).

Shari Arison, owner of Arison Holdings, which controls Bank Hapoalim

As of the end of 2011 the bank has 13,408 employees worldwide. It is controlled by Arison Holdings, which is owned by Shari Arison. Arison Holdings owns a total of 22.6 per cent of the bank. Other main investors include Delek Group (6.52 per cent) and IBD Holdings (5.03 per cent).

In January 2014, PGGM (the second largest Dutch pension fund) and Danske Bank decided to no longer invest in Bank Hapoalim due to its involvement in the financing of settlements in the Occupied Palestinian Territories, because they considered it illegal under international law.[1]

Global presence[edit]

The bank operates several international subsidiaries, including:

UK[edit]

In the City of London and Poalim Asset Management (UK) Limited.

North America[edit]

In the USA (New York City & Miami) and in Canada.

Europe[edit]

BHI Private Banking, Switzerland Bank Hapoalim (Switzerland) Ltd., Zurich, Geneva, Luxembourg, South America, and the Cayman Islands.

See also[edit]

References[edit]

  1. ^ [1]

External links[edit]