Bank Hapoalim

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Bank Hapoalim B.M.
Public
Traded as TASEPOLI
Industry Financial services
Founded 1921; 95 years ago (1921)
Headquarters Tel Aviv, Israel
Key people
Ari Pinto, (CEO)
Products Banking
Revenue Increase 14.32 billion (2015)
Increase 3.08 billion (2015)
Total assets Increase 431,63 billion (2015)
Number of employees
11,930 (2015)
Website bankhapoalim.co.il
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, it has over 600 ATMs (automated teller machines), 250 bank branches, 7 regional business centers, 22 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 Zionist Organisation.

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.

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

As of the end of 2015 the bank has 11,930 employees worldwide. It is controlled by Arison Holdings, which is owned by Shari Arison. Arison Holdings owns a total of 20 per cent of the bank.

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 Palestinian territories, because they considered it illegal under international law.[1] Following discussions between Danske Bank and Bank Hapoalim, Danske Bank reversed its decision and removed Bank Hapoalim from its exclusion list in November 2015.

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 United States (New York City ,California, & 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]