Bank Hapoalim

Bank Hapoalim B.M.
Public
Traded as TASE: POLI
Industry Banking, Financial services
Founded 1921 (1921)
Headquarters Tel Aviv, Israel
Key people
 Arik Pinto, CEO
Oded Eran, Chairman of the Board
Products Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management
Revenue IncreaseUS$4.36 billion (2016)
IncreaseUS$684.6 Million (2016)
Total assets IncreaseUS$116.43 billion (2016)
Owner Shari Arison (20.2%)
Number of employees
 Increase11,930 (2015)
Website www.bankhapoalim.com Edit this on Wikidata

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

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, considered 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

The bank operates several international subsidiaries, including:

UK

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

North America

In the United States (New York City, California, & Miami) and in Canada.

Europe

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

See also

References

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