Bank Otsar Ha-Hayal

Bank Otsar Ha-Hayal
Public
Industry Banking
Founded 1946 (1946)
Area served
 Israel
Revenue ₪597 million (2014)
Parent First International Bank of Israel
Website www.bankotsar.co.il

Bank Otsar HaHayal (Hebrew: בנק אוצר החייל‎) is an Israeli bank. The name literally means "Bank of the Soldier Treasury".

History

Otsar HaHayal was founded in 1946 by the British mandatory authorities to provide banking services to Jewish veterans of the British armed forces. It later provided these services to Israel Defense Forces veterans and defense sector employees, who also became part owners of the bank.[1]

In 1972, the bank opened up to the general public, although it still largely kept its association with military assets. It was purchased by Bank Hapoalim in 1977.

By 1996, Otsar HaHayal completely transformed into a commercial public bank.

On January 24, 2006, Bank Hapoalim's share of the bank, 66%, was sold for 703 million NIS, approximately 185% of Otsar Ha-Hayal's estimated worth, to the First International Bank of Israel.

See also

References

  1. ↑ Mizrahi seeks to buy Bank Otsar HaHayal
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