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.
Bank Hapoalim towers in Haifa, 2011
|Traded as||TASE: POLI|
|Industry||Banking, Financial services|
|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||US$4.36 billion (2016)|
|US$684.6 Million (2016)|
|Total assets||US$116.43 billion (2016)|
|Owner||Shari Arison (20.2%)|
Number of employees
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.
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. Following discussions between Danske Bank and Bank Hapoalim, Danske Bank reversed its decision and removed Bank Hapoalim from its exclusion list in November 2015.
The bank operates several international subsidiaries, including:
In the City of London and Poalim Asset Management (UK) Limited.