Bank Hapoalim
 | |
 Bank Hapoalim, Ra'anana | |
| Type | Public |
|---|---|
| TASE: POLI | |
| Industry | Banking, Financial services |
| Founded | 1921 |
| Headquarters | , |
Key people | Dov Kotler, 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 (15.74%) |
Number of employees | 11,930 (2015) |
| Website | bankhapoalim |
Bank Hapoalim (Hebrew: בנק הפועלים lit. The Workers' Bank) is one of Israel's largest banks.
History[]
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.
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.
At the end of 2015, the bank had 11,930 employees worldwide. It is controlled by , owned by Shari Arison. Arison Holdings owns a total of 15.74 per cent of the bank.
In January 2014, Danske Bank and the Dutch pension fund PGGM blacklisted Bank Hapoalim for its involvement in the financing of settlements in the Palestinian territories.[1]
Global presence[]
The bank operates several international subsidiaries: In the City of London and Poalim Asset Management (UK) Limited; in the United States (New York City, California, & Miami) and in Canada; BHI Private Banking, Switzerland Bank Hapoalim (Switzerland) Ltd., Zurich, Geneva, Luxembourg, South America, and the Cayman Islands.
2018-2022 Plan[]
Bank Hapoalim reached an agreement that cancels the labor dispute called by the Histadrut labour federation in December. The Jan 2020 deal, according to the regulatory filing by the bank in Tel Aviv, suggests to raise worker wages by an average of 3.7% from 2018 to 2022, bank employees will also get a one-time grant of 210 million shekels ($60.6 million), whereas the bank also place to reduce its workforce by over 900 jobs through an early retirement plan.[2]
Controversies[]
The Bank was found to be complicit in tax evasion, corruption relating to FIFA and bidding for the World Cup. There was a fine of $874.3 million to settle tax evasion claims and $30 million for the FIFA scandal.[3]
Bank logos[]
The bank's logo during the 1990s
The bank's logo from 1998 - September 2001
The bank's logo from September 2001 - January 2018
The bank's logo since January 2018
See also[]
References[]
External links[]
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Wikimedia Commons has media related to Bank HaPoalim. |
- International website
- Israeli website (in Hebrew)
- Banks of Israel
- Israeli companies listed on the London Stock Exchange
- Companies based in Tel Aviv
- Companies listed on the Tel Aviv Stock Exchange
- Formerly government-owned companies of Israel
- Israeli brands
- Banks established in 1921