Hapoalim Bankבנק הפועלים
One of the largest banks in Israel.
The Bank provides financing for the construction of housing projects in Israeli settlements in occupied territory. Hapoalim Bank acted as a guarantor and loan maker to major contractors and construction companies who build in the Occupied Territories (e.g. Heftzibah). The bank also acted as a financial underwriter for Hebftziba via IBI. In addition, Hapoalim Bank is a major creditor for Shikun & Binui – Housing and construction.
Hapoalim bank provides loans and financial services to local authorities of settlements: The bank operates the account of the settlement regional council of Har Adar, which opened another account for the rehabilitation, maintenance and development of water and sewage systems; the bank operates the account of Katzerin settlement in the Golan Heights.
The Bank operates branches in the following settlements: Ariel, Beitar Illit, Modi'in Illit, Ma'ale Adumim, Pisgat Ze'ev and two branches in East Jerusalem (in Gilo and in Ramot). In addition, the bank operates a branch in Bnei Yehuda in the Golan Heights.
The bank benefits from access to the Palestinian monetary market as a captive market.
Hapoalim bank discriminates Palestinian citizens of Israel. On 5 June 2013, the Israeli news channel 10 published an investigative report regarding discrimination of Palestinian costumers with an Israeli ID by Hapoalim Bank. According to the article, several Hapoalim branches refused to transfer accounts of Palestinian citizens to branches located in Jewish populated areas.
Hapoalim bank finances the military city project for the Israeli army in the Negev.
Click here to read the full report about the involvement of the Israeli banks in the financing of the occupation.
International subsidiaries: Hapoalim (Switzerland) Limited, Hapoalim (Cayman islands) Limited, Hapoalim Luxemburg S.A., Hapoalin USA Holding Company (operates banks in New York and Miami), Hapoalim Bank Europe, Hapoalim London, Hapoalim Securities (US), Poalim Asset Management (UK and Ireland) - subsidiaries of Pam Holdings.
The bank further owns banks in Canada and South America, and 70% of Bank Pozitif in Turkey and Bank Pozitif in Kazakhstan.
Israeli subsidiaries: Isracard (98%), American express, Eurocard, Aminit, Poalim trust services, Poalim Capital Markets investment bank, Poalim Sahar, Peilim investments management, Elbit simulation (a real-estate company owned by Moti Ziser through Europe Israel).
50 Rothschild Ave.
Tel Aviv 66883
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