Hapoalim Bankבנק הפועלים

50 Rothschild Ave. Tel Aviv 66883, Israel Tel: 972-3-5673697 www.bankhapoalim.co.il



One of the largest banks in Israel.

Hapoalim bank provides financing for construction projects in Israeli settlements in the occupied territory.

Hapoalin bank accompanies 4 projects in Beitar Illit that are currently under construction:
– In 2015, Hapoalim bank extended credit to the Israeli development and infrastructure company Bardarian Brothers, on the basis of a contract with the Israeli construction company Adi Hadar (of the Hadar Group), for infrastructure and road works in the area of hill C and territory D in Beitar Illit (see map in the photos).
– Hapoalim bank is accompanying a construction project of 48 housing units built by the Israeli company Bonayich Building Development & Investments in the northwest of Beitar Illit (hill C).
– Hapoalim bank is accompanying a construction project of 40 housing units built by the Israeli construction company Bonayich Building Development & Investments in the western area of Beitar Illit (hill B2 – Hatamar). The project is executed in the framework of Local Outline Plan 426/8, which refers to the land of the Palestinian villages Wadi Fukin, Husan and Nahhalin.
– Hapoalim bank is accompanying a construction project of 20 housing units built the Israeli company Ahim Hasid in the southwest of Beitar Illit (hill A). The project is executed according to Local Outline Plan 426/1/3/12, which refers to the land of the Palestinian village Nahhalin.

Hapoalin bank accompanies 3 projects in Efrat that are currently under construction and another project that was completed in 2016:
– Hapoalim bank is accompanying a project of 30 housing units built by the Israeli construction company Bonayich Building Development & Investments in Hadagan hill in Efrat.
– Hapoalim bank is accompanying a project of 24 housing units called “open Efrat”, built by the Israeli company Mishkan Eliyahu in Hatamar hill in Efrat.
– Hapoalim bank is accompanying a project of 40 housing units built by the Israeli construction company Z.F. Building company in Hazayit East in Efrat. The project is executed according to Local Outline Plan 410/5/4, which refers to the land of the Palestinian villages al-Hader and Irtas, located east of Hazayit hill.
– Hapoalim bank is accompanying two integrated projects of 50 housing units built by the Israeli construction company Z.F. Building in Hatamar and Hadagan hills in Efrat. The project’s construction was completed in 2016.

Hapoalim bank accompanied a 14 housing units project called “Nofei Adumim”, built by the Israeli construction company Ofer Aharon Building Works in the center of the settlement of Ma’ale Adumim. The project was built in the framework of Local Outline Plan 420/1/7/11, which refers to the land of the Palestinian village Khan al-Ahmar. The project was completed in December 2016.

Hapoalim bank is accompanying a 126 housing units project called “Tzarfati in Har Homa”, built by the Israeli construction company Sarfati Shimon in the southeast of Har Homa.

Hapoalin bank accompanies a construction project in Pisgat Ze’ev that is currently under construction and another 4 projects that were completed:
– Hapoalim bank is accompanying a 68 housing units project of the Israeli construction company Psagot Ziv Investments and Development in the northwest of the settlement neighborhood of Pisagt Ze’ev in East Jerusalem.
– Hapoalim bank is providing financial accompaniment to a 12 housing units project of the Israeli construction company Y.D. Barazani in the southeast of Pisgat Ze’ev. The project was completed in 2016.
– Hapoalim bank accompanies a two-stage project of 24 housing units called “Bait Bekoma” built by the Israeli construction company Ahim Hasid in the southeast of the settlement neighborhood of Pisgat Ze’ev. The project was completed in 2014-2016.
– Hapoalim bank accompanied a project of 12 cottages built by the Israeli company Bonayich Building Development & Investments in the northeastern extension of Pisgat Ze’ev East, which pushes the settlement closer to the Palestinian villages of Hizma and Anata. The project was completed in 2016.
– Hapoalim bank accompanied a project of 12 housing units called “Top Forest”, built by the Israeli construction company Mery Building Works in northwestern Pisgat Ze’ev, east of the Palestinian village of Beit Hanina. The project was completed in 2014-2015.

In addition, 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 finances the Jerusalem light rail project: The bank is a guarantor of the state loans to the companies that built the Light Rail in Jerusalem, which is designed to connect the settlement neighborhoods around Jerusalem with the city center. According to an article published in June 2009, “The funding agreement of the project with Bank Hapoalim and Bank Leumi included raising 280 million Euros in short-term loans and 100 million US dollars in long-term loans. […] In light of the delays, Citypass asked the banks to increase the line of credit”.

The bank provides mortgages for homebuyers in settlements. For example, the bank supplied mortgage for a house in Alfei Menashe in 2010.

Hapoalim bank provides loans to local and regional authorities of settlements:
A development loan of NIS 2 million for 15 years to Megilot Dead Sea Regional Council in June 2016.
A loan of NIS 49.5 million to Mateh Binyamin Regional Council in January 2015.
A development loan of NIS 1.5 million for 10 years to Megilot Dead Sea Regional Council in July 2014.

The bank also manages Bank accounts of local and regional councils of settlements:
Shomron Regional Council – a bank account for loans for sewage projects.
Mateh Binyamin Regional Council – a bank account for routine activities and for receiving credit and a bank account for the management of investments files.
Efrat Local Council – a bank account for installments to suppliers.
A bank account of Megilot Dead Sea Regional Council.
Har Adar regional council – a bank account and an account for the rehabilitation, maintenance and development of water and sewage systems.
A bank account of Katzerin settlement in the Golan Heights.

Hapoalin Bank manages the finances of Clal finance and Jerusalem equity portfolio, companies owned by the settlement of Efrat, along with Leumi Bank.

The Bank operates branches in the following Wet Bank settlements: Ariel, Beitar Illit, Ma’ale Adumim, and branches in the East Jerusalem settlements neighborhoods of Gilo, Ramot, Pisgat Ze’ev. The bank also operates a branch on Nur ad-Din Street, in a Palestinian neighborhood of East Jerusalem.
In addition, the bank operates a branch in Bnei Yehuda in the Golan Heights.

Hapoalim 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 a full report about the involvement of Israeli banks in the Israeli settlements enterprize from February 2017.

Click here to read the full report about the involvement of the Israeli banks in the financing of the occupation From October 2010.



Ownership

Bank major shareholders: Arison Investments (20%); The Delek Group through Exelance investments (2.87%), Hafenix Holdings (2.42%). Additional small shareholders unclude Goldman, Sachs & Co and Maxwell Don from the US.
Chair of directors: Oded Eran
President and CEO: Ari Pinto


Subsidiaries

Israeli subsidiaries:
Poalim Capital Markets (100%); Diur B.P (100%); Tarshish Holdings and Investments (100%); Opaz (100%); Continental Poalim (100%); Hapoalim Properties – Stocks (100%); Poalim Sahar (100%); Zohar Hashemesh for Investments (100%); Isracard (98.2%); Israel Chemicals (88.7%); Avgol Industries (7.7%).

International subsidiaries:
Bank Hapoalim Switzerland (100%); Banque Hapoalim Luxemburg (100%); Poalim Asset Management UK and Poalim Asset Management Ireland – held by Pam Holdings, which is fully owned by Bank Hapoalim; Hapoalim Latin America (100%) – operates two branches in Uruguay; Bank Hapoalim NY branch (100%); Bank Hapoalim Miami branch (100%); Hapoalim Securities USA – broker-dealer company (100%); Bank Pozitif Kredi Ve Kalkinma Bankasi A.S. Turkey (69.8%).

The bank operates a representative office in Los Angeles, USA.

The bank holds shares in the following companies, which are all traded in the NYSE: Check Point Software Technologies; Gazit-Globe – the bank also holds shares in the company’s subsidiary Norstar; Caesarstone Sdot-Yam; Tower; and Whirlpool. Hapoalim bank also holds shares in the following American companies: Alphabet (the mother company of Google), J.P. Morgan investment bank, McKesson, Visa, Microsoft, Cisco, Barclays, Allergan, Mylan, and more.

 


Partners

Hapoalim bank signed a contract for strategic cooperation with the American company Cisco Systems.

Alon Blue Square’s bonds are attached to Bank Hapoalim.

Hapoalim bank is financing a project by Netafim in Ethiopia for over USD 200 million.

All the information contained in this page is valid until Wed 01/02/2017