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Hapoalim named best Israeli bank

July 22, 2012 23:09

Hapoalim president and CEO Zion Kenan said his bank was delighted to receive this “outstanding recognition."

Bank Hapoalim

Bank Hapoalim 311. (photo credit:Ariel Jerozolimski )

Bank Hapoalim is Israel’s best bank, according to Euromoney magazine. This is the latest in a string of awards for Bank Hapoalim this year, after it won similar recognition from international magazines The Banker and Global Finance.

Euromoney editor Clive Horwood said the bank was rewarded for posting strong results in 2011, including a 25 percent increase in net profits, a 10% increase in deposits and a 12% return on equity. The bank also continued to improve its capital- adequacy ratio, he said, and demonstrated its renewed leadership in Israel’s banking sector despite operating in a challenging environment.

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Hapoalim president and CEO Zion Kenan said his bank was delighted to receive this “outstanding recognition from a prestigious global publication.”

The organization was very proud of both its recent financial performance and its accomplishments in terms of meeting customer needs and supporting the Israeli economy, he said.

“This includes our award winning website and online banking services, our special fund dedicated to investments in financial technology companies, our industry-leading sustainability efforts and our extensive efforts to enhance our customers’ financial freedom,” Kenan said. “The credit for our success is due to the people of Bank Hapoalim who work hard every day to serve our customers and help them reach their financial goals.”
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