'Euromoney' names Hapoalim 'best bank in Israel'

Bank Hapoalim has in recent years led the banking market in Israel, posting net profits in 2012 of NIS 2.5 billion.

July 14, 2013 23:00
Bank Hapoalim President Zion Kenan

Bank Hapoalim President Zion Kenan 150. (photo credit: Sivan Farag)

For the second year in a row, the international financial magazine Euromoney has selected Bank Hapoalim as the “best bank in Israel.”

Bank Hapoalim president and CEO Zion Kenan welcomed the award, saying it demonstrated international acknowledgement of his bank and its achievements, crediting its “precise execution” of its strategic plan for its financial success.

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“Bank Hapoalim is happy to receive this important recognition from a prestigious global magazine,” he said. “We are very proud of our financial achievements in recent years, as we are of the superb services we provide our clients and our steady support of the Israeli economy,” he said.

Bank Hapoalim has in recent years led the banking market in Israel. It posted net profits in 2012 of NIS 2.5 billion, larger than the second- and third-leading banks combined. The bank also came out on top in return on equity, at 10.1 percent, and capital adequacy, at 15.7%.

The Euromoney awards are in their 23rd year, and they are internationally considered the most important sign of excellence in the financial world. More than 600 banks were submitted for consideration this past year.

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