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.
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.”