Hapoalim Bank
Full Text
בנק הפועלים בע"מ
Head office: Rothschild Blvd 50, Tel Aviv-Jaffa 6688314, Israel Tel.: +972-3-5673800
Bank Hapoalim B.M. is a publicly traded Israeli commercial bank that operates in various banking areas and related activities in the capital market, including business, retail, and financial markets and international banking.
Bank Hapoalim provides financial foundation and services for settlements and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory. In addition, the bank provides mortgages for the purchase of properties in settlements in the occupied West Bank. Furthermore, the bank benefits from access to the Palestinian banking market as a captive market that is dependent on the Israeli banking system.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Hapoalim provides financial infrastructure and mortgages to various construction companies for the purpose of building real estate projects in settlements in the occupied West Bank and East Jerusalem and holds the companies’ rights to the lands and projects as collateral. In addition, the bank provided hundreds of mortgages for properties in settlements in the occupied West Bank.
Financing Settlement Development Projects
The Jerusalem Light Rail
Bank Hapoalim financed the establishment and expansion of the Jerusalem Light Rail in occupied East Jerusalem.
The Jerusalem Light Rail (JLR) network is a large-scale Israeli transport infrastructure project connecting large settlement blocks in occupied East Jerusalem to the center of the city and its western side, creating territorial continuity and easing settler movement on both sides of the Green Line.
Bank Hapoalim financed the establishment of the Jerusalem Light Rail for the previous franchise and operator, the Citypass Group, and later organized and financed the J-Net Project for the expansion of the JLR network.
In 2006, the bank financed the establishment of the JLR and its first line, the Red Line, in a joint financing agreement of approximately NIS 2 billion together with Bank Leumi. In 2020, Bank Hapoalim led the consortium to finance the expansion of the JLR Red Line and the establishment of the Green Line as part of the J-Net Project. Bank Hapoalim, with the participation of the First International Bank and Migdal, awarded the CAF and Shapir Engineering and Industrywith NIS 3.5 billion. For more on the J-Net Project, see Who Profits report Developments in the Expansion of the JLR Network: The J-Net Project
Between 2019 and 2022, the bank financed construction works for the Jerusalem Light Rail J-Net project. In May 2022, the bank granted Israeli construction company Bardarian Brothers a loan in connection with a contracting agreement to carry out infrastructure works for the laying of railway tracks in the Gilo settlement neighborhood in occupied East Jerusalem for the JLR Green Line route. In December 2019, the bank granted the company a loan in connection with a contract to carry out work at the Pat Junction in Jerusalem as part of infrastructure and development work of the Green Line.
Wind Farms in the Occupied Syrian Golan
Bank Hapoalim financed the construction of the Ruach Beresheet and Emek Habacha wind turbine farms in the occupied Syrian Golan.
In 2020, the bank provided Enlight Renewable Energy with more than NIS 1 billion for the establishment of two of the largest Israeli wind energy projects in the Golan, contingent on the exploitation of occupied land and natural resources for the benefit of Israeli households and industry on both sides of the Green Line.
For more on the exploitation of occupied natural resources by the Israeli renewable energy sector, see Who Profits’ report Greenwashing Dispossession: The Israeli Renewable Energy Industry and the Exploitation of Occupied Natural Resources.
Tours in Settlements
Bank Hapoalim promotes and sponsors tours in cooperation with settler organizations in the occupied West Bank, East Jerusalem and the Syrian Golan.
In 2024, the bank promoted and sponsored tours in the City of David in occupied East Jerusalem in cooperation with the Elad settler organization. In addition, the bank sponsored guided tours in cooperation with the Eshkolot settler organization in Nebi Samuel in the West Bank and a tour led by the Shomron Tourist and Study Center, based in the settlement of Sahvei Shomron in the occupied West Bank. In 2021, the bank offered over 30 free guided tours led by Eshkolot, including a tour in the occupied Syrian Golan.
Bus Lines in Settlements
In 2021, Bank Hapoalim signed a financing agreement in the amount of approximately NIS 490 million with Superbus bus company for the purpose of financing its winning of the "Jerusalem Urban Center" cluster. The cluster includes bus lines that reach settlements in occupied East Jerusalem and the West Bank, including the French Hill, Givat Hamivtar, Ramat Eshkol, Ma'ale Hazeitim, Ir David, Ramot, Givat HaMatos and Armon HaNatziv in occupied East Jerusalem, and Rachel's Tomb and Nabi Samuel in the occupied West Bank.
Ariel West Industrial Zone
Bank Hapoalim financed the development of the Ariel West Industrial Zone in the occupied West Bank.
In November 2023, the bank granted three Israeli construction companies loans for a construction project on 14.296 dunams (14,296 square meters) of lands belonging to the Palestinian towns of Marda, Salfit and Hares to be part of the Ariel West Industrial Zone. The project is part of City Plan No. 130/1/6 for registering lands belonging to the towns of Marda, Salfit, and Hares for the purpose of regulating a new plot for a synagogue and expanding the area of engineering facilities to allow cellular antennas placement for cellular companies. The bank granted the companies Estee Steel, Leo Properties, and Sheltam Building, two loans each for the project in the Industrial Zone.
Financing Settlement Construction Projects
Alfei Menashe
Between 2021 and 2026, the bank financed a construction project in the settlement of Alfei Menashe, on lands belonging to the Palestinian town of Azzun in the occupied West Bank. In August 2021, May 2022, and January 2026, the bank granted Israeli construction company Briza BaGivaa loans for a construction project on 8 plots of lands on an area 9.052 dunam belonging to the Palestinian town of Azzun in the occupied West Bank. The project is part of City Plans No. 115/8 and No. 115/8/1 for the design, construction, and development of a residential neighborhood in Alfei Menashe of 1,406 housing units across 469.482 dunams of lands belonging to the town of Azzun. The bank holds as collateral a first-degree permanent lien on all of the company's current and future rights in connection with the land and the real estate.
Givat HaMatos
Between 2021 and 2025, the bank financed the construction of 180 housing units in the settlement neighborhood of Givat HaMatos in occupied East Jerusalem. The construction project is part of Plan No. מק/14295 for construction and development on an area of 369.393 dunams in Givat HaMatos, which explicitly includes the consolidation and division of lands without the consent of their owners. In April 2021, March 2022, November 2024, and May 2025, the bank granted Israeli construction company Effi Capital Nadlan Ltd. loans for the construction project, for which the bank holds first-degree permanent liens on all the company's rights and income arising from the real estate.
Gilo
In March and August 2024, the bank granted Israeli construction company Hasid Brothers Building Contracting Co. two loans for the construction of 54 housing units in an area of 5.333 dunams in the settlement neighborhood of Gilo in occupied East Jerusalem. The project is part of City Plan No. 13157 for the development of a new residential complex of approximately 797 units in the west of the Gilo neighborhood. The bank holds as collateral a lien on the company's rights and current and its future assets arising from the real estate project.
Efrat
In September 2024, the bank granted the company a loan for a construction project of 62 housing units on 7.697 dunams on lands in the settlement of Efrat. The project is part of City Plan No. 410/5/66 for development in the Givat HaTamar neighborhood in the Efrat settlement on 123.324 dunam of lands belonging to the Palestinian town of al-Khader. The bank holds as collateral a first-degree permanent lien on all the company's rights, assets, funds, and property related to the land or project, including rights arising from agreements with apartment purchasers in the project.
In December 2023, the bank granted the company a loan for a construction project on 2.377 dunams of land belonging to the Palestinian village of Artas in the occupied West Bank as part of the expansion of the settlement of Efrat. The project is part of City Plan No. 410/5/52 for determining rights and construction instructions over 6.136 dunams of land belonging to the Palestinian village of Artas as part of development in the neighborhood of Givat HaDagan in the Efrat settlement. The bank holds as collateral a first-degree permanent lien on all the company's rights, assets, funds, and property related to the land or project, including rights arising from agreements with apartment purchasers in the project.
In 2022 and 2021, Bank Hapoalim granted Israeli construction company Ba'al Hatanie company a loan for a construction project of 32 housing units in the settlement of Efrat in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Talpiot East
In May 2023, the bank granted the company a loan in connection with its contract with Moriah Jerusalem Development Company for surfacing and development of sports fields in the settlement neighborhood of Talpiot East in occupied East Jerusalem. The bank holds as collateral a first-degree lien without a limit on the development contract.
Zufim
In May 2023, the bank granted Israeli construction company Shriki Group Enterprises & Construction a NIS 800 million loan for construction on two plots of land in total size of 15.978 dunams of land in the settlement of Zufim, on lands belonging to the Palestinian village of Jayyus. The bank granted the company a loan of up to NIS 400 million for each plot and holds as collateral all the company's rights in the land. The project is part of Plan 149/11/2 for the construction of residential and commercial areas and public buildings on the agricultural lands of Jayyus and the Palestinian town of Azzun.
Beitar Ilit
In March 2022, the bank granted Israeli construction company Boneich Construction Development & Investments a loan for a construction project across 3.773 dunams on lands in the settlement of Beitar Illit. The project is part of City Plan No. 426/3 for determining residential land zoning on Hill C in the settlement. The bank holds as collateral a first-degree permanent lien on all the company's rights related to the real estate, including under a lease agreement signed with the Commissioner of Abandoned and Government Property in the West Bank in the Civil Administration.
Between 2019 and 2022, the bank granted Bonim Nachon company several loans for a construction project in the settlement of Beitar Illit on lands belonging to the Palestinian villages of Wadi Fukin, Husan, and Nahalin in the occupied West Bank, in accordance with Plan No. 8\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2021, Bank Hapoalim granted A. Haver company a loan for its project in the settlement of Beitar Illit, on lands belonging to the Palestinian village of Husan in the occupied West Bank, in accordance with City Plan No. 10\3\1\1\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2021, Bank Hapoalim granted Ofer Aharon company a loan for its project in the settlement of Beitar Illit, on lands belonging to the Palestinian village of Husan in the occupied West Bank, in accordance with City Plan No. 10\3\1\1\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In May 2020, Bank Hapoalim granted the company Eli Yohanan a loan for a lot in Beitar Illit settlement, in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2019, Bank Hapoalim granted the company Mishkan Eliyahu a loan for the construction of 4-6 housing units in the settlement of Beitar Illit on lands belonging to the Palestinian Village of Husan, in accordance with City Plan No. 10/ב/426/7. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Givat Ze'ev
In 2021, Bank Hapoalim granted Israeli construction company Sasi a loan for the construction of 552 housing units in the settlement of Givat Ze'ev in the occupied West Bank, in accordance to Plan No. 9\220. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Ma'ale Adumim
In 2021, Bank Hapoliam granted Tsipiya Yazamut company a loan for the construction of 18 housing units in the settlement of Ma'ale Adumim, on the lands belonging to the Palestinian town of al-Aizariya in the occupied West Bank, according to City Plan No. 52\3\1\420. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2020, the bank granted the company Mishkan Eliyahu a loan for the construction of 104 housing units in the settlement of Ma'ale Adumim on lands belonging to the Palestinian village of al-Azariyah in the occupied West Bank, in accordance with Plan No. 42\4\1\420. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Har Homa
In 2021 and 2020, Bank Hapoalim granted Israeli company Ofer Aharon a mortgage for the construction of 125 housing units in Har Homa settlement neighborhood in occupied East Jerusalem, according to City Plan No. 10310.
Beit Aryeh
In 2020, Bank Hapoalim granted the Mateh Binyamin Development Company a loan for the construction of 372 housing units in the settlement of Beit Aryeh in the occupied West Bank, in accordance with Plan No. 2\2\202. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Karnei Shomron
In 2020, Bank Hapoalim granted Mivneh company a loan for a construction project in the settlement of Karnei Shomron on lands belonging to the Palestinian village of Deir Istiya in the occupied West Bank, in accordance with Plan No. 117\8. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Kiryat Arba Industrial Zone
Also in 2020, Bank Hapoalim provided Mivneh with a NIS 3,500,000 loan for a 12,000-meter plot in the Kiryat Arba Industrial Zone in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Modi’in Ilit
In June 2019, the bank granted Israeli construction company Dona Engineering and Construction a loan for a construction project of 156 housing units on 6 plots of land in the settlement of Modiin Ilit across 29.412 dunam of lands belonging to the Palestinian town of Deir Qaddis in the occupied West Bank. The project is part of City Plan No. 210/6/3 for residential and commercial areas in the new neighborhood on lands of Deir Qaddis. The bank holds as collateral a first-degree permanent lien on all the company's rights of any kind related to the real estate, including under a lease agreement signed with the Commissioner of Abandoned and Government Property in the West Bank in the Civil Administration.
Ma'ale Efraim
In 2019 and 2021, Bank Hapoalim granted YSD Meitav company a loan for the construction of 44 housing units in the settlement of Ma'ale Efraim in the occupied West Bank, in accordance with Plan No. 1\13\310. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Kfar Adumim
In June 2019, the bank granted Israeli settlement-based construction company Zalman Barashi & Bros Co. a loan for the "Giv'at HaYeshiva" neighborhood development project for the construction and development of a neighborhood complex on approximately 404 dunams in the settlement of Kfar Adumim. The bank holds as collateral a first-degree permanent lien on all the company's rights of any kind related to the planned project and the property.
In 2019, Bank Hapoalim granted the company Zalman Barashi a loan for the construction of 300 housing units in the settlement of Kfar Adumim. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Previously, the bank financed additional construction projects in the settlements of Beitar Illit, Ma'ale Adumim and Efrat in the occupied West Bank, and Har Homa, and Pisgat Ze'ev in occupied East Jerusalem. For more, see Who Profits’ 2017 report Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Financing Settlement-Based Construction Companies
In July 2025, March 2025, December 2024, and May 2024, the bank granted settlement-based construction company Ofek Engineering (Aba) Ltd. loans for which the bank holds as collateral a first-degree permanent lien in an unlimited amount on company vehicles. The company is based in the settlement of Tzufim in the West Bank and mainly engages in construction in settlements in the occupied West Bank.
In August 2023, the bank granted Israeli real estate development company Harey Zahav Ltd. a loan for which the bank holds as collateral a first-degree lien on all of the company’s rights in financial deposits in the amount of NIS 110,000 held in its account at the bank. The company is based in the settlement of Alei Zahav in the occupied West Bank and has development projects in dozens of settlements in the West Bank.
Mortgages for Settlement Properties
In December 2021, as part of a class action lawsuit against the bank for alleged discrimination in providing mortgages, the bank showed that it had granted hundreds of housing loans to customers living in settlements in the occupied West Bank.
Banking Services to Settlement Local and Regional Councils
Bank Hapoalim provides loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
Bank Hapoalim provide loans, credit facilities and various banking services for over 150 settlements in the occupied West Bank and the Syrian Golan. These include the Gush Etzion Regional Council (consisting of 24 settlements), the Har Hevron Regional Council (consisting of 23 settlements in the South Hebron Hills area), the Jordan Valley Regional Council (consisting of 21 settlements in the Jordan Valley area), the Mateh Binyamin Regional Council (consisting of 52 settlements), the Megilot Dead Sea Regional Council (consisting of 8 settlements in the northern Dead Sea area), and the settlements of Beit El, Beitar Ilit, Efrat, Elkana, Emanuel, Givat Ze'ev, Har Adar, Karnei Shomron, Kdumim, and Ma'ale Adumim in the occupied West Bank. In addition, the bank has provided such services to the Golan Regional Council, consisting of 33 settlements in the occupied Syrian Golan.
Gush Etzion Regional Council
As of April 2026, Hapolaim Bank had 2 active pledge agreements with the Gush Etzion Regional Council.
In September 2024, Bank Hapoalim signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2123). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In September 2018, Bank Hapoalim signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2117). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Har Hevron Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Har Hevron Regional Council.
In April 2023, Bank Hapoalim signed a pledge agreement with the Har Hevron Regional Council for a period of 15 years (ends 2038) for which the company holds as collateral all council’s current and future revenue as collateral.
According to the Regional Council’s meeting protocols, in August 2022, the council approved a NIS 8 million loan from the bank and decided to open an account at the bank.
Jordan Valley Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Jordan Valley Regional Council. The Jordan Valley Regional Council (also known as Bik'at HaYarden Regional Council) consists of 21 settlements in the Jordan Valley area in the occupied West Bank.
In February 2022, Hapolaim Bank signed a pledge agreement with the Jordan Valley Regional Council for a period of 99 years (ends 2121) against all the council's revenues, including property tax and financial levies, with the exception of funds originating water and sewage.
Mateh Binyamin Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Mateh Binyamin Regional Council. The Mateh Binyamin Regional Council consists of 52 settlements in the central occupied West Bank.
Megilot Dead Sea Regional Council
As of April 2026, Hapolaim Bank had 2 active pledge agreements with the Megilot Dead Sea Regional Council. The Megilot Dead Sea Regional Council consists of 8 settlements in the northern Dead Sea area in the occupied West Bank.
In August 2025, Bank Hapoalim signed a pledge agreement with the Megilot Regional Council for a period of one year (ends 2026). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In October 2021, Bank Hapoalim signed a pledge agreement with the Megilot Regional Council for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget.
According to the Regional Council’s meeting protocols from November 2024, the bank operates the council's school bank account.
Beit El
As of April 2026, Bank Hapoalim had 3 active pledge agreements with the Beit El Local Council in the occupied West Bank.
In December 2024, Bank Hapoalim signed a pledge agreement with the Beit El Local Council for a period of 99 years (ends 2123). The bank holds a first-degree lien on the council’s rights to all current and future revenues, excluding funds originating from the state budget and from water and sewage.
Beitar Ilit
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Beitar Ilit Municipality in the occupied West Bank.
In December 2021, Bank Hapoalim signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Municipality’s meeting protocols, in June 2022, the Municipality’s Finance Committee approved a NIS 3 million loan from the bank for financing the replacement of street lighting in the settlement.
Efrat
As of April 2026, Bank Hapoalim had 8 active pledge agreements with the Efrat Local Council in the occupied West Bank.
In January 2024, Bank Hapoalim signed a pledge agreement with the Efrat Local Council for a period of 99 years (ends 2123). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Elkana
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Elkana Local Council in the occupied West Bank.
In July 2021, Bank Hapoalim signed a pledge agreement with the Elkana Local Council for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Local Council’s meeting protocols from June 2025, the bank operates 2 bank accounts for a school in the council's jurisdiction, one for council funds and the other for school parents' funds.
In January 2023, the Elkana municipality general assembly approved the pledge of the council’s revenue for a NIS 450,000 loan from the bank.
Emanuel
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Emanuel Local Council in the occupied West Bank.
In May 1999, Bank Hapoalim signed a pledge agreement with the Emanuel Local Council for a period of 99 years (ends 2098). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget.
According to the Local Council’s meeting protocols, in November 2023, the Emanuel Local Council general assembly approved the pledge of the council’s revenue as collateral for a NIS 250,000 loan from the bank for the year 2024.
Givat Zeev
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank.
In October 1994, Hapoalim Americai Israeli Ltd. (which was merged into Bank Hapoalim in 1998) signed a pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank for a period of 99 years, holding the council’s revenue as collateral.
Har Adar
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Har Adar Local Council in the occupied West Bank.
In December 2019, Bank Hapoalim signed a pledge agreement with the Har Adar Local Council in the occupied West Bank for a period of 99 years against all council’s properties and assets as collateral.
Karnei Shomron
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Karnei Shomron Local Council in the occupied West Bank.
In April 2019, Bank Hapoalim signed a pledge agreement with the Karnei Shomron Local Council for a period of 99 years (ends 2118). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Kdumim
As of April 2026, Bank Hapoalim had 4 active pledge agreements with the Kdumim Local Council in the occupied West Bank.
In March 2018, Bank Hapoalim signed a pledge agreement with the Kdumim Local Council for a period of 99 years (ends 2117). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Ma'ale Adumim
As of April 2026, Bank Hapoalim had 9 active pledge agreements with the Ma’ale Adumim Municipality in the occupied West Bank.
In November 2024, Bank Hapoalim signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 15 years (ends 2040). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Golan Regional Council
As of April 2026, Bank Hapoalim had 5 active pledge agreements with the Golan Regional Council. The Golan Regional Council consists of 33 settlements in the occupied Syrian Golan.
In January 2026, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of one year (ends 2027). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In February 2024, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of 12 years (ends 2036). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In May 2021, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of 11 years (ends 2032). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Regional Council’s meeting protocols, in 2025, Bank Hapoalim provided the council with a NIS 3 million credit facility. In December 2025, the council approved a NIS 3 million current loan account credit facility with Bank Hapoalim for 2026. According to the meeting protocols from December 2024, the bank provided the council with services including operating a bank account, deposits, foreign currency, securities, loans and credit facilities, and bank guarantees.
Branches in Settlements
Bank Hapoalim operates branches providing banking services in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
The bank operates 2 branches in the settlement of Ariel, and branches in the settlements of Beitar Ilit and Ma’ale Adumim in the occupied West Bank; branches in settlement neighborhoods of Ramot, Ramot Eshkol, Pisgat Ze’ev and the French Hill in occupied East Jerusalem; and a branch in the settlement of Bnei Yehuda in the Syrian Golan. In addition, the bank operates additional Automated Teller Machines (ATMs) and self-service banking machines in the settlement neighborhoods of Pisgat Ze’ev, Gilo, Neve Yaakov and Talpiot East (Armon HaNatziv) in occupied East Jerusalem.
Palestinian Captive Market
Bank Hapoalim benefits from access to the Palestinian banking market as a captive market.
Bank Hapoalim provides banking correspondence services to banks operating in the Palestinian Authority that are dependent on the Israeli banking system. Under the Paris Protocol, the Palestinian economy is subject to the Israeli currency and the Palestinian banking market's financial dealings with the rest of the world must go through the Israeli banking system. Palestinian banks are dependent on Israeli banks, which serve as correspondent banks, for fund transfers and clearing services, for which the bank requires deposit exorbitant cash collaterals and charges high commissions, and imposes restrictions on the transfer of money.
In addition, the bank operates a branch in Salah al-Deen Street in occupied East Jerusalem.
Financing Military Projects
In 2022, Bank Hapoalim financed the establishment of the Israeli Ministry of Defense’s "Ofek Rahav" military camp, carried out by Shikun & Binui Group and Malam Team companies. According to an agreement from 2022, Bank Hapoalim provided Shikun & Binui Group with short and long term loans in the total amount of NIS 1.3 billion.
In 2012, Bank Hapoalim lent the Ministry of Defense 200 million euros to finance the purchase of 30 training and instructional planes in the amount of 1 billion euros.
Financial Support for the Israeli Military
Bank Hapoalim funds a program that provides grants, placements, and training, including NIS 12 million in scholarships for military and security forces personnel injured in service since October 2023 during the genocide in Gaza.
Bank Hapoalim B.M. is a publicly traded Israeli commercial bank that operates in various banking areas and related activities in the capital market, including business, retail, and financial markets and international banking.
Bank Hapoalim provides financial foundation and services for settlements and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory. In addition, the bank provides mortgages for the purchase of properties in settlements in the occupied West Bank. Furthermore, the bank benefits from access to the Palestinian banking market as a captive market that is dependent on the Israeli banking system.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Hapoalim provides financial infrastructure and mortgages to various construction companies for the purpose of building real estate projects in settlements in the occupied West Bank and East Jerusalem and holds the companies’ rights to the lands and projects as collateral. In addition, the bank provided hundreds of mortgages for properties in settlements in the occupied West Bank.
Financing Settlement Development Projects
The Jerusalem Light Rail
Bank Hapoalim financed the establishment and expansion of the Jerusalem Light Rail in occupied East Jerusalem.
The Jerusalem Light Rail (JLR) network is a large-scale Israeli transport infrastructure project connecting large settlement blocks in occupied East Jerusalem to the center of the city and its western side, creating territorial continuity and easing settler movement on both sides of the Green Line.
Bank Hapoalim financed the establishment of the Jerusalem Light Rail for the previous franchise and operator, the Citypass Group, and later organized and financed the J-Net Project for the expansion of the JLR network.
In 2006, the bank financed the establishment of the JLR and its first line, the Red Line, in a joint financing agreement of approximately NIS 2 billion together with Bank Leumi. In 2020, Bank Hapoalim led the consortium to finance the expansion of the JLR Red Line and the establishment of the Green Line as part of the J-Net Project. Bank Hapoalim, with the participation of the First International Bank and Migdal, awarded the CAF and Shapir Engineering and Industrywith NIS 3.5 billion. For more on the J-Net Project, see Who Profits report Developments in the Expansion of the JLR Network: The J-Net Project
Between 2019 and 2022, the bank financed construction works for the Jerusalem Light Rail J-Net project. In May 2022, the bank granted Israeli construction company Bardarian Brothers a loan in connection with a contracting agreement to carry out infrastructure works for the laying of railway tracks in the Gilo settlement neighborhood in occupied East Jerusalem for the JLR Green Line route. In December 2019, the bank granted the company a loan in connection with a contract to carry out work at the Pat Junction in Jerusalem as part of infrastructure and development work of the Green Line.
Wind Farms in the Occupied Syrian Golan
Bank Hapoalim financed the construction of the Ruach Beresheet and Emek Habacha wind turbine farms in the occupied Syrian Golan.
In 2020, the bank provided Enlight Renewable Energy with more than NIS 1 billion for the establishment of two of the largest Israeli wind energy projects in the Golan, contingent on the exploitation of occupied land and natural resources for the benefit of Israeli households and industry on both sides of the Green Line.
For more on the exploitation of occupied natural resources by the Israeli renewable energy sector, see Who Profits’ report Greenwashing Dispossession: The Israeli Renewable Energy Industry and the Exploitation of Occupied Natural Resources.
Tours in Settlements
Bank Hapoalim promotes and sponsors tours in cooperation with settler organizations in the occupied West Bank, East Jerusalem and the Syrian Golan.
In 2024, the bank promoted and sponsored tours in the City of David in occupied East Jerusalem in cooperation with the Elad settler organization. In addition, the bank sponsored guided tours in cooperation with the Eshkolot settler organization in Nebi Samuel in the West Bank and a tour led by the Shomron Tourist and Study Center, based in the settlement of Sahvei Shomron in the occupied West Bank. In 2021, the bank offered over 30 free guided tours led by Eshkolot, including a tour in the occupied Syrian Golan.
Bus Lines in Settlements
In 2021, Bank Hapoalim signed a financing agreement in the amount of approximately NIS 490 million with Superbus bus company for the purpose of financing its winning of the "Jerusalem Urban Center" cluster. The cluster includes bus lines that reach settlements in occupied East Jerusalem and the West Bank, including the French Hill, Givat Hamivtar, Ramat Eshkol, Ma'ale Hazeitim, Ir David, Ramot, Givat HaMatos and Armon HaNatziv in occupied East Jerusalem, and Rachel's Tomb and Nabi Samuel in the occupied West Bank.
Ariel West Industrial Zone
Bank Hapoalim financed the development of the Ariel West Industrial Zone in the occupied West Bank.
In November 2023, the bank granted three Israeli construction companies loans for a construction project on 14.296 dunams (14,296 square meters) of lands belonging to the Palestinian towns of Marda, Salfit and Hares to be part of the Ariel West Industrial Zone. The project is part of City Plan No. 130/1/6 for registering lands belonging to the towns of Marda, Salfit, and Hares for the purpose of regulating a new plot for a synagogue and expanding the area of engineering facilities to allow cellular antennas placement for cellular companies. The bank granted the companies Estee Steel, Leo Properties, and Sheltam Building, two loans each for the project in the Industrial Zone.
Financing Settlement Construction Projects
Alfei Menashe
Between 2021 and 2026, the bank financed a construction project in the settlement of Alfei Menashe, on lands belonging to the Palestinian town of Azzun in the occupied West Bank. In August 2021, May 2022, and January 2026, the bank granted Israeli construction company Briza BaGivaa loans for a construction project on 8 plots of lands on an area 9.052 dunam belonging to the Palestinian town of Azzun in the occupied West Bank. The project is part of City Plans No. 115/8 and No. 115/8/1 for the design, construction, and development of a residential neighborhood in Alfei Menashe of 1,406 housing units across 469.482 dunams of lands belonging to the town of Azzun. The bank holds as collateral a first-degree permanent lien on all of the company's current and future rights in connection with the land and the real estate.
Givat HaMatos
Between 2021 and 2025, the bank financed the construction of 180 housing units in the settlement neighborhood of Givat HaMatos in occupied East Jerusalem. The construction project is part of Plan No. מק/14295 for construction and development on an area of 369.393 dunams in Givat HaMatos, which explicitly includes the consolidation and division of lands without the consent of their owners. In April 2021, March 2022, November 2024, and May 2025, the bank granted Israeli construction company Effi Capital Nadlan Ltd. loans for the construction project, for which the bank holds first-degree permanent liens on all the company's rights and income arising from the real estate.
Gilo
In March and August 2024, the bank granted Israeli construction company Hasid Brothers Building Contracting Co. two loans for the construction of 54 housing units in an area of 5.333 dunams in the settlement neighborhood of Gilo in occupied East Jerusalem. The project is part of City Plan No. 13157 for the development of a new residential complex of approximately 797 units in the west of the Gilo neighborhood. The bank holds as collateral a lien on the company's rights and current and its future assets arising from the real estate project.
Efrat
In September 2024, the bank granted the company a loan for a construction project of 62 housing units on 7.697 dunams on lands in the settlement of Efrat. The project is part of City Plan No. 410/5/66 for development in the Givat HaTamar neighborhood in the Efrat settlement on 123.324 dunam of lands belonging to the Palestinian town of al-Khader. The bank holds as collateral a first-degree permanent lien on all the company's rights, assets, funds, and property related to the land or project, including rights arising from agreements with apartment purchasers in the project.
In December 2023, the bank granted the company a loan for a construction project on 2.377 dunams of land belonging to the Palestinian village of Artas in the occupied West Bank as part of the expansion of the settlement of Efrat. The project is part of City Plan No. 410/5/52 for determining rights and construction instructions over 6.136 dunams of land belonging to the Palestinian village of Artas as part of development in the neighborhood of Givat HaDagan in the Efrat settlement. The bank holds as collateral a first-degree permanent lien on all the company's rights, assets, funds, and property related to the land or project, including rights arising from agreements with apartment purchasers in the project.
In 2022 and 2021, Bank Hapoalim granted Israeli construction company Ba'al Hatanie company a loan for a construction project of 32 housing units in the settlement of Efrat in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Talpiot East
In May 2023, the bank granted the company a loan in connection with its contract with Moriah Jerusalem Development Company for surfacing and development of sports fields in the settlement neighborhood of Talpiot East in occupied East Jerusalem. The bank holds as collateral a first-degree lien without a limit on the development contract.
Zufim
In May 2023, the bank granted Israeli construction company Shriki Group Enterprises & Construction a NIS 800 million loan for construction on two plots of land in total size of 15.978 dunams of land in the settlement of Zufim, on lands belonging to the Palestinian village of Jayyus. The bank granted the company a loan of up to NIS 400 million for each plot and holds as collateral all the company's rights in the land. The project is part of Plan 149/11/2 for the construction of residential and commercial areas and public buildings on the agricultural lands of Jayyus and the Palestinian town of Azzun.
Beitar Ilit
In March 2022, the bank granted Israeli construction company Boneich Construction Development & Investments a loan for a construction project across 3.773 dunams on lands in the settlement of Beitar Illit. The project is part of City Plan No. 426/3 for determining residential land zoning on Hill C in the settlement. The bank holds as collateral a first-degree permanent lien on all the company's rights related to the real estate, including under a lease agreement signed with the Commissioner of Abandoned and Government Property in the West Bank in the Civil Administration.
Between 2019 and 2022, the bank granted Bonim Nachon company several loans for a construction project in the settlement of Beitar Illit on lands belonging to the Palestinian villages of Wadi Fukin, Husan, and Nahalin in the occupied West Bank, in accordance with Plan No. 8\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2021, Bank Hapoalim granted A. Haver company a loan for its project in the settlement of Beitar Illit, on lands belonging to the Palestinian village of Husan in the occupied West Bank, in accordance with City Plan No. 10\3\1\1\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2021, Bank Hapoalim granted Ofer Aharon company a loan for its project in the settlement of Beitar Illit, on lands belonging to the Palestinian village of Husan in the occupied West Bank, in accordance with City Plan No. 10\3\1\1\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In May 2020, Bank Hapoalim granted the company Eli Yohanan a loan for a lot in Beitar Illit settlement, in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2019, Bank Hapoalim granted the company Mishkan Eliyahu a loan for the construction of 4-6 housing units in the settlement of Beitar Illit on lands belonging to the Palestinian Village of Husan, in accordance with City Plan No. 10/ב/426/7. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Givat Ze'ev
In 2021, Bank Hapoalim granted Israeli construction company Sasi a loan for the construction of 552 housing units in the settlement of Givat Ze'ev in the occupied West Bank, in accordance to Plan No. 9\220. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Ma'ale Adumim
In 2021, Bank Hapoliam granted Tsipiya Yazamut company a loan for the construction of 18 housing units in the settlement of Ma'ale Adumim, on the lands belonging to the Palestinian town of al-Aizariya in the occupied West Bank, according to City Plan No. 52\3\1\420. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2020, the bank granted the company Mishkan Eliyahu a loan for the construction of 104 housing units in the settlement of Ma'ale Adumim on lands belonging to the Palestinian village of al-Azariyah in the occupied West Bank, in accordance with Plan No. 42\4\1\420. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Har Homa
In 2021 and 2020, Bank Hapoalim granted Israeli company Ofer Aharon a mortgage for the construction of 125 housing units in Har Homa settlement neighborhood in occupied East Jerusalem, according to City Plan No. 10310.
Beit Aryeh
In 2020, Bank Hapoalim granted the Mateh Binyamin Development Company a loan for the construction of 372 housing units in the settlement of Beit Aryeh in the occupied West Bank, in accordance with Plan No. 2\2\202. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Karnei Shomron
In 2020, Bank Hapoalim granted Mivneh company a loan for a construction project in the settlement of Karnei Shomron on lands belonging to the Palestinian village of Deir Istiya in the occupied West Bank, in accordance with Plan No. 117\8. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Kiryat Arba Industrial Zone
Also in 2020, Bank Hapoalim provided Mivneh with a NIS 3,500,000 loan for a 12,000-meter plot in the Kiryat Arba Industrial Zone in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Modi’in Ilit
In June 2019, the bank granted Israeli construction company Dona Engineering and Construction a loan for a construction project of 156 housing units on 6 plots of land in the settlement of Modiin Ilit across 29.412 dunam of lands belonging to the Palestinian town of Deir Qaddis in the occupied West Bank. The project is part of City Plan No. 210/6/3 for residential and commercial areas in the new neighborhood on lands of Deir Qaddis. The bank holds as collateral a first-degree permanent lien on all the company's rights of any kind related to the real estate, including under a lease agreement signed with the Commissioner of Abandoned and Government Property in the West Bank in the Civil Administration.
Ma'ale Efraim
In 2019 and 2021, Bank Hapoalim granted YSD Meitav company a loan for the construction of 44 housing units in the settlement of Ma'ale Efraim in the occupied West Bank, in accordance with Plan No. 1\13\310. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Kfar Adumim
In June 2019, the bank granted Israeli settlement-based construction company Zalman Barashi & Bros Co. a loan for the "Giv'at HaYeshiva" neighborhood development project for the construction and development of a neighborhood complex on approximately 404 dunams in the settlement of Kfar Adumim. The bank holds as collateral a first-degree permanent lien on all the company's rights of any kind related to the planned project and the property.
In 2019, Bank Hapoalim granted the company Zalman Barashi a loan for the construction of 300 housing units in the settlement of Kfar Adumim. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Previously, the bank financed additional construction projects in the settlements of Beitar Illit, Ma'ale Adumim and Efrat in the occupied West Bank, and Har Homa, and Pisgat Ze'ev in occupied East Jerusalem. For more, see Who Profits’ 2017 report Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Financing Settlement-Based Construction Companies
In July 2025, March 2025, December 2024, and May 2024, the bank granted settlement-based construction company Ofek Engineering (Aba) Ltd. loans for which the bank holds as collateral a first-degree permanent lien in an unlimited amount on company vehicles. The company is based in the settlement of Tzufim in the West Bank and mainly engages in construction in settlements in the occupied West Bank.
In August 2023, the bank granted Israeli real estate development company Harey Zahav Ltd. a loan for which the bank holds as collateral a first-degree lien on all of the company’s rights in financial deposits in the amount of NIS 110,000 held in its account at the bank. The company is based in the settlement of Alei Zahav in the occupied West Bank and has development projects in dozens of settlements in the West Bank.
Mortgages for Settlement Properties
In December 2021, as part of a class action lawsuit against the bank for alleged discrimination in providing mortgages, the bank showed that it had granted hundreds of housing loans to customers living in settlements in the occupied West Bank.
Banking Services to Settlement Local and Regional Councils
Bank Hapoalim provides loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
Bank Hapoalim provide loans, credit facilities and various banking services for over 150 settlements in the occupied West Bank and the Syrian Golan. These include the Gush Etzion Regional Council (consisting of 24 settlements), the Har Hevron Regional Council (consisting of 23 settlements in the South Hebron Hills area), the Jordan Valley Regional Council (consisting of 21 settlements in the Jordan Valley area), the Mateh Binyamin Regional Council (consisting of 52 settlements), the Megilot Dead Sea Regional Council (consisting of 8 settlements in the northern Dead Sea area), and the settlements of Beit El, Beitar Ilit, Efrat, Elkana, Emanuel, Givat Ze'ev, Har Adar, Karnei Shomron, Kdumim, and Ma'ale Adumim in the occupied West Bank. In addition, the bank has provided such services to the Golan Regional Council, consisting of 33 settlements in the occupied Syrian Golan.
Gush Etzion Regional Council
As of April 2026, Hapolaim Bank had 2 active pledge agreements with the Gush Etzion Regional Council.
In September 2024, Bank Hapoalim signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2123). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In September 2018, Bank Hapoalim signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2117). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Har Hevron Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Har Hevron Regional Council.
In April 2023, Bank Hapoalim signed a pledge agreement with the Har Hevron Regional Council for a period of 15 years (ends 2038) for which the company holds as collateral all council’s current and future revenue as collateral.
According to the Regional Council’s meeting protocols, in August 2022, the council approved a NIS 8 million loan from the bank and decided to open an account at the bank.
Jordan Valley Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Jordan Valley Regional Council. The Jordan Valley Regional Council (also known as Bik'at HaYarden Regional Council) consists of 21 settlements in the Jordan Valley area in the occupied West Bank.
In February 2022, Hapolaim Bank signed a pledge agreement with the Jordan Valley Regional Council for a period of 99 years (ends 2121) against all the council's revenues, including property tax and financial levies, with the exception of funds originating water and sewage.
Mateh Binyamin Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Mateh Binyamin Regional Council. The Mateh Binyamin Regional Council consists of 52 settlements in the central occupied West Bank.
Megilot Dead Sea Regional Council
As of April 2026, Hapolaim Bank had 2 active pledge agreements with the Megilot Dead Sea Regional Council. The Megilot Dead Sea Regional Council consists of 8 settlements in the northern Dead Sea area in the occupied West Bank.
In August 2025, Bank Hapoalim signed a pledge agreement with the Megilot Regional Council for a period of one year (ends 2026). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In October 2021, Bank Hapoalim signed a pledge agreement with the Megilot Regional Council for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget.
According to the Regional Council’s meeting protocols from November 2024, the bank operates the council's school bank account.
Beit El
As of April 2026, Bank Hapoalim had 3 active pledge agreements with the Beit El Local Council in the occupied West Bank.
In December 2024, Bank Hapoalim signed a pledge agreement with the Beit El Local Council for a period of 99 years (ends 2123). The bank holds a first-degree lien on the council’s rights to all current and future revenues, excluding funds originating from the state budget and from water and sewage.
Beitar Ilit
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Beitar Ilit Municipality in the occupied West Bank.
In December 2021, Bank Hapoalim signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Municipality’s meeting protocols, in June 2022, the Municipality’s Finance Committee approved a NIS 3 million loan from the bank for financing the replacement of street lighting in the settlement.
Efrat
As of April 2026, Bank Hapoalim had 8 active pledge agreements with the Efrat Local Council in the occupied West Bank.
In January 2024, Bank Hapoalim signed a pledge agreement with the Efrat Local Council for a period of 99 years (ends 2123). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Elkana
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Elkana Local Council in the occupied West Bank.
In July 2021, Bank Hapoalim signed a pledge agreement with the Elkana Local Council for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Local Council’s meeting protocols from June 2025, the bank operates 2 bank accounts for a school in the council's jurisdiction, one for council funds and the other for school parents' funds.
In January 2023, the Elkana municipality general assembly approved the pledge of the council’s revenue for a NIS 450,000 loan from the bank.
Emanuel
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Emanuel Local Council in the occupied West Bank.
In May 1999, Bank Hapoalim signed a pledge agreement with the Emanuel Local Council for a period of 99 years (ends 2098). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget.
According to the Local Council’s meeting protocols, in November 2023, the Emanuel Local Council general assembly approved the pledge of the council’s revenue as collateral for a NIS 250,000 loan from the bank for the year 2024.
Givat Zeev
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank.
In October 1994, Hapoalim Americai Israeli Ltd. (which was merged into Bank Hapoalim in 1998) signed a pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank for a period of 99 years, holding the council’s revenue as collateral.
Har Adar
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Har Adar Local Council in the occupied West Bank.
In December 2019, Bank Hapoalim signed a pledge agreement with the Har Adar Local Council in the occupied West Bank for a period of 99 years against all council’s properties and assets as collateral.
Karnei Shomron
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Karnei Shomron Local Council in the occupied West Bank.
In April 2019, Bank Hapoalim signed a pledge agreement with the Karnei Shomron Local Council for a period of 99 years (ends 2118). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Kdumim
As of April 2026, Bank Hapoalim had 4 active pledge agreements with the Kdumim Local Council in the occupied West Bank.
In March 2018, Bank Hapoalim signed a pledge agreement with the Kdumim Local Council for a period of 99 years (ends 2117). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Ma'ale Adumim
As of April 2026, Bank Hapoalim had 9 active pledge agreements with the Ma’ale Adumim Municipality in the occupied West Bank.
In November 2024, Bank Hapoalim signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 15 years (ends 2040). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Golan Regional Council
As of April 2026, Bank Hapoalim had 5 active pledge agreements with the Golan Regional Council. The Golan Regional Council consists of 33 settlements in the occupied Syrian Golan.
In January 2026, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of one year (ends 2027). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In February 2024, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of 12 years (ends 2036). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In May 2021, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of 11 years (ends 2032). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Regional Council’s meeting protocols, in 2025, Bank Hapoalim provided the council with a NIS 3 million credit facility. In December 2025, the council approved a NIS 3 million current loan account credit facility with Bank Hapoalim for 2026. According to the meeting protocols from December 2024, the bank provided the council with services including operating a bank account, deposits, foreign currency, securities, loans and credit facilities, and bank guarantees.
Branches in Settlements
Bank Hapoalim operates branches providing banking services in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
The bank operates 2 branches in the settlement of Ariel, and branches in the settlements of Beitar Ilit and Ma’ale Adumim in the occupied West Bank; branches in settlement neighborhoods of Ramot, Ramot Eshkol, Pisgat Ze’ev and the French Hill in occupied East Jerusalem; and a branch in the settlement of Bnei Yehuda in the Syrian Golan. In addition, the bank operates additional Automated Teller Machines (ATMs) and self-service banking machines in the settlement neighborhoods of Pisgat Ze’ev, Gilo, Neve Yaakov and Talpiot East (Armon HaNatziv) in occupied East Jerusalem.
Palestinian Captive Market
Bank Hapoalim benefits from access to the Palestinian banking market as a captive market.
Bank Hapoalim provides banking correspondence services to banks operating in the Palestinian Authority that are dependent on the Israeli banking system. Under the Paris Protocol, the Palestinian economy is subject to the Israeli currency and the Palestinian banking market's financial dealings with the rest of the world must go through the Israeli banking system. Palestinian banks are dependent on Israeli banks, which serve as correspondent banks, for fund transfers and clearing services, for which the bank requires deposit exorbitant cash collaterals and charges high commissions, and imposes restrictions on the transfer of money.
In addition, the bank operates a branch in Salah al-Deen Street in occupied East Jerusalem.
Financing Military Projects
In 2022, Bank Hapoalim financed the establishment of the Israeli Ministry of Defense’s "Ofek Rahav" military camp, carried out by Shikun & Binui Group and Malam Team companies. According to an agreement from 2022, Bank Hapoalim provided Shikun & Binui Group with short and long term loans in the total amount of NIS 1.3 billion.
In 2012, Bank Hapoalim lent the Ministry of Defense 200 million euros to finance the purchase of 30 training and instructional planes in the amount of 1 billion euros.
Financial Support for the Israeli Military
Bank Hapoalim funds a program that provides grants, placements, and training, including NIS 12 million in scholarships for military and security forces personnel injured in service since October 2023 during the genocide in Gaza.
Bank Hapoalim B.M. is a publicly traded Israeli commercial bank that operates in various banking areas and related activities in the capital market, including business, retail, and financial markets and international banking.
Bank Hapoalim provides financial foundation and services for settlements and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory. In addition, the bank provides mortgages for the purchase of properties in settlements in the occupied West Bank. Furthermore, the bank benefits from access to the Palestinian banking market as a captive market that is dependent on the Israeli banking system.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Hapoalim provides financial infrastructure and mortgages to various construction companies for the purpose of building real estate projects in settlements in the occupied West Bank and East Jerusalem and holds the companies’ rights to the lands and projects as collateral. In addition, the bank provided hundreds of mortgages for properties in settlements in the occupied West Bank.
Financing Settlement Development Projects
The Jerusalem Light Rail
Bank Hapoalim financed the establishment and expansion of the Jerusalem Light Rail in occupied East Jerusalem.
The Jerusalem Light Rail (JLR) network is a large-scale Israeli transport infrastructure project connecting large settlement blocks in occupied East Jerusalem to the center of the city and its western side, creating territorial continuity and easing settler movement on both sides of the Green Line.
Bank Hapoalim financed the establishment of the Jerusalem Light Rail for the previous franchise and operator, the Citypass Group, and later organized and financed the J-Net Project for the expansion of the JLR network.
In 2006, the bank financed the establishment of the JLR and its first line, the Red Line, in a joint financing agreement of approximately NIS 2 billion together with Bank Leumi. In 2020, Bank Hapoalim led the consortium to finance the expansion of the JLR Red Line and the establishment of the Green Line as part of the J-Net Project. Bank Hapoalim, with the participation of the First International Bank and Migdal, awarded the CAF and Shapir Engineering and Industrywith NIS 3.5 billion. For more on the J-Net Project, see Who Profits report Developments in the Expansion of the JLR Network: The J-Net Project
Between 2019 and 2022, the bank financed construction works for the Jerusalem Light Rail J-Net project. In May 2022, the bank granted Israeli construction company Bardarian Brothers a loan in connection with a contracting agreement to carry out infrastructure works for the laying of railway tracks in the Gilo settlement neighborhood in occupied East Jerusalem for the JLR Green Line route. In December 2019, the bank granted the company a loan in connection with a contract to carry out work at the Pat Junction in Jerusalem as part of infrastructure and development work of the Green Line.
Wind Farms in the Occupied Syrian Golan
Bank Hapoalim financed the construction of the Ruach Beresheet and Emek Habacha wind turbine farms in the occupied Syrian Golan.
In 2020, the bank provided Enlight Renewable Energy with more than NIS 1 billion for the establishment of two of the largest Israeli wind energy projects in the Golan, contingent on the exploitation of occupied land and natural resources for the benefit of Israeli households and industry on both sides of the Green Line.
For more on the exploitation of occupied natural resources by the Israeli renewable energy sector, see Who Profits’ report Greenwashing Dispossession: The Israeli Renewable Energy Industry and the Exploitation of Occupied Natural Resources.
Tours in Settlements
Bank Hapoalim promotes and sponsors tours in cooperation with settler organizations in the occupied West Bank, East Jerusalem and the Syrian Golan.
In 2024, the bank promoted and sponsored tours in the City of David in occupied East Jerusalem in cooperation with the Elad settler organization. In addition, the bank sponsored guided tours in cooperation with the Eshkolot settler organization in Nebi Samuel in the West Bank and a tour led by the Shomron Tourist and Study Center, based in the settlement of Sahvei Shomron in the occupied West Bank. In 2021, the bank offered over 30 free guided tours led by Eshkolot, including a tour in the occupied Syrian Golan.
Bus Lines in Settlements
In 2021, Bank Hapoalim signed a financing agreement in the amount of approximately NIS 490 million with Superbus bus company for the purpose of financing its winning of the "Jerusalem Urban Center" cluster. The cluster includes bus lines that reach settlements in occupied East Jerusalem and the West Bank, including the French Hill, Givat Hamivtar, Ramat Eshkol, Ma'ale Hazeitim, Ir David, Ramot, Givat HaMatos and Armon HaNatziv in occupied East Jerusalem, and Rachel's Tomb and Nabi Samuel in the occupied West Bank.
Ariel West Industrial Zone
Bank Hapoalim financed the development of the Ariel West Industrial Zone in the occupied West Bank.
In November 2023, the bank granted three Israeli construction companies loans for a construction project on 14.296 dunams (14,296 square meters) of lands belonging to the Palestinian towns of Marda, Salfit and Hares to be part of the Ariel West Industrial Zone. The project is part of City Plan No. 130/1/6 for registering lands belonging to the towns of Marda, Salfit, and Hares for the purpose of regulating a new plot for a synagogue and expanding the area of engineering facilities to allow cellular antennas placement for cellular companies. The bank granted the companies Estee Steel, Leo Properties, and Sheltam Building, two loans each for the project in the Industrial Zone.
Financing Settlement Construction Projects
Alfei Menashe
Between 2021 and 2026, the bank financed a construction project in the settlement of Alfei Menashe, on lands belonging to the Palestinian town of Azzun in the occupied West Bank. In August 2021, May 2022, and January 2026, the bank granted Israeli construction company Briza BaGivaa loans for a construction project on 8 plots of lands on an area 9.052 dunam belonging to the Palestinian town of Azzun in the occupied West Bank. The project is part of City Plans No. 115/8 and No. 115/8/1 for the design, construction, and development of a residential neighborhood in Alfei Menashe of 1,406 housing units across 469.482 dunams of lands belonging to the town of Azzun. The bank holds as collateral a first-degree permanent lien on all of the company's current and future rights in connection with the land and the real estate.
Givat HaMatos
Between 2021 and 2025, the bank financed the construction of 180 housing units in the settlement neighborhood of Givat HaMatos in occupied East Jerusalem. The construction project is part of Plan No. מק/14295 for construction and development on an area of 369.393 dunams in Givat HaMatos, which explicitly includes the consolidation and division of lands without the consent of their owners. In April 2021, March 2022, November 2024, and May 2025, the bank granted Israeli construction company Effi Capital Nadlan Ltd. loans for the construction project, for which the bank holds first-degree permanent liens on all the company's rights and income arising from the real estate.
Gilo
In March and August 2024, the bank granted Israeli construction company Hasid Brothers Building Contracting Co. two loans for the construction of 54 housing units in an area of 5.333 dunams in the settlement neighborhood of Gilo in occupied East Jerusalem. The project is part of City Plan No. 13157 for the development of a new residential complex of approximately 797 units in the west of the Gilo neighborhood. The bank holds as collateral a lien on the company's rights and current and its future assets arising from the real estate project.
Efrat
In September 2024, the bank granted the company a loan for a construction project of 62 housing units on 7.697 dunams on lands in the settlement of Efrat. The project is part of City Plan No. 410/5/66 for development in the Givat HaTamar neighborhood in the Efrat settlement on 123.324 dunam of lands belonging to the Palestinian town of al-Khader. The bank holds as collateral a first-degree permanent lien on all the company's rights, assets, funds, and property related to the land or project, including rights arising from agreements with apartment purchasers in the project.
In December 2023, the bank granted the company a loan for a construction project on 2.377 dunams of land belonging to the Palestinian village of Artas in the occupied West Bank as part of the expansion of the settlement of Efrat. The project is part of City Plan No. 410/5/52 for determining rights and construction instructions over 6.136 dunams of land belonging to the Palestinian village of Artas as part of development in the neighborhood of Givat HaDagan in the Efrat settlement. The bank holds as collateral a first-degree permanent lien on all the company's rights, assets, funds, and property related to the land or project, including rights arising from agreements with apartment purchasers in the project.
In 2022 and 2021, Bank Hapoalim granted Israeli construction company Ba'al Hatanie company a loan for a construction project of 32 housing units in the settlement of Efrat in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Talpiot East
In May 2023, the bank granted the company a loan in connection with its contract with Moriah Jerusalem Development Company for surfacing and development of sports fields in the settlement neighborhood of Talpiot East in occupied East Jerusalem. The bank holds as collateral a first-degree lien without a limit on the development contract.
Zufim
In May 2023, the bank granted Israeli construction company Shriki Group Enterprises & Construction a NIS 800 million loan for construction on two plots of land in total size of 15.978 dunams of land in the settlement of Zufim, on lands belonging to the Palestinian village of Jayyus. The bank granted the company a loan of up to NIS 400 million for each plot and holds as collateral all the company's rights in the land. The project is part of Plan 149/11/2 for the construction of residential and commercial areas and public buildings on the agricultural lands of Jayyus and the Palestinian town of Azzun.
Beitar Ilit
In March 2022, the bank granted Israeli construction company Boneich Construction Development & Investments a loan for a construction project across 3.773 dunams on lands in the settlement of Beitar Illit. The project is part of City Plan No. 426/3 for determining residential land zoning on Hill C in the settlement. The bank holds as collateral a first-degree permanent lien on all the company's rights related to the real estate, including under a lease agreement signed with the Commissioner of Abandoned and Government Property in the West Bank in the Civil Administration.
Between 2019 and 2022, the bank granted Bonim Nachon company several loans for a construction project in the settlement of Beitar Illit on lands belonging to the Palestinian villages of Wadi Fukin, Husan, and Nahalin in the occupied West Bank, in accordance with Plan No. 8\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2021, Bank Hapoalim granted A. Haver company a loan for its project in the settlement of Beitar Illit, on lands belonging to the Palestinian village of Husan in the occupied West Bank, in accordance with City Plan No. 10\3\1\1\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2021, Bank Hapoalim granted Ofer Aharon company a loan for its project in the settlement of Beitar Illit, on lands belonging to the Palestinian village of Husan in the occupied West Bank, in accordance with City Plan No. 10\3\1\1\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In May 2020, Bank Hapoalim granted the company Eli Yohanan a loan for a lot in Beitar Illit settlement, in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2019, Bank Hapoalim granted the company Mishkan Eliyahu a loan for the construction of 4-6 housing units in the settlement of Beitar Illit on lands belonging to the Palestinian Village of Husan, in accordance with City Plan No. 10/ב/426/7. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Givat Ze'ev
In 2021, Bank Hapoalim granted Israeli construction company Sasi a loan for the construction of 552 housing units in the settlement of Givat Ze'ev in the occupied West Bank, in accordance to Plan No. 9\220. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Ma'ale Adumim
In 2021, Bank Hapoliam granted Tsipiya Yazamut company a loan for the construction of 18 housing units in the settlement of Ma'ale Adumim, on the lands belonging to the Palestinian town of al-Aizariya in the occupied West Bank, according to City Plan No. 52\3\1\420. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2020, the bank granted the company Mishkan Eliyahu a loan for the construction of 104 housing units in the settlement of Ma'ale Adumim on lands belonging to the Palestinian village of al-Azariyah in the occupied West Bank, in accordance with Plan No. 42\4\1\420. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Har Homa
In 2021 and 2020, Bank Hapoalim granted Israeli company Ofer Aharon a mortgage for the construction of 125 housing units in Har Homa settlement neighborhood in occupied East Jerusalem, according to City Plan No. 10310.
Beit Aryeh
In 2020, Bank Hapoalim granted the Mateh Binyamin Development Company a loan for the construction of 372 housing units in the settlement of Beit Aryeh in the occupied West Bank, in accordance with Plan No. 2\2\202. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Karnei Shomron
In 2020, Bank Hapoalim granted Mivneh company a loan for a construction project in the settlement of Karnei Shomron on lands belonging to the Palestinian village of Deir Istiya in the occupied West Bank, in accordance with Plan No. 117\8. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Kiryat Arba Industrial Zone
Also in 2020, Bank Hapoalim provided Mivneh with a NIS 3,500,000 loan for a 12,000-meter plot in the Kiryat Arba Industrial Zone in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Modi’in Ilit
In June 2019, the bank granted Israeli construction company Dona Engineering and Construction a loan for a construction project of 156 housing units on 6 plots of land in the settlement of Modiin Ilit across 29.412 dunam of lands belonging to the Palestinian town of Deir Qaddis in the occupied West Bank. The project is part of City Plan No. 210/6/3 for residential and commercial areas in the new neighborhood on lands of Deir Qaddis. The bank holds as collateral a first-degree permanent lien on all the company's rights of any kind related to the real estate, including under a lease agreement signed with the Commissioner of Abandoned and Government Property in the West Bank in the Civil Administration.
Ma'ale Efraim
In 2019 and 2021, Bank Hapoalim granted YSD Meitav company a loan for the construction of 44 housing units in the settlement of Ma'ale Efraim in the occupied West Bank, in accordance with Plan No. 1\13\310. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Kfar Adumim
In June 2019, the bank granted Israeli settlement-based construction company Zalman Barashi & Bros Co. a loan for the "Giv'at HaYeshiva" neighborhood development project for the construction and development of a neighborhood complex on approximately 404 dunams in the settlement of Kfar Adumim. The bank holds as collateral a first-degree permanent lien on all the company's rights of any kind related to the planned project and the property.
In 2019, Bank Hapoalim granted the company Zalman Barashi a loan for the construction of 300 housing units in the settlement of Kfar Adumim. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Previously, the bank financed additional construction projects in the settlements of Beitar Illit, Ma'ale Adumim and Efrat in the occupied West Bank, and Har Homa, and Pisgat Ze'ev in occupied East Jerusalem. For more, see Who Profits’ 2017 report Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Financing Settlement-Based Construction Companies
In July 2025, March 2025, December 2024, and May 2024, the bank granted settlement-based construction company Ofek Engineering (Aba) Ltd. loans for which the bank holds as collateral a first-degree permanent lien in an unlimited amount on company vehicles. The company is based in the settlement of Tzufim in the West Bank and mainly engages in construction in settlements in the occupied West Bank.
In August 2023, the bank granted Israeli real estate development company Harey Zahav Ltd. a loan for which the bank holds as collateral a first-degree lien on all of the company’s rights in financial deposits in the amount of NIS 110,000 held in its account at the bank. The company is based in the settlement of Alei Zahav in the occupied West Bank and has development projects in dozens of settlements in the West Bank.
Mortgages for Settlement Properties
In December 2021, as part of a class action lawsuit against the bank for alleged discrimination in providing mortgages, the bank showed that it had granted hundreds of housing loans to customers living in settlements in the occupied West Bank.
Banking Services to Settlement Local and Regional Councils
Bank Hapoalim provides loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
Bank Hapoalim provide loans, credit facilities and various banking services for over 150 settlements in the occupied West Bank and the Syrian Golan. These include the Gush Etzion Regional Council (consisting of 24 settlements), the Har Hevron Regional Council (consisting of 23 settlements in the South Hebron Hills area), the Jordan Valley Regional Council (consisting of 21 settlements in the Jordan Valley area), the Mateh Binyamin Regional Council (consisting of 52 settlements), the Megilot Dead Sea Regional Council (consisting of 8 settlements in the northern Dead Sea area), and the settlements of Beit El, Beitar Ilit, Efrat, Elkana, Emanuel, Givat Ze'ev, Har Adar, Karnei Shomron, Kdumim, and Ma'ale Adumim in the occupied West Bank. In addition, the bank has provided such services to the Golan Regional Council, consisting of 33 settlements in the occupied Syrian Golan.
Gush Etzion Regional Council
As of April 2026, Hapolaim Bank had 2 active pledge agreements with the Gush Etzion Regional Council.
In September 2024, Bank Hapoalim signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2123). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In September 2018, Bank Hapoalim signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2117). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Har Hevron Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Har Hevron Regional Council.
In April 2023, Bank Hapoalim signed a pledge agreement with the Har Hevron Regional Council for a period of 15 years (ends 2038) for which the company holds as collateral all council’s current and future revenue as collateral.
According to the Regional Council’s meeting protocols, in August 2022, the council approved a NIS 8 million loan from the bank and decided to open an account at the bank.
Jordan Valley Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Jordan Valley Regional Council. The Jordan Valley Regional Council (also known as Bik'at HaYarden Regional Council) consists of 21 settlements in the Jordan Valley area in the occupied West Bank.
In February 2022, Hapolaim Bank signed a pledge agreement with the Jordan Valley Regional Council for a period of 99 years (ends 2121) against all the council's revenues, including property tax and financial levies, with the exception of funds originating water and sewage.
Mateh Binyamin Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Mateh Binyamin Regional Council. The Mateh Binyamin Regional Council consists of 52 settlements in the central occupied West Bank.
Megilot Dead Sea Regional Council
As of April 2026, Hapolaim Bank had 2 active pledge agreements with the Megilot Dead Sea Regional Council. The Megilot Dead Sea Regional Council consists of 8 settlements in the northern Dead Sea area in the occupied West Bank.
In August 2025, Bank Hapoalim signed a pledge agreement with the Megilot Regional Council for a period of one year (ends 2026). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In October 2021, Bank Hapoalim signed a pledge agreement with the Megilot Regional Council for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget.
According to the Regional Council’s meeting protocols from November 2024, the bank operates the council's school bank account.
Beit El
As of April 2026, Bank Hapoalim had 3 active pledge agreements with the Beit El Local Council in the occupied West Bank.
In December 2024, Bank Hapoalim signed a pledge agreement with the Beit El Local Council for a period of 99 years (ends 2123). The bank holds a first-degree lien on the council’s rights to all current and future revenues, excluding funds originating from the state budget and from water and sewage.
Beitar Ilit
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Beitar Ilit Municipality in the occupied West Bank.
In December 2021, Bank Hapoalim signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Municipality’s meeting protocols, in June 2022, the Municipality’s Finance Committee approved a NIS 3 million loan from the bank for financing the replacement of street lighting in the settlement.
Efrat
As of April 2026, Bank Hapoalim had 8 active pledge agreements with the Efrat Local Council in the occupied West Bank.
In January 2024, Bank Hapoalim signed a pledge agreement with the Efrat Local Council for a period of 99 years (ends 2123). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Elkana
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Elkana Local Council in the occupied West Bank.
In July 2021, Bank Hapoalim signed a pledge agreement with the Elkana Local Council for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Local Council’s meeting protocols from June 2025, the bank operates 2 bank accounts for a school in the council's jurisdiction, one for council funds and the other for school parents' funds.
In January 2023, the Elkana municipality general assembly approved the pledge of the council’s revenue for a NIS 450,000 loan from the bank.
Emanuel
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Emanuel Local Council in the occupied West Bank.
In May 1999, Bank Hapoalim signed a pledge agreement with the Emanuel Local Council for a period of 99 years (ends 2098). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget.
According to the Local Council’s meeting protocols, in November 2023, the Emanuel Local Council general assembly approved the pledge of the council’s revenue as collateral for a NIS 250,000 loan from the bank for the year 2024.
Givat Zeev
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank.
In October 1994, Hapoalim Americai Israeli Ltd. (which was merged into Bank Hapoalim in 1998) signed a pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank for a period of 99 years, holding the council’s revenue as collateral.
Har Adar
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Har Adar Local Council in the occupied West Bank.
In December 2019, Bank Hapoalim signed a pledge agreement with the Har Adar Local Council in the occupied West Bank for a period of 99 years against all council’s properties and assets as collateral.
Karnei Shomron
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Karnei Shomron Local Council in the occupied West Bank.
In April 2019, Bank Hapoalim signed a pledge agreement with the Karnei Shomron Local Council for a period of 99 years (ends 2118). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Kdumim
As of April 2026, Bank Hapoalim had 4 active pledge agreements with the Kdumim Local Council in the occupied West Bank.
In March 2018, Bank Hapoalim signed a pledge agreement with the Kdumim Local Council for a period of 99 years (ends 2117). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Ma'ale Adumim
As of April 2026, Bank Hapoalim had 9 active pledge agreements with the Ma’ale Adumim Municipality in the occupied West Bank.
In November 2024, Bank Hapoalim signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 15 years (ends 2040). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Golan Regional Council
As of April 2026, Bank Hapoalim had 5 active pledge agreements with the Golan Regional Council. The Golan Regional Council consists of 33 settlements in the occupied Syrian Golan.
In January 2026, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of one year (ends 2027). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In February 2024, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of 12 years (ends 2036). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In May 2021, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of 11 years (ends 2032). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Regional Council’s meeting protocols, in 2025, Bank Hapoalim provided the council with a NIS 3 million credit facility. In December 2025, the council approved a NIS 3 million current loan account credit facility with Bank Hapoalim for 2026. According to the meeting protocols from December 2024, the bank provided the council with services including operating a bank account, deposits, foreign currency, securities, loans and credit facilities, and bank guarantees.
Branches in Settlements
Bank Hapoalim operates branches providing banking services in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
The bank operates 2 branches in the settlement of Ariel, and branches in the settlements of Beitar Ilit and Ma’ale Adumim in the occupied West Bank; branches in settlement neighborhoods of Ramot, Ramot Eshkol, Pisgat Ze’ev and the French Hill in occupied East Jerusalem; and a branch in the settlement of Bnei Yehuda in the Syrian Golan. In addition, the bank operates additional Automated Teller Machines (ATMs) and self-service banking machines in the settlement neighborhoods of Pisgat Ze’ev, Gilo, Neve Yaakov and Talpiot East (Armon HaNatziv) in occupied East Jerusalem.
Palestinian Captive Market
Bank Hapoalim benefits from access to the Palestinian banking market as a captive market.
Bank Hapoalim provides banking correspondence services to banks operating in the Palestinian Authority that are dependent on the Israeli banking system. Under the Paris Protocol, the Palestinian economy is subject to the Israeli currency and the Palestinian banking market's financial dealings with the rest of the world must go through the Israeli banking system. Palestinian banks are dependent on Israeli banks, which serve as correspondent banks, for fund transfers and clearing services, for which the bank requires deposit exorbitant cash collaterals and charges high commissions, and imposes restrictions on the transfer of money.
In addition, the bank operates a branch in Salah al-Deen Street in occupied East Jerusalem.
Financing Military Projects
In 2022, Bank Hapoalim financed the establishment of the Israeli Ministry of Defense’s "Ofek Rahav" military camp, carried out by Shikun & Binui Group and Malam Team companies. According to an agreement from 2022, Bank Hapoalim provided Shikun & Binui Group with short and long term loans in the total amount of NIS 1.3 billion.
In 2012, Bank Hapoalim lent the Ministry of Defense 200 million euros to finance the purchase of 30 training and instructional planes in the amount of 1 billion euros.
Financial Support for the Israeli Military
Bank Hapoalim funds a program that provides grants, placements, and training, including NIS 12 million in scholarships for military and security forces personnel injured in service since October 2023 during the genocide in Gaza.
Hapoalim Bank
בנק הפועלים בע"מ
Head office: Rothschild Blvd 50, Tel Aviv-Jaffa 6688314, Israel
Tel.: +972-3-5673800
Bank Hapoalim B.M. is a publicly traded Israeli commercial bank that operates in various banking areas and related activities in the capital market, including business, retail, and financial markets and international banking.
Bank Hapoalim provides financial foundation and services for settlements and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory. In addition, the bank provides mortgages for the purchase of properties in settlements in the occupied West Bank. Furthermore, the bank benefits from access to the Palestinian banking market as a captive market that is dependent on the Israeli banking system.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Hapoalim provides financial infrastructure and mortgages to various construction companies for the purpose of building real estate projects in settlements in the occupied West Bank and East Jerusalem and holds the companies’ rights to the lands and projects as collateral. In addition, the bank provided hundreds of mortgages for properties in settlements in the occupied West Bank.
Financing Settlement Development Projects
The Jerusalem Light Rail
Bank Hapoalim financed the establishment and expansion of the Jerusalem Light Rail in occupied East Jerusalem.
The Jerusalem Light Rail (JLR) network is a large-scale Israeli transport infrastructure project connecting large settlement blocks in occupied East Jerusalem to the center of the city and its western side, creating territorial continuity and easing settler movement on both sides of the Green Line.
Bank Hapoalim financed the establishment of the Jerusalem Light Rail for the previous franchise and operator, the Citypass Group, and later organized and financed the J-Net Project for the expansion of the JLR network.
In 2006, the bank financed the establishment of the JLR and its first line, the Red Line, in a joint financing agreement of approximately NIS 2 billion together with Bank Leumi. In 2020, Bank Hapoalim led the consortium to finance the expansion of the JLR Red Line and the establishment of the Green Line as part of the J-Net Project. Bank Hapoalim, with the participation of the First International Bank and Migdal, awarded the CAF and Shapir Engineering and Industrywith NIS 3.5 billion. For more on the J-Net Project, see Who Profits report Developments in the Expansion of the JLR Network: The J-Net Project
Between 2019 and 2022, the bank financed construction works for the Jerusalem Light Rail J-Net project. In May 2022, the bank granted Israeli construction company Bardarian Brothers a loan in connection with a contracting agreement to carry out infrastructure works for the laying of railway tracks in the Gilo settlement neighborhood in occupied East Jerusalem for the JLR Green Line route. In December 2019, the bank granted the company a loan in connection with a contract to carry out work at the Pat Junction in Jerusalem as part of infrastructure and development work of the Green Line.
Wind Farms in the Occupied Syrian Golan
Bank Hapoalim financed the construction of the Ruach Beresheet and Emek Habacha wind turbine farms in the occupied Syrian Golan.
In 2020, the bank provided Enlight Renewable Energy with more than NIS 1 billion for the establishment of two of the largest Israeli wind energy projects in the Golan, contingent on the exploitation of occupied land and natural resources for the benefit of Israeli households and industry on both sides of the Green Line.
For more on the exploitation of occupied natural resources by the Israeli renewable energy sector, see Who Profits’ report Greenwashing Dispossession: The Israeli Renewable Energy Industry and the Exploitation of Occupied Natural Resources.
Tours in Settlements
Bank Hapoalim promotes and sponsors tours in cooperation with settler organizations in the occupied West Bank, East Jerusalem and the Syrian Golan.
In 2024, the bank promoted and sponsored tours in the City of David in occupied East Jerusalem in cooperation with the Elad settler organization. In addition, the bank sponsored guided tours in cooperation with the Eshkolot settler organization in Nebi Samuel in the West Bank and a tour led by the Shomron Tourist and Study Center, based in the settlement of Sahvei Shomron in the occupied West Bank. In 2021, the bank offered over 30 free guided tours led by Eshkolot, including a tour in the occupied Syrian Golan.
Bus Lines in Settlements
In 2021, Bank Hapoalim signed a financing agreement in the amount of approximately NIS 490 million with Superbus bus company for the purpose of financing its winning of the "Jerusalem Urban Center" cluster. The cluster includes bus lines that reach settlements in occupied East Jerusalem and the West Bank, including the French Hill, Givat Hamivtar, Ramat Eshkol, Ma'ale Hazeitim, Ir David, Ramot, Givat HaMatos and Armon HaNatziv in occupied East Jerusalem, and Rachel's Tomb and Nabi Samuel in the occupied West Bank.
Ariel West Industrial Zone
Bank Hapoalim financed the development of the Ariel West Industrial Zone in the occupied West Bank.
In November 2023, the bank granted three Israeli construction companies loans for a construction project on 14.296 dunams (14,296 square meters) of lands belonging to the Palestinian towns of Marda, Salfit and Hares to be part of the Ariel West Industrial Zone. The project is part of City Plan No. 130/1/6 for registering lands belonging to the towns of Marda, Salfit, and Hares for the purpose of regulating a new plot for a synagogue and expanding the area of engineering facilities to allow cellular antennas placement for cellular companies. The bank granted the companies Estee Steel, Leo Properties, and Sheltam Building, two loans each for the project in the Industrial Zone.
Financing Settlement Construction Projects
Alfei Menashe
Between 2021 and 2026, the bank financed a construction project in the settlement of Alfei Menashe, on lands belonging to the Palestinian town of Azzun in the occupied West Bank. In August 2021, May 2022, and January 2026, the bank granted Israeli construction company Briza BaGivaa loans for a construction project on 8 plots of lands on an area 9.052 dunam belonging to the Palestinian town of Azzun in the occupied West Bank. The project is part of City Plans No. 115/8 and No. 115/8/1 for the design, construction, and development of a residential neighborhood in Alfei Menashe of 1,406 housing units across 469.482 dunams of lands belonging to the town of Azzun. The bank holds as collateral a first-degree permanent lien on all of the company's current and future rights in connection with the land and the real estate.
Givat HaMatos
Between 2021 and 2025, the bank financed the construction of 180 housing units in the settlement neighborhood of Givat HaMatos in occupied East Jerusalem. The construction project is part of Plan No. מק/14295 for construction and development on an area of 369.393 dunams in Givat HaMatos, which explicitly includes the consolidation and division of lands without the consent of their owners. In April 2021, March 2022, November 2024, and May 2025, the bank granted Israeli construction company Effi Capital Nadlan Ltd. loans for the construction project, for which the bank holds first-degree permanent liens on all the company's rights and income arising from the real estate.
Gilo
In March and August 2024, the bank granted Israeli construction company Hasid Brothers Building Contracting Co. two loans for the construction of 54 housing units in an area of 5.333 dunams in the settlement neighborhood of Gilo in occupied East Jerusalem. The project is part of City Plan No. 13157 for the development of a new residential complex of approximately 797 units in the west of the Gilo neighborhood. The bank holds as collateral a lien on the company's rights and current and its future assets arising from the real estate project.
Efrat
In September 2024, the bank granted the company a loan for a construction project of 62 housing units on 7.697 dunams on lands in the settlement of Efrat. The project is part of City Plan No. 410/5/66 for development in the Givat HaTamar neighborhood in the Efrat settlement on 123.324 dunam of lands belonging to the Palestinian town of al-Khader. The bank holds as collateral a first-degree permanent lien on all the company's rights, assets, funds, and property related to the land or project, including rights arising from agreements with apartment purchasers in the project.
In December 2023, the bank granted the company a loan for a construction project on 2.377 dunams of land belonging to the Palestinian village of Artas in the occupied West Bank as part of the expansion of the settlement of Efrat. The project is part of City Plan No. 410/5/52 for determining rights and construction instructions over 6.136 dunams of land belonging to the Palestinian village of Artas as part of development in the neighborhood of Givat HaDagan in the Efrat settlement. The bank holds as collateral a first-degree permanent lien on all the company's rights, assets, funds, and property related to the land or project, including rights arising from agreements with apartment purchasers in the project.
In 2022 and 2021, Bank Hapoalim granted Israeli construction company Ba'al Hatanie company a loan for a construction project of 32 housing units in the settlement of Efrat in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Talpiot East
In May 2023, the bank granted the company a loan in connection with its contract with Moriah Jerusalem Development Company for surfacing and development of sports fields in the settlement neighborhood of Talpiot East in occupied East Jerusalem. The bank holds as collateral a first-degree lien without a limit on the development contract.
Zufim
In May 2023, the bank granted Israeli construction company Shriki Group Enterprises & Construction a NIS 800 million loan for construction on two plots of land in total size of 15.978 dunams of land in the settlement of Zufim, on lands belonging to the Palestinian village of Jayyus. The bank granted the company a loan of up to NIS 400 million for each plot and holds as collateral all the company's rights in the land. The project is part of Plan 149/11/2 for the construction of residential and commercial areas and public buildings on the agricultural lands of Jayyus and the Palestinian town of Azzun.
Beitar Ilit
In March 2022, the bank granted Israeli construction company Boneich Construction Development & Investments a loan for a construction project across 3.773 dunams on lands in the settlement of Beitar Illit. The project is part of City Plan No. 426/3 for determining residential land zoning on Hill C in the settlement. The bank holds as collateral a first-degree permanent lien on all the company's rights related to the real estate, including under a lease agreement signed with the Commissioner of Abandoned and Government Property in the West Bank in the Civil Administration.
Between 2019 and 2022, the bank granted Bonim Nachon company several loans for a construction project in the settlement of Beitar Illit on lands belonging to the Palestinian villages of Wadi Fukin, Husan, and Nahalin in the occupied West Bank, in accordance with Plan No. 8\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2021, Bank Hapoalim granted A. Haver company a loan for its project in the settlement of Beitar Illit, on lands belonging to the Palestinian village of Husan in the occupied West Bank, in accordance with City Plan No. 10\3\1\1\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2021, Bank Hapoalim granted Ofer Aharon company a loan for its project in the settlement of Beitar Illit, on lands belonging to the Palestinian village of Husan in the occupied West Bank, in accordance with City Plan No. 10\3\1\1\426. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In May 2020, Bank Hapoalim granted the company Eli Yohanan a loan for a lot in Beitar Illit settlement, in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2019, Bank Hapoalim granted the company Mishkan Eliyahu a loan for the construction of 4-6 housing units in the settlement of Beitar Illit on lands belonging to the Palestinian Village of Husan, in accordance with City Plan No. 10/ב/426/7. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Givat Ze'ev
In 2021, Bank Hapoalim granted Israeli construction company Sasi a loan for the construction of 552 housing units in the settlement of Givat Ze'ev in the occupied West Bank, in accordance to Plan No. 9\220. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Ma'ale Adumim
In 2021, Bank Hapoliam granted Tsipiya Yazamut company a loan for the construction of 18 housing units in the settlement of Ma'ale Adumim, on the lands belonging to the Palestinian town of al-Aizariya in the occupied West Bank, according to City Plan No. 52\3\1\420. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
In 2020, the bank granted the company Mishkan Eliyahu a loan for the construction of 104 housing units in the settlement of Ma'ale Adumim on lands belonging to the Palestinian village of al-Azariyah in the occupied West Bank, in accordance with Plan No. 42\4\1\420. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Har Homa
In 2021 and 2020, Bank Hapoalim granted Israeli company Ofer Aharon a mortgage for the construction of 125 housing units in Har Homa settlement neighborhood in occupied East Jerusalem, according to City Plan No. 10310.
Beit Aryeh
In 2020, Bank Hapoalim granted the Mateh Binyamin Development Company a loan for the construction of 372 housing units in the settlement of Beit Aryeh in the occupied West Bank, in accordance with Plan No. 2\2\202. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Karnei Shomron
In 2020, Bank Hapoalim granted Mivneh company a loan for a construction project in the settlement of Karnei Shomron on lands belonging to the Palestinian village of Deir Istiya in the occupied West Bank, in accordance with Plan No. 117\8. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Kiryat Arba Industrial Zone
Also in 2020, Bank Hapoalim provided Mivneh with a NIS 3,500,000 loan for a 12,000-meter plot in the Kiryat Arba Industrial Zone in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Modi’in Ilit
In June 2019, the bank granted Israeli construction company Dona Engineering and Construction a loan for a construction project of 156 housing units on 6 plots of land in the settlement of Modiin Ilit across 29.412 dunam of lands belonging to the Palestinian town of Deir Qaddis in the occupied West Bank. The project is part of City Plan No. 210/6/3 for residential and commercial areas in the new neighborhood on lands of Deir Qaddis. The bank holds as collateral a first-degree permanent lien on all the company's rights of any kind related to the real estate, including under a lease agreement signed with the Commissioner of Abandoned and Government Property in the West Bank in the Civil Administration.
Ma'ale Efraim
In 2019 and 2021, Bank Hapoalim granted YSD Meitav company a loan for the construction of 44 housing units in the settlement of Ma'ale Efraim in the occupied West Bank, in accordance with Plan No. 1\13\310. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers.
Kfar Adumim
In June 2019, the bank granted Israeli settlement-based construction company Zalman Barashi & Bros Co. a loan for the "Giv'at HaYeshiva" neighborhood development project for the construction and development of a neighborhood complex on approximately 404 dunams in the settlement of Kfar Adumim. The bank holds as collateral a first-degree permanent lien on all the company's rights of any kind related to the planned project and the property.
In 2019, Bank Hapoalim granted the company Zalman Barashi a loan for the construction of 300 housing units in the settlement of Kfar Adumim. The bank holds as collateral the company’s contractual and actual rights in the land and project.
Previously, the bank financed additional construction projects in the settlements of Beitar Illit, Ma'ale Adumim and Efrat in the occupied West Bank, and Har Homa, and Pisgat Ze'ev in occupied East Jerusalem. For more, see Who Profits’ 2017 report Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Financing Settlement-Based Construction Companies
In July 2025, March 2025, December 2024, and May 2024, the bank granted settlement-based construction company Ofek Engineering (Aba) Ltd. loans for which the bank holds as collateral a first-degree permanent lien in an unlimited amount on company vehicles. The company is based in the settlement of Tzufim in the West Bank and mainly engages in construction in settlements in the occupied West Bank.
In August 2023, the bank granted Israeli real estate development company Harey Zahav Ltd. a loan for which the bank holds as collateral a first-degree lien on all of the company’s rights in financial deposits in the amount of NIS 110,000 held in its account at the bank. The company is based in the settlement of Alei Zahav in the occupied West Bank and has development projects in dozens of settlements in the West Bank.
Mortgages for Settlement Properties
In December 2021, as part of a class action lawsuit against the bank for alleged discrimination in providing mortgages, the bank showed that it had granted hundreds of housing loans to customers living in settlements in the occupied West Bank.
Banking Services to Settlement Local and Regional Councils
Bank Hapoalim provides loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
Bank Hapoalim provide loans, credit facilities and various banking services for over 150 settlements in the occupied West Bank and the Syrian Golan. These include the Gush Etzion Regional Council (consisting of 24 settlements), the Har Hevron Regional Council (consisting of 23 settlements in the South Hebron Hills area), the Jordan Valley Regional Council (consisting of 21 settlements in the Jordan Valley area), the Mateh Binyamin Regional Council (consisting of 52 settlements), the Megilot Dead Sea Regional Council (consisting of 8 settlements in the northern Dead Sea area), and the settlements of Beit El, Beitar Ilit, Efrat, Elkana, Emanuel, Givat Ze'ev, Har Adar, Karnei Shomron, Kdumim, and Ma'ale Adumim in the occupied West Bank. In addition, the bank has provided such services to the Golan Regional Council, consisting of 33 settlements in the occupied Syrian Golan.
Gush Etzion Regional Council
As of April 2026, Hapolaim Bank had 2 active pledge agreements with the Gush Etzion Regional Council.
In September 2024, Bank Hapoalim signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2123). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In September 2018, Bank Hapoalim signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2117). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Har Hevron Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Har Hevron Regional Council.
In April 2023, Bank Hapoalim signed a pledge agreement with the Har Hevron Regional Council for a period of 15 years (ends 2038) for which the company holds as collateral all council’s current and future revenue as collateral.
According to the Regional Council’s meeting protocols, in August 2022, the council approved a NIS 8 million loan from the bank and decided to open an account at the bank.
Jordan Valley Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Jordan Valley Regional Council. The Jordan Valley Regional Council (also known as Bik'at HaYarden Regional Council) consists of 21 settlements in the Jordan Valley area in the occupied West Bank.
In February 2022, Hapolaim Bank signed a pledge agreement with the Jordan Valley Regional Council for a period of 99 years (ends 2121) against all the council's revenues, including property tax and financial levies, with the exception of funds originating water and sewage.
Mateh Binyamin Regional Council
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Mateh Binyamin Regional Council. The Mateh Binyamin Regional Council consists of 52 settlements in the central occupied West Bank.
Megilot Dead Sea Regional Council
As of April 2026, Hapolaim Bank had 2 active pledge agreements with the Megilot Dead Sea Regional Council. The Megilot Dead Sea Regional Council consists of 8 settlements in the northern Dead Sea area in the occupied West Bank.
In August 2025, Bank Hapoalim signed a pledge agreement with the Megilot Regional Council for a period of one year (ends 2026). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In October 2021, Bank Hapoalim signed a pledge agreement with the Megilot Regional Council for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget.
According to the Regional Council’s meeting protocols from November 2024, the bank operates the council's school bank account.
Beit El
As of April 2026, Bank Hapoalim had 3 active pledge agreements with the Beit El Local Council in the occupied West Bank.
In December 2024, Bank Hapoalim signed a pledge agreement with the Beit El Local Council for a period of 99 years (ends 2123). The bank holds a first-degree lien on the council’s rights to all current and future revenues, excluding funds originating from the state budget and from water and sewage.
Beitar Ilit
As of April 2026, Hapolaim Bank had 1 active pledge agreement with the Beitar Ilit Municipality in the occupied West Bank.
In December 2021, Bank Hapoalim signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Municipality’s meeting protocols, in June 2022, the Municipality’s Finance Committee approved a NIS 3 million loan from the bank for financing the replacement of street lighting in the settlement.
Efrat
As of April 2026, Bank Hapoalim had 8 active pledge agreements with the Efrat Local Council in the occupied West Bank.
In January 2024, Bank Hapoalim signed a pledge agreement with the Efrat Local Council for a period of 99 years (ends 2123). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Elkana
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Elkana Local Council in the occupied West Bank.
In July 2021, Bank Hapoalim signed a pledge agreement with the Elkana Local Council for a period of 99 years (ends 2120). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Local Council’s meeting protocols from June 2025, the bank operates 2 bank accounts for a school in the council's jurisdiction, one for council funds and the other for school parents' funds.
In January 2023, the Elkana municipality general assembly approved the pledge of the council’s revenue for a NIS 450,000 loan from the bank.
Emanuel
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Emanuel Local Council in the occupied West Bank.
In May 1999, Bank Hapoalim signed a pledge agreement with the Emanuel Local Council for a period of 99 years (ends 2098). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget.
According to the Local Council’s meeting protocols, in November 2023, the Emanuel Local Council general assembly approved the pledge of the council’s revenue as collateral for a NIS 250,000 loan from the bank for the year 2024.
Givat Zeev
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank.
In October 1994, Hapoalim Americai Israeli Ltd. (which was merged into Bank Hapoalim in 1998) signed a pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank for a period of 99 years, holding the council’s revenue as collateral.
Har Adar
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Har Adar Local Council in the occupied West Bank.
In December 2019, Bank Hapoalim signed a pledge agreement with the Har Adar Local Council in the occupied West Bank for a period of 99 years against all council’s properties and assets as collateral.
Karnei Shomron
As of April 2026, Bank Hapoalim had 1 active pledge agreement with the Karnei Shomron Local Council in the occupied West Bank.
In April 2019, Bank Hapoalim signed a pledge agreement with the Karnei Shomron Local Council for a period of 99 years (ends 2118). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Kdumim
As of April 2026, Bank Hapoalim had 4 active pledge agreements with the Kdumim Local Council in the occupied West Bank.
In March 2018, Bank Hapoalim signed a pledge agreement with the Kdumim Local Council for a period of 99 years (ends 2117). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Ma'ale Adumim
As of April 2026, Bank Hapoalim had 9 active pledge agreements with the Ma’ale Adumim Municipality in the occupied West Bank.
In November 2024, Bank Hapoalim signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 15 years (ends 2040). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
Golan Regional Council
As of April 2026, Bank Hapoalim had 5 active pledge agreements with the Golan Regional Council. The Golan Regional Council consists of 33 settlements in the occupied Syrian Golan.
In January 2026, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of one year (ends 2027). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In February 2024, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of 12 years (ends 2036). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
In May 2021, Bank Hapoalim signed a pledge agreement with the Golan Regional Council for a period of 11 years (ends 2032). The bank holds the council’s rights to all its current and future revenues as collateral, excluding funds originating from the state budget and from water and sewage.
According to the Regional Council’s meeting protocols, in 2025, Bank Hapoalim provided the council with a NIS 3 million credit facility. In December 2025, the council approved a NIS 3 million current loan account credit facility with Bank Hapoalim for 2026. According to the meeting protocols from December 2024, the bank provided the council with services including operating a bank account, deposits, foreign currency, securities, loans and credit facilities, and bank guarantees.
Branches in Settlements
Bank Hapoalim operates branches providing banking services in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
The bank operates 2 branches in the settlement of Ariel, and branches in the settlements of Beitar Ilit and Ma’ale Adumim in the occupied West Bank; branches in settlement neighborhoods of Ramot, Ramot Eshkol, Pisgat Ze’ev and the French Hill in occupied East Jerusalem; and a branch in the settlement of Bnei Yehuda in the Syrian Golan. In addition, the bank operates additional Automated Teller Machines (ATMs) and self-service banking machines in the settlement neighborhoods of Pisgat Ze’ev, Gilo, Neve Yaakov and Talpiot East (Armon HaNatziv) in occupied East Jerusalem.
Palestinian Captive Market
Bank Hapoalim benefits from access to the Palestinian banking market as a captive market.
Bank Hapoalim provides banking correspondence services to banks operating in the Palestinian Authority that are dependent on the Israeli banking system. Under the Paris Protocol, the Palestinian economy is subject to the Israeli currency and the Palestinian banking market's financial dealings with the rest of the world must go through the Israeli banking system. Palestinian banks are dependent on Israeli banks, which serve as correspondent banks, for fund transfers and clearing services, for which the bank requires deposit exorbitant cash collaterals and charges high commissions, and imposes restrictions on the transfer of money.
In addition, the bank operates a branch in Salah al-Deen Street in occupied East Jerusalem.
Financing Military Projects
In 2022, Bank Hapoalim financed the establishment of the Israeli Ministry of Defense’s "Ofek Rahav" military camp, carried out by Shikun & Binui Group and Malam Team companies. According to an agreement from 2022, Bank Hapoalim provided Shikun & Binui Group with short and long term loans in the total amount of NIS 1.3 billion.
In 2012, Bank Hapoalim lent the Ministry of Defense 200 million euros to finance the purchase of 30 training and instructional planes in the amount of 1 billion euros.
Financial Support for the Israeli Military
Bank Hapoalim funds a program that provides grants, placements, and training, including NIS 12 million in scholarships for military and security forces personnel injured in service since October 2023 during the genocide in Gaza.
Ownership
The company is publicly traded on the Tel Aviv Stock Exchange under the ticker symbol: POLI
Major shareholders include: Phoenix Financial Ltd. (7.34%), Harel Insurance Investment & Financial Services Ltd. (6.55%), Menorah Mivtachim Holdings Ltd. (5.87%).
Chair of the Board of Directors: Noam Hanegbi
CEO: Yadin Antebi
Subsidiaries
Opza Ltd., Poalim Equity Ltd., Peilim Portfolio Management Ltd., Peelim Management & Consulting Services Ltd., Revadim (Properties) Ltd., Sure-Ha International Ltd. (USA)
Partners
* This section refers to the company's general business partners
Company Response
Settlements
Ma'ale Hazeitim | Alfei Menashe | Ariel | Armon Hanatziv | Beit Aryeh (Ofarim) | Beit El | Beitar Illit | Bnei Yehuda | Efrat | Elkana | Emanuel (Immanuel) | French Hill | Gilo | Givat Ha-Matos | Givat HaMivtar | Givat Ze’ev | Gush Etzion | Har Adar | Har Hevron | Ir David | Karnei Shomron | Kdumim | Kfar Adumim | Kiryat Arba | Ma'ale Adumim | Ma'ale Efraim | Mateh Binyamin | Megilot | Modi'in Illit | Neve Ya'akov | Pisgat Ze'ev | Ramat Eshkol | Ramot | Tzufim (Tzufin)