Hapoalim Bank
Full Text
בנק הפועלים
Head office: Rothschild Blvd 50, Tel Aviv 6688314, Israel. Tel.: +972-3-5673800
One of the largest commercial banks in Israel.
Bank Hapoalim B.M. Group provides a variety of banking and financial services through its Division, the Retail Banking Division, and the Financial Markets and International Banking Division.
Hapoalim Bank provides financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Hapoalim provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
In March and August 2024, Hapoalim Bank granted Hasid Brothers Building Contracting Co. two loans for the construction of 54 housing units in an area of about 5,333 square meters in the Gilo settlement neighborhood in occupied East Jerusalem, in accordance with Plan no. 13157 for the development of a new residential complex of approximately 797 housing units in the neighborhood. The bank holds as collateral all the company’s assets and rights of any kind with the real estate.
In December 2023, the bank granted Boneich Construction Development & Investment Ltd. a loan for the construction of a residential project in the settlement of Efrat on lands belonging to the Palestinian village of Artas, according to Plan no. 410/5/52. The bank holds as collateral all the company’s rights in the property.
In November 2023, Bank Hapoalim granted five loans to three construction companies for a development project of 14 plots in a total size of about 14,296 square meters in the Ariel West industrial zone according to Plan no. 130/ת/1/6, on lands belonging to the Palestinian town of Salafit. The bank granted two loans to Leo Properties A.B.D. company, two loans to Sheltam Building, and one loan to Esti Pladot against the companies' rights in the project. The bank holds as collateral all the companies' rights in the property.
In May 2023, the bank granted Shriki Group Enterprises & Construction Ltd. a NIS 800 million loan for construction on two plots of land in total size of 15,978 square meters 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 commerce areas and public buildings on the agricultural lands of Jayyus and the Palestinian town of Azzun.
In May 2022 and in August 2021, the bank granted Briza Bagivaa company loans for the construction of housing units on 9 plots in the total size of 9,191 square meters in the settlement of Alfei Menashe on lands belonging to the Palestinian town of Azzun. The project is part of Plan no. 115/8 and 115/8/1 for the change of land designation from agricultural to residential and the design and construction of 1,406 housing units in Givat Tal neighborhood on the lands of Azun. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In March 2022 and September 2016, the bank granted Boneich Construction Development & Investment two loans for the construction of a residential project on 3,773 square meters of land in the settlement of Beitar Ilit according to Plan no. 426/3. The bank holds as collateral all the company’s existing and future rights in the property and all the company’s rights in respect of a lease agreement signed between the company and the Israeli Civil Administration in the West Bank.
In 2022 and 2021, Bank Hapoalim granted Ba'al Hatanie company a loan for its 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2021, Bank Hapoalim granted Sasi company a loan for the construction of 552 housing units in the settlement of Givat Ze'ev in the occupied West Bank, according 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoliam granted Tsipiya Yazamut company a loan for the construction of 18 housing units in Ma'ale Adumim, according to plan no. 52\3\1\420 (on the lands of al-Izariya). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim granted Effi Capital company a loan for the construction of 180 housing units in Givat Hamatos, located in occupied East Jerusalem, according to plan מק\19245- Guidelines for Unification and Division without Owners` Consent in Givat HaMatos. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim granted A. Haver company a loan for its project in Beitar Illit, after the company won tender יש\2021\10 with the Israel Land Authority, according to plan 10\3\1\1\426 (on the lands of the village of Husan). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim garnted Ofer Aharon company a loan for a construction project in Beitar Illit, based on the tender יש\10\2021, according to plan no. 10\3\1\1\426 (on the lands of Husan village). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021 and 2020, Bank Hapoliam granted Ofer Aharon a mortgage for a construction 125 housing units in Har Homa settlement neighborhood in ouccpied Est Jerusalem, according to plan 10310.
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 2020, the bank granted the company Mishkan Eliyahu a loan for the construction of 104 housing units in the settlement of Ma'ale Adumim settlement in the occupied West Bank, according to plan no. 42\4\1\420 for construction in Ma'ale Adumim, specifically on the lands of al-Izariya village. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's entire assets in the time the specific property was held as collateral.
In 2020, Bank Hapoalim granted the Company for the development of Mateh Binyamin a loan for the construction of 372 housing units in the settlement of Beit Aryeh in the occupied West Bank, according to 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2020, Bank Hapoliam granted the company Mivneh a loan for a consturction project in Karnei Shomron settlement in the occupied West Bank, according to plan no. 117\8 (on the lands of the Palestinian village of Deir Estya). The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2020, Bank Hapoliam provided the company Mivneh with a 3,500,000 NIS loan for a 12,000 meter plot in 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.
In 2019, the bank granted Dona Engineering & Building Co. a loan for a development project of residential, industrial and commercial areas on about 29,412 square meters in the settlement of Modi’in Ilit according to Plan no. 210/6/3, on lands belonging to the Palestinian town Deir Qaddis.
In 2019 and 2021, Bank Hapoalim granted YSD Meitav company a loan for the construction of 44 housing units in Ma'ale Efraim settlement in the occupied West Bank, according to 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2019, Bank Hapoalim granted the company Mishkan Eliyahu a loan for its project in the settlement of Beitar Illit. The company won the tender in 2018 for the construction of 4-6 housing units in the settlement, according to plan no. 10\ב\7\426 (Changes in Land Designation in Beitar Illit on the Land of the Village of Husan). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2019, Bank Hapoalim granted the company Zalman Barashi a loan for its project of expanding the Kfar Adumim settlement in the occupied West Bank with 300 additional housing units. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2019, Bank Hapoalim granted a loan for the company Bonim Nachon for a construction project in Beitar Illit, according to plan no. 8\426 (on the lands of Wadi Fukin, Husan, Nahalin). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. In 2020, 2021 and 2022, Bank Hapoliam granted the company a loan for construction projects in Beitar Illit, according to the same plan.
In 2017, Who Profits documented the vast involvement of the bank in settlement construction. The report showed that the bank accompanied construction projects in the settlements of Beitar Illit, Ma'aleh Adumim and Efrat in the occupied West Bank, and Har Homa, and Pisgat Ze'ev in occupied East Jerusalem. For the full report see Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Financing Settlement Development Projects
Wind Farms in the occupied Syrian Golan
Hapoalim Bank led the financing of the construction of the Ruach Beresheet and Emek Habacha wind farms in the occupied Syrian Golan with more than NIS 1 billion for Enlight Renewable Energy. These large-scale commercial projects are contingent on the exploitation of occupied land and natural resources in partnership with the area’s settlements for the benefit of Israeli households and industry on both sides of the Green Line.
Tours in Settlements
Hapoalim Bank 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.
The Jerusalem Light Rail
In March 2022, Hapoalim Bank granted Bardarian Brothers company a loan, holding as collateral the company’s contractual rights in accordance with the company’s contract to carry out infrastructure works in preparation for the laying of the railway tracks in the Gilo settlement neighborhood in occupied East Jerusalem.
In 2020, Hapoalim Bank led the consortium to finance the expansion of the Red Line and the establishment of the Green Line of the Jerusalem Light Rail (JLR) as part of the J-Net Project. The consortium awarded the JLR’s operators CAF and Shapir Engineering and Industry with 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.
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.
In 2006, Hapoalim 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 Leumi Bank.
Superbus
In 2021, Hapoalim Bank 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.
Banking Services to Settlement Local and Regional Councils
Hapoalim Bank 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.
Hapoalim Bank has provided loans and various banking services for the Oranit Municipality, Emanuel Local Council, Megilot Dead Sea Regional Council, Elkana Municipality, Har Hevron Regional Council, Beitar Ilit Municipality, Efrata Local Council, Kedumim Local Council, Har Hevron Regional Council, Har Adar Local Council, Mateh Binyamin Regional Council, Jordan Valley Regional Council, Givat Ze’ev Local Council, Gush Etzion Regional Council and Ma'ale Adumim Municipality in the occupied West Bank, as well as to the Golan Regional Council in the occupied Syrian Golan.
As of July 2024, the bank has at least 27 pledge agreements with local and regional councils and municipalities of Israeli settlements in the occupied West Bank and the Syrian Golan. In the vast majority of cases, the bank holds the council’s revenue and assets as collateral for these loans.
Efrat
As of July 2024, the bank has a total of 8 active pledge agreements with the Efrata Local Council in the occupied West Bank. In January 2024, Hapoalim Bank signed a pledge agreement with the Efrata Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Oranit
As of July 2024, the bank has 2 active pledge afreements with Oranit Local Council in the occupied West Bank.
As of March 2024, the Oranit municipality maintains a bank account in Hapoalim Bank.
In June and May 2013, Hapoalim Bank signed pledge agreements with the Oranit settlement Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Kedumim
As of July 2024, the bank has 4 active pledges with the Kedumim Local Council in the occupied West Bank. In March 2018, Hapoalim Bank signed a pledge agreement with the Kedumim Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Emanuel
On 21 November 2023, the Emanuel Local Council general assembly approved the pledge of the council’s revenue as collateral for a NIS 250,000 loan for 2024 from the bank.
Megilot Dead Sea
On 3 August 2023, the Megilot Dead Sea Regional Council general assembly approved a NIS 1,865,148 loan from the bank for the financing of development and infrastructure works. The Megilot Dead Sea Regional Council provides services to 8 settlements in the northern Dead Sea area in the occupied West Bank.
In October 2021, Hapoalim Bank signed a pledge agreement with the Megilot Dead Sea Regional Council for a period of 99 years against all council’s current and future revenue as collateral.
Har Hevron
In April 2023, Hapoalim Bank signed a pledge agreement with the Har Hevron Regional Council for a period of 15 years against all council’s current and future revenue as collateral. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
On 2 August 2022, the Har Hevron Regional Council general assembly approved a NIS 8 million loan from the bank and decided to open an account at the bank.
Elkana
On 1 January 2023, the Elkana municipality general assembly approved the pledge of the council’s revenue for a NIS 450,000 loan from the bank.
In July 2021, Hapoalim Bank signed a pledge agreement with the Elkana Local Council in the occupied West Bank for a period of 99 years against all council’s current and future revenue as collateral.
Beitar Ilit
On 14 June 2022, the Beitar Ilit municipality Finance Committee approved a NIS 3 million loan from the bank for financing the replacement of street lighting.
In December 2021, Hapoalim Bank signed a pledge agreement with the Beitar Ilit municipality in the occupied West Bank for a period of 99 years against the council’s current and future revenue as collateral.
Jordan Valley Regional Council
The Jordan Valley (also named Arvot HaYarden) Regional Council provides services to 21 settlements 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.
Har Adar
In December 2019, Hapoalim Bank 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.
Emanuel
In January 2018, Hapoalim Bank signed a pledge agreement with the Emanuel Local Council in the occupied West Bank for a period of 99 years against the council’s revenue as collateral.
Mateh Binyamin
In January 2015, Hapoalim Bank signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years against the council’s revenue as collateral. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
Givat Ze’ev
In October 1994, Hapoalim Americai Israeli Ltd. (which was merged into Hapoalim Bank in 1998) signed a pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank for a period of 99 years against the council’s revenue as collateral.
Golan Regional Council
As of July 2024, the bank has 5 active pledge agreements with the Golan Regional Council, which includes 33 settlements in the occupied Syrian Golan.
In February 2024, Hapoalim Bank signed a pledge agreement with the Golan Regioanl Council for a period of 12 years against all council’s current and future revenue as collateral.
In January 2024, Hapoalim Bank signed a pledge agreement with the Golan Regioanl Council for a period of one year against all council’s revenue as collateral.
Branches in Settlements
Bank Hapoalim operates branches and automated banking services machines in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
These include the settlements of Beitar Ilit, Ariel and Ma’ale Adumim in the occupied West Bank; the settlement neighborhoods of Ramot, Pisgat Ze’ev, Gilo, Armon Hanatziv, Ramot Eshkol, Neve Yaakov and the French Hill in occupied East Jerusalem; and the settlement of Bnei Yehuda in the Syrian Golan.
Financing Military Projects
In 2022, Hapoalim Bank 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.
Palestinian Captive Market
Hapoalim Bank benefits from access to the Palestinian banking market as a captive market.
Under the Paris Protocol, the Palestinian economy is subjected 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 have to rely 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.
The bank also operates a branch in Salah al-Deen Street in East Jerusalem.
One of the largest commercial banks in Israel.
Bank Hapoalim B.M. Group provides a variety of banking and financial services through its Division, the Retail Banking Division, and the Financial Markets and International Banking Division.
Hapoalim Bank provides financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Hapoalim provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
In March and August 2024, Hapoalim Bank granted Hasid Brothers Building Contracting Co. two loans for the construction of 54 housing units in an area of about 5,333 square meters in the Gilo settlement neighborhood in occupied East Jerusalem, in accordance with Plan no. 13157 for the development of a new residential complex of approximately 797 housing units in the neighborhood. The bank holds as collateral all the company’s assets and rights of any kind with the real estate.
In December 2023, the bank granted Boneich Construction Development & Investment Ltd. a loan for the construction of a residential project in the settlement of Efrat on lands belonging to the Palestinian village of Artas, according to Plan no. 410/5/52. The bank holds as collateral all the company’s rights in the property.
In November 2023, Bank Hapoalim granted five loans to three construction companies for a development project of 14 plots in a total size of about 14,296 square meters in the Ariel West industrial zone according to Plan no. 130/ת/1/6, on lands belonging to the Palestinian town of Salafit. The bank granted two loans to Leo Properties A.B.D. company, two loans to Sheltam Building, and one loan to Esti Pladot against the companies' rights in the project. The bank holds as collateral all the companies' rights in the property.
In May 2023, the bank granted Shriki Group Enterprises & Construction Ltd. a NIS 800 million loan for construction on two plots of land in total size of 15,978 square meters 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 commerce areas and public buildings on the agricultural lands of Jayyus and the Palestinian town of Azzun.
In May 2022 and in August 2021, the bank granted Briza Bagivaa company loans for the construction of housing units on 9 plots in the total size of 9,191 square meters in the settlement of Alfei Menashe on lands belonging to the Palestinian town of Azzun. The project is part of Plan no. 115/8 and 115/8/1 for the change of land designation from agricultural to residential and the design and construction of 1,406 housing units in Givat Tal neighborhood on the lands of Azun. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In March 2022 and September 2016, the bank granted Boneich Construction Development & Investment two loans for the construction of a residential project on 3,773 square meters of land in the settlement of Beitar Ilit according to Plan no. 426/3. The bank holds as collateral all the company’s existing and future rights in the property and all the company’s rights in respect of a lease agreement signed between the company and the Israeli Civil Administration in the West Bank.
In 2022 and 2021, Bank Hapoalim granted Ba'al Hatanie company a loan for its 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2021, Bank Hapoalim granted Sasi company a loan for the construction of 552 housing units in the settlement of Givat Ze'ev in the occupied West Bank, according 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoliam granted Tsipiya Yazamut company a loan for the construction of 18 housing units in Ma'ale Adumim, according to plan no. 52\3\1\420 (on the lands of al-Izariya). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim granted Effi Capital company a loan for the construction of 180 housing units in Givat Hamatos, located in occupied East Jerusalem, according to plan מק\19245- Guidelines for Unification and Division without Owners` Consent in Givat HaMatos. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim granted A. Haver company a loan for its project in Beitar Illit, after the company won tender יש\2021\10 with the Israel Land Authority, according to plan 10\3\1\1\426 (on the lands of the village of Husan). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim garnted Ofer Aharon company a loan for a construction project in Beitar Illit, based on the tender יש\10\2021, according to plan no. 10\3\1\1\426 (on the lands of Husan village). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021 and 2020, Bank Hapoliam granted Ofer Aharon a mortgage for a construction 125 housing units in Har Homa settlement neighborhood in ouccpied Est Jerusalem, according to plan 10310.
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 2020, the bank granted the company Mishkan Eliyahu a loan for the construction of 104 housing units in the settlement of Ma'ale Adumim settlement in the occupied West Bank, according to plan no. 42\4\1\420 for construction in Ma'ale Adumim, specifically on the lands of al-Izariya village. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's entire assets in the time the specific property was held as collateral.
In 2020, Bank Hapoalim granted the Company for the development of Mateh Binyamin a loan for the construction of 372 housing units in the settlement of Beit Aryeh in the occupied West Bank, according to 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2020, Bank Hapoliam granted the company Mivneh a loan for a consturction project in Karnei Shomron settlement in the occupied West Bank, according to plan no. 117\8 (on the lands of the Palestinian village of Deir Estya). The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2020, Bank Hapoliam provided the company Mivneh with a 3,500,000 NIS loan for a 12,000 meter plot in 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.
In 2019, the bank granted Dona Engineering & Building Co. a loan for a development project of residential, industrial and commercial areas on about 29,412 square meters in the settlement of Modi’in Ilit according to Plan no. 210/6/3, on lands belonging to the Palestinian town Deir Qaddis.
In 2019 and 2021, Bank Hapoalim granted YSD Meitav company a loan for the construction of 44 housing units in Ma'ale Efraim settlement in the occupied West Bank, according to 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2019, Bank Hapoalim granted the company Mishkan Eliyahu a loan for its project in the settlement of Beitar Illit. The company won the tender in 2018 for the construction of 4-6 housing units in the settlement, according to plan no. 10\ב\7\426 (Changes in Land Designation in Beitar Illit on the Land of the Village of Husan). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2019, Bank Hapoalim granted the company Zalman Barashi a loan for its project of expanding the Kfar Adumim settlement in the occupied West Bank with 300 additional housing units. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2019, Bank Hapoalim granted a loan for the company Bonim Nachon for a construction project in Beitar Illit, according to plan no. 8\426 (on the lands of Wadi Fukin, Husan, Nahalin). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. In 2020, 2021 and 2022, Bank Hapoliam granted the company a loan for construction projects in Beitar Illit, according to the same plan.
In 2017, Who Profits documented the vast involvement of the bank in settlement construction. The report showed that the bank accompanied construction projects in the settlements of Beitar Illit, Ma'aleh Adumim and Efrat in the occupied West Bank, and Har Homa, and Pisgat Ze'ev in occupied East Jerusalem. For the full report see Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Financing Settlement Development Projects
Wind Farms in the occupied Syrian Golan
Hapoalim Bank led the financing of the construction of the Ruach Beresheet and Emek Habacha wind farms in the occupied Syrian Golan with more than NIS 1 billion for Enlight Renewable Energy. These large-scale commercial projects are contingent on the exploitation of occupied land and natural resources in partnership with the area’s settlements for the benefit of Israeli households and industry on both sides of the Green Line.
Tours in Settlements
Hapoalim Bank 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.
The Jerusalem Light Rail
In March 2022, Hapoalim Bank granted Bardarian Brothers company a loan, holding as collateral the company’s contractual rights in accordance with the company’s contract to carry out infrastructure works in preparation for the laying of the railway tracks in the Gilo settlement neighborhood in occupied East Jerusalem.
In 2020, Hapoalim Bank led the consortium to finance the expansion of the Red Line and the establishment of the Green Line of the Jerusalem Light Rail (JLR) as part of the J-Net Project. The consortium awarded the JLR’s operators CAF and Shapir Engineering and Industry with 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.
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.
In 2006, Hapoalim 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 Leumi Bank.
Superbus
In 2021, Hapoalim Bank 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.
Banking Services to Settlement Local and Regional Councils
Hapoalim Bank 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.
Hapoalim Bank has provided loans and various banking services for the Oranit Municipality, Emanuel Local Council, Megilot Dead Sea Regional Council, Elkana Municipality, Har Hevron Regional Council, Beitar Ilit Municipality, Efrata Local Council, Kedumim Local Council, Har Hevron Regional Council, Har Adar Local Council, Mateh Binyamin Regional Council, Jordan Valley Regional Council, Givat Ze’ev Local Council, Gush Etzion Regional Council and Ma'ale Adumim Municipality in the occupied West Bank, as well as to the Golan Regional Council in the occupied Syrian Golan.
As of July 2024, the bank has at least 27 pledge agreements with local and regional councils and municipalities of Israeli settlements in the occupied West Bank and the Syrian Golan. In the vast majority of cases, the bank holds the council’s revenue and assets as collateral for these loans.
Efrat
As of July 2024, the bank has a total of 8 active pledge agreements with the Efrata Local Council in the occupied West Bank. In January 2024, Hapoalim Bank signed a pledge agreement with the Efrata Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Oranit
As of July 2024, the bank has 2 active pledge afreements with Oranit Local Council in the occupied West Bank.
As of March 2024, the Oranit municipality maintains a bank account in Hapoalim Bank.
In June and May 2013, Hapoalim Bank signed pledge agreements with the Oranit settlement Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Kedumim
As of July 2024, the bank has 4 active pledges with the Kedumim Local Council in the occupied West Bank. In March 2018, Hapoalim Bank signed a pledge agreement with the Kedumim Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Emanuel
On 21 November 2023, the Emanuel Local Council general assembly approved the pledge of the council’s revenue as collateral for a NIS 250,000 loan for 2024 from the bank.
Megilot Dead Sea
On 3 August 2023, the Megilot Dead Sea Regional Council general assembly approved a NIS 1,865,148 loan from the bank for the financing of development and infrastructure works. The Megilot Dead Sea Regional Council provides services to 8 settlements in the northern Dead Sea area in the occupied West Bank.
In October 2021, Hapoalim Bank signed a pledge agreement with the Megilot Dead Sea Regional Council for a period of 99 years against all council’s current and future revenue as collateral.
Har Hevron
In April 2023, Hapoalim Bank signed a pledge agreement with the Har Hevron Regional Council for a period of 15 years against all council’s current and future revenue as collateral. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
On 2 August 2022, the Har Hevron Regional Council general assembly approved a NIS 8 million loan from the bank and decided to open an account at the bank.
Elkana
On 1 January 2023, the Elkana municipality general assembly approved the pledge of the council’s revenue for a NIS 450,000 loan from the bank.
In July 2021, Hapoalim Bank signed a pledge agreement with the Elkana Local Council in the occupied West Bank for a period of 99 years against all council’s current and future revenue as collateral.
Beitar Ilit
On 14 June 2022, the Beitar Ilit municipality Finance Committee approved a NIS 3 million loan from the bank for financing the replacement of street lighting.
In December 2021, Hapoalim Bank signed a pledge agreement with the Beitar Ilit municipality in the occupied West Bank for a period of 99 years against the council’s current and future revenue as collateral.
Jordan Valley Regional Council
The Jordan Valley (also named Arvot HaYarden) Regional Council provides services to 21 settlements 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.
Har Adar
In December 2019, Hapoalim Bank 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.
Emanuel
In January 2018, Hapoalim Bank signed a pledge agreement with the Emanuel Local Council in the occupied West Bank for a period of 99 years against the council’s revenue as collateral.
Mateh Binyamin
In January 2015, Hapoalim Bank signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years against the council’s revenue as collateral. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
Givat Ze’ev
In October 1994, Hapoalim Americai Israeli Ltd. (which was merged into Hapoalim Bank in 1998) signed a pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank for a period of 99 years against the council’s revenue as collateral.
Golan Regional Council
As of July 2024, the bank has 5 active pledge agreements with the Golan Regional Council, which includes 33 settlements in the occupied Syrian Golan.
In February 2024, Hapoalim Bank signed a pledge agreement with the Golan Regioanl Council for a period of 12 years against all council’s current and future revenue as collateral.
In January 2024, Hapoalim Bank signed a pledge agreement with the Golan Regioanl Council for a period of one year against all council’s revenue as collateral.
Branches in Settlements
Bank Hapoalim operates branches and automated banking services machines in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
These include the settlements of Beitar Ilit, Ariel and Ma’ale Adumim in the occupied West Bank; the settlement neighborhoods of Ramot, Pisgat Ze’ev, Gilo, Armon Hanatziv, Ramot Eshkol, Neve Yaakov and the French Hill in occupied East Jerusalem; and the settlement of Bnei Yehuda in the Syrian Golan.
Financing Military Projects
In 2022, Hapoalim Bank 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.
Palestinian Captive Market
Hapoalim Bank benefits from access to the Palestinian banking market as a captive market.
Under the Paris Protocol, the Palestinian economy is subjected 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 have to rely 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.
The bank also operates a branch in Salah al-Deen Street in East Jerusalem.
Be a part of our community
Join Our Mailing List
Hapoalim Bank
בנק הפועלים
Head office: Rothschild Blvd 50, Tel Aviv 6688314, Israel.
Tel.: +972-3-5673800
One of the largest commercial banks in Israel.
Bank Hapoalim B.M. Group provides a variety of banking and financial services through its Division, the Retail Banking Division, and the Financial Markets and International Banking Division.
Hapoalim Bank provides financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Hapoalim provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
In March and August 2024, Hapoalim Bank granted Hasid Brothers Building Contracting Co. two loans for the construction of 54 housing units in an area of about 5,333 square meters in the Gilo settlement neighborhood in occupied East Jerusalem, in accordance with Plan no. 13157 for the development of a new residential complex of approximately 797 housing units in the neighborhood. The bank holds as collateral all the company’s assets and rights of any kind with the real estate.
In December 2023, the bank granted Boneich Construction Development & Investment Ltd. a loan for the construction of a residential project in the settlement of Efrat on lands belonging to the Palestinian village of Artas, according to Plan no. 410/5/52. The bank holds as collateral all the company’s rights in the property.
In November 2023, Bank Hapoalim granted five loans to three construction companies for a development project of 14 plots in a total size of about 14,296 square meters in the Ariel West industrial zone according to Plan no. 130/ת/1/6, on lands belonging to the Palestinian town of Salafit. The bank granted two loans to Leo Properties A.B.D. company, two loans to Sheltam Building, and one loan to Esti Pladot against the companies' rights in the project. The bank holds as collateral all the companies' rights in the property.
In May 2023, the bank granted Shriki Group Enterprises & Construction Ltd. a NIS 800 million loan for construction on two plots of land in total size of 15,978 square meters 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 commerce areas and public buildings on the agricultural lands of Jayyus and the Palestinian town of Azzun.
In May 2022 and in August 2021, the bank granted Briza Bagivaa company loans for the construction of housing units on 9 plots in the total size of 9,191 square meters in the settlement of Alfei Menashe on lands belonging to the Palestinian town of Azzun. The project is part of Plan no. 115/8 and 115/8/1 for the change of land designation from agricultural to residential and the design and construction of 1,406 housing units in Givat Tal neighborhood on the lands of Azun. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In March 2022 and September 2016, the bank granted Boneich Construction Development & Investment two loans for the construction of a residential project on 3,773 square meters of land in the settlement of Beitar Ilit according to Plan no. 426/3. The bank holds as collateral all the company’s existing and future rights in the property and all the company’s rights in respect of a lease agreement signed between the company and the Israeli Civil Administration in the West Bank.
In 2022 and 2021, Bank Hapoalim granted Ba'al Hatanie company a loan for its 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2021, Bank Hapoalim granted Sasi company a loan for the construction of 552 housing units in the settlement of Givat Ze'ev in the occupied West Bank, according 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoliam granted Tsipiya Yazamut company a loan for the construction of 18 housing units in Ma'ale Adumim, according to plan no. 52\3\1\420 (on the lands of al-Izariya). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim granted Effi Capital company a loan for the construction of 180 housing units in Givat Hamatos, located in occupied East Jerusalem, according to plan מק\19245- Guidelines for Unification and Division without Owners` Consent in Givat HaMatos. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim granted A. Haver company a loan for its project in Beitar Illit, after the company won tender יש\2021\10 with the Israel Land Authority, according to plan 10\3\1\1\426 (on the lands of the village of Husan). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021, Bank Hapoalim garnted Ofer Aharon company a loan for a construction project in Beitar Illit, based on the tender יש\10\2021, according to plan no. 10\3\1\1\426 (on the lands of Husan village). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2021 and 2020, Bank Hapoliam granted Ofer Aharon a mortgage for a construction 125 housing units in Har Homa settlement neighborhood in ouccpied Est Jerusalem, according to plan 10310.
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 2020, the bank granted the company Mishkan Eliyahu a loan for the construction of 104 housing units in the settlement of Ma'ale Adumim settlement in the occupied West Bank, according to plan no. 42\4\1\420 for construction in Ma'ale Adumim, specifically on the lands of al-Izariya village. 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's entire assets in the time the specific property was held as collateral.
In 2020, Bank Hapoalim granted the Company for the development of Mateh Binyamin a loan for the construction of 372 housing units in the settlement of Beit Aryeh in the occupied West Bank, according to 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2020, Bank Hapoliam granted the company Mivneh a loan for a consturction project in Karnei Shomron settlement in the occupied West Bank, according to plan no. 117\8 (on the lands of the Palestinian village of Deir Estya). The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2020, Bank Hapoliam provided the company Mivneh with a 3,500,000 NIS loan for a 12,000 meter plot in 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.
In 2019, the bank granted Dona Engineering & Building Co. a loan for a development project of residential, industrial and commercial areas on about 29,412 square meters in the settlement of Modi’in Ilit according to Plan no. 210/6/3, on lands belonging to the Palestinian town Deir Qaddis.
In 2019 and 2021, Bank Hapoalim granted YSD Meitav company a loan for the construction of 44 housing units in Ma'ale Efraim settlement in the occupied West Bank, according to 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. The bank also holds as collateral the company's full assets during the period within which the agreement was reached.
In 2019, Bank Hapoalim granted the company Mishkan Eliyahu a loan for its project in the settlement of Beitar Illit. The company won the tender in 2018 for the construction of 4-6 housing units in the settlement, according to plan no. 10\ב\7\426 (Changes in Land Designation in Beitar Illit on the Land of the Village of Husan). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2019, Bank Hapoalim granted the company Zalman Barashi a loan for its project of expanding the Kfar Adumim settlement in the occupied West Bank with 300 additional housing units. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2019, Bank Hapoalim granted a loan for the company Bonim Nachon for a construction project in Beitar Illit, according to plan no. 8\426 (on the lands of Wadi Fukin, Husan, Nahalin). 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 and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project. In 2020, 2021 and 2022, Bank Hapoliam granted the company a loan for construction projects in Beitar Illit, according to the same plan.
In 2017, Who Profits documented the vast involvement of the bank in settlement construction. The report showed that the bank accompanied construction projects in the settlements of Beitar Illit, Ma'aleh Adumim and Efrat in the occupied West Bank, and Har Homa, and Pisgat Ze'ev in occupied East Jerusalem. For the full report see Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Financing Settlement Development Projects
Wind Farms in the occupied Syrian Golan
Hapoalim Bank led the financing of the construction of the Ruach Beresheet and Emek Habacha wind farms in the occupied Syrian Golan with more than NIS 1 billion for Enlight Renewable Energy. These large-scale commercial projects are contingent on the exploitation of occupied land and natural resources in partnership with the area’s settlements for the benefit of Israeli households and industry on both sides of the Green Line.
Tours in Settlements
Hapoalim Bank 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.
The Jerusalem Light Rail
In March 2022, Hapoalim Bank granted Bardarian Brothers company a loan, holding as collateral the company’s contractual rights in accordance with the company’s contract to carry out infrastructure works in preparation for the laying of the railway tracks in the Gilo settlement neighborhood in occupied East Jerusalem.
In 2020, Hapoalim Bank led the consortium to finance the expansion of the Red Line and the establishment of the Green Line of the Jerusalem Light Rail (JLR) as part of the J-Net Project. The consortium awarded the JLR’s operators CAF and Shapir Engineering and Industry with 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.
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.
In 2006, Hapoalim 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 Leumi Bank.
Superbus
In 2021, Hapoalim Bank 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.
Banking Services to Settlement Local and Regional Councils
Hapoalim Bank 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.
Hapoalim Bank has provided loans and various banking services for the Oranit Municipality, Emanuel Local Council, Megilot Dead Sea Regional Council, Elkana Municipality, Har Hevron Regional Council, Beitar Ilit Municipality, Efrata Local Council, Kedumim Local Council, Har Hevron Regional Council, Har Adar Local Council, Mateh Binyamin Regional Council, Jordan Valley Regional Council, Givat Ze’ev Local Council, Gush Etzion Regional Council and Ma'ale Adumim Municipality in the occupied West Bank, as well as to the Golan Regional Council in the occupied Syrian Golan.
As of July 2024, the bank has at least 27 pledge agreements with local and regional councils and municipalities of Israeli settlements in the occupied West Bank and the Syrian Golan. In the vast majority of cases, the bank holds the council’s revenue and assets as collateral for these loans.
Efrat
As of July 2024, the bank has a total of 8 active pledge agreements with the Efrata Local Council in the occupied West Bank. In January 2024, Hapoalim Bank signed a pledge agreement with the Efrata Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Oranit
As of July 2024, the bank has 2 active pledge afreements with Oranit Local Council in the occupied West Bank.
As of March 2024, the Oranit municipality maintains a bank account in Hapoalim Bank.
In June and May 2013, Hapoalim Bank signed pledge agreements with the Oranit settlement Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Kedumim
As of July 2024, the bank has 4 active pledges with the Kedumim Local Council in the occupied West Bank. In March 2018, Hapoalim Bank signed a pledge agreement with the Kedumim Local Council for a period of 99 years against the council’s current and future revenue as collateral.
Emanuel
On 21 November 2023, the Emanuel Local Council general assembly approved the pledge of the council’s revenue as collateral for a NIS 250,000 loan for 2024 from the bank.
Megilot Dead Sea
On 3 August 2023, the Megilot Dead Sea Regional Council general assembly approved a NIS 1,865,148 loan from the bank for the financing of development and infrastructure works. The Megilot Dead Sea Regional Council provides services to 8 settlements in the northern Dead Sea area in the occupied West Bank.
In October 2021, Hapoalim Bank signed a pledge agreement with the Megilot Dead Sea Regional Council for a period of 99 years against all council’s current and future revenue as collateral.
Har Hevron
In April 2023, Hapoalim Bank signed a pledge agreement with the Har Hevron Regional Council for a period of 15 years against all council’s current and future revenue as collateral. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
On 2 August 2022, the Har Hevron Regional Council general assembly approved a NIS 8 million loan from the bank and decided to open an account at the bank.
Elkana
On 1 January 2023, the Elkana municipality general assembly approved the pledge of the council’s revenue for a NIS 450,000 loan from the bank.
In July 2021, Hapoalim Bank signed a pledge agreement with the Elkana Local Council in the occupied West Bank for a period of 99 years against all council’s current and future revenue as collateral.
Beitar Ilit
On 14 June 2022, the Beitar Ilit municipality Finance Committee approved a NIS 3 million loan from the bank for financing the replacement of street lighting.
In December 2021, Hapoalim Bank signed a pledge agreement with the Beitar Ilit municipality in the occupied West Bank for a period of 99 years against the council’s current and future revenue as collateral.
Jordan Valley Regional Council
The Jordan Valley (also named Arvot HaYarden) Regional Council provides services to 21 settlements 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.
Har Adar
In December 2019, Hapoalim Bank 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.
Emanuel
In January 2018, Hapoalim Bank signed a pledge agreement with the Emanuel Local Council in the occupied West Bank for a period of 99 years against the council’s revenue as collateral.
Mateh Binyamin
In January 2015, Hapoalim Bank signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years against the council’s revenue as collateral. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
Givat Ze’ev
In October 1994, Hapoalim Americai Israeli Ltd. (which was merged into Hapoalim Bank in 1998) signed a pledge agreement with the Givat Ze’ev Local Council in the occupied West Bank for a period of 99 years against the council’s revenue as collateral.
Golan Regional Council
As of July 2024, the bank has 5 active pledge agreements with the Golan Regional Council, which includes 33 settlements in the occupied Syrian Golan.
In February 2024, Hapoalim Bank signed a pledge agreement with the Golan Regioanl Council for a period of 12 years against all council’s current and future revenue as collateral.
In January 2024, Hapoalim Bank signed a pledge agreement with the Golan Regioanl Council for a period of one year against all council’s revenue as collateral.
Branches in Settlements
Bank Hapoalim operates branches and automated banking services machines in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
These include the settlements of Beitar Ilit, Ariel and Ma’ale Adumim in the occupied West Bank; the settlement neighborhoods of Ramot, Pisgat Ze’ev, Gilo, Armon Hanatziv, Ramot Eshkol, Neve Yaakov and the French Hill in occupied East Jerusalem; and the settlement of Bnei Yehuda in the Syrian Golan.
Financing Military Projects
In 2022, Hapoalim Bank 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.
Palestinian Captive Market
Hapoalim Bank benefits from access to the Palestinian banking market as a captive market.
Under the Paris Protocol, the Palestinian economy is subjected 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 have to rely 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.
The bank also operates a branch in Salah al-Deen Street in East Jerusalem.
Ownership
The company is publicly traded on the Tel Aviv Stock Exchange under the ticker symbol: POLI.
Major shareholders include: The Phoenix Holdings Ltd. (7.14%), Clal Insurance Enterprises Holdings Ltd. (7.05%), Harel Insurance Investment & Financial Services Ltd. (6.85%).
Chair of the Board of Directors: Ruben Krupik
CEO: Dov Kotler
Subsidiaries
Poalim Equity Ltd. (100%), Opaz Ltd. (100%), Hapoalim (Switzerland) Ltd. (100%), Diur B.P. Ltd. (100%), Hapoalim Properties (Shares) Ltd. (100%), Peilim Portfolio Management Ltd. (100%), Sure-Ha International Ltd. (100%), Amal Holdings A.D. Ltd. (17.9%).
Partners
* This section refers to the company's general business partners