Bank Hapoalim is setting up a new representative office in Paris and an Israeli desk in its London branch, as part of a business strategy for expanding activity in Europe.
Other banks have recently also expanded their activity in Europe, and in the past two weeks Discount Bank and United Mizrahi Bank have announced they are setting up representative offices in Germany.
To date, Bank Hapoalim's European activity has focused on its branches in Switzerland, Luxembourg, London and Manchester, and the bank's representative offices in Germany. The new representative office will be opened in Paris, once the registration and licensing process is completed. The bank says it is setting up the representative office following an analysis of customer requirements and the growth potential of the French activity.
The Israeli desk at the Bank Hapoalim branch in London is designated for providing services to Israeli business customers active in the European market. The Israeli desk will start operating at the beginning of September. Current Bank Hapoalim dealing room customers department manager Raya Yona will head the Israeli desk in London.
Bank Hapoalim operates overseas through 29 subsidiaries, branches and representative offices in 14 countries.
Published by Israel's Business Arena on 2 July, 2000