Article - Bank Hapoalim Centennial
Bank Hapoalim Centennial
Bank Hapoalim was founded in 1921 by the Histadrut (The General Federation of Laborers in Israel) and the Zionist Organization, based upon the pre-state Zionist vision of workers in Eretz Israel. Led by its courageous business vision, the bank is now one of the largest and leading banks in Israel.
Berl Katznelson, one of the founders of Bank Hapoalim, said at its establishment ceremony, “Bank Hapoalim is a financial institution of the working class, intended to serve the entire working class. Its goal is to help organized workers establish their cooperatives, to help them obtain new financial positions and to discover and create new job opportunities.”
This statement steered the bank’s management during its first decades and symbolized the bank’s vision to encourage growth, prosperity and financial security for Israelis. Over the years, the bank has developed a broad network of branches and commercial banking activity in all realms of banking, providing its customers with a wide range of banking and financial services. Since Israel’s establishment in 1948, Bank Hapoalim has been a key player in building the country’s infrastructure and has financed energy, housing and transportation transactions. In addition to its activity in Israel, the bank group also operates abroad and maintains relationships with leading banks worldwide.
After the State nationalized Bank Hapoalim, and pursuant to its being owned by a controlling core for more than a decade, two years ago it became a bank with no controlling core. Today, the bank is at the forefront of financial technology (fintech), and its customer service has undergone a digital transformation. The bank encourages and promotes financial innovation and in 2016, it launched the “bit” payment application, which has become extremely successful in Israel, with hundreds of thousands of users.
As it marks 100 years of operation, Bank Hapoalim would like to thank the millions of customers who have been a significant part of its activity over the years, and shall continue to work on their behalf and be there for them at all the important junctions in their lives.
Featured on the Stamp and the First Day Cover
Solar panels, lettuce field, skyscrapers in Tel-Aviv, road interchange – Shutterstock;
Settling in Mitzpe Ramon, a farmer in the Kibbutz Naan fields – National Photo Collection;
An old Bank Hapoalim branch and a historic bank share – courtesy of Bank Hapoalim;