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Bank Hapoalim B.M. Jun 01
Standard & Poors, June 2001
Abstract
The ratings on Bank Hapoalim B.M. reflect the group's dominant market position in Israel's banking and financial services sector, its stable performance, and strong liquidity. Moreover, the ratings are based on Hapoalim's stand-alone financial capacity and do not reflect any government support. Hapoalim is fully privatized, with the majority of stock free floating and core shareholders holding less than 46%. At year-end 2000, consolidated assets totaled Israeli new shekel (INS) 223.1 billion ($55.2billion), securing Hapoalim's place as the largest banking group in the North African and Middle Eastern rim. The group's well-established global banking network serves both trade finance and the personal and private banking needs of local indigenous Jewish populations--primarily in Europe, the U.S., and Latin America--providing moderate diversity,...
Companies mentioned in this report are: Bank Hapoalim B.M.,Hapoalim International N.V.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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