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Bank Hapoalim (Switzerland) Ltd Ranked One of Top 20 Foreign Banks in Switzerland
Zurich (ots) - Bank Hapoalim (Switzerland) Ltd has been ranked 19th by the Association of Foreign Banks in Switzerland, based on 2009 net earnings. The ranking, a significant rise from the 29th place the Bank reached in 2007, prior to the global recession, is further indication of the continued growth and success of the Bank. The 2009 ranking included 120 foreign banks.
Orit Lerer, Chairperson of the Board, commented: "This achievement represents a clear testimony to the strength of the Bank, the professionalism of our team and the trust we have earned from our clients.I have full confidence that the bank's board of directors, management and staff will continue to lead the bank to great achievements".
Chief Executive Michael Warszawski said: "The core strength of a business is measured by its resilience and adaptability in times of crisis. Thanks to consistent hard work and dedication, we have successfully retained our clients and assets, protected our equity, and proven our capabilities. The current year continues to present challenges and opportunities. Our next challenge is to not only maintain our impressive ranking, but to improve on it in 2010!"
About Bank Hapoalim (Switzerland) Ltd
Bank Hapoalim (Switzerland) Ltd is the Swiss Private Banking subsidiary of Bank Hapoalim, B.M. Established in 1975, Bank Hapolim (Switzerland) Ltd delivers sophisticated wealth management services to high net-worth individuals around the globe via branches in Zurich, Geneva, Luxembourg and Singapore, representative offices in Tel Aviv, Moscow and Hong Kong and the BHI Trust Company in Jersey. Assets under Management of Bank Hapoalim (Switzerland) Ltd reached CHF 10.9 billion at end of 2009. Bank Hapoalim (Switzerland) Ltd's steady increase in clients, assets and earnings derives from carefully targeted business and team acquisitions and from strong organic growth. Bank Hapoalim (Switzerland) Ltd. is regulated by the Swiss Financial Market Supervisory Authority FINMA.
ots Originaltext: Bank Hapoalim (Schweiz) AG