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Abonner Bank Hapoalim (Switzerland) Ltd

Bank Hapoalim (Switzerland) Ltd

Bank Hapoalim Switzerland completes merger with Bank of New York - Inter Maritime Bank, Geneva

Zurich (ots)

Bank Hapoalim Switzerland has successfully
completed the merger with Bank of New York - Inter Maritime Bank,
Geneva.
As of January 3, 2006 Bank Hapoalim Switzerland will have more
than 10.5 billion Swiss Francs client assets, comfortable own means
of above 250 million Swiss Francs and employ 160 people.
Founded in 1975 with headquarter in Zurich, Bank Hapoalim
Switzerland has branches in Zurich, Geneva and Luxembourg as well as
representative offices in Tel Aviv and now also in Hong Kong and
Moscow. With a wide international network, mainly in the Western
Hemisphere, it provides professional private banking services to a
worldwide clientele.
The bank recorded exceptional results in the past 3 years,
tripling assets under management and profits reaching 22 million
Swiss Francs in the first 9 months 2005.
Bank Hapoalim Switzerland is a fully owned subsidiary of the
largest financial group in Israel, Bank Hapoalim B.M. In 2004 the
group had assets of 60.8 billion US-dollars and showed a net profit
of 489 million US-dollars. It is steadily expanding its international
presence whilst reinforcing its position as the largest financial
institution in Israel. Its shares are traded on the Tel Aviv and the
London Stock Exchange.

Contact:

Helmut Gareus, CFO
E-Mail: helmut.gareus@hapoalim.ch

Bank Hapoalim (Switzerland) Ltd
Stockerstrasse 33
8039 Zürich
Tel. +41/44/283'81'81
Internet: http://www.hapoalim.ch