BANK HAPOALIM LTD-ADR Business Summary

Bank Hapoalim Ltd. (BKHYY) is a dominant universal financial institution in Israel, generating revenue primarily through net interest income from a diversified loan portfolio—including residential mortgages, consumer credit, and corporate financing—and non-interest income from account fees, credit card commissions, and capital market services. The bank operates through three primary business segments: Retail Banking, serving millions of households and small businesses; Corporate Banking, providing complex financing and advisory to large enterprises; and Financial Markets and International Banking, which manages global trading and institutional services. As of July 2026, the bank maintains a leading market share alongside its primary rival Bank Leumi, while facing intense competition from Mizrahi Tefahot Bank and Israel Discount Bank. It is currently designated as a member of a "concentration group" by the Israel Competition Authority, reflecting its systemic role as a pillar of the domestic banking oligopoly. The leadership team is headed by CEO Yadin Antebi, who assumed the role in August 2024 after serving as Head of Financial Markets and International Banking and previously as the Commissioner of Capital Markets at the Ministry of Finance. He is supported by Chairman Noam Hanegbi, appointed in February 2025, and CFO Ram Gev, who oversees the bank's robust capital position and financial reporting. The executive suite also includes CIO Erez Rachmil, who joined in 2025 from Playtika to lead the bank's digital transformation and information technology strategy. Founded in 1921, Bank Hapoalim operates without a controlling shareholder, with its ownership widely distributed among institutional and public investors. The board of directors includes prominent figures such as Michal Halperin and Yair Avidan, ensuring a governance structure focused on long-term stability and regulatory compliance.