Top Foreign Banks in Israel
I was recently in Israel (before Corona) and did some research on foreign banks there before that trip. The notes I took down I share gladly with you here on TheBankerBlog.com.
Israel is one of the world’s most advanced countries. It has been branded as the fifth-most innovative country in the world due to the attention and weightage it gives to the technological side of its economy. Due to its compact population, the ratio of technical individuals to normal workers is quite high.
Tel Aviv is known to be one of the most modern and high-tech cities in the world. Israel is one of the front-runners in today’s world. This makes it a major center of attention for global superpowers like the USA. A lot of worldwide companies anchor themselves in Western Asia through Israel. This includes foreign banks which have granted the country a correspondence.
Widely famed banks like the French BNP Paribas are present in Israel. A lot of other financial institutions also exist, but we can understand the worldwide importance of Israel by seeing that such esteemed groups have made their presence available there. The presence of international banks provides financial help and aid to businessmen and local companies.
The banks are listed below and we can see that some of the most prestigious corporations are included. Israel is a constantly advancing country and the native businesses rely on monetary support. The global banks provide this and that is how they also help to stabilize the economy.
These banks include:
Banks with a banking license are only number 2. – 5. These four are the only foreign banks in Israel that have an Israeli banking license as a full bank (according to the list of the Bank of Israel here: Banking Corporations Israel). BNP in Israel is a representative office.
Israeli Banks with larger foreign operations include:
BNP Paribas is one of the largest international banking groups. Based in France, this bank goes back to the mid-19th century, 1848 to be exact. It started as a national bank but through the century, it evolved into one of the biggest banks in the world. It operates in 72 countries worldwide.
Israel is one of these countries. The BNP Paribas started operating in Israel in 1996. It has provided businessmen in Israel a gateway to a more large-scale platform. The bank also provides financial scaffolding to starting corporations and companies. This bank is dependent on its global structure and solidarity to operate. However, in Israel, the bank “only” operates a Representative Office.
BNP Paribas was made by the merging of the Banque Nationale de Paris and Paribas. Located in Tel Aviv, this branch of the prestigious bank provides a lot of opportunities for the local businessmen.
This is an American bank, founded in 1812 as a national bank for New York. It is quite a major banking group with more than 2,500 branches in just 19 countries. In the USA, there are 723 branches spread out in six cities. In Mexico, there are more than 1400 branches, although these were operated by their subsidiary, Banamex.
Meanwhile, in Israel, Citibank is considered one of the largest and important financial groups. The significance of this statement can be understood by the fact that there are quite a few international banks there. To achieve the title of being the best among all those is quite a feat. Citibank started out in 1996 and obtained the respective licensing and authorization in 2000.
Since then, the bank has stuck with Israel through thick and thin. This bank is the reason a lot of local vendors have found a larger market for their wares. The bank provides investment banking to Israeli corporations and groups. See also How global are US banks?
The top ten financial institutions include banks from all leading countries of the world. We have looked at the French and American banks. This one is a British bank; the largest one in Europe and falling in sixth place worldwide. To understand the history of this prestigious group, we only have to look at what its name stands for.
The Hong Kong Shanghai Banking Corporation was incorporated in 1866. It was established in London to serve the purpose of a holding company. HSBC has branches all over the world in 65 countries. It has been functioning in Israel since 2001 and it is the provider of a diverse set of services.
It serves the basic purposes of personal banking, through which normal individuals can enjoy the facilities of the bank. It also provides investments and global marketing for its customers as well. Like other banks, they help small and fresh business find their edge. The feature that sets this bank apart is the wide array of services it provides.
Another multinational bank harboring in Israel is the State Bank of India. The State Bank of India is something of a historical icon when it comes to the modern banking system. All prestigious banks indeed started in the 1800s but this bank holds a special place because of all it has been through.
It was first named the Bank of Calcutta in 1806. This was the era in which the British held supremacy over the sub-continent. After several renaming and changes, the bank eventually was called the State Bank of India. Since the partition of the country, this bank has risen through the ranks of the financial world.
Apart from being one of the biggest banks in India, it is now operating in many countries as a multinational banking group. Israel is one of these countries. Situated in Ramat Gan, this bank offers various financial services to its customers. The investment and startup services, the personal banking facilities as well as loans are provided to the patrons with a unique convenience.
Barclays traces its history back in London to 1690. It is nowadays a worldwide universal bank with its roots in Great Britain.
In Israel, Barclays is located in Tel Aviv – Yafo.
The following are not foreign banks but well-known Israeli banks with large international operations.
This is an Israeli bank, aided and assisted by international shareholders. The US has committed correspondence with this bank. Bank Leumi has a vast international recognition, through its presence in major cities across the globe. This is the largest bank in Israel concerning net worth.
Another remarkable and mention-worthy bank in Israel is the Bank Hapoalim. It was made in the early 20th century and its ownership has a history of constantly changing. It was first nationalized and then later privatized again by a group of businessmen. This bank is also one of the largest banks in Israel.
This bank is of global importance due to its working in several other countries. Its stock trade is dependent on the Tel Aviv Stock Exchange.
Based in Tel Aviv, this bank is the provider of numerous services. It is a company traded on the Tel Aviv Stock Exchange. The bank provides services to all types of customers it receives. From average people to advanced businesses and firms, Israel Discount Bank gives all sorts of conveniences to its patrons.
This bank is also recognized on a global scale due to its widespread provision. Located in multiple places in Europe, this bank has made quite a name for itself in the financial world.
These are some of the banks located in Israel with international importance. From multi-billion dollar groups to locally constructed financial institutions, Israel is the hub of monetary businesses. Most of these banks are found in Tel Aviv, the economic capital and the crown jewel of Israel (the real capital city is Jerusalem). With these top foreign banks in Israel, you should be well served. For specific information on Israeli Banks, I recommend israelbanks.co.il. This website shows you all the Banks and Branches in Israel including contact information and bank codes.
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