Bank Hapoalim (TASE: POLI) has denied reports by "Globes" that it plans selling Bank Hapoalim Switzerland. Bank Hapoalim said in response, "The bank has been examining for some time its deployment in international private banking in order to align it with the business environment. It should be clarified that Bank Hapoalim Switzerland is a strategic asset and its sale is not being considered." However, the bank did not deny, as reported by "Globes" that it plans selling its Latin American banking operations based around two branches in Uruguay. Published by Globes [online], Israel business news - www.globes-online.com - on November 27, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016 Bank Hapoalim (TASE: POLI) has denied reports by "Globes" that it plans selling Bank Hapoalim Switzerland. Bank Hapoalim said in response, "The bank has been examining for some time its deployment in international private banking in order to align it with the business environment. It should be clarified that Bank Hapoalim Switzerland is a strategic asset and its sale is not being considered." However, the bank did not deny, as reported by "Globes" that it plans selling its Latin American banking operations based around two branches in Uruguay. Published by Globes [online], Israel business news - www.globes-online.com - on November 27, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016 Bank Hapoalim
Bank Hapoalim has denied reports from "Globes" that it will sell its Swiss operations following examinations of its deployment in international private banking. The bank said on Monday the review was part of a broader effort to improve its compliance with anti-money laundering and know-your-customer requirements.