Bank Hapoalim is realigning its international private-banking business. Israel's biggest bank however denied reports that it wants to sell the Swiss unit.
Business newspaper «Globes» last week reported that Bank Hapoalim, Israel's biggest, was intending to sell the Swiss private-banking division, adding that it wanted to divest the unit together with the South-American and the Florida-based branches.
While refraining from commenting last week's report, the bank now issued a comment, again through «Globes». Bank Hapoalim Switzerland is considered a strategic asset and remains not for sale, the company said.
The denial doesn't however apply to the business in Latin America, which comprises two branches in Uruguay.
