Source - RNS
RNS Number : 7229F
Hapoalim International NV
19 May 2017

RNS Notification

19 May 2017


Offering Circular dated 30 July 2015 in respect of the USD 2,500,000,000 Global Medium Term Programme (the "Programme") of Hapoalim International N.V. (the "Issuer"), as amended, restated or supplemented from time to time (the "Offering Circular")

RE: Notification in respect of certain events affecting Bank Hapoalim B.M., the guarantor of the Issuer's obligations under the Programme


Terms used but not otherwise defined herein shall have the meanings ascribed to them in the Offering Circular.

The Issuer makes the following announcement in respect of Bank Hapoalim B.M., the guarantor of the Issuer's obligations under the Programme (the "Guarantor"):


Further to the notification dated 5 December 2016 regarding the Guarantor's agreement for the sale of the portfolio of assets of the Guarantor's international private banking customers by its Miami Branch to Safra National Bank of New York ("Safra Bank"), the Guarantor now notifies that the aforesaid sale was completed on 15 May 2017.


The updated consideration with respect of the sale, as known at the time of reporting, is approximately 14 million U.S. Dollars. This amount may vary according to the number of customers being transferred and who will continue to be customers of Safra Bank after 15 May 2017.


Following the sale, the Guarantor is expected to record in its financial statements for the second quarter of 2017 a net profit after tax of approximately NIS 25 million.


For further information please contact:

Iman Roy

Associate (Indian advocate)

Berwin Leighton Paisner LLP

Direct Dial:            +44 (0) 20 3400 4059

Email:                   [email protected]

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