Type Public Revenue 597 million ILS (2014) | Industry Banking Website www.bankotsar.co.il | |
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CEO Yaacov Malkin (1 Jan 2014–) Founded November 1946, Mandatory Palestine Parent organization | ||
Bank Otsar HaHayal (Hebrew: בנק אוצר החייל) is an Israeli bank. The name literally means "Bank of the Soldier Treasury".
Otsar HaHayal was founded in 1946 in the British Mandate of Palestine as a means for Jewish war veterans to store their assets. It was a bank only for soldiers until 1972, and had business partners within the IDF.
In 1972, it became an official bank and opened up to the general public, although it still largely kept its association with military assets. It was purchased by Bank Hapoalim in 1977.
By 1996, Otsar HaHayal completely transformed into a commercial public bank.
On January 24, 2006, Bank Hapoalim's share of the bank, 66%, was sold for 703 million NIS, approximately 185% of Otsar Ha-Hayal's estimated worth, to the First International Bank of Israel.