Tel-Aviv, Monday, May 9 - HSBC Bank will become the first fully chartered foreign bank operating in Israel to join the Tel Aviv Stock Exchange (TASE).
The move, which has received Stock Exchange Board of Directors approval, is a natural step in the expansion of the bank’s activities in Israel. It will also facilitate local financial institutions’ dealings with HSBC. HSBC operates locally through a branch established in 2001 and offers a wide variety of services in commercial, personal, and investment banking.
Yehuda Levi, HSBC’s CEO in Israel, said, “Since the inauguration of our Israeli branch four years ago, we have built a sound foundation for our business activities. This latest development is an important one and gives us the opportunity to deepen our involvement in Israel’s capital markets. The HSBC Group and its overseas customers are already among the most active foreign investors in the Israeli capital market.”
Saul Bronfeld, Managing Director of the TASE, commented, “A global player like HSBC will expand the international investor base of our market. The TASE offers top-quality services to its local and international members. We believe that additional global investment houses will follow HSBC, Deutsche Bank, and UBS and will become exchange members in the near future."