| The Governor of the Bank of Israel has granted Barclays Bank a foreign bank licence and a permit to open a branch in Israel. Barclays Bank thus joins four other foreign banks with branches in Israel. Barclays has had a representative office operating in Israel since the end of 2008, and receiving the branch permit provides it with a platform to expand its banking activity in Israel. |
| Barclays Bank is based in the UK, and has extensive activity around the world in retail and investment banking. Barclays has branches and representative offices in more than fifty countries, and it employs a staff of about 150,000. |
| The Banking Supervision Department expressed satisfaction at Barclays Bank's decision to expand its activity in Israel, and noted that following the granting of a licence to Barclays, there will be five foreign banks operating in Israel: |
| Barclays Bank PLC, Citibank N.A., HSBC Bank plc, BNP Paribas sa, and the State Bank of India. |
| The Banking Supervision Department welcomes the expansion of activity of international banks in Israel, and believes that this will help to increase competition in the banking system. |
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