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Bank Hapoalim Credit Card Unit Said Valued at Near $1 Billion

  • Hapoalim and rival Leumi said to create teams for sale
  • Isracard could fetch ~$1b, Leumi Card $700m: people familiar

Bank Hapoalim Ltd.’s credit-card unit may be valued at about $1 billion as the lender prepares to divest the business to comply with new Israeli regulations, according to people with knowledge of the matter.

The Tel Aviv-based bank and smaller rival Leumi Le-Israel Ltd are both meeting with investment banks about the sale of their credit card units, the people said, asking not to be identified as the talks are private. Leumi Card Ltd. could be valued at about $700 million, one of the people said.