Bank of Israel Governor Stanley Fischer on Monday granted Barclays Bank PLC a foreign bank license and a permit to open a branch in Israel .
Barclays, based in London, is a global banking and financial services company with operations in more than 50 countries across the world and some 150,000 employees.
The Bank of Israel's Banking Supervision Department indicated Barclays' decision to expand its activity in Israel with satisfaction, noting that the expansion of the activity of international banks will help advance competition in the banking system.
The decision to grant Barclays a license brings the number of foreign banks operating in Israel to five: Barclays, Citibank, HSBC, Paris-based BNP Paribas and SBI – India's biggest bank.
Barclays has had an office in Israel since 2008, and the permit to open a branch serves as a platform for expanding its banking activity in Israel.