The CEO of Yahav Bank, Shaul Galbard, announced today (Sunday) his intention to end his position at the bank. At the board meeting that took place today, Galbard said: “After 15 challenging and very successful years, I have decided that the time has come to retire and embark on a new path. I feel enormous satisfaction from the tremendous journey that Bank Yahav has made in the last 15 years, from a small and niche bank to a prominent and competitive entity in the household arena in Israel.”
The 63-year-old CEO added, “Together with our excellent employees and managers, we were able to meet all the goals of the strategic plans and present exceptional performance: the bank’s balance sheet increased fourfold and reached NIS 35 billion; The bank’s profits quadrupled to a total of NIS 278 million, as did the bank’s equity, which increased to NIS 2.17 billion. During this period, public deposits increased fourfold and credit to the public grew fivefold. The number of bank branches increased from 20 to 54. At this point, I continue in my duties as usual and of course I will assist whoever replaces me in whatever position is required,” said Shaul Galbard.
Shaul Galbard Photo: Ilan Narinsky
Galbard thanked the chairman and the members of the board of directors for their cooperation, for the benefit of promoting the bank’s business and its actions. Board chairman Israel Engel thanked Galbard on behalf of the members of the board of directors for his significant personal contribution to the growth of the bank, its prosperity and bringing it to the center stage of banking and financial consumer services in Israel.
Studied at Kfar Hara Yeshiva and flew on missions on behalf of Bnei Akiva
Galbard was born in Montevideo, Uruguay and grew up in a Zionist Jewish community. At the age of 15 he decided to immigrate to Israel on his own and study at the High Yeshiva in Kfar Hara. After 4 years of service in the IDF, he started working at Bank Leumi and after four years he was sent on a mission to Uruguay on behalf of Bnei Akiva, the youth movement where he grew up.
Galbard joined Bank Mizrahi Tefahot as a management reserve and in the mid-1990s was sent to Mexico City as the group’s representative in international activities. Upon his return from Mexico, Galbard continued to advance as branch manager, business center, area manager, VP of Human Resources and VP of the business division in the group, until his appointment as CEO of Bank Yahav in 2008, a position he holds to this day.