Business newspaper «Globes» last week reported that Bank Hapoalim, Israel's biggest, was intending to sell the Swiss private-banking division, adding that it wanted to divest the unit together with the South-American and the Florida-based branches.

While refraining from commenting last week's report, the bank now issued a comment, again through «Globes». Bank Hapoalim Switzerland is considered a strategic asset and remains not for sale, the company said.

The denial doesn't however apply to the business in Latin America, which comprises two branches in Uruguay.