Bank Hapoalim is the best bank in Israel 2002,

Global Finance

magazine has ruled.

The rating is based on the banks' performance, reputation, and quality of management, which are ranked after consulting with bankers and financial managers,

Most of the selected banks are leaders in their field, the magazine's publisher, Joseph Giarraputo, noted.

Other choice banks, according to the magazine's criteria, are Bank of America, Deutsche Bank and HSBC.

The prizes will be handed out on September 30, in Washington, on the occasion of the journal's annual conference.

Another magazine,

The Banker

, chose Hapoalim as having the highest international standards based on innovations in customer-bank relations management. Hapoalim's combination of focused international expansion, first-ranking Internet service and reorganized operations according to the highest standards make it the best financial institution in Israel, the magazine concluded.