The transformation of Bank Hadoar: Just a few months after Israel Post was acquired by the Milgam Group, Bank Hadoar will undergo a renewal process, during which it will change its name and introduce new services and products. This change is part of a broader corporate strategy that includes entering the consumer credit sector.
The new name selected to replace the current Bank Hadoar is Doar Finances, and it will soon be launched on the company’s website, in branches, and on checks, prepaid cards, and payment vouchers. The branding will encompass both the existing and future financial services and current account management operations of Israel Post.
Currently, Bank Hadoar provides services in foreign currency exchange, money transfers, prepaid cards, bill payments, and fees, serving around 500,000 current account holders.
Israel Post intends to expand its existing range of financial services and enter new areas, including consumer credit. The current account services, which serve approximately half a million customers, will also operate under the new branding, under the same conditions and with the same regulatory oversight from the Ministry of Communications in accordance with the postal license.
The company plans to leverage Israel Post's advantages, such as its size and nationwide network of nearly 400 branches, to expand its financial activities and strengthen its position against companies operating in the sector.
The rebranding is part of a broader initiative planned for Israel Post as part of a strategic program focusing on growth drivers in e-commerce and financial services. Over the past year, Israel Post launched its insurance business by establishing Doar Insurance, an agency offering car and travel insurance under an objective broker model.
The company's preparations for the new branding began about a year and a half ago under the guidance of the Bank of Israel, as part of a process preceding the privatization of the company. The advertising campaign accompanying the new branding is led by the Glickman Shamir Samsonov advertising agency.
Merav Spektorovsky, CEO of Bank Hadoar, will manage the operations of Doar Finances, which will include the existing activities of Bank Hadoar, the Doar Insurance operations, the new consumer credit services, and additional financial services.