Bank Leumi

Bank Leumi
Native name
בנק לאומי‎
Company typePublic
TASE: LUMI
IndustryBanking
FoundedFebruary 27, 1902; 122 years ago (1902-02-27), Jaffa, Independent Sanjak of Jerusalem, Ottoman Empire
FounderJewish Colonial Trust (Jüdische Kolonialbank) Limited, London, UK
Headquarters
Tel Aviv
,
Israel
Area served
Israel and 21 other countries
Key people
Hanan Friedman
(CEO)[1]
Samer Haj-Yehia
(chairman)
Products
ServicesFinancial services
RevenueIncreaseUS$ 3.9 billion (2016)
Increase₪2.83 billion (2015)
IncreaseUS$ 727.1 million (2016)
Total assetsIncreaseUS$ 113.96 billion (2016)
Number of employees
Increase12,528 (2016)[2]
SubsidiariesArab Israel Bank
Websitewww.leumi.co.il

Bank Leumi (Hebrew: בנק לאומי, lit. National Bank; Arabic: بنك لئومي) is an Israeli bank. It was founded on February 27, 1902, in Jaffa as the Anglo Palestine Company as subsidiary of the Jewish Colonial Trust (Jüdische Kolonialbank) Limited[3]: p.19  formed before in London by members of the Zionist movement to promote the industry, construction, agriculture, and infrastructure of the land hoped to ultimately become Israel. Today, Bank Leumi is Israel's largest bank (by total assets as of 2015), with overseas offices in Luxembourg,[4] US, Switzerland, the UK, Mexico, Uruguay, Romania, Jersey, and China.[5]

Though nationalized in 1981, now Bank Leumi is mainly in private hands, with the government as the largest single shareholder, with 14.8% of the stock (as of June 2006). The other major shareholders are Shlomo Eliyahu and Barnea Investments,[6] which each hold 10% of the stock, constituting the control core of the bank. Sixty percent of the bank's stocks are held by the public and traded on the Tel Aviv Stock Exchange.

  1. ^ "Leumi appoints Hanan Friedman as CEO". globes.co.il. 2019-08-27. Retrieved 2020-07-14.
  2. ^ "Bank Leumi". Forbes.
  3. ^ Cite error: The named reference Zehn was invoked but never defined (see the help page).
  4. ^ Hoke, William (August 2015). "COURT SENTENCES PAIR FOR UNDISCLOSED OFFSHORE ACCOUNTS". Tax Notes Today. 11 August 2015 (2015 TNT 155-4).
  5. ^ List of Commercial Banks by Total Assets Archived 2012-07-14 at the Wayback Machine
  6. ^ Bank Leumi privatization completea