Bank Leumi

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  • Galia Maor, President and CEO
  • Eitan Raff, Chairman of the Board

Bank Leumi (Hebrew בנק לאומי; German National Bank) is the most traditional Israeli bank. The company is listed on stock exchange in the TA -100 Index of the Tel Aviv.

History

On February 27, 1902 Theodor Herzl founded the Anglo Palestine Company ( APC), together with other members of the Zionist movement in London. He had already in 1897 proposed the establishment of a Jewish Colonial Trust and could be set up in 1899 with greatest efforts personal and financial nature under the name of the Jewish Colonial Trust ( JCT ) in London (registration date: March 22, 1899). Director of JCT of 1899-1923 was the Russian-Jewish physicist and banker from Libau Nissan cat Nelson. The JCT should be the main instrument for the enforcement of Jewish settlement in the larger scale in what was then Palestine. As a subsidiary of the Anglo-Palestine Bank was founded in 1902. You could fulfill their historic mission.

On 26 July 1903, the Institute opened its first branch in Jaffa, with Zalman David Levontin as director. By 1914, against the resistance of the Ottoman Empire many other branches were founded in Jerusalem, Beirut, Haifa, Hebron, Tiberias and Gaza. The APC allowed the expansion of the first Jewish towns and settlements in Palestine.

After the outbreak of the First World War, the bank was forced to close their stores, but could continue to do business in the Spanish Consulate General in Jerusalem. After the war, the Bank has participated in all major investments in Palestine.

After the establishment of Israel, the APC was entrusted with the construction and monitoring of a monetary system and took over the functions of a central bank. Since the office of the Bank London was still an Israeli Bank was founded under the name Bank Leumi Le'Israel. This took over in 1951 all assets and obligations of the APC.

In 1954, the Bank of Israel was founded and took over the function as a central bank. Bank Leumi was thus a pure commercial bank.

Since 2014, a process running for tax evasion against more than 100 German customers of the bank.

Positioning in the market

Bank Leumi is by Bank Hapoalim, the second largest bank in Israel. It has subsidiaries in the USA, Switzerland and United Kingdom and offices in 19 countries (2004):

  • Bank Leumi USA
  • Bank Leumi (UK ) plc
  • Bank Leumi (Switzerland) Ltd..
  • Bank Leumi (Luxembourg) S. A.
  • Bank Leumi Romania S. A.
  • Bank Leumi (Jersey) Ltd..
  • Leumi ( Latin America ) SA

The assets of the Bank Leumi amount to $ 57.6 billion ( 2005). In the first half of 2005, it posted a net profit of 241 million dollars.

Shareholder

The controlling interest in Bank Leumi has the U.S. investor Barnea Investments secured in November 2005, which consists of the portfolio companies, Cerberus Capital Management and Gabriel Capital. The remaining shares are in free float.

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