One of the largest banks in Israel.
Leumi bank provides financing for the construction of housing projects in Israeli settlements in occupied territory. As of February 2017, the bank was financing two projects that are under construction: a project of 130 housing units in the settlement of Alfei Menashe, and a project of 92 housing units in the settlement of Pisgat Ze’ev.
Alfei Menashe: Bank Leumi is accompanying the fourth stage of the Amirei Nof housing project of 130 housing units in of the Israeli Construction company Z.M.H Hammerman in the Givat Tal neighborhood in the settlement of Alfei Menashe. The project’s entire credit frame is NIS 184.5 million, including a cash credit of NIS 20 million provided by the bank to the company.
Pisgat Ze’ev: Bank Leumi is accompanying a project of 92 housing units of the Israeli construction company Sarfati Shimon in northeast Pisgat Ze’ev.
In 2013, the Leumi bank has extended credit to the Israeli company Bardarian Brothers to conduct road pavement, development and infrastructure works in the settlement of Givat Ze’ev. At the same year, the bank extended credit to the company for an infrastructure project in Har Homa and for road and infrastructure works on Neve Ya’akov settlement’s southern hillsides.
Additionally, bank Leumi accompanied a 60 housing units project built by the Israeli company Mitzpor Adumim (a subsidiary of the publicly traded Amos Hadar Group, which turned private in 2015) in the center of Ma’ale Adumim. the bank extended a credit of NIS 23 million to the company for acquiring the land and for the required guarantees.
The bank also accompanied a project of 77 housing units, which was built by the Israeli construction company Ahim Hasid in the south of the Har Homa.
The bank provides loans and financial services to local authorities of settlements:
In May 2016, the bank provided a loan of NIS 5 million to the Gush Etzion Regional Council. In February 2015, the bank provided a loan of NIS 10.9 million to the Mateh Binyamin Regional Council. In June 2015, the bank provided a loan of NIS 2.52 million to the Har Hevron Regional Council. In 2015, the bank provided loans to Efrat Local Council.
The bank also manages the bank accounts of Mateh Binyamin Rregional Council and Efrat Local Council.
In addition, the bank manages the funds of Clal finance and Jerusalem equity portfolio, owned by the settlement of Efrat, along with Hapoalim bank; Alfei Manashe settlement opened accounts for education funds and for development funds in Leumi Bank; Ma’ale Adumim settlement has signed an investment consultant agreement with Leumi Bank; Kiryat Arba settlement’s property tax are saved in Leumi Bank.
The bank finances the Jerusalem light rail project, which was designed to connect the settlement neighborhoods around Jerusalem with the city center.
The bank also provides mortgages for homebuyers in settlements. For instance, a sign in the settlement of Tzofim (see picture on the left) says that special offers for mortgages by Leumi Mortgage Bank are given for private construction in the Tzofim View (Nofei Zufim) Project. Additionally, the bank provides mortgages for homebuyers in the settlements of Ariel, Beitar Illit and Katzrin in the Golan Heights.
The bank benefits from access to the Palestinian monetary market as a captive market.
The bank has branches in the following settlements in the West Bank: Modi’in Illit, Ma’ale Adumim and Kiryat Arba, and in the settlement neighborhoods of Ramat Eshkol, Ramot and Gilo in East Jerusalem.
Click here to read the full report about the involvement of the Israeli banks in the settlement enterprise from February 2017.
Click here to read the full report about the involvement of the Israeli banks in the occupation industry from October 2010.
Major shareholders: The government of Israel (5.83%), Rakefet Russak-Aminoach (0.02%)
Public holdings: 94.14%
Chair of directors: David Brodet
President and CEO: Rakefet Russak-Aminoach
Leumi for Agriculture Development (100%); Leumi for Industry Development (100%); Leumi Partners (100%); Leumi Bonds and Investments (100%); Leumi Capital Market Services (100%); Leumi Financial Holdings (100%); Leumi Real Holdings (100%); Leumi-Tech (99.5%); Leumi Card (80%); enVerid Systems (17.1%); Super-Pharm (14.99%); EZBob (10.85%); Avgol Industries (7.7%); Israel Chemicals (1.4%).
Bank Leumi Le’Israel Corporation – US (100%); Bank Leumi US (99.9%) – owns Bank Leumi Financial Corporation (99.9%) and Leumi US Investment Company (99.9%); Bank Leumi UK (100%); Leumi Re – Guernsey Island (100%); Leumi Romania (99.8%); Kenon Holdings (2.3%).
The bank operates a representative office in Shenghai, China.
Leumi Bank also funds projects of Israeli companies in Romania, Russia and Ukraine.
Bank Leumi is a partner in the Israeli company TSI Highways – the bank is the largest investor, with NIS 87.5 million invested in the partnership.
The Leumi group is invested in Paz oil.
All the information contained in this page is valid until Wed 01/02/2017
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