London, March 2016
Bank Leumi (UK) posts double-digit profit growth for Full Year 2015
Bank Leumi (UK) plc published its full year 2015 financial results showing an increase in both profit and return on capital.
Net profit for the year ended 31 December 2015 was up 81% to £13.1 million (2014: £7.2 million).
Return on Capital Employed (ROCE) also increased significantly, up to 9.2% from 5.7% in 2014. ROCE is a key metric used by the Bank to gauge the effectiveness of its use of capital.
Bank Leumi (UK) also continues to support and invest in clients. The Bank grew its loan book by £153 million, or 15%, over the financial year.
Bank Leumi (UK) CEO, Eli Katzav, said:
“I am very pleased to announce the Bank’s 2015 full year results. Our improvement in profits shows the strength of Bank Leumi (UK)’s offering, while our improvement in return on capital is a testament to the hard work and professionalism of our staff. I am also proud that we have grown our loan book by 15%. It is another example of us doing what we do best: supporting our clients and helping them to grow their businesses.”
This week Leumi Group, Bank Leumi (UK)’s Tel-Aviv based parent company, announced its full year 2015 results. Total profit increased to NIS 2,835 million ($727 million), compared with NIS 1,413 million in 2014 ($362 million). Total assets of the Group were NIS 416.5 billion ($106.7 billion) up from NIS 397.0 billion ($101.7 billion).
For more details, please contact:
Liat L Moskovich, Marketing & Public Relations Manager, Bank Leumi (UK) plc
T: +44 (0)20 3772 1602
About Bank Leumi UK and Bank Leumi Group
Bank Leumi (UK) is a first class boutique bank offering a wide range of corporate and private banking services to both UK based and international clients.
An integral part of the Bank Leumi Group founded in London in 1902, the Bank operates through its Head Office in London and its award winning Asset Based Lender subsidiary, Leumi ABL in Brighton.
Activities include commercial finance, trade finance, with a particular expertise in financing cross border trading, commodity finance, financing Israeli related business, media finance, property finance and hotel finance.
The Bank also specialises in UK and international private banking and wealth management, offering an extensive range of deposit accounts, investment services, executive residential mortgages, structured products, and foreign exchange and hedging facilities.
Bank Leumi (UK) is a subsidiary of the Leumi Group, one of Israel’s largest banking groups and a reputable global banking institution. The Group has total managed assets in excess of $311 billion and $7.4 billion in equities. Leumi operates over 250 branches across Israel, alongside offices in key financial centres worldwide. The Group offers a comprehensive range of specialised financial services.