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PRESS RELEASE
Bank Leumi (uk) plc

PRESS RELEASE
Bank Leumi (uk) plc

Bank Leumi (UK) posts £12.1 million profit for 2017

30 April 2018

 

Bank Leumi (UK) posts £12.1 million profit for 2017

 

Strong loans book underpins stable environment for new CEO Gil Karni

 

LONDON: Bank Leumi (UK) plc, the multi-specialist London-based subsidiary of Israel’s international bank, posted a net profit of £12.1 million and a Tier 1 capital ratio of 15.4% in 2017. Customer lending stood at £1,113 million, with customer deposits at £1,043 million. The credit quality of the loan book remains strong.

 

Other highlights from 2017 include positive results from the Bank’s specialist corporate finance desks:

  • The Property Finance desk increased its lending to income-generating projects both in London and across the UK.
  • The Commodity Finance desk’s close relationship-driven approach enabled it to weather an environment of increasing regulation, price volatility and geopolitical events.
  • The Media Finance desk cooperated closely with its partner office in Bank Leumi USA to navigate ongoing transformation of the industry.
  • The Hotel Finance desk continued to serve a growing customer base across the UK and Western Europe.
  • The Israel-related and International Commercial Finance business lines strategically merged into the new International Commercial and Hi-Tech Finance desk, in order to build on sector expertise both within the Bank and the wider Group.

The Report also highlights the Bank’s asset-based lending subsidiary, Leumi ABL, reaffirming its position as a leading player in the UK market. Having won multiple awards in 2017, the business continued to grow, with client commitments up by 2% and a net profit of £2 million.

 

“These results put us in a robust position,” said Bank Leumi (UK)’s new CEO, Gil Karni, who took up the position after having headed up Bank Leumi Romania. “I am keen to make best use of this solid performance in London from all of our specialist desks, and continue to build on our strengths as a flexible, relationship-based Bank. Promoting the Leumi brand and identifying new areas for development, I am confident that we can continue to satisfy the financing requirements of our existing clients – as well as take advantage of new opportunities. I look forward to leading the Bank through a positive 2018.”

 

For further details on the Bank’s performance in 2017, read the report below.

Annual Report 2017


Information for editors
 

About Bank Leumi (UK) and Bank Leumi Group

 

Bank Leumi (UK) is a UK-regulated bank offering a wide range of corporate and commercial 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 serves its clients with deposit accounts, hedging and foreign exchange capabilities and a full treasury offering.

 

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 operates over 230 branches across Israel, alongside offices in key financial centres worldwide. The Group offers a comprehensive range of specialised financial services. Bank Leumi (UK) plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority