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 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.
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