London, March 2017
Bank Leumi (UK) full year results 2016 show continued strong organic growth
Bank Leumi (UK) plc published its full year 2016 financial results showing a healthy increase in profit and strong, organic growth throughout the business.
Net profit for the year ended 31 December 2016 stands at £17.445 million (2015: £13.065 million), an increase of 34%.
Over the course of the year, the Bank continued to help clients build up their own businesses and safeguard their returns. Customer deposits increased by £345 million (40%) against full year 2015, while the loan book increased by £116 million (11%).
Management continues to improve the resilience of the Bank and ensure it is well capitalised. The Tier 1 capital ratio at full year stood at 12.7% up from 10.2% in 2015.
Bank Leumi (UK) CEO, Eli Katzav, said:
“2016 was another year of strong, organic growth for the Bank. Our customers are saving more with us, and borrowing more from us.
“The business is getting stronger, more resilient, more profitable and more efficient year on year. Our expertise enables us to offer our customers a highly competitive, bespoke service, while our strength gives our customers reassurance and peace of mind. In uncertain times, and through changing market conditions, our clients know that they can rely on us to help them develop their businesses and protect their wealth.”
On March 30 Leumi Group, Bank Leumi (UK)’s Tel-Aviv based parent company, announced its full year 2016 results. Net profit stands at NIS 2.8 billion ($728), similar to 2015. The Tier 1 capital ratio increased to 11.15%, from 9.58% at the end of 2015. Total assets of the Group increased 5.3% to NIS 438.6 billion ($114.1 billion), with deposits of the public increasing 5.5% to NIS 346.9 billion ($90.2 billion). The Group also announced a new 20% dividend policy.
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 operates over 250 branches across Israel, alongside offices in key financial centres worldwide. The Group offers a comprehensive range of specialised financial services.