lumi industry banking founded february 27 1902 ; 114 years ago 1902 02 27 headquarters tel aviv israel area served israel and 21 other countries key people rakefet russak aminoach president and ceo david brodet chairman products credit cards consumer banking corporate banking finance and insurance investment banking mortgage loans private banking private equity savings securities asset management wealth management services financial services revenue 13.21 billion 2015 operating income 2.83 billion 2015 net income 28.8 billion 2015 total assets 416 billion 2015 number of employees 12 528 2016 1 subsidiaries arab israel bank website www.leumi.co.il bank leumi hebrew lit . national bank is an israeli bank . it was founded in london as the anglo palestine company on february 27 1902 by members of the zionist movement to promote the industry construction agriculture and infrastructure of the land hoped to ultimately become israel . today bank leumi is israel s largest bank by total assets as of 2015 with overseas offices in luxembourg 2 usa switzerland the uk mexico uruguay romania jersey and china . 3 though nationalized in 1981 now bank leumi is mainly in private hands with the government as the largest single shareholder with 14.8 % of the stock as of june 2006 . the other major shareholders are shlomo eliyahu and branea invest which each hold 10 % of the stock constituting the control core of the bank . sixty percent of the bank s stocks are held by the public and traded on the tel aviv stock exchange . contents 1 history 2 landmark buildings 3 global presence 4 see also 5 references 6 external links history edit historic bank leumi branch on jaffa road jerusalem branch of bank leumi in rehavia jerusalem branch of bank leumi in zichron yaacov the jewish colonial trust predecessor to the present bank leumi was founded at the second zionist congress and incorporated in london in 1899 as the financial instrument of the zionist organization . the initial capital raised a total of 395 000 fell far short of the 8 million target ; nahum sokolow in 1919 wrote the british east africa company which administered 200 000 square miles began with the same amount 250 000 . 4 at the time zionists did not feel that there was any taint to being identified with colonialism . the bank s activities in palestine were carried out by the anglo palestine bank a subsidiary formed in 1902 . the bank opened its first branch in jaffa in 1903 under the management of zalman david levontin . early transactions included land purchase imports and obtaining concessions . branches were opened in jerusalem beirut hebron safed haifa tiberias and gaza . 5 the anglo palestine bank offered farmers long term loans and provided loans to the ahuzat bayit association which built the first neighborhood in tel aviv . 6 during world war i the ottoman government declared the bank because it was registered in england to be an enemy institution and moved to shut it down and confiscate its cash . 7 after world war i its operations expanded . in 1932 the main branch moved from jaffa to jerusalem . 7 during world war ii the anglo palestine bank helped to finance the establishment of industries that manufactured supplies for the british army . after the founding of the state of israel the bank won the concession to issue new banknotes . in 1950 the bank was renamed bank leumi le israel national bank of israel . when the bank of israel was established in 1954 bank leumi became a commercial bank . 7 in 1971 bank leumi acquired arab israel bank ai bank ; est. 1960 which serves mainly the arab citizens of israel in the north of the country . ai bank has 35 branches located in israel s northern and triangle regions . the government of israel nationalized bank leumi in 1983 as a result of the bank stock crisis . in 2011 bank leumi acquired geneva based banque safdie sa for chf 143m . bank leumi merged banque safdie with bank leumi switzerland ltd to form leumi private bank in early 2012 . 8 leumi closed its representative office in melbourne australia in october 2013 in july 2014 bank julius baer announced that it had purchased the private banking assets of bank leumi . baer bought bank leumi luxembourg s.a. leumi s private bank in luxembourg and leumi will also transfer the clients of leumi private bank to baer . 9 landmark buildings edit the main branch of bank leumi on jaffa road jerusalem built during the british mandate by the german jewish architect erich mendelsohn has been declared a landmark building . another branch of bank leumi on the corner of ramban street in jerusalem s rehavia neighborhood an example of bauhaus architecture was designed by the german jewish architect leopold krakauer . 10 it was built in 1935 as a private home and was renovated in 2007 to restore the original facade . global presence edit luxembourg due to the activities of bank leumi david almog ; the branch manager of bank leumi s new york office david kalai and nadav kalai bank leumi entered into a deferred prosecution agreement in december 2014 with the us department of justice admitting that it conspired to hide assets and income in offshore accounts . the bank paid a fine of 270 million and turned over more than 1 500 names of its u.s. account holders . 2 canada leumi has representative offices in toronto and montreal romania bank leumi romania s.a. switzerland leumi private bank uk bank leumi uk plc uruguay leumi latin america sa usa bank leumi usa see also edit economy of israel references edit http www.forbes.com companies bank leumi a b hoke william august 2015 . court sentences pair for undisclosed offshore accounts . tax notes today . august 11 2015 2015 tnt 155 4 . http duns100.dundb.co.il ts.cgi tsscript 2011e e30a4 nahum sokolow 1919 history of zionism 1600 1918 . published by longmans green and co. p xlvii . jewish colonial trust jewish virtual library . http english.leumi.co.il home 0 2777 2849 00.html a b c anglo palestine bank . jewish virtual library . retrieved 2013 02 13 . http www.globes.co.il serveen globes docview.asp did 1000702725 & fid 1725 financial times 22 july 2014 p. 16 . http www.biu.ac.il js rennert history 12.html external links edit wikimedia commons has media related to bank leumi . official website bank leumi uk bank leumi usa v t e companies of the ta 25 index companies of israel avner oil exploration azrieli group bezeq cellcom delek delek drilling elbit systems fibi frutarom gazit globe hapoalim israel chemicals israel corporation israel discount bank isramco leumi mizrahi tefahot nice opko health ormat technologies osem paz oil company perrigo company strauss group teva v t e banks in israel central bank bank of israel major banks bank hapoalim bank leumi arab israel bank israel discount bank mercantile discount bank other banks bank of jerusalem bank mizrahi tefahot first international bank of israel bank otsar ha hayal union bank of israel see also banking in israel retrieved from https en.wikipedia.org w index.php title bank leumi & oldid 742392715 categories banks of israelfinancial services companies of israelcompanies listed on tasebanks established in 1902israeli brands1902 establishments in the united kingdomcompanies based in tel avivpeople named in the panama papershidden categories pages using infobox company with unsupported parametersarticles containing hebrew language textcommons category with local link same as on wikidata navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages catal e tinadeutschespa ol fran ais polskirom n edit links this page was last modified on 3 october 2016 at 12 29 . text is available under the creative commons attribution sharealike license ; 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