Bank Leumi
One of Israel's two largest banks. Founded 1902 as Anglo-Palestine Bank under Herzl. Issuing bank pre-1954. Now LUMI on the TASE.
Bank Leumi is one of Israel's two largest banks alongside Bank Hapoalim. Founded in 1902 as the Anglo-Palestine Bank under Theodor Herzl's institutional planning for the proto-state, Leumi played a foundational role in preparing the institutional foundation of the State of Israel — including operating as the issuing bank before the 1954 establishment of the Bank of Israel. Leumi posted record earnings in 2024 and again in 2025, alongside Hapoalim — combined NIS 29.5 billion top-five net profit in 2024 and approximately NIS 32 billion in 2025. The bank was named in the May 6, 2026 Competition Authority concentration group declaration and was among the five Israeli banks divested by Norway's sovereign wealth fund in August 2025.
Fact box
| Type | Publicly traded commercial bank |
|---|---|
| Founded | 1902 (as Anglo-Palestine Bank); renamed Bank Leumi 1954 |
| Headquarters | Tel Aviv, Israel |
| Listed | Tel Aviv Stock Exchange (LUMI) |
| International footprint | UK, China, Switzerland, Mexico |
| US operation | Bank Leumi USA — sold to Valley National Bancorp in 2022 |
Bank Leumi was established in 1902 as the Anglo-Palestine Bank under the founding institutional planning for the proto-state. Theodor Herzl was among the founders, and the Anglo-Palestine Bank served as the issuing bank for early 20th-century Palestine before the 1954 establishment of the Bank of Israel transferred issuance to the new central monetary authority. The bank was renamed Bank Leumi le-Israel (“National Bank of Israel”) in 1954 to reflect the new configuration.
Leumi's position in Israeli banking is anchored by its scale (one of the two largest banks by assets), its corporate banking depth across Israeli industry, its substantial mortgage market position (jointly with Hapoalim at 45% of Israeli mortgages), and its cross-border network across the UK, Switzerland, China, and Mexico. The 2022 sale of Bank Leumi USA to Valley National Bancorp removed Leumi from direct US commercial banking, though the broader cross-border network persists.
The 2024 financial year was a record year in modern Bank Leumi history. 2025 surpassed it as the sector posted a second consecutive record year. The bank was named alongside the other four large banks in the May 6, 2026 Competition Authority concentration group declaration. Leumi was also among the five Israeli banks divested by Norway's NBIM in August 2025, alongside Hapoalim, Mizrahi Tefahot, FIBI, and FIBI Holdings, citing concerns about financing settlement activity in the West Bank.
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- Bank Hapoalim · Bank of Israel
Sources
- Bank Leumi 2024 and 2025 annual reports (TASE filings); Bank Leumi historical archives (Anglo-Palestine Bank history; 1954 renaming).
- Middle East Monitor citing Financial Times, “Israeli banks under fire for soaring profits,” September 2025.
- The Times of Israel, “Israel's competition watchdog declares top 5 banks an oligopoly,” May 6, 2026.
- CNBC, “Norway's giant wealth fund exits six firms on Israel concerns,” August 26, 2025.
- The Times of Israel, “Regulator demands fairness from Israeli banks,” May 2025.
Additional anchor sources: Globes; Calcalist; Israeli Competition Authority publications; Reuters. Data current as of Q2 2026.