Bank Leumi
Full Text
בנק לאומי לישראל בע"מ
Head office: Aba Hillel Silver St. 3, Lod 7129404, Israel. Tel.: +972-76-8858111
Bank Leumi Le-Israel B.M. is an Israeli commercial bank that provides a variety of banking and financial services.
Bank Leumi provides financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Leumi provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
The Jerusalem Light Rail
Bank Leumi is the financier of the Blue Line Project of the Jerusalem Light Rail (JLR).
In April 2024, Bank Leumi was chosen to lead the financing for the construction of the Blue Line of the Jerusalem Light Rail (JLR) in an estimated amount of NIS 1 billion. The bank signed a memorandum of understanding with the partners in the project Danya Cebus and Dan Public Transportation Company.
The JLR network connects Israeli settlements in occupied East Jerusalem to the center of the city and its western side, creating territorial continuity and easing settler movement on both sides of the Green Line, whilst expropriating Palestinian land and fragmenting Palestinian communities.
The Blue Line project, the most recent expansion of the JLR network, is intended to create transportation continuity on both sides of the Green Line, serving settlements in occupied East Jerusalem and the West Bank and facilitating their integration into the transportation network in Jerusalem. The Blue Line is to be the third and longest axis of the JLR network with a total of 53 stations of which 17 are located in the settlements of Ramat Eshkol, Ramot, Gilo, and the planned settlement, Givat Hamatos in occupied East Jerusalem. For more on the JLR Blue Line project see Who Profits’ Update Developments in the Expansion of the JLR Network: The Blue Line.
In 2020, Bank Leumi financed the establishment of the JLR’s Red Line in a joint financing agreement with Hapoalim Bank with about NIS 2 billion for the JLR’s previous franchise, the Citypass Group.
Design City
Bank Leumi financed the establishment of the Design City shopping complex, opened in July 2021, with NIS 250 million. The Design City is located in the Mishor Adumim settlement Industrial Zone in the settlement of Ma’ale Adumim in the occupied West Bank. For more on the Design City project see Who Profits report The Design City Shopping Complex Built on Occupied Palestinian Land.
Real Estate Projects
In June 2024, Bank Leumi granted a loan to the settlement-registered company, Kiryat Sefer (Diur Modi'in), located in the Beitar Ilit settlement. The bank holds the company’s account in its branch as collateral. Bank Leumi previously accompanied the construction of the company's residential project called "Nofei Illit" in the settlement of Modi'in Ilit.
In March and April 2024, Bank Leumi granted Leo Properties A.B.D. company two loans, holding as collateral the company’s contractual rights in two plots of about 37,497 m2 in the Ariel West Industrial Zone on lands belonging to the Palestinian town of Hares, as part of Plan no. 6/7/ת/130 for change of designation from commerce to industry in the Industrial Zone.
In March and April 2024, Bank Leumi granted Sheltam Building company two loans, holding as collateral the company’s contractual rights in two plots of about 37,497 m2 in the Ariel West Industrial Zone on lands belonging to the Palestinian town of Hares, as part of Plan no. 6/7/ת/130 for change of designation from commerce to industry in the Industrial Zone.
In March and April 2024, Bank Leumi granted Boneich Construction Development & Investments company two loans for the construction of 21 housing units in an area of 3,415 m2 in the settlement of Efrat on lands belonging to the Palestinian town of al-Khader. The bank holds as collateral the company’s contractual rights in the project, including the construction rights, in accordance with a lease agreement with the Israeli Civil Administration (ICA) in the occupied West Bank.
In June 2023, Bank Leumi granted Hasid Brothers Building Contracting Co. a loan, holding as collateral the company’s contractual rights in accordance to a development contract in an area of about 3,222 m2 near Armon HaNatziv Promenade in the settlement neighborhood of Talpiot East in occupied East Jerusalem according to Plan no. 4711 for the designation of the area to an area for hotels and tourism.
In March 2023, Bank Leumi provided two loans to Hasid Brothers Building Contracting Co., holding as collateral the company’s contractual rights in three plots in a development project of a residential complex and public buildings in the Ramot settlement neighborhood in occupied East Jerusalem. In 2012, Bank Leumi accompanied the Hasid Brothers’ project for the construction of 77 housing units on an area of 6,347 m2 in the Har Homa settlement neighborhood in East Jerusalem as part of the neighborhood's expansion.
In 2022, Bank Leumi granted Israeli company Breeza Bagiva'a with a loan for a project in Alfei Menashe settlement according to plans no. 8\115 and 1\8\115 (both on occupied lands of Azzun village). The project stretches on 18,146 meters of land.
In 2021, Bank Leumi granted Israeli company N. Nathanel with a mortgage for its project in Beitar Illit, according to plan no. 3\426. The company was contracted to construct 405 housing units, as well as a commercial area on 4000 meters of land in the settlement. The total amount of land is 88,288 meters.
In 2021, Bank Leumi provided a mortgage for Dafnit company for a construction project in Beitar Ilit, according to plan no. 31\1\426.
In 2021, Bank Leumi granted a loan to Mivneh company for its lots in the Atarot settlement industrial zone in occupied East Jerusalem. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2020, Bank Leumi granted Rotshtein Real Estate a loan for a construction project on 27,016 meters of land in the settlement of Alfei Menashe settlement in the occupied West Bank, according to plan no. 1\17\115- Business Park on the Lands of Azzun and Kufr Thulth villages. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2020, Bank Leumi provided a mortgage for the company Turen Habayit Shelcha for the construction of 85 housing units in Ariel settlement in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2018, 2017 and 2014, Bank Leumi provided loans to Beton Atarot company, holding as collateral the company’s contractual rights in accordance to a development contract on 2,116 m2 in the Mishor Adumim Industrial Zone in the settlement of Ma’ale Adumim, built on the lands of the Palestinian village of Khan al-Ahmar.
In 2016, Bank Leumi provided financial accompaniment for the construction of a sewage treatment plant near Nabi Musa in the occupied West Bank, to serve East Jerusalem's settlement neighborhoods Pisgat Ze'ev, Neve Ya'akov and French Hill.
In 2015 and 2012, Bank Leumi granted All Trade Recycling loans, holding as collateral the company’s contractual rights in two lots in an area of 7,524 m2 property in the Barkan Industrial Zone, in accordance with Plan no. 1/5/ת/130 for the change of designation of the area from open public area to industrial area. Bank Leumi accompanied the construction of the company's electronic recycling plant in the Industrial Zone, and the land and project were provided as collateral to the bank in 2012. For more see Who Profits report Occupational Hazards: The Eco-politics of the Israeli Occupation.
In 2014, Bank Leumi accompanied a residential project of Sarfati Simon company in the settlement neighborhood of Pisgat Ze'ev in East Jerusalem, as part of a plan for the neighborhood's expansion.
In 2013, Bank Leumi granted Greennet Recycling & Waste Treatment a loan, holding the company’s facility in the Atarot Industrial Zone in occupied East Jerusalem as collateral.
Previously, Who Profits documented additional involvement of the bank in settlement construction. For more see Who Profits report Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Banking Services to Settlement Local and Regional Councils
Bank Leumi provides loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
Bank Leumi has provided loans and various banking services for the settlements of Alfei Menashe, Ariel, Kiryat Arba, Beit Aryeh, Golan, Givat Ze’ev, Har Hevron, Mateh Binyamin, Oranit, Efrat, Beitar Ilit, Gush Etzion, Ma’ale Adumim and Har Hevron in the occupied West Bank, and to the Golan Regional Council in the occupied Syrian Golan.
Ma’ale Adumim
As of July 2024, Bank Leumi has 15 active pledge agreements with the Ma’ale Adumim Municipality.
In November 2023, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2122). The bank holds the council’s current and future revenue as collateral.
On 16 January 2023, the Ma’ale Adumim Municipality general assembly approved a NIS 4 million loan from Bank Leumi to finance the municipality’s 2023 development budget.
In April 2021, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2120). The bank holds the council’s current and future revenue as collateral.
In January 2019, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2119). The bank holds the council’s current and future revenue as collateral.
Givat Ze’ev
As of July 2024, Bank Leumi has 10 active pledge agreements with the Givat Ze’ev Local Council.
In May 2023, Bank Leumi signed a pledge agreement with the Givat Ze’ev Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
In December 2019, Bank Leumi signed a pledge agreement with the Givat Ze’ev Local Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
Kiryat Arba
As of July 2024, Bank Leumi has 8 active pledge agreements with the Kiryat Arba Local Council.
In March 2023, Bank Leumi signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
In August 2023, Bank Leumi signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 31 July 2022, the Kiryat Arba Local Council general assembly approved opening of an account for a Torah study school at Bank Leumi.
A 2020 protocol of the general assembly meeting of Kiryat Arba local council mentions a NIS 1 million loan from Bank Leumi.
Har Hevron
As of July 2024, Bank Leumi has 6 active pledge agreements with the Har Hevron Regional Council. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
In 2023, Bank Leumi and Mizrahi Tefahot Bank granted loans in the amount of NIS 16 million loan to the Har Hevron Regional Council.
On 28 November 2023, the Har Hevron Regional Council general assembly approved taking a NIS 1 million loan from Bank Leumi for 2024.
In November 2023, Bank Leumi signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 5 September 2023, the Har Hevron Regional Council general assembly approved taking a NIS 2,983,500 loan for 15 years from Bank Leumi.
In January 2019, Bank Leumi signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
Mateh Binyamin
As of July 2024, Bank Leumi has 6 active pledge agreements with the Mateh Binyamin Regional Council. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
In January 2022, Bank Leumi signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral.
In December 2021, Bank Leumi signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Beit Aryeh
As of July 2024, Bank Leumi has 6 active pledge agreements with the Beit Aryeh Local Council.
In February 2019, Bank Leumi signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
In November 2012, Bank Leumi signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2111) against the council’s current and future revenue up to the amount of NIS 1,800,000 as collateral.
Oranit
As of July 2024, Bank Leumi has 4 active pledge agreements with the Oranit Local Council.
According to the Oranit Local Council’s general assembly minutes from March 2023, the main activity of the council's funds is conducted at Bank Leumi and Mizrahi Bank.
According to the Local Council’s general assembly minutes from September 2022, Bank Leumi financed the renovation of a school in the council.
In January 2023, Bank Leumi signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
In August 2021, Bank Leumi signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Efrat
As of July 2024, Bank Leumi has 4 active pledge agreements with the Efrat Local Council.
According to the protocol of the Efrat Council general assembly from 2021, the council has investment of NIS 15 million divided between three investment firms and three banks, including Bank Leumi.
In November 2020, Bank Leumi signed a pledge agreement with the Efrata Local Council for a period of 99 years (ends 2119) against the council’s current and future revenue as collateral.
Beitar Ilit
As of July 2024, Bank Leumi has 6 active pledge agreements with the Beitar Ilit Municipality.
In October 2003, Bank Leumi signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2102) against all the municipality's revenues from the local government treasury up to the amount of NIS 3 million as collateral.
In October 2003, Bank Leumi signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2102) against all the municipality's current and future revenue up to the amount of NIS 3 million as collateral.
Gush Etzion
As of July 2024, Bank Leumi has 2 active pledge agreements with the Gush Etzion Regional Council. The Gush Etzion Regional Council provides services to 22 settlements in the occupied West Bank.
In June 2016, Bank Leumi signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2115) against all the municipality's current and future revenue (with the exception of funds originating from the state budget) up to the amount of NIS 3,250,000 as collateral.
Alfei Menashe
In March 2021, Bank Leumi signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
According to the council’s general assembly protocol from 2020, the council received a NIS 6,000,000 loan from the bank.
Ariel
In December 2021, Bank Leumi signed a pledge agreement with the Ariel Municipality for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Golan Regional Council
As of July 2024, Bank Leumi has 24 active pledge agreements with the Golan Regional Council. The Golan Regional Council includes 33 settlements in the occupied Syrian Golan.
In April and February 2023, Bank Leumi signed pledge agreements with the Golan Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
According to protocols of the Golan Regional Council general assembly from 2021, the Bank provided the council with a loan amounting to NIS 5,000,000 for the implementation of development projects.
A 2020 general assembly meeting protocol of the Golan Regional council mentions a request for a NIS 600,000 loan from the bank.
Mitzpe Kramim
In 2018, Bank Leumi provided mortgage loans for real estate on land privately owned by Palestinians in the illegal Israeli outpost Mitzpe Kramim in the Jordan Valley in the occupied West Bank.
Branches in Settlements
Bank Leumi operates branches and automated banking services machines in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
These include the settlements of Ma’ale Adumim, Kiryat Arba, Modiin Ilit and Beitar Ilit in the occupied West Bank; the settlement neighborhood of Ramot Eshkol in occupied East Jerusalem; and the settlement of Katzrin in the Syrian Golan.
Bank Leumi benefits from access to the Palestinian banking market as a captive market. The bank operates a branch in Ali Iben Abu Taleb street in occupied East Jerusalem.
Bank Leumi Le-Israel B.M. is an Israeli commercial bank that provides a variety of banking and financial services.
Bank Leumi provides financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Leumi provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
The Jerusalem Light Rail
Bank Leumi is the financier of the Blue Line Project of the Jerusalem Light Rail (JLR).
In April 2024, Bank Leumi was chosen to lead the financing for the construction of the Blue Line of the Jerusalem Light Rail (JLR) in an estimated amount of NIS 1 billion. The bank signed a memorandum of understanding with the partners in the project Danya Cebus and Dan Public Transportation Company.
The JLR network connects Israeli settlements in occupied East Jerusalem to the center of the city and its western side, creating territorial continuity and easing settler movement on both sides of the Green Line, whilst expropriating Palestinian land and fragmenting Palestinian communities.
The Blue Line project, the most recent expansion of the JLR network, is intended to create transportation continuity on both sides of the Green Line, serving settlements in occupied East Jerusalem and the West Bank and facilitating their integration into the transportation network in Jerusalem. The Blue Line is to be the third and longest axis of the JLR network with a total of 53 stations of which 17 are located in the settlements of Ramat Eshkol, Ramot, Gilo, and the planned settlement, Givat Hamatos in occupied East Jerusalem. For more on the JLR Blue Line project see Who Profits’ Update Developments in the Expansion of the JLR Network: The Blue Line.
In 2020, Bank Leumi financed the establishment of the JLR’s Red Line in a joint financing agreement with Hapoalim Bank with about NIS 2 billion for the JLR’s previous franchise, the Citypass Group.
Design City
Bank Leumi financed the establishment of the Design City shopping complex, opened in July 2021, with NIS 250 million. The Design City is located in the Mishor Adumim settlement Industrial Zone in the settlement of Ma’ale Adumim in the occupied West Bank. For more on the Design City project see Who Profits report The Design City Shopping Complex Built on Occupied Palestinian Land.
Real Estate Projects
In June 2024, Bank Leumi granted a loan to the settlement-registered company, Kiryat Sefer (Diur Modi'in), located in the Beitar Ilit settlement. The bank holds the company’s account in its branch as collateral. Bank Leumi previously accompanied the construction of the company's residential project called "Nofei Illit" in the settlement of Modi'in Ilit.
In March and April 2024, Bank Leumi granted Leo Properties A.B.D. company two loans, holding as collateral the company’s contractual rights in two plots of about 37,497 m2 in the Ariel West Industrial Zone on lands belonging to the Palestinian town of Hares, as part of Plan no. 6/7/ת/130 for change of designation from commerce to industry in the Industrial Zone.
In March and April 2024, Bank Leumi granted Sheltam Building company two loans, holding as collateral the company’s contractual rights in two plots of about 37,497 m2 in the Ariel West Industrial Zone on lands belonging to the Palestinian town of Hares, as part of Plan no. 6/7/ת/130 for change of designation from commerce to industry in the Industrial Zone.
In March and April 2024, Bank Leumi granted Boneich Construction Development & Investments company two loans for the construction of 21 housing units in an area of 3,415 m2 in the settlement of Efrat on lands belonging to the Palestinian town of al-Khader. The bank holds as collateral the company’s contractual rights in the project, including the construction rights, in accordance with a lease agreement with the Israeli Civil Administration (ICA) in the occupied West Bank.
In June 2023, Bank Leumi granted Hasid Brothers Building Contracting Co. a loan, holding as collateral the company’s contractual rights in accordance to a development contract in an area of about 3,222 m2 near Armon HaNatziv Promenade in the settlement neighborhood of Talpiot East in occupied East Jerusalem according to Plan no. 4711 for the designation of the area to an area for hotels and tourism.
In March 2023, Bank Leumi provided two loans to Hasid Brothers Building Contracting Co., holding as collateral the company’s contractual rights in three plots in a development project of a residential complex and public buildings in the Ramot settlement neighborhood in occupied East Jerusalem. In 2012, Bank Leumi accompanied the Hasid Brothers’ project for the construction of 77 housing units on an area of 6,347 m2 in the Har Homa settlement neighborhood in East Jerusalem as part of the neighborhood's expansion.
In 2022, Bank Leumi granted Israeli company Breeza Bagiva'a with a loan for a project in Alfei Menashe settlement according to plans no. 8\115 and 1\8\115 (both on occupied lands of Azzun village). The project stretches on 18,146 meters of land.
In 2021, Bank Leumi granted Israeli company N. Nathanel with a mortgage for its project in Beitar Illit, according to plan no. 3\426. The company was contracted to construct 405 housing units, as well as a commercial area on 4000 meters of land in the settlement. The total amount of land is 88,288 meters.
In 2021, Bank Leumi provided a mortgage for Dafnit company for a construction project in Beitar Ilit, according to plan no. 31\1\426.
In 2021, Bank Leumi granted a loan to Mivneh company for its lots in the Atarot settlement industrial zone in occupied East Jerusalem. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2020, Bank Leumi granted Rotshtein Real Estate a loan for a construction project on 27,016 meters of land in the settlement of Alfei Menashe settlement in the occupied West Bank, according to plan no. 1\17\115- Business Park on the Lands of Azzun and Kufr Thulth villages. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2020, Bank Leumi provided a mortgage for the company Turen Habayit Shelcha for the construction of 85 housing units in Ariel settlement in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2018, 2017 and 2014, Bank Leumi provided loans to Beton Atarot company, holding as collateral the company’s contractual rights in accordance to a development contract on 2,116 m2 in the Mishor Adumim Industrial Zone in the settlement of Ma’ale Adumim, built on the lands of the Palestinian village of Khan al-Ahmar.
In 2016, Bank Leumi provided financial accompaniment for the construction of a sewage treatment plant near Nabi Musa in the occupied West Bank, to serve East Jerusalem's settlement neighborhoods Pisgat Ze'ev, Neve Ya'akov and French Hill.
In 2015 and 2012, Bank Leumi granted All Trade Recycling loans, holding as collateral the company’s contractual rights in two lots in an area of 7,524 m2 property in the Barkan Industrial Zone, in accordance with Plan no. 1/5/ת/130 for the change of designation of the area from open public area to industrial area. Bank Leumi accompanied the construction of the company's electronic recycling plant in the Industrial Zone, and the land and project were provided as collateral to the bank in 2012. For more see Who Profits report Occupational Hazards: The Eco-politics of the Israeli Occupation.
In 2014, Bank Leumi accompanied a residential project of Sarfati Simon company in the settlement neighborhood of Pisgat Ze'ev in East Jerusalem, as part of a plan for the neighborhood's expansion.
In 2013, Bank Leumi granted Greennet Recycling & Waste Treatment a loan, holding the company’s facility in the Atarot Industrial Zone in occupied East Jerusalem as collateral.
Previously, Who Profits documented additional involvement of the bank in settlement construction. For more see Who Profits report Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Banking Services to Settlement Local and Regional Councils
Bank Leumi provides loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
Bank Leumi has provided loans and various banking services for the settlements of Alfei Menashe, Ariel, Kiryat Arba, Beit Aryeh, Golan, Givat Ze’ev, Har Hevron, Mateh Binyamin, Oranit, Efrat, Beitar Ilit, Gush Etzion, Ma’ale Adumim and Har Hevron in the occupied West Bank, and to the Golan Regional Council in the occupied Syrian Golan.
Ma’ale Adumim
As of July 2024, Bank Leumi has 15 active pledge agreements with the Ma’ale Adumim Municipality.
In November 2023, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2122). The bank holds the council’s current and future revenue as collateral.
On 16 January 2023, the Ma’ale Adumim Municipality general assembly approved a NIS 4 million loan from Bank Leumi to finance the municipality’s 2023 development budget.
In April 2021, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2120). The bank holds the council’s current and future revenue as collateral.
In January 2019, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2119). The bank holds the council’s current and future revenue as collateral.
Givat Ze’ev
As of July 2024, Bank Leumi has 10 active pledge agreements with the Givat Ze’ev Local Council.
In May 2023, Bank Leumi signed a pledge agreement with the Givat Ze’ev Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
In December 2019, Bank Leumi signed a pledge agreement with the Givat Ze’ev Local Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
Kiryat Arba
As of July 2024, Bank Leumi has 8 active pledge agreements with the Kiryat Arba Local Council.
In March 2023, Bank Leumi signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
In August 2023, Bank Leumi signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 31 July 2022, the Kiryat Arba Local Council general assembly approved opening of an account for a Torah study school at Bank Leumi.
A 2020 protocol of the general assembly meeting of Kiryat Arba local council mentions a NIS 1 million loan from Bank Leumi.
Har Hevron
As of July 2024, Bank Leumi has 6 active pledge agreements with the Har Hevron Regional Council. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
In 2023, Bank Leumi and Mizrahi Tefahot Bank granted loans in the amount of NIS 16 million loan to the Har Hevron Regional Council.
On 28 November 2023, the Har Hevron Regional Council general assembly approved taking a NIS 1 million loan from Bank Leumi for 2024.
In November 2023, Bank Leumi signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 5 September 2023, the Har Hevron Regional Council general assembly approved taking a NIS 2,983,500 loan for 15 years from Bank Leumi.
In January 2019, Bank Leumi signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
Mateh Binyamin
As of July 2024, Bank Leumi has 6 active pledge agreements with the Mateh Binyamin Regional Council. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
In January 2022, Bank Leumi signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral.
In December 2021, Bank Leumi signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Beit Aryeh
As of July 2024, Bank Leumi has 6 active pledge agreements with the Beit Aryeh Local Council.
In February 2019, Bank Leumi signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
In November 2012, Bank Leumi signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2111) against the council’s current and future revenue up to the amount of NIS 1,800,000 as collateral.
Oranit
As of July 2024, Bank Leumi has 4 active pledge agreements with the Oranit Local Council.
According to the Oranit Local Council’s general assembly minutes from March 2023, the main activity of the council's funds is conducted at Bank Leumi and Mizrahi Bank.
According to the Local Council’s general assembly minutes from September 2022, Bank Leumi financed the renovation of a school in the council.
In January 2023, Bank Leumi signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
In August 2021, Bank Leumi signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Efrat
As of July 2024, Bank Leumi has 4 active pledge agreements with the Efrat Local Council.
According to the protocol of the Efrat Council general assembly from 2021, the council has investment of NIS 15 million divided between three investment firms and three banks, including Bank Leumi.
In November 2020, Bank Leumi signed a pledge agreement with the Efrata Local Council for a period of 99 years (ends 2119) against the council’s current and future revenue as collateral.
Beitar Ilit
As of July 2024, Bank Leumi has 6 active pledge agreements with the Beitar Ilit Municipality.
In October 2003, Bank Leumi signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2102) against all the municipality's revenues from the local government treasury up to the amount of NIS 3 million as collateral.
In October 2003, Bank Leumi signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2102) against all the municipality's current and future revenue up to the amount of NIS 3 million as collateral.
Gush Etzion
As of July 2024, Bank Leumi has 2 active pledge agreements with the Gush Etzion Regional Council. The Gush Etzion Regional Council provides services to 22 settlements in the occupied West Bank.
In June 2016, Bank Leumi signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2115) against all the municipality's current and future revenue (with the exception of funds originating from the state budget) up to the amount of NIS 3,250,000 as collateral.
Alfei Menashe
In March 2021, Bank Leumi signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
According to the council’s general assembly protocol from 2020, the council received a NIS 6,000,000 loan from the bank.
Ariel
In December 2021, Bank Leumi signed a pledge agreement with the Ariel Municipality for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Golan Regional Council
As of July 2024, Bank Leumi has 24 active pledge agreements with the Golan Regional Council. The Golan Regional Council includes 33 settlements in the occupied Syrian Golan.
In April and February 2023, Bank Leumi signed pledge agreements with the Golan Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
According to protocols of the Golan Regional Council general assembly from 2021, the Bank provided the council with a loan amounting to NIS 5,000,000 for the implementation of development projects.
A 2020 general assembly meeting protocol of the Golan Regional council mentions a request for a NIS 600,000 loan from the bank.
Mitzpe Kramim
In 2018, Bank Leumi provided mortgage loans for real estate on land privately owned by Palestinians in the illegal Israeli outpost Mitzpe Kramim in the Jordan Valley in the occupied West Bank.
Branches in Settlements
Bank Leumi operates branches and automated banking services machines in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
These include the settlements of Ma’ale Adumim, Kiryat Arba, Modiin Ilit and Beitar Ilit in the occupied West Bank; the settlement neighborhood of Ramot Eshkol in occupied East Jerusalem; and the settlement of Katzrin in the Syrian Golan.
Bank Leumi benefits from access to the Palestinian banking market as a captive market. The bank operates a branch in Ali Iben Abu Taleb street in occupied East Jerusalem.
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Bank Leumi
בנק לאומי לישראל בע"מ
Head office: Aba Hillel Silver St. 3, Lod 7129404, Israel.
Tel.: +972-76-8858111
Bank Leumi Le-Israel B.M. is an Israeli commercial bank that provides a variety of banking and financial services.
Bank Leumi provides financial foundation and services for settlement activities and settlement expansion, and benefits from financial activity in illegal Israeli settlements in the occupied Palestinian territory.
Financing Construction and Infrastructure Projects in Illegal Settlements
Bank Leumi provides financial infrastructure to various construction companies for the purpose of construction of real estate projects in settlements in the occupied West Bank and holds as collateral the company's rights to the land and the project.
The Jerusalem Light Rail
Bank Leumi is the financier of the Blue Line Project of the Jerusalem Light Rail (JLR).
In April 2024, Bank Leumi was chosen to lead the financing for the construction of the Blue Line of the Jerusalem Light Rail (JLR) in an estimated amount of NIS 1 billion. The bank signed a memorandum of understanding with the partners in the project Danya Cebus and Dan Public Transportation Company.
The JLR network connects Israeli settlements in occupied East Jerusalem to the center of the city and its western side, creating territorial continuity and easing settler movement on both sides of the Green Line, whilst expropriating Palestinian land and fragmenting Palestinian communities.
The Blue Line project, the most recent expansion of the JLR network, is intended to create transportation continuity on both sides of the Green Line, serving settlements in occupied East Jerusalem and the West Bank and facilitating their integration into the transportation network in Jerusalem. The Blue Line is to be the third and longest axis of the JLR network with a total of 53 stations of which 17 are located in the settlements of Ramat Eshkol, Ramot, Gilo, and the planned settlement, Givat Hamatos in occupied East Jerusalem. For more on the JLR Blue Line project see Who Profits’ Update Developments in the Expansion of the JLR Network: The Blue Line.
In 2020, Bank Leumi financed the establishment of the JLR’s Red Line in a joint financing agreement with Hapoalim Bank with about NIS 2 billion for the JLR’s previous franchise, the Citypass Group.
Design City
Bank Leumi financed the establishment of the Design City shopping complex, opened in July 2021, with NIS 250 million. The Design City is located in the Mishor Adumim settlement Industrial Zone in the settlement of Ma’ale Adumim in the occupied West Bank. For more on the Design City project see Who Profits report The Design City Shopping Complex Built on Occupied Palestinian Land.
Real Estate Projects
In June 2024, Bank Leumi granted a loan to the settlement-registered company, Kiryat Sefer (Diur Modi'in), located in the Beitar Ilit settlement. The bank holds the company’s account in its branch as collateral. Bank Leumi previously accompanied the construction of the company's residential project called "Nofei Illit" in the settlement of Modi'in Ilit.
In March and April 2024, Bank Leumi granted Leo Properties A.B.D. company two loans, holding as collateral the company’s contractual rights in two plots of about 37,497 m2 in the Ariel West Industrial Zone on lands belonging to the Palestinian town of Hares, as part of Plan no. 6/7/ת/130 for change of designation from commerce to industry in the Industrial Zone.
In March and April 2024, Bank Leumi granted Sheltam Building company two loans, holding as collateral the company’s contractual rights in two plots of about 37,497 m2 in the Ariel West Industrial Zone on lands belonging to the Palestinian town of Hares, as part of Plan no. 6/7/ת/130 for change of designation from commerce to industry in the Industrial Zone.
In March and April 2024, Bank Leumi granted Boneich Construction Development & Investments company two loans for the construction of 21 housing units in an area of 3,415 m2 in the settlement of Efrat on lands belonging to the Palestinian town of al-Khader. The bank holds as collateral the company’s contractual rights in the project, including the construction rights, in accordance with a lease agreement with the Israeli Civil Administration (ICA) in the occupied West Bank.
In June 2023, Bank Leumi granted Hasid Brothers Building Contracting Co. a loan, holding as collateral the company’s contractual rights in accordance to a development contract in an area of about 3,222 m2 near Armon HaNatziv Promenade in the settlement neighborhood of Talpiot East in occupied East Jerusalem according to Plan no. 4711 for the designation of the area to an area for hotels and tourism.
In March 2023, Bank Leumi provided two loans to Hasid Brothers Building Contracting Co., holding as collateral the company’s contractual rights in three plots in a development project of a residential complex and public buildings in the Ramot settlement neighborhood in occupied East Jerusalem. In 2012, Bank Leumi accompanied the Hasid Brothers’ project for the construction of 77 housing units on an area of 6,347 m2 in the Har Homa settlement neighborhood in East Jerusalem as part of the neighborhood's expansion.
In 2022, Bank Leumi granted Israeli company Breeza Bagiva'a with a loan for a project in Alfei Menashe settlement according to plans no. 8\115 and 1\8\115 (both on occupied lands of Azzun village). The project stretches on 18,146 meters of land.
In 2021, Bank Leumi granted Israeli company N. Nathanel with a mortgage for its project in Beitar Illit, according to plan no. 3\426. The company was contracted to construct 405 housing units, as well as a commercial area on 4000 meters of land in the settlement. The total amount of land is 88,288 meters.
In 2021, Bank Leumi provided a mortgage for Dafnit company for a construction project in Beitar Ilit, according to plan no. 31\1\426.
In 2021, Bank Leumi granted a loan to Mivneh company for its lots in the Atarot settlement industrial zone in occupied East Jerusalem. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2020, Bank Leumi granted Rotshtein Real Estate a loan for a construction project on 27,016 meters of land in the settlement of Alfei Menashe settlement in the occupied West Bank, according to plan no. 1\17\115- Business Park on the Lands of Azzun and Kufr Thulth villages. The bank holds as collateral the company’s contractual and actual rights in the land and project, including the right to receive funds from homebuyers and the right to receive VAT refunds and any other funds from Israeli tax authorities in relation to this project.
In 2020, Bank Leumi provided a mortgage for the company Turen Habayit Shelcha for the construction of 85 housing units in Ariel settlement in the occupied West Bank. The bank holds as collateral the company’s contractual and actual rights in the land and project.
In 2018, 2017 and 2014, Bank Leumi provided loans to Beton Atarot company, holding as collateral the company’s contractual rights in accordance to a development contract on 2,116 m2 in the Mishor Adumim Industrial Zone in the settlement of Ma’ale Adumim, built on the lands of the Palestinian village of Khan al-Ahmar.
In 2016, Bank Leumi provided financial accompaniment for the construction of a sewage treatment plant near Nabi Musa in the occupied West Bank, to serve East Jerusalem's settlement neighborhoods Pisgat Ze'ev, Neve Ya'akov and French Hill.
In 2015 and 2012, Bank Leumi granted All Trade Recycling loans, holding as collateral the company’s contractual rights in two lots in an area of 7,524 m2 property in the Barkan Industrial Zone, in accordance with Plan no. 1/5/ת/130 for the change of designation of the area from open public area to industrial area. Bank Leumi accompanied the construction of the company's electronic recycling plant in the Industrial Zone, and the land and project were provided as collateral to the bank in 2012. For more see Who Profits report Occupational Hazards: The Eco-politics of the Israeli Occupation.
In 2014, Bank Leumi accompanied a residential project of Sarfati Simon company in the settlement neighborhood of Pisgat Ze'ev in East Jerusalem, as part of a plan for the neighborhood's expansion.
In 2013, Bank Leumi granted Greennet Recycling & Waste Treatment a loan, holding the company’s facility in the Atarot Industrial Zone in occupied East Jerusalem as collateral.
Previously, Who Profits documented additional involvement of the bank in settlement construction. For more see Who Profits report Financing Land Grab: The Direct Involvement of Israeli Banks in the Israeli Settlement Enterprise.
Banking Services to Settlement Local and Regional Councils
Bank Leumi provides loans, credit and banking services to settlements regional and local councils in the occupied West Bank and the Syrian Golan. These loans can be used to develop infrastructure, build public facilities and provide municipal services to the residents of the settlement.
Bank Leumi has provided loans and various banking services for the settlements of Alfei Menashe, Ariel, Kiryat Arba, Beit Aryeh, Golan, Givat Ze’ev, Har Hevron, Mateh Binyamin, Oranit, Efrat, Beitar Ilit, Gush Etzion, Ma’ale Adumim and Har Hevron in the occupied West Bank, and to the Golan Regional Council in the occupied Syrian Golan.
Ma’ale Adumim
As of July 2024, Bank Leumi has 15 active pledge agreements with the Ma’ale Adumim Municipality.
In November 2023, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2122). The bank holds the council’s current and future revenue as collateral.
On 16 January 2023, the Ma’ale Adumim Municipality general assembly approved a NIS 4 million loan from Bank Leumi to finance the municipality’s 2023 development budget.
In April 2021, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2120). The bank holds the council’s current and future revenue as collateral.
In January 2019, Bank Leumi signed a pledge agreement with the Ma’ale Adumim Municipality for a period of 99 years (ends 2119). The bank holds the council’s current and future revenue as collateral.
Givat Ze’ev
As of July 2024, Bank Leumi has 10 active pledge agreements with the Givat Ze’ev Local Council.
In May 2023, Bank Leumi signed a pledge agreement with the Givat Ze’ev Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
In December 2019, Bank Leumi signed a pledge agreement with the Givat Ze’ev Local Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
Kiryat Arba
As of July 2024, Bank Leumi has 8 active pledge agreements with the Kiryat Arba Local Council.
In March 2023, Bank Leumi signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2123) against the council’s current and future revenue as collateral.
In August 2023, Bank Leumi signed a pledge agreement with the Kiryat Arba Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 31 July 2022, the Kiryat Arba Local Council general assembly approved opening of an account for a Torah study school at Bank Leumi.
A 2020 protocol of the general assembly meeting of Kiryat Arba local council mentions a NIS 1 million loan from Bank Leumi.
Har Hevron
As of July 2024, Bank Leumi has 6 active pledge agreements with the Har Hevron Regional Council. The Har Hevron Regional Council provides services to 20 settlements in the South Hebron Hills area in the occupied West Bank.
In 2023, Bank Leumi and Mizrahi Tefahot Bank granted loans in the amount of NIS 16 million loan to the Har Hevron Regional Council.
On 28 November 2023, the Har Hevron Regional Council general assembly approved taking a NIS 1 million loan from Bank Leumi for 2024.
In November 2023, Bank Leumi signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
On 5 September 2023, the Har Hevron Regional Council general assembly approved taking a NIS 2,983,500 loan for 15 years from Bank Leumi.
In January 2019, Bank Leumi signed a pledge agreement with the Har Hevron Regional Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
Mateh Binyamin
As of July 2024, Bank Leumi has 6 active pledge agreements with the Mateh Binyamin Regional Council. The Mateh Binyamin Regional Council provides services to 52 settlements in the occupied West Bank.
In January 2022, Bank Leumi signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years (ends 2121) against the council’s current and future revenue as collateral.
In December 2021, Bank Leumi signed a pledge agreement with the Mateh Binyamin Regional Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Beit Aryeh
As of July 2024, Bank Leumi has 6 active pledge agreements with the Beit Aryeh Local Council.
In February 2019, Bank Leumi signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2118) against the council’s current and future revenue as collateral.
In November 2012, Bank Leumi signed a pledge agreement with the Beit Aryeh Local Council for a period of 99 years (ends 2111) against the council’s current and future revenue up to the amount of NIS 1,800,000 as collateral.
Oranit
As of July 2024, Bank Leumi has 4 active pledge agreements with the Oranit Local Council.
According to the Oranit Local Council’s general assembly minutes from March 2023, the main activity of the council's funds is conducted at Bank Leumi and Mizrahi Bank.
According to the Local Council’s general assembly minutes from September 2022, Bank Leumi financed the renovation of a school in the council.
In January 2023, Bank Leumi signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
In August 2021, Bank Leumi signed a pledge agreement with the Oranit Local Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Efrat
As of July 2024, Bank Leumi has 4 active pledge agreements with the Efrat Local Council.
According to the protocol of the Efrat Council general assembly from 2021, the council has investment of NIS 15 million divided between three investment firms and three banks, including Bank Leumi.
In November 2020, Bank Leumi signed a pledge agreement with the Efrata Local Council for a period of 99 years (ends 2119) against the council’s current and future revenue as collateral.
Beitar Ilit
As of July 2024, Bank Leumi has 6 active pledge agreements with the Beitar Ilit Municipality.
In October 2003, Bank Leumi signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2102) against all the municipality's revenues from the local government treasury up to the amount of NIS 3 million as collateral.
In October 2003, Bank Leumi signed a pledge agreement with the Beitar Ilit Municipality for a period of 99 years (ends 2102) against all the municipality's current and future revenue up to the amount of NIS 3 million as collateral.
Gush Etzion
As of July 2024, Bank Leumi has 2 active pledge agreements with the Gush Etzion Regional Council. The Gush Etzion Regional Council provides services to 22 settlements in the occupied West Bank.
In June 2016, Bank Leumi signed a pledge agreement with the Gush Etzion Regional Council for a period of 99 years (ends 2115) against all the municipality's current and future revenue (with the exception of funds originating from the state budget) up to the amount of NIS 3,250,000 as collateral.
Alfei Menashe
In March 2021, Bank Leumi signed a pledge agreement with the Alfei Menashe Local Council for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
According to the council’s general assembly protocol from 2020, the council received a NIS 6,000,000 loan from the bank.
Ariel
In December 2021, Bank Leumi signed a pledge agreement with the Ariel Municipality for a period of 99 years (ends 2120) against the council’s current and future revenue as collateral.
Golan Regional Council
As of July 2024, Bank Leumi has 24 active pledge agreements with the Golan Regional Council. The Golan Regional Council includes 33 settlements in the occupied Syrian Golan.
In April and February 2023, Bank Leumi signed pledge agreements with the Golan Regional Council for a period of 99 years (ends 2122) against the council’s current and future revenue as collateral.
According to protocols of the Golan Regional Council general assembly from 2021, the Bank provided the council with a loan amounting to NIS 5,000,000 for the implementation of development projects.
A 2020 general assembly meeting protocol of the Golan Regional council mentions a request for a NIS 600,000 loan from the bank.
Mitzpe Kramim
In 2018, Bank Leumi provided mortgage loans for real estate on land privately owned by Palestinians in the illegal Israeli outpost Mitzpe Kramim in the Jordan Valley in the occupied West Bank.
Branches in Settlements
Bank Leumi operates branches and automated banking services machines in settlements in the occupied West Bank, East Jerusalem and the Syrian Golan.
These include the settlements of Ma’ale Adumim, Kiryat Arba, Modiin Ilit and Beitar Ilit in the occupied West Bank; the settlement neighborhood of Ramot Eshkol in occupied East Jerusalem; and the settlement of Katzrin in the Syrian Golan.
Bank Leumi benefits from access to the Palestinian banking market as a captive market. The bank operates a branch in Ali Iben Abu Taleb street in occupied East Jerusalem.
Ownership
The company is publicly traded on the Tel Aviv Stock Exchange under the ticker symbol LUMI.
Major shareholders include: The Phoenix Holdings Ltd. (7.37%), Clal Insurance Enterprises Holdings Ltd. (6.7%), Harel Insurance Investments & Financial Services Ltd. (6.16%), Meitav Investment House Ltd. (5.61%).
CEO: Friedman Hanan Shmuel
Chair of the Board of Directors: Ben Zvi Shmuel
Subsidiaries
Leumi Partners Ltd. (100%), Leumi Capital Market Services Ltd. (100%), Leumi Financial Holdings Ltd. (100%), Leumi UK Group (100%), Leumi Re Limited (100%), Leumi-Tech Ltd. (99.8%), Valley National Bancorp (14.2%).