An Israeli commercial bank.
In 2022, Bank Leumi granted the Israeli company Breeza Bagiva’a 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 the Israeli company N. Nathanel 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 the company Dafnit for a construction project in Beitar Ilit, according to plan no. 31\1\426.
In 2021, Ban Leumi granted a loan for the company Mivneh’s lots in 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:
Bank Leumi financed the establishment of Design City shopping complex with NIS 250 million. Opened in July 2021 in Mishor Adumim settlement industrial zone, Design City shopping mall is described as a “revolution for the inhabitants of Greater Jerusalem,” and promises to be a major engine of regional economic development, creating thousands of jobs. However, as outlined in a recently published Who Profits update Design City amplifies the role of private companies in implementing Israeli political policies to entrench and normalize control of occupied land, bringing to life the complete integration and connectivity between Israeli-constructed residential and commercial areas on both sides of the Green Line at the direct expense of Palestinian dispossession and fragmentation.
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 2017, Who Profits documented the vast involvement of the bank in settlement construction. The report has shown that the bank accompanied construction projects in the following settlements: Alfei Menashe, Givat Ze’ev, Pisgat Ze’ev and Ma’aleh Adumim. Some of the projects were constructed by companies profiled on our database, such as Bardarian Brothers and Amos Hadar. Click here to read the full report about the involvement of the Israeli banks in the settlement enterprise from February 2017.
In addition to the Bank’s broad involvement in financing settlement construction,
In 2021, it was reported that Bank Leumi will invest in Ya’acobi Brothers` smart traffic lights, through a NIS 50 million loan. Through its subsidiary, Ariel Wimazor, the company reached an agreement with Shapir and CAF (the companies upgrading the JLR), by which it would maintain and upgrade the traffic lights network of the project.
Services and loans to settlement local and regional councils:
According to a 2021 general assembly meeting protocol of the occupied Golan Regional council, the Bank provided the council with a loan amounting to NIS 5,000,000 for the implementation of development projects.
A 2020 protocol of the general assembly meeting of the Efrat settlement local council notes an investment of NIS 15 million divided between three investment firms and three banks, including Leumi Bank, Hapoalim Bank and Mizrahi Tefahot bank.
A2020 general meeting assembly protocol of Alfei Menashe settlement local council notes the provision of a NIS 6,000,000 loan by the bank.
A 2020protocol of the general assembly meeting of Kiryat Arba local council mentions a NIS 1 million loan from Leumi Bank.
A 2020 general assembly meeting protocol of the Golan Regional council mentions asking a NIS 600,000 loan from Leumi Bank.
Moreover, the bank holds long term agreements with a number of settlements.
Leumi Bank holds a 99-year agreement (ends in 2097) with the local council of Givat Ze’ev. The bank holds a collateral all of the council’s revenues.
Leumi Bank holds a 99-year agreement (ends in 2101) with the local council of Givat Ze’ev. The bank holds as collateral the council’s revenues generated from the council’s treasury.
Leumi Bank holds a 99-year agreement (ends in 2102) with the local council of Givat Ze’ev. The bank holds as collateral the council’s revenues that reach NIS 2,000,000.
Leumi Bank holds a 99-year agreement (ends in 2112) with Ma’ale Adumim municipality. The bank holds as collateral the municipality’s funds, except ones received from water and sewage, in a sum limited to NIS 8,000,000.
In 2017, Who Profits documented the vast involvement of the bank in providing services to settlement local and regional councils. The report has shown that provided services the following settlements: Gush Etzion regional council and Mateh Binyamin regional council. Click here to read the full report about the involvement of the Israeli banks in the settlement enterprise from February 2017.
Branches in settlements:
The bank operates branches in the following settlements: Ma’aleh Adumim, Kiryat Arba, Beitar Ilit and Modi’in Ilit in the occupied West Bank, in Ramat Eshkol settlement neighborhood in occupied East Jerusalem and in the settlement of Katzrin in the occupied Syrian Golan.
Leumi Bank benefits from access to the Palestinian monetary market as a captive market. It operates a branch in Ali Bin Abi Taleb Street in East Jerusalem.
Involvement through subsidiaries:
Through Leumi Partners, the bank owns 20% of the shares of Taavura Holdings, a company with a large portfolio of involvement in the occupation. See here company profile of Taavura Holdings on our database
Publicly traded on TASE under the ticker symbol LUM.
Major shareholders: Menorah Mivtachim Holdings Ltd. (4.89%); Clal Holdings Ltd. (4.48%); Azrieli Group (3.13%); Altshuler Shaham (3.87%); Migdal Group (4.9%); Psagot Investment House Ltd. (4.06%); Balckrock Inc. (3.33%); The Vanguard Group (2.84%); Lazard Asset Management LLC (2.88%).
Chairman of board of directors- Samer Haj Yehia
CEO- Hanan Friedman
Leumi Partners Ltd. (100%); Leumi-Tech Ltd. (99.8%); Leumi Capital Market Services Ltd. (100%); Bank Leumi Israel Corporation (84.7%); Bank Leumi USA (84.6%); Bank Leumi Britain P.L.C. (100%); Leumi Re Limited (100%); Or Shay G.S. (20%); Leumi Real Holdings Ltd. (100%); Plazit Industries Agri. Coop. Soc. Ltd (20%); Nilit B.V. (20%); New Lineo Cinema (2006) Ltd. (16.67%); Taavura Holdings Ltd. (20%); Mini Line Ltd. (20%); Tene Investment in Gadot (20%); Alum Eshet (Oman) Ltd. (20%); Sunflower Sustainable Investments Ltd. (20%); Team 3 Management and Investments 1997 Ltd. (20%); Tera Light Ltd. (15.27%); Essence Infrastructure and Construction (20%).
All the information contained in this page is valid until Wed 09/03/2022
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