Leumi Awarded 'Bank of the Year in Israel' by The Banker

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Nov 30, 2018, 06:00 ET

TEL AVIV , Israel, November 30, 2018 /PRNewswire/ --

Bank Leumi (TASE: LUMI) has been awarded 'Bank of the Year in Israel for 2018' by the prestigious magazine 'The Banker', part of the Financial Times Group. This is the seventh time that Leumi has won the distinguished title. Leumi was selected by a professional panel of judges who examined the Bank's financial results, business achievements, investment in technology and overall strategy.

The magazine praised Leumi for its strong results and leadership in the innovation field, becoming the first lender in Israel to offer online mortgage applications, known as 'Digital Mortgage'. The offering allows customers to seek a pre-mortgage qualification through a PC or mobile, after which authorization is granted within a single work day. The Banker also noted Leumi's first of its kind fully-mobile bank 'Pepper', which was launched in mid-2017 and is recording a gradual growth in activity volume.

Leumi President & CEO, Rakefet Russak-Aminoach: "We are truly honored by this recognition. Leumi's success is mainly attributed to three factors: Leading digital transformation in Israeli banking through innovative products and solutions such as 'Digital Mortgage' and our pioneering mobile-only bank - 'Pepper', tailored to Millennials; maintaining the highest quality credit portfolio in the Israeli banking industry based on a strict risk management policy; and a multi-year streamlining process which includes an in-depth organizational restructure as well as the establishment of a dedicated Operations Division."

About Leumi

Bank Leumi (TASE: LUMI) is a leading financial corporation in Israel, providing comprehensive banking services and holding an approximate 30% domestic market share. Headquartered in Tel Aviv, Leumi has a presence in key financial centers across the globe, including the United States and the United Kingdom. In 2017, Leumi reported a net profit of NIS 3.2 billion ($922 million) with total assets under management reaching NIS 1,425 billion ($411 billion). Leumi is leading the way for innovation in global banking. Today, 'Leumi Digital' spearheads the digital banking field in Israel, with a wide range of innovative services based on cutting-edge technology. Leumi was the first financial organisation in Israel, and one of the few in the world, to implement cloud computing technology several years ago, in addition to establishing a Digital Banking Division and appointing a Chief Digital Officer (CDO). Leumi is the first and only Israeli bank to launch a standalone fully-mobile bank - 'Pepper'.

For further details:
Lee Neumann, Global Spokesperson
+972-76-885-6313
[email protected]

SOURCE Bank Leumi