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Leumi Reports a NIS 3.3 Billion ($880 Million) Net Income and 9.5% Return on Equity in 2018
Posted on Thursday March 07, 2019
Net income in 2018 totaled NIS 3,257 million ($869 million), compared with NIS 3,172 million ($846 million) in the same period last year - a 2.7% year-over-year increase. Return on equity in 2018 was 9.5%, compared with 9.3% in the same period last year, net of one-time effects. The net income in 2017 was materially affected by the sale of a building in Q4 and by one-time salary expenses.
Bank Leumi to Report Fourth-Quarter and Full Year 2018 Results on March 7, 2019
Posted on Thursday February 28, 2019
TEL AVIV, Israel , Feb. 28, 2019 /PRNewswire/ -- Bank Leumi (TASE: LUMI) announced today that it will release its fourth-quarter and Full Year 2018 financial results on Thursday, March 7, 2019 . Ms. Rakefet ...
Warburg Pincus brings in strategic partners for Israel's Leumi Card
Posted on Monday February 25, 2019
U.S. private equity firm Warburg Pincus completed its acquisition of Israeli Bank Leumi's credit card business on Monday and said it was bringing in three strategic partners. Leumi, which owned 80 percent of Leumi Card, and property developer Azrieli Group, which held the rest, announced in July they had agreed to sell the business to Warburg Pincus for 2.5 billion shekels ($700 million), subject to regulatory approval. The Bank of Israel granted a permit to control the business last week.
Israel's Leumi to complete sale of credit card unit February 26
Posted on Saturday February 16, 2019
Israel's Bank Leumi said on Sunday it would complete the sale of its credit card unit to U.S. private equity firm Warburg Pincus on Feb. 26. Leumi, which owns 80 percent of Leumi Card, and property developer Azrieli Group, which holds 20 percent, announced in July they had agreed to sell the business to the Warburg Pincus for 2.5 billion shekels (535.95 million pounds), subject to regulatory approval, receipt of which had held up the deal by a number of weeks.