Bank Leumi (Hebrew: בנק לאומי, lit. National Bank) is an Israeli bank. It was founded in London as the Anglo Palestine Company on February 27, 1902 by members of the Zionist movement to promote the industry, construction, agriculture, and infrastructure of Palestine.
Bank Leumi was founded at the Second Zionist Congress and incorporated in London in 1899 as the financial instrument of the Zionist Organization. The initial capital raised - a tota...
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Bank Leumi (Hebrew: בנק לאומי, lit. National Bank) is an Israeli bank. It was founded in London as the Anglo Palestine Company on February 27, 1902 by members of the Zionist movement to promote the industry, construction, agriculture, and infrastructure of Palestine.
Bank Leumi was founded at the Second Zionist Congress and incorporated in London in 1899 as the financial instrument of the Zionist Organization. The initial capital raised - a total of £395,000 - fell far short of the £8 million target, Nahum Sokolow in 1919 writes: "The British East Africa Company, which administered 200,000 square miles, began with the same amount £250,000." The bank's activities in Palestine were carried out by the Anglo-Palestine Bank, a subsidiary formed in 1902. The bank opened its first branch in Jaffa in 1903 under the management of Zalman David Levontin. Early transactions included land purchase, imports and obtaining concessions. Branches were opened in Jerusalem, Beirut, Hebron, Safed, Haifa,...
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