Leumi named Israel's top bank

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International banking magazine The Banker has picked Leumi in three out of the past four years.

For the third time in four years, Bank Leumi (TASE: LUMI) has been named as Israel's "bank of the year" by international banking magazine, The Banker.

The Banker is a part of the Financial Times Group. Among the reasons for choosing it as Israel's leading bank for 2010, the magazine cited Leumi's stability, profitability over time and its high capital adequacy.

Leumi CEO Galia Maor said, "We manage the Bank with a view to the long-term, a commitment to looking after our depositors' money and to the interests of all connected with the Bank, its shareholders, customers and employees. This strategy has been proved correct even during times of crisis and we are committed to its careful implementation in the years ahead as well."

Published by Globes [online], Israel business news - www.globes-online.com - on December 9, 2010