The Israeli bank is in talks to sell Leumi Jersey and Leumi Overseas Trust.
Bank Leumi is in talks to sell Leumi Jersey - owned by its subsidiary Bank Leumi UK. The Israeli bank is also seeking to sell Leumi UK subsidiary, Leumi Overseas Trust.
In a report to the exchange, Leumi noted that Leumi Jersey and Leumi Overseas Trust's operations are minimal and are not significant in relation to the overall operations of the banking group.
Leumi said its talks are part of the group's policy to reduce their operations outside of Israel in the private banking field.
The Israeli company said the talks were in early stages, and that it was too early to tell if they will mature and what their value would be. Nevertheless, whether a deal is agreed or not, Leumi does not believe it will have a meaningful impact on its financial layouts.
Published by Globes [online], Israel business news - www.globes-online.com - on October 26, 2015
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