Leumi Awarded "Bank of the Year in Israel" by The Banker
December 2, 2018
Bank Leumi 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 fifth time in the past decade 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".