Monday, April 28, 2008

The prestigious magazine, Global Finance has chosen Leumi as one of the best banks in the Developed Markets for 2008

Leumi continues to capture international awards. After its recent selection as “Bank of the Year in Israel for 2007,” by the magazine, The Banker, from the Financial Times group, the magazine, Global Finance has chosen it as one of the best banks in the developed markets for 2008.
The magazine has released the names of the 27 banks throughout the world that earned this award in a press announcement in New York. Leumi is the only Israeli bank included in this respected list. A full report on the selection will be featured in the April issue of the magazine. In a press release, the magazine reported, “This year, the award-winning banks were attentive to their customers needs and attained superb results while laying the foundations for future success.”

The Global Finance editors selected the banks after comprehensive consultations with global bankers, financial managers and analysts. When selecting the banks, both objective factors, such as increasing the volume of assets, profitability, geographical extent of operations, strategic relationships, new business development and product innovation and subjective information, including opinions expressed by capital market experts, credit rating experts and banking and other advisers were considered.

Global Finance publisher, Joseph D. Gitapoto said that the banks were selected because of their superb achievements. “While global finance markets are difficult and the conditions in each market could be different, the winning banks are all commendable because of their commitment to providing solutions to customer requirements.”
The winning banks include:

US – J.P. Morgan Chase, Canada – RBC, Hong Kong – HSBC, Singapore – DBS, Japan – Sumitomo Mitsui Financial Group, Holland – ING, Germany – Deutsche Bank, France – BNP Paribas, Italy – UniCredit and Switzerland – Credit Suisse.

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