Bank Leumi Reports Record $3.2B Profit
Bank Leumi announced record net income of $3.2 billion for 2025, with a return on equity of 15.8%. The bank also declared an unprecedented dividend of $1.9 billion, citing responsible growth in its loan portfolio, particularly in corporate and national infrastructure lending.
The record profit follows a significant 40% jump in net income in 2024, which reached NIS 9.8 billion. This performance surpassed the NIS 7 billion net income reported for 2023. The bank's return on equity also saw a substantial increase to 16.9% in 2024, up from 13.7% in the prior year. Under the leadership of CEO Hanan Friedman, who took the helm in late 2019, Bank Leumi has focused on strategy and innovation. The bank is targeting an annual net income of NIS 9-11 billion ($2.5 - $3.0 billion) for 2025-26 and aims for a return on equity of 15-16% per year. This strong performance is set against the backdrop of a rebounding Israeli economy. After growing by 3.1% in 2025, the economy is projected to expand by a robust 4.9% to 5.2% in 2026. This outlook is supported by rising investment and a significant jump in exports. For its U.S. operations, Bank Leumi merged its subsidiary, Bank Leumi USA, with Valley National Bank in a $1.2 billion transaction completed in April 2022. As a result, Bank Leumi became the largest shareholder in the merged entity, holding over 14% of its stock and securing two seats on the board. The U.S. headquarters for Bank Leumi USA are located on Fifth Avenue in New York City.
