Citi Fun 29 Regulatory News (AD49)

4 Mar 2008 14:33

Leumi International Investments NV04 March 2008 BANK LEUMI LE-ISRAEL B.M. - (GUARANTOR - GUARANTEED EURO MEDIUM TERM NOTE PROGRAMME OF LEUMI INTERNATIONAL INVESTMENTS N.V.) Translation of Immediate Report Bank Leumi le-Israel B.M. Registration No. 520018078 Securities of the Corporation are listed on The Tel Aviv Stock Exchange Abbreviated Name: Leumi Leumi House, 34 Yehuda Halevi Street, Tel Aviv 65546 Phone: + 972 3 5148111, + 972 3 5149419; Facsimile: + 972 3 5149732 Electronic Mail: jennifer@bll.co.il 4 March 2008 To: Israel Securities Authority (www.isa.gov.il) The Tel Aviv Stock Exchange (www.tase.co.il) Immediate Report Nature of the Event: Financial Statements - Bank Leumi UK Bank Leumi le-Israel B.M. announces that a subsidiary of the Bank, Bank Leumi(UK) plc approved its financial statements for 2007. See attached Notice in this regard Date and time at which the corporation first became aware of the event ormatter: 4 March 2008 at 14:45.________________________________________________________________ Name of Electronic Reporter: Jennifer Janes, Position: Executive Vice President,Group Secretary POB 2 Tel Aviv 61000, Phone: + 972 3 5149419, Facsimile: + 972 3 5149732, Electronic Mail: jennifer@bll.co.il PRESS RELEASE BANK LEUMI (UK) PLC BANK LEUMI (UK) ANNOUNCES ANOTHER YEAR OF GROWTH IN 2007 London, 26th February 2008 Bank Leumi (UK) today announced its results for 2007. In a year of continued growth for the Bank, total assets rose by 11% to £1.4billion. For the first time, lending to customers reached £1 billion compared with £0.8billion in the previous year (+28%), and customer deposits increased to £1.2billion compared with £1 billion for 2006 (+14%). Profit on ordinary activities before tax reached £16.9 million and the pre-taxreturn on equity for 2007 amounted to 20% compared with 16.7% in 2006. Post-tax profit for the 2007 financial year amounted to £12.1 million and theBank's key performance indicator, the net return on capital employed, improvedto 14.3% compared with 11.5% in 2006. Although there is a decrease of 4% in post-tax profit as against the previousyear these results are not comparable due to the change in capital structure andthe resulting effect of the additional interest paid on loan capital in 2007.Putting the results on the same footing for both years would result in ayear-on-year increase in post-tax profit of 7%. Highlights of the year include: •Significant growth in Commercial and Corporate Banking. •Continued strong returns from commodity finance and property finance activities including broadening the activities in Western Europe. •Increasing business with Israeli corporates investing in the UK and Europe. •The first full year and establishment in the market place of the Invoice Discounting and Factoring subsidiary, Leumi ABL Ltd, broadening the scope of the Bank's commercial lending activity. •Restructuring and refocusing of the Bank's Private Banking and Wealth Management division. •Restructuring the capital resources of the Bank. Commenting on the 2007 results Miki Friedman, Managing Director & CEO said: "Since my arrival at Bank Leumi UK in October 2007 I have been impressed by theprofessionalism and energy of my staff. They are to be congratulated onachieving such excellent results against a background of widespread turmoil inthe international credit markets and economic uncertainty at home and abroad. My objective in the coming years is to build on the firm foundations for growthlaid by my predecessor, Baruch Lederman, and to continue to provide ourcustomers with the first class service they have come to expect from Bank Leumi(UK)." - END - Note to Editors Bank Leumi (UK) provides financial services to UK and International clientsthrough its Head Office in London, Northern branch based in Manchester, OffshoreBanking and Trust subsidiaries in Jersey, and its Factoring and InvoiceDiscounting subsidiary in Brighton. The Bank's main areas of activity include trade finance, with a particularexpertise in financing cross border trading in commodities and financing tradewith Israel; commercial and residential property finance in the UK; providinggeneral commercial finance to a wide range of businesses and the financing ofthe media sector, particularly film and television production, where the Bankhas extensive experience. The Bank also specialises in UK and InternationalPrivate Banking and Wealth Management. Private Banking Relationship Managersoffer advisory investment management services as well as an extensive choice ofdeposits and investment accounts including structured products. Working closelywith the Bank's Treasury Department, services such as foreign exchange, moneymarket and derivatives for hedging purposes are also provided. Bank Leumi (UK) is a subsidiary of the Bank Leumi le-Israel Group which hasassets in excess of $60 billion. The group has a dominant share of the domesticIsraeli banking market and the largest overseas network of any Israeli bank,with more than 50 offices in 20 countries around the world. Bank Leumi (UK) continues its policy of "Relationship Banking" aiming to provideall of its customers with the highest quality service. For further information, please contact: Moshe Langerman mlangerman@bankleumi.co.uk 020 7907 8031 www.bankleumi.co.uk This information is provided by RNS The company news service from the London Stock Exchange