Anglo-Palestine Company Ltd.

Anglo-Palestine Company Ltd.

The Anglo-Palestine Company was a bank founded in 1902 in Jaffa, as a subsidiary of the Jewish Colonial Trust, formed before in London by members of the Zionist movement to promote the industry, construction, agriculture, and infrastructure of the land hoped to ultimately become Israel.

The Anglo-Palestine Company’s early activities in Palestine included land purchase, imports and obtaining concessions. Branches were later opened in Jerusalem, Beirut, Hebron, Safed, Haifa, Tiberias and Gaza. The Bank offered farmers long-term loans and provided loans to the Ahuzat Bayit association which built the first neighbourhood in Tel Aviv.

In 1932 the Anglo-Palestine main branch was moved from Jaffa to Jerusalem. During the Second World War, the Bank helped to finance the establishment of industries that manufactured supplies for the British army. After the founding of the State of Israel, the Bank won the concession to issue new banknotes.

In 1950 the Anglo-Palestine Company was renamed Bank Leumi Le-Israel (National Bank of Israel). When the Bank of Israel was established in 1954, Bank Leumi became a commercial bank and currently it is Israel’s largest bank.