Israeli lender Bank Leumi is in talks to sell its Jersey unit, which is owned by its subsidiary Bank Leumi UK.
Additionally, the bank is also looking to offload Leumi Overseas Trust, a unit of Bank Leumi Jersey.
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According to the bank, the talks form part of the group’s policy to reduce private banking operations outside of Israel.
The talks are in early stages, and hence the value of the deal or whether they will even materialise cannot be determined. The bank has also not named any potential buyer yet.
The Israeli lender further stated that the operations of these two businesses are not significant in relation to the overall operations of the bank, and a sale, if materialised, will have little material impact on its financial layouts.
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