Israeli lender Bank Leumi, part of Leumi Group, is reportedly set to venture into the P2P (peer-to-peer) loan market.

The lender is also looking to promote the platform overseas, as the platform being technological does not require the opening of branches or capital, Israeli financial daily Globes reported.

Also, the bank will not provide the loans from its own sources, the report says.

P2P loan service allows lending money to unrelated individuals, without going through a traditional financial intermediary such as a bank or other traditional financial institution.

In April 2015, the bank launched LeumiTech in New York, which offers financial products and services to Israeli high-tech companies operating in the US or those with an Israeli connection through Bank Leumi USA.

The Leumi Group has total of over $314bn assets under management with aims to drive Israel’s economic and industrial development.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.