Leumi to Become Biggest Israeli Bank in Switzerland, Agefi Says

Bank Leumi Le-Israel Ltd.’s agreement to purchase of Banque Safdie SA will create a private bank managing assets of 11.4 billion Swiss francs ($11.8 billion), L’Agefi reported, without saying where it got the information.

That will make Leumi the biggest Israeli bank in Switzerland, the newspaper said. Leumi agreed to buy Geneva- based Safdie for 177 million francs on Feb. 10.

To contact the reporter on this story: Warren Giles in Geneva at wgiles@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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