Jewish Colonial Trust
The Jewish Colonial Trust (Jüdische Kolonialbank) Limited was founded at the Second Zionist Congress and incorporated in London in 1899 as the financial instrument of the Zionist Organization. The bank’s activities in Palestine were carried out by the Anglo-Palestine Bank, a subsidiary formed on February 27th 1902 and registered in England. The bank opened its first branch in Jaffa in 1903 under the management of Zalman David Levontin. Early transactions included land acquisition, imports and obtaining concessions. Branches were opened in Jerusalem, Beirut, Hebron, Safed, Haifa, Tiberias and Gaza. Shortly after the seizure of Palestine in 1948 by Jewish terrorists the bank 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.