Bank Leumi CEO Admits "Serious Failure" in Account Opening Process

Hanan Friedman, the CEO of Bank Leumi, has acknowledged a significant failing in the bank's procedures, specifically concerning the process for small companies to open corporate accounts. In response to a customer's query on the social media platform X, Friedman admitted that the requirement for businesses to physically visit a branch to open a limited liability company (LLC) account in 2026 is a "serious failure." He apologized for the inconvenience this has caused.

Friedman announced that Bank Leumi intends to rectify this issue by the end of 2026, enabling full digital account opening for medium and large companies, a service already available for private accounts. This change will streamline the process for small business owners who currently must visit a branch, a requirement Friedman himself criticized.

The CEO's direct engagement on X, which he recently joined to foster open communication with the public, has quickly gained traction. His presence has been described by some users as the bank's best advertisement in a decade, surpassing expensive celebrity endorsements. Friedman stated his intention was not to launch a marketing campaign but to engage directly with customers, expressing surprise at the level of attention his activity has garnered.

This commitment to digital transformation for corporate accounts represents a test for Bank Leumi. Following Friedman's public admission of the "serious failure" and his setting of a clear deadline, customers will be watching to see if the bank fully implements the digital account opening process for businesses within the stipulated timeframe.