On a road show to London, Bank Leumi CEO Galia Maor revealed that the bank's exposure to Israeli hi-tech had totaled NIS 860 million in 2000. That sum comprises 0.6% of the bank's credit portfolio, which totaled NIS 142 billion,
Maor set out on a road show last week ahead of Leumi's privatization.
Of the NIS 860 million, about NIS 150 million was invested in venture capital funds. As much of this sum was invested shortly before the hi-tech crash, the funds did not have the opportunity to place the capital.
Leumi's exposure to telecommunications companies totaled NIS 8.5 billion, or 6% of its credit portfolio.
Galia Maor told institutional investors in London that she believes Israeli hi-tech will continue to drive the economy upward and forward in 2001, as it did in 2000,