The Israeli banking sector will benefit from a solid economic recovery, which should help to contain the pandemic's impact on the sector's profitability and asset quality. We expect Bank Leumi le-Israel B.M.'s (Leumi's) solid asset quality and capitalization will continue to support our ratings on the bank. We therefore affirmed our 'A/A-1' long- and short-term issuer credit ratings on Bank Leumi. The outlook remains stable, reflecting our view that the bank's business, financial and risk profile will remain stable over the next two years, supported by economic recovery and the banking sector's resilience to the pandemic-related stress. On July 20, 2021, S&P Global Ratings affirmed its 'A/A-1' long- and short-term issuer credit ratings on Bank Leumi le-Israel B.M. (Leumi). The
