London remains a “significant global financial centre” even after Brexit, according to the UK arm of the Israeli financial institution Bank Leumi.

At a Rosh Hashanah party for the bank’s clients, partners and associates on Wednesday night, Eli Katzav, CEO of Bank Leumi (UK), underlined the continued importance of the British capital as a financial centre in the world.

Following the referendum on EU membership in June, Mr Katzav told the 400-strong crowd that he firmly believes “in the strength of the UK economy”.

“London will continue to be a significant global financial centre, even after Article 50 is triggered and a new agreement with the EU achieved,” he added.

Far from deciding to leave, Bank Leumi has chosen to stay put during this period of uncertainty.

Like everyone else, we are watching the situation closely, but Bank Leumi has made a conscious decision not to make any policy changes until the outcome of the EU exit is clear

Mr Katzav said: “Like everyone else, we are watching the situation closely, but Bank Leumi has made a conscious decision not to make any policy changes until the outcome of the EU exit is clear.

Mr Katzav paid tribute to Shimon Peres, saying that he was recognised as a great leader and will be remembered for his optimism, determination and hopes for peace and a better future.

Bank Leumi (UK) plc has established a reputation as one of the leading foreign-owned banks in London. Mr Katzav announced that its new online banking platform, LeumiLink, will be shortly be launched.