Bank Leumi to pay US authorities billion shekel in tax evasion affair

Bank Leumi reported Sunday that it is in the advances stages of negotiations with the US Department of Justice to settle a tax evasion affair – at a cost of one billion shekel.


In a follow up to financial reports released at the end of March, in which the institution reported it was conducting intensive talks with the American authorities, the bank announced that it expected to increase the allowance for the affair by 460 million shekels, bringing the total settlement to near 950 million shekel. (Elitsafan Rosenberg)