IDB Holding Reports NIS 960m Loss for 2012

Nochi Dankner's group embarks on cuts to expenses seen as extravagant.

Nochi Dankner's IDB Holding, the publicly-traded company at the top of the IDB group's corporate pyramid, finished 2012 with a loss of NIS 960 million attributed to shareholders. For the fourth quarter of 2012, however, it reported a net profit of NIS 13 million.