Banks Setting Aside NIS 400 Million for Fishman Debt in 4Q

Big provisions come as value of tycoon’s Russian real estate assets plummet; Israeli lenders have so far set aside about 60% of the value of his loans - between 2.7 billion and 3 billion shekels.

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Provisions Israel’s banks will be taking against the possibility that entrepreneur and investor Eliezer Fishman becomes overwhelmed by debt may reach 400 million shekels ($100.4 million) in the fourth quarter...