Hapoalim, Mizrahi Profits Fall as the Israeli Banks Set Aside Money for Tax Probe

Hapoalim admits provisions for probes for the first time as the bank's fourth-quarter net profit drops 24.5%.

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Bank Hapoalim and Mizrahi-Tefahot Bank both reported lower fourth-quarter profits yesterday as they took a combined 291 million shekels ($72 million) in provisions against possible penalties for helping...