Leumi Sees Loss From Tax Probe

The bank, led by CEO Rakefet Russak-Aminoach, said the quarterly loss would likely trim its annual profit down to NIS 1.09 billion in 2012, a 42% drop.

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Bank Leumi said on Monday that it would be setting aside NIS 340 million for the fourth-quarter of 2012 against potential costs from a U.S. tax probe, leaving it with a loss of about NIS 100 million.