Israel's Bank Leumi Issues Profit Warning for Q4 Over Provision for U.S. Tax Probe

Following allegations that the Israeli bank actively helped American customers to evade U.S. taxes, leading it to provision NIS 340 million, Leumi is expected to post a loss of NIS 100 million.

comments Print
An ongoing investigation by the U.S. Internal Revenue Service into allegations that Bank Leumi actively helped American customers to evade U.S. taxes has led the bank to provision NIS 340 million to cover...