Thousands of worried Israelis have been following the troubles of Trade Bank - a small concern swamped by a NIS 250 million embezzlement. On Friday the Bank of Israel closed it for ten days.
Bank Leumi has no intention to cancel the debts owed by the cable company Tevel, the bank said yesterday.
In the mid-1990s, when the Brodet Committee recommended that the banks be forced to give up control in functioning enterprises, no one could have imagined that a new and no less complex problem of a different kind would arise.
Samet credited with car insurance reforms and shaking up pension funds.
The Finance Ministry's internal committee charged with reviewing issues related to the privatization of Bank Leumi is likely to advise that the Migdal Insurance company not be allowed to acquire a controling stake in the bank.
At the end of the month, Tsippi Samet, supervisor of the capital markets, insurance and savings at the Finance Ministry, will complete her term of office after four years and three months.
The flood of economic events resulting from the difficult security situation leaves no room for doubt: the economy is worsening, and at this stage it is difficult to see when things will stabilize, not to say recover.
Bank Hapoalim is negotiating with the Supervisor of Banks a long-term spread of its provisions for specific debts that it is required to pay for excess credit to controlling shareholders in the bank.
The most frightening item in the financial reports of the two biggest banks, Hapoalim and Leumi, was the speed: The speed with which the billions lent to the telecommunications sector passed to the problematic loan category.
At the beginning of the month, the finance minister appointed a committee headed by the treasury's director-general, Ohad Marani, to review the implications of selling the state's shares holding in Bank Leumi via the stock exchange.