Bank Leumi chairman David Brodet: I believe that it will be shown that Bank Leumi acted properly to get back most of its money.
Bank Leumi (TASE: LUMI) may have suspended the pending debt settlement with Nochi Dankner, but chairman David Brodet believes that the settlement will be approved after the review by the Bank of Israel. He said, "I believe that the settlement with Dankner will eventually go ahead. We take into account and are attentive to the public outcry. We're waiting for the review by the Supervisor of Banks, and I believe that it will be shown that Bank Leumi acted properly to get back most of its money," he told “IDF Radio" (Galei Zahal) today.
Yesterday's announcement by Bank Leumi that it would write off NIS 150 million of the NIS 450 million owed it by Ganden Investments Ltd., through which Nochi Dankner controls IDB Holding Corp. Ltd. (TASE:IDBH), caused public furor. The Bank of Israel announced that Supervisor of Banks David Zaken would review the proposed settlement at the request of Minister of Finance Yair Lapid and Labor Party chairwoman MK Shelly Yachimovich.
Published by Globes [online], Israel business news - www.globes-online.com - on April 18, 2013
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