Bank Leumi (TASE: LUMI) has postponed the publication of its financial report to the end of the month. Sources inform ''Globes'' that the bank reached an agreement with the Bank of Israel to obtain an exemption from early publication of the financial report because of the need to include the results of Israel Corporation (TASE: ILCO). Bank Leumi owns 18% of Israel Corp., which will only publish its financial report at the end of the month.
Bank Leumi was due to publish its financial report on Thursday, at the same time as Bank Hapoalim (TASE: POLI), but will postpone publication until the end of March because of the need to include the results of Israel Corp.
Supervisor of Banks David Zaken recently established a staggered schedule for early publication of the banks' financial reports. The annual report will be published by the end of February, instead of the end of March, and the quarterly report will be published two weeks earlier. The early publication will be staggered to allow the banks to prepare, and this year, they must bring forward the publication of their annual reports by ten days.
Israel Discount Bank (TASE: DSCT) and First International Bank of Israel (TASE: FTIN) will publish their financial reports on Wednesday, and Bank Hapoalim on Thursday. Beginning with the financial reports for the first quarter of 2014, which will be published in May, Bank Leumi will join the other banks and bring forward the publication date.
Published by Globes [online], Israel business news - www.globes-online.com - on March 17, 2014
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