The bank will make the write-off in its second quarter report, to be released on Wednesday.
Bank Leumi (TASE: LUMI) will make a pretax write off of NIS 82 million against synthetic collaterized debt obligations. The net provision after tax will total NIS 52 million.
Bank Leumi will post the write-off in its second quarter financial report which will be released on Wednesday. The bank said in its announcement to the Tel Aviv Stock Exchange (TASE) today that the sum was "immaterial."
Published by Globes [online], Israel business news - www.globes-online.com - on August 25, 2008
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