Hapoalim: Having received the supervisor of bank's response, the board of directors regrets his stand and again asks him to arrange an urgent meeting.
Bank Hapoalim (LSE: 80OA; TASE: POLI) today reported that Supervisor of Banks Rony Hizkiyahu declined its request to meet its board of directors.
A statement from the bank said, "In response to the board's request to the supervisor of banks to arrange an urgent meeting following publicity about the functioning of the board and the chairman, the supervisor of banks informed us on May 6 that although he sees great importance in strengthening the connection and the dialogue between the supervisor of banks and the bank's board, he does not see the urgency in such a meeting."
The bank added, "The supervisor also mentioned that the board of directors has the right to file their comments and observations to the supervisor's letter dated April 27 in which he demanded that the defects set out be amended."
The bank continued, "Having received the supervisor of bank's response, the board of directors regrets his stand and again asks him to arrange an urgent meeting."
Published by Globes [online], Israel business news - www.globes-online.com - on May 10, 2009
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