Bank Hapoalim will increase the amount of the provision for their assistance to custommers how ro evade taxes

Bank Hapoalim reports to the stock exchange that it is expected to record a material provision in its financial reports for 2018. The investigation against Bank Hapoalim deals with tax advice provided by the Bank's branch in the US to American customers, Tax from local authorities. The US authorities led by the Ministry of Justice determined that this conduct was clearly contrary to the rules required and therefore an investigation was launched against the Bank.
According to the report to the Stock Exchange, in recent weeks the Bank has continued to hold talks with the US Department of Justice, in the framework of which discussions have begun regarding the methodology for calculating the amounts that the Bank will be required to pay in the framework of a possible arrangement. As a result, and on the basis of additional data collected and processed during this period by the Bank, Hapoalim notes that it is expected to increase the amount of the provision in the financial statements by NIS 922 million, so that the total provision is expected to stand at NIS 2.2 billion.
The bank stresses that the investigations of the American authorities are still ongoing and no final agreement has been reached with them.