Leumi to Reclaim Bonuses From Executives After U.S. Tax Fine

Updated on
  • Bank will receive $93 million in agreed compensation
  • Two more Israeli banks have made provisions for fines

An independent panel appointed by Bank Leumi Le-Israel Ltd. recommended that a former chairman and chief executive officer both return bonuses after the lender agreed to pay a fine to U.S. authorities in a tax probe. An insurer for the former bank officials will pay an additional $92 million.

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