www.bethelfinance.com
The Bank of Israel today announced that Bank Hapoalim (TASE: POLI) CEO Zion Kenan can keep his job, after the State Prosecutor decided to close the case against him, due to lack of evidence. After reviewing the findings of the investigation and other relevant material, Supervisor of Banks David Zaken concluded that there was no reason to change Kenan's position.
Nonetheless, Zaken found flaws in Bank Hapoalim's approval of credit to then-chairman Dan Dankner, when Kenan served as head of the bank's corporate division. In that capacity, Kenan was responsible for submitting Dankner's requests to the board of directors. Zaken reprimanded Kenan on this point.
In October 2010, Bank Hapoalim fixed the flaws and updated its procedures to reflect the Bank of Israel's proper banking procedures for the approval and granting of credit to affiliated parties.
Bank Hapoalim said in response, "The supervisor's announcement brings this matter to a close. The bank will naturally continue to meticulously fulfill all orders of the banking supervisor. The bank will promote its business in line with its strategic plans under the leadership of chairman Yair Seroussi and CEO Zion Kenan."
No comments:
Post a Comment