Bank Leumi Le-Israel Ltd, Israel’s second-largest bank, is expected to reach an agreement with the US to settle the charges of having helped wealthy Americans to evade taxes. The agreement will include a fine of 1.4bn shekels ($356m) reports Bloomberg from its sources.

When reporting its earnings, Bank Leumi said that it set aside an additional 476m shekels in Q3 amounting to a total of about 1.5bn shekels for a settlement with the U.S.

Last month, a person with knowledge of the matter said Leumi is close to a $400 million settlement. Under the proposed agreement, Bank Leumi would pay about $270m to the US Justice Department (DoJ) and $130m to New York’s Department of Financial Services.

Hapoalim, Israel’s largest bank, and Mizrahi-Tefahot Bank Ltd, the fourth largest, are also being investigated.