Bank Leumi Le-Israel, on of the 14 category 1 bank, is said to be closer to settling its US tax dispute regarding undeclared US accounts.

For this purpose it has set aside $275m (950m shekels) and mentioned that the increase of the provision by 460m shekels will hurt its quarterly profits.

According to information collected by Bloomberg, it this stage it is still unclear whether the outcome will be a deferred-prosecution or a non-prosecution agreement.

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