JERUSALEM, March 19 Bank Hapoalim,
Israel's largest lender, said on Tuesday it will record a charge
of 440 million shekels ($127 million) in its 2013 financial
results as part of a multi-year efficiency drive.
Hapoalim, which will report fourth-quarter results on
Thursday, said that as part of the plan, it will offer early
retirement packages to several hundred employees and also
"Even after this expense, the bank's fourth-quarter results
are expected to be similar to results in the first three
quarters of the year," Hapoalim said in a statement to the Tel
Aviv Stock Exchange.
The bank earned 653 million shekels in the third quarter.
($1 = 3.4606 Israeli Shekels)
(Reporting by Steven Scheer)