Bank Hapoalim - Israeli Group Of Controlling Shareholders Want Huge Dividend Distributed.

Bank Hapoalim had a net profit in 1997 of NIS 1 billion. In the first quarter of 1998 the bank had NIS 277 million in profits and about NIS 300 million profits in the second quarter. All of these profits do not include extraordinary income from the sale of companies like Delek Israel Fuel Corporation that the bank has been forced to sell by Government regulators. The Israeli based group within the controlling shareholders of the bank, wishing to pay back some of the loans they took out to finance their purchase of Bank Hapoalim from the State, have been pressing hard to have the boa