Brazil: Israeli banks close offices in Sao Paulo

By JPOST.COM STAFF
December 12, 2005 02:00

Bank Hapoalim and Bank Leumi have temporarily closed their offices in Sao Paulo, Brazil, in recent days due to a Brazilian police investigation. No details were given on the nature of the investigation. Bank Leumi told Israel Radio that the bank planned on reopening its office within a few days and believed that the investigation would not affect the activities of the bank. Bank Hapoalim also planned to reopen its office in the coming days, saying that the investigation dealt with matters that were not directly relevant to the bank itself. Both banks reported the investigation to Israeli banking regulation officials.


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