Bank Hapoalim 311.
(photo credit: Ariel Jerozolimski )
Bank Hapoalim CEO Zion Kenan can keep his job, the Bank of Israel announced
Sunday, after the State Prosecutor’s Office decided to close the case against
him due to lack of evidence.
Supervisor of Banks David Zaken said there
was no reason to change Kenan’s position.
However, he found flaws in Bank
Hapoalim’s approval of credit to then chairman Dan Dankner, when Kenan served as
head of the bank’s corporate division.
In that capacity, Kenan was
responsible for submitting Dankner’s requests to the board of directors. Zaken
reprimanded Kenan on this point.
In October 2010, Bank Hapoalim fixed the
flaws and updated its procedures to reflect the Bank of Israel’s proper banking
procedures for the approval and granting of credit to affiliated
“The supervisor’s announcement brings this matter to a close,”
Bank Hapoalim said. “The bank will naturally continue to meticulously fulfill
all orders of the banking supervisor.
The bank will promote its business
in line with its strategic plans under the leadership of chairman Yair Seroussi
and CEO Zion Kenan.”
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