Hanan Friedman

Bank Leumi has canceled an option allocation plan for CEO Hanan Friedman following a Bank of Israel directive. The regulator ruled that executive compensation cannot be linked to the performance of a single subsidiary.

Bank Leumi has announced the cancellation of an option allocation for CEO Hanan Friedman. The decision follows a directive from the Banking Supervision Department prohibiting the linkage of executive compensation to the performance of individual subsidiaries.

With record profits, a 16.3% return on equity, and one of the world's best efficiency ratios, Bank Leumi continues to demonstrate strength despite the special tax imposed on the banking sector. Read on for the details.