The value of the contract was 41.7 million dollars, the bank’s Administration Council president, Benesh Avital stated. According to the agreement, after five years Kolal will receive supplementary compensation, in proportion to the bank’s profits. Kolal’s representative, Freddy Robinson, stated that Eurom Bank was in a difficult position when it was taken over and had now entered a maturity phase.
Kolal, the main Eurom Bank shareholder, is a company controlled by Israeli investors and registered in Holland.
