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Bank Leumi CEO says dividend likely to be reinstated in early 2017

expects to meet a central bank capital requirement by the beginning of 2017,paving the way for the resumption of dividend payments after a five-yearhiatus, CEO Rakefet Russak-Aminoach told Bloomberg News.

Under Bankof Israel requirements, Bank Leumi must have a Tier 1 capital ratio of at least10.25%, a target that Russak-Aminoach said in an Oct. 5 interview would be met.It had a Tier 1 ratio of 10.4% at the end of June 2016, according to the Oct. 9report, which was updated Oct. 10.

"Wheneverwe are there, we will be able to approach the regulator and ask for approvalfor a dividend," the CEO added. The bank last paid one in2011, according to Bloomberg data.