UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 12B-25/A
NOTIFICATION OF LATE FILING
SEC File Number 2-16830
CUSIP Number ___________
(CHECK ONE)
[_] Form 10-K [_] Form 10-Q [_] Form 11-K
[X] Form 20-F [_] Form 10-D [_] Form N-SAR
[_] Form N-CSR
For period ended: DECEMBER 31, 2006
[_] Transition Report on Form 10-K
[_] Transition Report on Form 20-F
[_] Transition Report on Form 11-K
[_] Transition Report on Form 10-Q
[_] Transition Report on Form N-SAR
For the Transition period ended: ____________________________________
NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS
VERIFIED ANY INFORMATION CONTAINED HEREIN.
If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates: ____________________________
___________________________________________________________________________
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PART I
REGISTRANT INFORMATION
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Full Name of Registrant: Industrial Development Bank
of Israel Limited
Former Name if Applicable:
Address of Principal Executive
Office (STREET AND NUMBER): 82 Menachem Begin Road
City, State and Zip Code: Tel Aviv, Israel 67138
PART II
RULES 12B-25(B) AND (C)
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If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check Box if appropriate)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, Form 11-K or Form N-SAR, Form N-CSR, or
[_] portion thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly report or
transition report on Form 10-Q or subject distribution report on Form
10-D, or portion thereof, will be filed on or before the fifth
calendar day following the prescribed due date; and
(c) the accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III
NARRATIVE
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State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be
filed within the prescribed time period.
On July 2, 2007 the Registrant filed Form 12b-25 notification of late
filing of its Annual Report on Form 20-F for the fiscal year ended December
31, 2006, which the Registrant was unable to file without unreasonable
effort and expense because its auditors had not yet had an opportunity to
complete their review of the audited financial statements.
The Registrant respectfully notifies the Securities and Exchange Commission
that it requires additional time to complete its Annual Report on Form 20-F
for the year ended December 31, 2006.
As previously reported by the Registrant on February 26, 2007, pursuant to
the public-reporting directives of the Supervisor of Banks in Israel, the
Registrant was obliged to file its financial reports for the year 2006, in
Israel, by the end of February 2007. Pursuant to the requirements of the
Israeli Government Companies Authority (which are applicable to the
Registrant because it is partially owned by the Government), two accounting
firms were appointed in 2006 as joint auditors of the Registrant, one of
which was new to the Registrant's operations. The auditors notified the
Registrant that the auditing of the reports for the year 2006, in Israel,
would not be completed by the end of February 2007. The Registrant
requested and the Supervisor of Banks agreed to the delay of the filing of
the Registrant's reports for 2006 until the end of March 2007.
Due to, inter alia, the above delay, there was a corresponding delay in the
preparation of the Form 20-F and the auditing of the Registrant's financial
statements that are to be attached thereto, including their reconciliation
to U.S. GAAP.
Based on discussions with the Registrant's independent auditor, the
Registrant expects to be in a position to file the Annual Report on Form
20-F for the fiscal year ended December 31, 2006 within an additional
period of approximately fifteen days.
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PART IV
OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification.
Michael Warzager 011 972 3 627 2700
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months (or for such shorter period that the
registrants were required to file such report(s)) been filed? If the answer is
no, identify report(s).
[X] Yes [_] No
(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[_] Yes [X] No
If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results can not be made.
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INDUSTRIAL DEVELOPMENT BANK OF ISRAEL LIMITED
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: July 17, 2007
By: /s/ Michael Warzager
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Michael Warzager
General Counsel
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