UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 12B-25
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, 2007
[_] 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.
The Registrant respectfully notifies the Securities and Exchange Commission
that it is unable to file its Annual Report on Form 20-F for the year ended
December 31, 2007 by June 30, 2008 without unreasonable effort and expense,
and that in respect thereto its auditors have not yet had an opportunity to
complete their review of the audited financial statements.
As previously reported by the Registrant, during the last few years the
Registrant has undergone severe reductions in its manpower, including in
its personnel who prepare the Form 20-F and the reconciliation of the
Registrant's reports to U.S. GAAP. Furthermore, new auditors (who were
appointed pursuant to the requirements of the Israeli Government Companies
Authority) will be auditing our financial statements and we will also need
to get the opinion of our previous auditors, regarding the financial
statements audited by them.
The Registrant expects to be in a position to file the Annual Report on
Form 20-F for the fiscal year ended December 31, 2007 within fifteen days
after June 30, 2008.
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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
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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 30, 2008
By: /s/ Michael Warzager
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Michael Warzager
General Counsel
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