SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
FILING NO. 4 FOR THE MONTH OF DECEMBER 2008
INDUSTRIAL DEVELOPMENT BANK OF ISRAEL LIMITED
(Translation of Registrant's name in English)
82 MENAHEM BEGIN ROAD, TEL AVIV, ISRAEL
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:
Form 20-F [X] Form 40-F [_]
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): ____
Indicate by check mark whether the registrant by furnishing the information
contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes [_] No [X]
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-________
INDUSTRIAL DEVELOPMENT BANK OF ISRAEL LIMITED
1. On December 31, 2008, the Industrial Development Bank of Israel Limited
("Registrant" or "Bank") issued an Immediate Report giving notice that the
Bank and the Bank of Israel had reached an agreement by which the Bank of
Israel will return to the Bank the sum of NIS 48,600,000 for the charges
charged to the Bank for the line of credit in excess of the Bank of Israel
interest rate.
A translation of the Immediate Report issued by the Registrant is included
as Exhibit 1 to this Form 6-K.
2. On December 31, 2008, the Bank issued another Immediate Report giving
notice that the the State of Israel paid to the Bank the sum of
approximately NIS 857.5 million from the perpetual deposit of the Bank with
the Ministry of Finance. From this amount, the sum of approximately NIS
304.5 million was transferred by the State to the Bank of Israel in order
to pay the balance of the special line of credit granted to the Bank by the
Bank of Israel while the remaining amount, in the sum of some NIS 553
million, was transferred to the Bank.
A translation of the Immediate Report issued by the Registrant is included
as Exhibit 2 to this Form 6-K.
FORWARD-LOOKING STATEMENTS
This report on Form 6-K, including the Immediate Reports (copies of which are
included in this report on Form 6-K as Exhibits 1 and 2), contain both
historical and forward-looking statements within the meaning of Section 27A of
the U.S. Securities Act of 1933, as amended (the "Securities Act") and Section
21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
These forward-looking statements are not historical facts, but only predictions,
and generally can be identified by the use of statements that include phrases
such as "believe," "expect," "anticipate," "intend," "plan," "foresee" or other
words or phrases of similar import. Similarly, statements that describe our
objectives, plans or goals also are forward-looking statements. These
forward-looking statements are based on our current expectations and are subject
to risks and uncertainties that could cause actual results to differ materially
from those currently anticipated. The forward-looking statements included in
this report on Form 6-K and the Immediate Reports are made only as of the date
hereof and we undertake no obligation to publicly update these forward-looking
statements to reflect new information, future events or otherwise.
Our actual results, performance and achievements could differ materially from
any future results, performance or achievements expressly predicted or implied
by these forward looking statements. The important factors which may cause
actual results to differ from the forward-looking statements contained herein
and in the Immediate Report include, but are not limited to, the following:
general economic and business conditions; the implementation of the government's
resolution concerning the privatization of the Bank and the implementation of
the arrangement and compromise scheme between the Bank and its shareholders
regarding, among other things, the sale of the shares of the Bank, a scheme
which was approved by the Bank's shareholders on October 30, 2008 and November
6, 2008 and by the Tel Aviv District Court on November 24, 2008; the
government's resolutions regarding our future operations; our ability to collect
on existing loans; operating costs for our remaining business activities; and
the ability to retain employees for our remaining business activities. Although
we believe that the assumptions underlying the forward-looking statements
contained herein and in the Immediate Report are reasonable, any of the
assumptions could be inaccurate, and therefore, there can be no assurance that
the forward-looking statements will prove to be accurate. In light of the
significant uncertainties inherent in the forward-looking statements included
herein and in the 2007 annual financial report, the inclusion of such
information should not be regarded as a representation by us or any other person
that our objectives and expectations will be achieved.
Potential investors and other readers are urged to consider these factors
carefully in evaluating the forward-looking statements and are cautioned not to
place undue reliance on these forward-looking statements. In light of these
risks, uncertainties and assumptions, the forward-looking events might or might
not occur. We cannot assure you that projected results or events will be
achieved.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
INDUSTRIAL DEVELOPMENT BANK
OF ISRAEL LIMITED
Date: December 31, 2008 By: /s/ Michael Warzager
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Michael Warzager
General Counsel
By: /s/ Natan Atlas
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Natan Atlas
Corporate Secretary