JERUSALEM Dec 28 The board of Bank Mizrahi
, Israel's third-largest lender, has approved a plan
that calls for the early retirement of 300 workers through the
year 2021 at a cost of 300 million shekels ($78 million).
* The cost of the plan will be incurred in the 2016 year end
report and it is expected to save the bank 70 million shekels a
year, Mizrahi said on Wednesday.
* Israel's banking regulator last year ordered banks to
become more efficient and expects the banking system to save at
least 1 billion shekels a year starting in 2020 from
redundancies, branch closures and using more technology.
* ($1 = 3.8495 shekels)
(Reporting by Ari Rabinovitch; Editing by Elaine Hardcastle)