Bank Mizrahi-Tefahot

Bank Mizrahi-Tefahot (Hebrew: בנק מזרחי טפחות) is the third-largest bank in Israel. It has around 140 branches. The bank is the largest among Israel's mortgage lenders.

Bank Mizrahi-Tefahot
Native name
בנק מזרחי טפחות
FormerlyBank Mizrahi
TypePublic
TASEMZTF
IndustryBanking
Founded1923; 99 years ago (1923)
FounderMizrachi movement
Headquarters,
Area served
Israel
Key people
Eli Yonas (CEO)Yaakov Peri (Chairman)
ServicesFinancial services
RevenueIncrease 4.78 billion (2012) 4.61 billion (2011)
Increase 1.07 billion (2012) 1.05 billion (2011)
Number of employees
3,827 (2007)
Websitewww.mizrahi-tefahot.co.il

HistoryEdit

Bank Mizrahi-Tefahot was formed by a merger of Bank Mizrahi HaMeuhad and Bank Tefahot in 2004.[1]

Bank Mizrahi was established in 1923[2] by the Mizrachi movement and later merged with Bank Hapoel HaMizrachi[3] to form Bank Mizrahi HaMeuhad (United Mizrachi Bank).

In November 2017, Mizrahi Tehafot Bank agreed to buy Union Bank of Israel for US$400 million, thereby consolidating its position as the third largest Israeli bank.[4]

On 5 July 2021, Norway's largest pension fund KLP said it would divest from Bank Mizrahi-Tefahot together with 15 other business entities implicated in a 2020 UN report for their links to Israeli settlements in the West Bank.[5][6]

See alsoEdit

ReferencesEdit

  1. ^ Bank Mizrahi Set to Merge With Tefahot
  2. ^ Mizrahi Tefahot Bank
  3. ^ Barkai, Haim; Liviatan, Nissan (2007). The Bank of Israel Volume 2: Selected Topics in Israel's Monetary Policy. Oxford University Press. p. 174.
  4. ^ Israel's Mizrahi-Tefahot to buy Union Bank for $400 mln
  5. ^ "Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)". UN OCHA. 12 Feb 2020. Retrieved 2021-09-12.
  6. ^ Fouche, Gwladys; Jessop, Simon (5 July 2021). "Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank". Reuters. Retrieved 2021-09-13.

External linksEdit