don't restore challenged material without getting consensus first Tags: Undo Reverted |
m Copy-edit Tag: Visual edit |
||
(20 intermediate revisions by 15 users not shown) | |||
Line 17: | Line 17: | ||
|location = |
|location = |
||
|locations = |
|locations = |
||
|key_people = {{as of|2022}}: {{ill|Moshe Lary|he|משה לארי}} (President & CEO) Moshe Vidman (Chairman)<ref>[https://www.mizrahi-tefahot.co.il/en/about-mizrahi-tefahot/officers-and-directors-en/ Officers and Directors |
|||
|key_people = Eli Yonas (CEO)[[Yaakov Peri]] (Chairman) |
|||
Meet the current directors and senior management team of Mizrahi-Tefahot Bank Ltd |
|||
]</ref> |
|||
|area_served = [[Israel]] |
|area_served = [[Israel]] |
||
|industry = [[Banking]] |
|industry = [[Banking]] |
||
|products = |
|products = |
||
|services = [[Financial services]] |
|services = [[Financial services]] |
||
|revenue = {{Increase}} [[Israeli new shekel|₪]] |
|revenue = {{Increase}} [[Israeli new shekel|₪]]13.67 billion |
||
|revenue_year = 2022 |
|||
[[Israeli new shekel|₪]]4.61 billion <small>(2011)</small> |
|||
|operating_income = |
|operating_income = |
||
|net_income = {{Increase}} [[Israeli new shekel|₪]] |
|net_income = {{Increase}} [[Israeli new shekel|₪]]4.47 billion |
||
|net_income_year = 2022 |
|||
[[Israeli new shekel|₪]]1.05 billion <small>(2011)</small> |
|||
|num_employees = 3,827 (2007) |
|num_employees = 3,827 (2007) |
||
|assets = {{Increase}} [[Israeli new shekel|₪]]428.292 billion |
|||
|assets_year = 2022 |
|||
|parent = |
|parent = |
||
|divisions = |
|divisions = |
||
|subsid = |
|subsid = |
||
|owner = |
|owner = |
||
|homepage = www.mizrahi-tefahot.co.il |
|homepage = {{url|www.mizrahi-tefahot.co.il}} |
||
|dissolved = |
|dissolved = |
||
|footnotes = <ref>{{cite web |url=https://www.mizrahi-tefahot.co.il/mizmedia/10826/200012242_e.pdf |title=Annual Report 2022 |publisher=Mizrahi Tefahot |date=2022-12-31}}</ref> |
|||
|footnotes = |
|||
}} |
}} |
||
'''Bank Mizrahi-Tefahot''' ({{lang-he|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''' ({{lang-he|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. |
||
The CEO of Bank Mizrahi-Tefahot since September 2020 is Moshe Larry, who replaced Eldad Persher, the bank's CEO since 2014. During Larry's time, Bank Mizrahi purchased all the shares of [[Union Bank of Israel]], which became their subsidiary.<ref name=":0" /> |
|||
==History== |
==History== |
||
The Mizrahi Bank was founded by the [[Mizrachi (religious Zionism)|World Mizrahi Movement]] in 1923, with the aim of providing financial assistance and serving as a financial instrument for the enterprises of individuals and institutions belonging to the Mizrahi Organization.<ref name=":1">{{Cite web |last=Elena |date=2022-06-01 |title=Банк Мизрахи-Тфахот — Mizrahi Tefahot – Блог Israel Assist |url=https://concierge-israel.com/poleznaya-informatsiya/bank-mizrahi-tfahot-mizrahi-tefahot |access-date=2024-03-06 |website=concierge-israel.com |language=ru}}</ref> |
|||
Bank Mizrahi-Tefahot was formed by a merger of Bank Mizrahi HaMeuhad and Bank Tefahot in 2004.<ref>[https://www.haaretz.com/1.4679730 Bank Mizrahi Set to Merge With Tefahot]</ref> |
|||
In addition, the bank was entrusted with the mission of serving as a national public bank for the entire Jewish community in the [[Yishuv]].<ref name=":1" /> |
|||
During the year 2004, in view of the transformations and changes that took place in the banking system, including the completion of the merger of several mortgage banks with their commercial banks, the idea of a merger within the Bank Mizrachi group became practical, and in June of that year, the board of directors of Bank Mizrachi decided to take action to merge Bank Tefahot with and into Bank Mizrachi.<ref>{{Cite news |last=Sheffer |first=Shlomi |date=January 25, 2004 |title=Bank Mizrahi Set to Merge With Tefahot |url=https://www.haaretz.com/2004-01-25/ty-article/bank-mizrahi-set-to-merge-with-tefahot/0000017f-e984-dc91-a17f-fd8df68c0000 |access-date=2024-01-29 |work=[[Haaretz]] |language=en}}</ref> |
|||
In 2005, United Bank Mizrahi and Tefahot Mortgage Bank merged, and since then the bank has been called "Mizrahi-Tefahot Bank Ltd." or "Mizrahi-Tefahot".<ref>{{Cite web |last=Elena |date=2022-06-01 |title=Банк Мизрахи-Тфахот — Mizrahi Tefahot – Блог Israel Assist |url=https://concierge-israel.com/poleznaya-informatsiya/bank-mizrahi-tfahot-mizrahi-tefahot |access-date=2024-03-06 |website=concierge-israel.com |language=ru}}</ref> |
|||
⚫ | Bank Mizrahi was established in 1923<ref>{{cite web |title=Mizrahi Tefahot Bank {{!}} Company Overview & News |website=[[Forbes]] |archive-url=https://web.archive.org/web/20210914221739/https://www.forbes.com/companies/mizrahi-tefahot-bank/?sh=772585b5012f |archive-date=2021-09-14 |url-status=live |url=https://www.forbes.com/companies/mizrahi-tefahot-bank/?sh=772585b5012f}}</ref> by the [[Mizrachi (Religious Zionism)|Mizrachi]] movement and later merged with Bank [[Hapoel HaMizrachi]]<ref>{{cite book|title=The Bank of Israel Volume 2: Selected Topics in Israel's Monetary Policy|page=174|year=2007|first1=Haim|last1=Barkai|first2=Nissan|last2=Liviatan|publisher=[[Oxford University Press]]}}</ref> 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.<ref name=":0">[https://www.reuters.com/article/mizrah-tefaht-bk-union-bk-israel/update-1-israels-mizrahi-tefahot-to-buy-union-bank-for-400-mln-idUKL8N1NY3Z9 Israel's Mizrahi-Tefahot to buy Union Bank for $400 mln]</ref> |
||
On 12 February 2020, Bank Mizrahi-Tefahot was listed on a [[List of companies operating in West Bank settlements|database]] of 112 companies compiled by the [[United Nations]] implicated in helping to further [[Israeli settlement]] activity in the [[West Bank]] and [[Golan Heights]], <ref name=unlist_ohchr>{{cite news |date=12 February 2020 | title=UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory | url=https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=25542 |work=[[Office of the United Nations High Commissioner for Human Rights]] | access-date=5 July 2021}}</ref> an activity considered [[International_law_and_Israeli_settlements|illegal under international law]].<ref name=unsc2334>{{cite news |date=23 December 2016 | title=S/RES/2334(2016) | url=https://undocs.org/S/RES/2334(2016) |work=[[United Nations Security Council]] | access-date=5 July 2021}}</ref> |
|||
On 5 July 2021, [[Norway]]'s largest pension fund [[Kommunal Landspensjonskasse|KLP]] said it would divest from Bank Mizrahi-Tefahot, alongside 15 other business entities implicated in the report,<ref>{{cite web|url=https://www.reuters.com/world/middle-east/nordic-fund-klp-excludes-16-companies-over-links-israeli-settlements-west-bank-2021-07-05/|title=Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank|first1=Gwladys|last1=Fouche|first2=Simon|last2=Jessop|date=5 July 2021|publisher=Reuters|access-date=2021-09-13}}</ref> over the UN's fingering of what it asserted were "banking and financial operations helping to develop, expand or maintain settlements and their activities" in the occupied territories.<ref>{{cite web|url=https://reliefweb.int/report/occupied-palestinian-territory/database-all-business-enterprises-involved-certain-activities|title=Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)|date=12 Feb 2020|publisher=UN OCHA|access-date=2021-09-12}}</ref> |
|||
== Subsidiary Companies == |
|||
* Etgar - Investment Portfolio Management has been managing investment portfolios since 1987. |
|||
* Mizrahi-Tefahot Trust Company - A [[trust company]] wholly owned and controlled by the bank, allowing for the integration of trust services with the bank's overall banking services. |
|||
⚫ | Bank Mizrahi was established in 1923<ref>[https://www.forbes.com/companies/mizrahi-tefahot-bank/?sh=772585b5012f |
||
* Tafachot [[Insurance]] Agency - provides mortgage insurance (life and structure insurance) to customers who take out mortgages through the bank.[[File:מרכז עסקים ראשי תל אביב.JPG|center|thumb|367x367px]] |
|||
⚫ | 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.<ref>[https://www.reuters.com/article/mizrah-tefaht-bk-union-bk-israel/update-1-israels-mizrahi-tefahot-to-buy-union-bank-for-400-mln-idUKL8N1NY3Z9 Israel's Mizrahi-Tefahot to buy Union Bank for $400 mln]</ref> |
||
==See also== |
==See also== |
||
Line 65: | Line 89: | ||
[[Category:1923 establishments in Mandatory Palestine]] |
[[Category:1923 establishments in Mandatory Palestine]] |
||
[[Category:Companies listed on the Tel Aviv Stock Exchange]] |
[[Category:Companies listed on the Tel Aviv Stock Exchange]] |
||
[[Category:Companies in the TA-35 Index]] |
Revision as of 12:01, 15 May 2024
![]() | |
Bank Mizrahi historical head office in Rothschild Boulevard, Tel Aviv | |
Native name | בנק מזרחי טפחות |
---|---|
Formerly | Bank Mizrahi |
Company type | Public |
TASE: MZTF | |
Industry | Banking |
Founded | 1923 |
Founder | Mizrachi movement |
Headquarters | , |
Area served | Israel |
Key people | As of 2022: Moshe Lary (President & CEO) Moshe Vidman (Chairman)[1] |
Services | Financial services |
Revenue | ![]() |
![]() | |
Total assets | ![]() |
Number of employees | 3,827 (2007) |
Website | www |
Footnotes / references [2] |
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.
The CEO of Bank Mizrahi-Tefahot since September 2020 is Moshe Larry, who replaced Eldad Persher, the bank's CEO since 2014. During Larry's time, Bank Mizrahi purchased all the shares of Union Bank of Israel, which became their subsidiary.[3]
History
The Mizrahi Bank was founded by the World Mizrahi Movement in 1923, with the aim of providing financial assistance and serving as a financial instrument for the enterprises of individuals and institutions belonging to the Mizrahi Organization.[4]
In addition, the bank was entrusted with the mission of serving as a national public bank for the entire Jewish community in the Yishuv.[4]
During the year 2004, in view of the transformations and changes that took place in the banking system, including the completion of the merger of several mortgage banks with their commercial banks, the idea of a merger within the Bank Mizrachi group became practical, and in June of that year, the board of directors of Bank Mizrachi decided to take action to merge Bank Tefahot with and into Bank Mizrachi.[5]
In 2005, United Bank Mizrahi and Tefahot Mortgage Bank merged, and since then the bank has been called "Mizrahi-Tefahot Bank Ltd." or "Mizrahi-Tefahot".[6]
Bank Mizrahi was established in 1923[7] by the Mizrachi movement and later merged with Bank Hapoel HaMizrachi[8] 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.[3]
On 12 February 2020, Bank Mizrahi-Tefahot was listed on a database of 112 companies compiled by the United Nations implicated in helping to further Israeli settlement activity in the West Bank and Golan Heights, [9] an activity considered illegal under international law.[10]
On 5 July 2021, Norway's largest pension fund KLP said it would divest from Bank Mizrahi-Tefahot, alongside 15 other business entities implicated in the report,[11] over the UN's fingering of what it asserted were "banking and financial operations helping to develop, expand or maintain settlements and their activities" in the occupied territories.[12]
Subsidiary Companies
- Etgar - Investment Portfolio Management has been managing investment portfolios since 1987.
- Mizrahi-Tefahot Trust Company - A trust company wholly owned and controlled by the bank, allowing for the integration of trust services with the bank's overall banking services.
- Tafachot Insurance Agency - provides mortgage insurance (life and structure insurance) to customers who take out mortgages through the bank.
See also
References
- ^ [https://www.mizrahi-tefahot.co.il/en/about-mizrahi-tefahot/officers-and-directors-en/ Officers and Directors Meet the current directors and senior management team of Mizrahi-Tefahot Bank Ltd ]
- ^ "Annual Report 2022" (PDF). Mizrahi Tefahot. 2022-12-31.
- ^ a b Israel's Mizrahi-Tefahot to buy Union Bank for $400 mln
- ^ a b Elena (2022-06-01). "Банк Мизрахи-Тфахот — Mizrahi Tefahot – Блог Israel Assist". concierge-israel.com (in Russian). Retrieved 2024-03-06.
- ^ Sheffer, Shlomi (January 25, 2004). "Bank Mizrahi Set to Merge With Tefahot". Haaretz. Retrieved 2024-01-29.
- ^ Elena (2022-06-01). "Банк Мизрахи-Тфахот — Mizrahi Tefahot – Блог Israel Assist". concierge-israel.com (in Russian). Retrieved 2024-03-06.
- ^ "Mizrahi Tefahot Bank | Company Overview & News". Forbes. Archived from the original on 2021-09-14.
- ^ Barkai, Haim; Liviatan, Nissan (2007). The Bank of Israel Volume 2: Selected Topics in Israel's Monetary Policy. Oxford University Press. p. 174.
- ^ "UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory". Office of the United Nations High Commissioner for Human Rights. 12 February 2020. Retrieved 5 July 2021.
- ^ "S/RES/2334(2016)". United Nations Security Council. 23 December 2016. Retrieved 5 July 2021.
- ^ 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.
- ^ "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.