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|homepage = [https://www.mizrahi-tefahot.co.il/en/Bank/pages/default.aspx www.mizrahi-tefahot.co.il]
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|footnotes = <ref name=fb>{{cite news|title=Israeli Mizrahi Tefahot Bank's Fourth-Quarter Net Profit Falls|url=http://www.foxbusiness.com/news/2013/03/18/israeli-mizrahi-tefahot-bank-fourth-quarter-net-profit-falls/|accessdate=26 March 2013|newspaper=[[Fox Business]]|date=18 March 2013|agency=[[Dow Jones Newswires]]}}{{Dead link|date=September 2021}}</ref>
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'''Bank Mizrahi-Tefahot''' ({{lang-he|בנק מזרחי טפחות}}) is the third-largest
==History==
|
Revision as of 22:36, 12 September 2021
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 | Eli Yonas (CEO) Yaakov Peri (Chairman) |
Services | Financial services |
Revenue | ₪4.78 billion (2012) ₪4.61 billion (2011) |
₪1.07 billion (2012) ₪1.05 billion (2011) | |
Number of employees | 3,827 (2007) |
Website | www.mizrahi-tefahot.co.il |
Footnotes / references [1] |
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.[1]
History
Bank Mizrahi-Tefahot was formed by a merger of Bank Mizrahi HaMeuhad and Bank Tefahot in 2004.
Bank Mizrahi was established in 1923 by the Mizrachi movement and later merged with Bank Hapoel HaMizrachi to form Bank Mizrahi HaMeuhad (United Mizrachi Bank).
In November 2017, Mizrahi Tehafot Bank agreed to buy Union Bank of Israel for U$400 million, thereby consolidating its position as the third largest Israeli bank.
Criticism
Involvement in Israeli settlements
On 12 February 2020, the United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights.[2] These settlements are considered illegal under international law.[3] Bank Mizrahi-Tefahot was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "banking and financial operations helping to develop, expand or maintain settlements and their activities" in these occupied territories.[4]
On 5 July 2021, Norway's largest pension fund KLP said it would divest from Bank Mizrahi-Tefahot together with 15 other Israeli companies implicated in the UN report for their links to Israeli settlements in the occupied West Bank.[5]
See also
References
- ^ a b "Israeli Mizrahi Tefahot Bank's Fourth-Quarter Net Profit Falls". Fox Business. Dow Jones Newswires. 18 March 2013. Retrieved 26 March 2013.[dead link]
- ^ "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.
- ^ "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.
- ^ 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.