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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 | Eli Yonas (CEO)Yaakov Peri (Chairman) |
Services | Financial services |
Revenue | ![]() |
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Number of employees | 3,827 (2007) |
Website | www.mizrahi-tefahot.co.il |
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.
History
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 also
References
- ^ Bank Mizrahi Set to Merge With Tefahot
- ^ Mizrahi Tefahot Bank
- ^ Barkai, Haim; Liviatan, Nissan (2007). The Bank of Israel Volume 2: Selected Topics in Israel's Monetary Policy. Oxford University Press. p. 174.
- ^ Israel's Mizrahi-Tefahot to buy Union Bank for $400 mln
- ^ "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.