Mizrahi Tefahot Bank Ltd.

Mizrahi-Tefahot Bank is Israel’s third-largest bank. The Bank offers its private and commercial banking customers in Israel and around the world, an extensive range of financial products and services at the highest professional level. The mix of commercial and mortgage activities, provided by “Tefahot”, Israel’s No. 1 mortgage brand, enables Bank customers to benefit from attractive mortgages, a wide range of financial products and services and the affinity between them.

By the end of 2023, the Group had about 200 branches, extensions and business centers located in Israel and around the world - including over 50 Bank Yahav branches through which it provides its customers with a wide range of banking products and financial services that perfectly meet their changing needs.

In addition to its branch operations, the Bank offers sophisticated and advanced direct banking services via the internet, telephone, or cell phone.
Standard & Poor’s Ma’alot, The Israel Credit Rating Company, has rated the Bank’s obligations at AAA.
Moshe Lari serves as CEO and Avi Zeldman serves as Chairman of the Board of Directors.

Retail Dominance

Mizrahi Tefahot provides “comprehensive service” at the highest level possible to the household and private customer sectors, offering a range of unique products and services, enabling them to manage their financial affairs simply and cost-effectively. These services include advanced account management services with attractive commission rates, loan facilities at advantageous interest rates, various mortgages, loans for any purpose, and a broad variety of rewarding investment options.
The Bank provides high net worth individuals with personal and professional services, which are tailored to meet their own particular requirements.

Mizrahi Tefahot “Hybrid Banking”

Mizrahi Tefahot is noted for its unique basket of products and services that provide added value to customers. The Bank’s “Hybrid” Banking” is an innovative and exclusive service concept that offers the ultimate combination of services offered by personal bankers and digital banking.
Only customers of Mizrahi-Tefahot can directly contact their personal banker, using a variety of digital channels, with maximum availability, during extended working hours and from anywhere in the world.

Mortgage Leader

Mizrahi-Tefahot is a mortgage lender in Israel, through “Tefahot” the largest and leading mortgage brand in Israel, with a market share of more than third of the domestic market. The mix between commercial-retail activities and mortgage activities creates a “positive link” between checking accounts and mortgage loans, enabling customers of the Bank to utilize unique products and services that are a direct result of the link between these two activities.

Control of Bank Yahav

The Mizrahi-Tefahot Group includes Bank Yahav, of which the Bank has a 50% holding. Bank Yahav was for many years a niche bank serving government and public sector employees. The Bank now offers banking services to all retail customers. As part of the cooperation within the group, “Tefahot” mortgage desks operate in the main branches of Bank Yahav.

The Acquisition of Union Bank

In late September 2020, the acquisition of Union Bank was finalized, following which Union Bank became a fully owned subsidiary of Mizrahi-Tefahot. The merger of Union Bank into Mizrahi-Tefahot ended as planned at the end of 2022, and since then Union Bank has ceased to exist.

Corporate Banking and Trading Rooms

Mizrahi-Tefahot provides a wide range of products and services to the corporate sector. The Corporate Division and the Regional Business Centers located throughout the country, offer corporate and business customers personal and professional services, tailored to each corporation or business needs according to size and nature.
The Bank recently established real investment activities that will complement its business activities.
Mizrahi Tefahot operates a sophisticated and advanced trading room and offers its private and business customers a wide range of foreign currency, financial instruments, and capital markets operations, activities where the Bank has a market share much larger than its relative size.

International Presence

The Bank holds branches in the UK and the US. The bank’s local and of-shore trading rooms are synchronized into one.

Investment and Pension Advisory Services

The professional investment advisors of Mizrahi-Tefahot provide personal advisory services to suit the customer’s specific needs. In addition, the Bank provides objective, advanced pension advisory services to both self-employed and salaried employees.

Community Involvement

As a community orientated business, Mizrahi-Tefahot is deeply committed to contributing to the community. The Bank has taken a strategic decision to shift from a policy of donations to active social involvement. Currently, the majority of the Bank’s branches and head office units actively cooperate with associations and organizations that work with children having special needs.

Historical Background

Mizrahi Bank Ltd. (today Mizrahi Tefahot Bank Ltd.) was established in 1923 by the World Mizrahi Movement. In 1963, the Bank went public and its shares began trading on the Tel Aviv Stock Exchange. In 1995, a privatization process began, under which the Wertheim and Ofer Groups acquired 26.0% of the shares. In 1997, the Groups increased their Bank holdings, and today its hold over 40% of the its shares. The rest of the shares are held by the public.