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About Mizrahi-Tefahot Bank

Mizrahi Tefahot offers you a different kind of banking. We regard you as an exclusive client who has the right to expect personal service and treatment tailored exactly to your expectations and requirements. We give courteous attention, efficient service, interest and understanding, initiative and clarity.

Mizrahi-Tefahot offers Various Banking Services

  • Special accounts for young persons, soldiers, students, employees, the self-employed and retirees
  • Private banking
  • Investments in deposits, savings accounts, provident and mutual funds
  • Loans readily available for different purposes
  • Advanced products and services in foreign currency sectors
  • A diverse range of advanced capital market activities
  • Commercial banking
  • Individually tailored mortgage programs
  • Expertise in real estate

     

Diverse Activity in Israel and Abroad

Mizrahi-Tefahot is controlled in equal shares by businessman Eyal Ofer and the Wertheim Group. The Bank, including Bank Yahav, operates about 200 branches nationwide, which provide banking and financial services, as well as mortgage loans in various tracks, to private and institutional entities.

In addition, Mizrahi-Tefahot maintains extensive international operations using two branches: in the United Kingdom and in the United States.

The Bank has been assigned a long-term issuer rating of ilAAA by S&P Maalot, the Israeli rating company. Mizrahi-Tefahot is supervised by the Bank of Israel and is insured by a Bankers Blanket Bond.

At the beginning of 2005, United Mizrahi Bank Ltd. and Tefahot Israel Mortgage Bank Ltd. merged into one bank, which later changed its name to Mizrahi-Tefahot Bank Ltd. ("Mizrahi-Tefahot"). The merger, the largest ever in the Israeli banking system, connected a leading professional commercial-retail bank with the largest mortgage bank in Israel, enabling it since then to offer customers a unique range of value propositions in both areas, thus in addition to exclusive and highly profitable benefits.

In 2008, Mizrahi-Tefahot completed a transaction to purchase Bank Hapoalim's share in Bank Yahav (50%), together with the Company for Economic and Cultural Projects for State Employees Ltd., which is held in equal shares by the state and the Histadrut.

In the first quarter of 2009, the merger of Adanim Bank, a wholly owned subsidiary, into Mizrahi-Tefahot was completed.

At the end of September 2020, the transaction for the purchase of all shares of Bank Igud [the Union Bank of Israel] by the Bank was completed. Since then, Bank Igud ceased to be a public company and became a wholly owned subsidiary of Mizrahi-Tefahot. At the end of 2022, the process of merging Bank Igud into Mizrahi-Tefahot was completed.


Mizrahi-Tefahot Services

We provide high-quality personalized service including:

  • A wide range of accounts for: employees, the self-employed, business owners, students, soldiers and young persons.
  • Tefahot - number 1 for mortgages: Since its foundation until the present day, the bank has helped in housing and provided mortgages for over 900,000 families.
  • Pension Counseling: Following the Bachar Committee's reform, the Bank sold its holdings in the provident funds that it owned, and became the first bank in Israel to hold a pension counseling license for salaried employees and self-employed. The Bank's consulting model is based on formulas that win the Nobel Prize.
  • Expertise in tailoring the loan to your individual needs and providing consultation before making the decision to take a mortgage. Personal service is available at any time convenient to you, by appointment. This shortens the mortgage process and makes it possible to receive the loan approval within 24 hours.
  • Shekel deposit accounts: Mizrahi-Tefahot offers short-term shekel deposit accounts for periods from one month to a year. The interest rate Mizrahi-Tefahot offers is particularly high, and varies in accordance with the changes of the prime rate.
  • Savings plans: In addition to the short-term deposits, Mizrahi Tefahot offers its clients long-term savings-plans, which enable them to save for various purposes and for the long-term.
  • Business loans and bank guarantees according to the Law of Sale: In addition to its activities in granting housing loans, the bank is also active in financing building projects, for housing and other purposes. This is done by providing credit to building contractors and giving guarantees in compliance with the Law of Sale for Apartments (Assurance of Investments of Persons Acquiring Apartments), 5735-1974.

 

Mizrahi-Tefahot Online Banking 

Mizrahi-Tefahot's online banking service puts us at your fingertips 24 hours a day, 365 days a year from anywhere in the world.

  • Mizrahi-Tefahot Online Service: access to information and banking transactions at no charge
  • Mizrahi-Tefahot Telephone Service: access to information concerning your account at no charge, from the computerized telephone center - 24 hours a day
  • Mizrahi-Tefahot Cellular Service: access to information concerning your account, via text messages
  • Mizrahi-Tefahot PC Service: a direct connection between your computer and the bank's system

 

The History of Mizrahi-Tefahot 

1923 (5683): The Mizrahi Bank founded by the World Mizrachi Movement. 

1925 (5685): The bank opens its doors to the public. 

1969: The directors of the Mizrahi Bank and the Hapoel Hamizrahi Bank decide to merge and found the United Mizrahi Bank Ltd. The new bank has 42 branches throughout the country and assets of over 400 million ILs (Israeli Lira). 

1983: The ownership of the bank is transferred to the State of Israel. 

1995: Privatization process of the bank starts, when the Ofer-Wertheim Group acquires 26% of the bank shares. 

1997: The Ofer-Wertheim Group increases its holdings in the bank to 51% of the shares. 

1998: The State sells the remainder its holdings in the bank to the employees (9%) and to the general public. Today, the shares are held by the Ofer-Wertheim Group and the general public. 

2005: The Mizrahi Bank and the Tefahot Mortgage Bank merge. 

2008: The deal for purchasing 50% of the issued capital of Bank Yahav for State Employees inc. was completed. 

2009: The merger with Adanim Mortgage Bank was completed.

2020: The transaction for the purchase of shares of Bank Igud was completed

 

Subsidiary Companies of Mizrahi-Tefahot 

Within the Mizrahi-Tefahot Group are a number of subsidiary companies, which provide all the necessary financial services:

  • Etgar - investment portfolio management
  • Mizrahi Tefahot Trust Company Ltd
  • Mizrahi-Tefahot Discounting and Finance Ltd.: A company that provides credit voucher discounting services to business customers

Now is the time to visit one of the Mizrahi-Tefahot branches and benefit from a valuable link and comprehensive professional financial management of your assets. Our representatives are waiting to hear from you.

The banking corporations are subject to the Bank of Israel through the Supervisor of Banks, whose functions are: supervision of the banking corporations 'stability from the aspect of protecting depositors' money, maintaining the proper management of the banking corporations, and maintaining fairness in the business relations between the banks and their customers.​