--- source_url: "https://en.wikipedia.org/wiki/Bank_Mizrahi-Tefahot?utm_source=openai" title: Bank Mizrahi-Tefahot - Wikipedia mirrored_at: 2026-08-17T03:02:42.197Z host: en.wikipedia.org cited_in_42a: true mirror_canonical: "https://index.42a.ai/en.wikipedia.org/wiki/Bank_Mizrahi-Tefahot__q__utm_source_openai" --- > **Original source:** https://en.wikipedia.org/wiki/Bank_Mizrahi-Tefahot?utm_source=openai From Wikipedia, the free encyclopedia Bank Mizrahi-Tefahot Bank Mizrahi historical head office in [Rothschild Boulevard](https://en.wikipedia.org/wiki/Rothschild_Boulevard "Rothschild Boulevard"), [Tel Aviv](https://en.wikipedia.org/wiki/Tel_Aviv "Tel Aviv") Native name בנק מזרחי טפחות Formerly Bank Mizrahi Type [Public](https://en.wikipedia.org/wiki/Public_company "Public company") [Traded as](https://en.wikipedia.org/wiki/Ticker_symbol "Ticker symbol") [TASE](https://en.wikipedia.org/wiki/Tel_Aviv_Stock_Exchange "Tel Aviv Stock Exchange"): [MZTF](https://market.tase.co.il/en/market_data/security/%7B%7B%7B2%7D%7D%7D) Industry [Banking](https://en.wikipedia.org/wiki/Banking "Banking") Founded 1923; 103 years ago Founder [Mizrachi movement](https://en.wikipedia.org/wiki/Mizrachi_\(Religious_Zionism\) "Mizrachi (Religious Zionism)") Headquarters [Ramat Gan](https://en.wikipedia.org/wiki/Ramat_Gan "Ramat Gan") , [Israel](https://en.wikipedia.org/wiki/Israel "Israel") Area served [Israel](https://en.wikipedia.org/wiki/Israel "Israel") Key people As of 2022: [Moshe Lary](https://en.wikipedia.org/wiki/Moshe_Lary?action=edit&redlink=1 "Moshe Lary (page does not exist)") \[[he](https://he.wikipedia.org/wiki/%D7%9E%D7%A9%D7%94%20%D7%9C%D7%90%D7%A8%D7%99 "he:משה לארי")\] (President & CEO) Moshe Vidman (Chairman)[\[1\]](#cite_note-1) Services [Financial services](https://en.wikipedia.org/wiki/Financial_services "Financial services") Revenue ![Increase](https://upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/20px-Increase2.svg.png?utm_source=en.wikipedia.org&utm_campaign=parser&utm_content=thumbnail) [₪](https://en.wikipedia.org/wiki/Israeli_new_shekel "Israeli new shekel")13.67 billion (2022) [Net income](https://en.wikipedia.org/wiki/Net_income "Net income") ![Increase](https://upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/20px-Increase2.svg.png?utm_source=en.wikipedia.org&utm_campaign=parser&utm_content=thumbnail) [₪](https://en.wikipedia.org/wiki/Israeli_new_shekel "Israeli new shekel")4.47 billion (2022) [Total assets](https://en.wikipedia.org/wiki/Asset "Asset") ![Increase](https://upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/20px-Increase2.svg.png?utm_source=en.wikipedia.org&utm_campaign=parser&utm_content=thumbnail) [₪](https://en.wikipedia.org/wiki/Israeli_new_shekel "Israeli new shekel")428.292 billion (2022) Number of employees 3,827 (2007) Website [www.mizrahi-tefahot.co.il](http://www.mizrahi-tefahot.co.il/) **Footnotes** [\[2\]](#cite_note-2) **Bank Mizrahi-Tefahot** ([Hebrew](https://en.wikipedia.org/wiki/Hebrew_language "Hebrew language"): בנק מזרחי טפחות) is the third-largest [bank](https://en.wikipedia.org/wiki/Bank "Bank") in [Israel](https://en.wikipedia.org/wiki/Israel "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. The Chairman is Avraham (Avi) Zeldman, who replaced Moshe Vidman in June 2024.[\[3\]](#cite_note-3) During Larry's tenure, Bank Mizrahi purchased all the shares of [Union Bank of Israel](https://en.wikipedia.org/wiki/Union_Bank_of_Israel "Union Bank of Israel"), which became its fully owned subsidiary.[\[4\]](#cite_note-:0-4) ### British Mandate era \[[edit](https://en.wikipedia.org/w/index.php?title=Bank_Mizrahi-Tefahot&action=edit§ion=2 "Edit section: British Mandate era")\] The Mizrahi Bank was founded by the [World Mizrahi Movement](https://en.wikipedia.org/wiki/Mizrachi_\(religious_Zionism\) "Mizrachi (religious Zionism)") 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.[\[5\]](#cite_note-:1-5) In addition, the bank was entrusted with the mission of serving as a national public bank for the entire Jewish community in the [Yishuv](https://en.wikipedia.org/wiki/Yishuv "Yishuv").[\[5\]](#cite_note-:1-5) In 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.[\[6\]](#cite_note-6) 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".[\[5\]](#cite_note-:1-5) Bank Mizrahi was established in 1923[\[7\]](#cite_note-7) by the [Mizrachi](https://en.wikipedia.org/wiki/Mizrachi_\(Religious_Zionism\) "Mizrachi (Religious Zionism)") movement and later merged with Bank [Hapoel HaMizrachi](https://en.wikipedia.org/wiki/Hapoel_HaMizrachi "Hapoel HaMizrachi")[\[8\]](#cite_note-8) to form Bank Mizrahi HaMeuhad (United Mizrachi Bank). In November 2017, Mizrahi Tehafot Bank agreed to buy [Union Bank of Israel](https://en.wikipedia.org/wiki/Union_Bank_of_Israel "Union Bank of Israel") for US$400 million, thereby consolidating its position as the third largest Israeli bank.[\[4\]](#cite_note-:0-4) On 12 February 2020, Bank Mizrahi-Tefahot was listed on a [database](https://en.wikipedia.org/wiki/List_of_companies_operating_in_West_Bank_settlements "List of companies operating in West Bank settlements") of 112 companies compiled by the [United Nations](https://en.wikipedia.org/wiki/United_Nations "United Nations") implicated in helping to further [Israeli settlement](https://en.wikipedia.org/wiki/Israeli_settlement "Israeli settlement") activity in the [West Bank](https://en.wikipedia.org/wiki/West_Bank "West Bank") and [Golan Heights](https://en.wikipedia.org/wiki/Golan_Heights "Golan Heights"),[\[9\]](#cite_note-unlist_ohchr-9) an activity considered [illegal under international law](https://en.wikipedia.org/wiki/International_law_and_Israeli_settlements "International law and Israeli settlements").[\[10\]](#cite_note-unsc2334-10) On 5 July 2021, [Norway](https://en.wikipedia.org/wiki/Norway "Norway")'s largest pension fund [KLP](https://en.wikipedia.org/wiki/Kommunal_Landspensjonskasse "Kommunal Landspensjonskasse") said it would divest from Bank Mizrahi-Tefahot, alongside 15 other business entities implicated in the report,[\[11\]](#cite_note-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.[\[12\]](#cite_note-12) - Etgar - Investment Portfolio Management has been managing investment portfolios since 1987. - Mizrahi-Tefahot Trust Company - A [trust company](https://en.wikipedia.org/wiki/Trust_company "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](https://en.wikipedia.org/wiki/Insurance "Insurance") Agency - provides mortgage insurance (life and structure insurance) to customers who take out mortgages through the bank. - [Banking in Israel](https://en.wikipedia.org/wiki/Banking_in_Israel "Banking in Israel") - [List of companies operating in West Bank settlements](https://en.wikipedia.org/wiki/List_of_companies_operating_in_West_Bank_settlements "List of companies operating in West Bank settlements") 1. [↑](#cite_ref-1) [Officers and Directors Meet the current directors and senior management team of Mizrahi-Tefahot Bank Ltd](https://www.mizrahi-tefahot.co.il/en/about-mizrahi-tefahot/officers-and-directors-en/) 2. [↑](#cite_ref-2) ["Annual Report 2022"](https://www.mizrahi-tefahot.co.il/mizmedia/10826/200012242_e.pdf) (PDF). Mizrahi Tefahot. 2022-12-31. 3. [↑](#cite_ref-3) כלכליסט; כלכליסט (2024-02-12). ["אבי זלדמן נבחר לתפקיד יו"ר דירקטוריון בנק מזרחי טפחות"](https://www.ynet.co.il/economy/article/hkpxplpit). _Ynet_ (in Hebrew). Retrieved 2026-03-31. 4. [1](#cite_ref-:0_4-0) [2](#cite_ref-:0_4-1) [Israel's Mizrahi-Tefahot to buy Union Bank for $400 mln](https://www.reuters.com/article/mizrah-tefaht-bk-union-bk-israel/update-1-israels-mizrahi-tefahot-to-buy-union-bank-for-400-mln-idUKL8N1NY3Z9) 5. [1](#cite_ref-:1_5-0) [2](#cite_ref-:1_5-1) [3](#cite_ref-:1_5-2) Elena (2022-06-01). ["Банк Мизрахи-Тфахот — Mizrahi Tefahot – Блог Israel Assist"](https://concierge-israel.com/poleznaya-informatsiya/bank-mizrahi-tfahot-mizrahi-tefahot). _concierge-israel.com_ (in Russian). Retrieved 2024-03-06. 6. [↑](#cite_ref-6) Sheffer, Shlomi (January 25, 2004). ["Bank Mizrahi Set to Merge With Tefahot"](https://www.haaretz.com/2004-01-25/ty-article/bank-mizrahi-set-to-merge-with-tefahot/0000017f-e984-dc91-a17f-fd8df68c0000). _[Haaretz](https://en.wikipedia.org/wiki/Haaretz "Haaretz")_. Retrieved 2024-01-29. 7. [↑](#cite_ref-7) ["Mizrahi Tefahot Bank | Company Overview & News"](https://www.forbes.com/companies/mizrahi-tefahot-bank/?sh=772585b5012f). _[Forbes](https://en.wikipedia.org/wiki/Forbes "Forbes")_. [Archived](https://web.archive.org/web/20210914221739/https://www.forbes.com/companies/mizrahi-tefahot-bank/?sh=772585b5012f) from the original on 2021-09-14. 8. [↑](#cite_ref-8) Barkai, Haim; Liviatan, Nissan (2007). _The Bank of Israel Volume 2: Selected Topics in Israel's Monetary Policy_. [Oxford University Press](https://en.wikipedia.org/wiki/Oxford_University_Press "Oxford University Press"). p. 174. 9. [↑](#cite_ref-unlist_ohchr_9-0) ["UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory"](https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=25542). _[Office of the United Nations High Commissioner for Human Rights](https://en.wikipedia.org/wiki/Office_of_the_United_Nations_High_Commissioner_for_Human_Rights "Office of the United Nations High Commissioner for Human Rights")_. 12 February 2020. Retrieved 5 July 2021. 10. [↑](#cite_ref-unsc2334_10-0) ["S/RES/2334(2016)"](https://undocs.org/S/RES/2334\(2016\)). _[United Nations Security Council](https://en.wikipedia.org/wiki/United_Nations_Security_Council "United Nations Security Council")_. 23 December 2016. Retrieved 5 July 2021. 11. [↑](#cite_ref-11) Fouche, Gwladys; Jessop, Simon (5 July 2021). ["Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank"](https://www.reuters.com/world/middle-east/nordic-fund-klp-excludes-16-companies-over-links-israeli-settlements-west-bank-2021-07-05/). Reuters. Retrieved 2021-09-13. 12. [↑](#cite_ref-12) ["Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)"](https://reliefweb.int/report/occupied-palestinian-territory/database-all-business-enterprises-involved-certain-activities). UN OCHA. 12 Feb 2020. Retrieved 2021-09-12. - [Bank website](https://www.mizrahi-tefahot.co.il/)