Bank Mizrahi-Tefahot is one of Israel's largest banks, with a long history dating back to 1959. It was founded by the Mizrahi bank and the Tefahot bank, and has since grown to become a major player in the Israeli financial market.
The bank offers a wide range of financial services, including personal and corporate banking, investments, and insurance. Its strong presence in the market has made it a trusted institution among Israelis.
However, like many large corporations, Bank Mizrahi-Tefahot has faced its share of controversies over the years.
History
Bank Mizrahi-Tefahot has its roots in the Mizrachi Movement, which founded the Bank Mizrahi in 1923. The bank was later merged with the Bank Hapoel HaMizrachi to form the United Mizrachi Bank.
The United Mizrachi Bank, known as Bank Mizrahi HaMeuhad, played a significant role in the bank's history.
British Mandate Era
The British Mandate era was a pivotal time for Mizrahi Bank, which was founded in 1923 by the World Mizrahi Movement. The bank's primary goal was to provide financial assistance to individuals and institutions within the Mizrahi Organization.
The bank was also tasked with serving as a national public bank for the entire Jewish community in the Yishuv. This mission reflects the bank's commitment to supporting the local community.
In 2004, the banking system underwent significant transformations, including the merger of several mortgage banks with their commercial banks. This led to the idea of a merger within the Bank Mizrachi group becoming practical.
Geschichte
The bank Mizrahi-Tefahot has its roots in the Mizrachi movement, which founded the Bank Mizrahi in 1923. This marked the beginning of a long journey for the bank.
The Bank Mizrahi merged with the Bank Hapoel HaMizrachi to form the Bank Mizrahi HaMeuhad, also known as the United Mizrachi Bank. This significant merger laid the foundation for the bank's future growth.
In 2004, the Bank Mizrahi HaMeuhad and the Bank Tefahot came together to form the bank Mizrahi-Tefahot we know today. This fusion brought together two established banks to create a stronger entity.
Mizrahi Tefahot Ltd
Mizrahi Tefahot Ltd is a major Israeli bank that plays a significant role in the country's financial sector. It was established in 1963 and has since grown to become one of the largest banks in Israel.
The bank's history is marked by significant milestones, including the acquisition of Tefahot Bank in 1992. This acquisition helped expand Mizrahi Tefahot's customer base and services.
Mizrahi Tefahot Ltd operates under the Bank Mizrahi-Tefahot brand, which is recognized for its innovative banking solutions and services. The bank offers a wide range of financial products and services to its customers.
Mizrahi Tefahot Ltd is listed on the Tel Aviv Stock Exchange (TASE) and has a significant market presence. Its shares are widely held by institutional and individual investors.
As a leading bank in Israel, Mizrahi Tefahot Ltd continues to innovate and expand its services to meet the evolving needs of its customers.
Controversies
The Bank Mizrahi-Tefahot has been involved in some controversy. It was listed by the United Nations as one of 112 companies supporting Israeli settlement activity in the West Bank and Golan Heights, which is considered illegal under international law.
The controversy surrounding the bank's involvement in settlement activity led to a significant decision in 2021. The Norwegian pension fund KLP announced that it would be divesting from the bank, along with 15 other companies listed in the United Nations report.
The bank's activities have been scrutinized for their contribution to the development and expansion of settlements in the occupied territories.
IBAN and Account Information
To find your Mizrahi Tefahot Bank Ltd IBAN number, you can either work it out based on an example or log into your online banking account.
You can also find your IBAN number on your bank statement.
If you don't use the right IBAN number, your payment might be returned or sent to the wrong account.
Checking with your bank or asking the recipient to provide the details is a good idea if you're not sure about your IBAN number.
Any IBAN or BBAN account numbers mentioned in this article are just examples and shouldn't be used to process a transfer.
Frequently Asked Questions
Who owns Mizrahi Tefahot Bank?
Mizrahi Tefahot Bank is primarily owned by the Ofer and Wertheim groups, who hold approximately 41.45% of its shares. The remaining shares are publicly traded on the Tel-Aviv Stock Exchange.
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