Mizrahi Tefahot Bank Ltd. history, profile and history video
Mizrahi Tefahot Bank Ltd. is engaged in the provision of financial services. It operates through the following segments: Household, Small Business, Private Banking, Commercial Banking, Business Banking, and Financial Management. The Household segment serves the individual bank clients. The Small Business segment covers clients with indebtedness level of less than NIS 6 million, sales of less than NIS 30 million and liquid asset balance of less than NIS 10 million. The Private Banking segment provides clients, with high financial wealth, with products and services in capital management activity, advisory service and investment management. The Commercial Banking segment renders service to medium sized private and public companies. The Business Banking segment focuses on major corporations or large companies. The Financial Management segment manages assets and liabilities, exposure to market risk, nostro portfolio, and liquidity. Its products and services include banking and financing, capital market, credit card, and mortgage. The company was founded on June 6, 1923 and is headquartered in Ramat Gan, Israel.“
“Overview Mizrahi Tefahot Bank
Mizrahi Tefahot Bank Ltd., (“Mizrahi Tefahot”) is incorporated and existing under the laws of the State of Israel and was established as a public company limited by shares on June 6, 1923. In 1963, Mizrahi Tefahot’s shares were first traded on the Tel-Aviv Stock Exchange.
Mizrahi Tefahot is Israel’s fourth largest bank by assets and offers a complete range of international, commercial, domestic and personal banking services. Total assets as of March 31, 2014 totalled USD 52.98 billion and for the first Quarter 2014, Mizrahi Tefahot reported operating profit before tax of USD 123.02 million, net profit of USD 75.70 million, and a return on equity of 11 %.
Mizrahi Tefahot’s controlling shareholders, the Ofer and Wertheim group, currently hold about 44.56 % of its shares, with the remainder owned by the public and listed on the Tel-Aviv Stock Exchange. Mizrahi Tefahot Group operates through 166 branches in Israel (including 33 branches of Bank Yahav, mainly specializing in services to government and public employees), and affiliates in Israel and abroad, with branches or representation internationally in eight countries in Europe and the Americas.
Mizrahi Tefahot has been assigned an international rating by Moody’s of A1 with respect to foreign bank deposits. S&P Maalot has assigned Mizrahi Tefahot a rating of AA+ and a rating of A+ with respect to subordinated securities issued by Mizrahi Tefahot that have been recognized by the Bank of Israel as an Upper Tier 2 Capital.”
*Information from Forbes.com and Mizrahi-tefahot.co.il
**Video published on YouTube by “MizrahiTefahot“