The Mizrahi-Tefahot Group, operates, as of December 31, 2018, 193 branches and business centers, through which it offers a broad spectrum of banking products and financial services that provide a comprehensive range of solutions to its customers’ changing needs and unique characteristics. 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 Vidman serves as Chairman of the Board of Directors, while Eldad Fresher serves as Chief Executive Officer.
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 sophisticated account management services with attractive commission rates, expanded loan facilities at favorable interest rates, various mortgage possibilities, 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 particular requirements.
Mizrahi-Tefahot’s “Hybrid Banking”
Mizrahi-Tefahot is noted for its unique basket of products and services that provide added value to its 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.
Mizrahi-Tefahot is a leading mortgage lender in Israel, through “Tefahot” the largest and leading mortgage brand in Israel, with a market share of approximately one-third of the domestic mortgage market. The mix of commercial-retail activities and mortgage activities creates a “positive link” between checking accounts and the mortgage loan, enabling customers of the Bank to make use of unique products and services that directly result from 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 collaborative efforts within the group, “Tefahot” mortgage desks operate in the main branches of Bank Yahav.
Corporate Banking and Trading Rooms
Mizrahi-Tefahot provides a broad 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, according to size and nature.
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.
The Bank has subsidiaries in Switzerland and the Netherlands, as well as branches and representative offices in the UK, the US, Germany, and Mexico. Mizrahi Tefahot is the first Israeli bank to link its Israeli and global foreign trading rooms into one synchronized floor.
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 and sophisticated pension advisory services to self-employed and salaried employees.
As a community orientated business, Mizrachi-Tefahot has a deep commitment to contributing to the community. The Bank made a unique decision to shift from a policy of monetary donations to social involvement. Today, most of the Bank’s units and branches, have a unique degree of collaboration, characterized by the active involvement of employees with associations and organizations that deal with children with special needs.
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 Bank’s shares. In 1997, the two Groups increased their Bank holdings. As of the end of December 2018, the two groups held 44% of the Bank’s shares, with the rest of the shares being held by the public.
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