Bank Mizrahi-Tefahot ( he, בנק מזרחי טפחות) is the third-largest

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

Israel Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...

. It has around 140 branches. The bank is the largest among Israel's mortgage lenders.

History

Bank Mizrahi-Tefahot was formed by a merger of Bank Mizrahi HaMeuhad and Bank Tefahot in 2004. Bank Mizrahi was established in 1923 by the Mizrachi movement and later merged with Bank

Hapoel HaMizrachi Hapoel HaMizrachi ( he, הַפּוֹעֵל הַמִּזְרָחִי, lit. '' Mizrachi Workers'') was a political party and settlement movement in Israel. It was one of the predecessors of the National Religious Party and the Jewish Home. History ...

to form Bank Mizrahi HaMeuhad (United Mizrachi Bank). In November 2017, Mizrahi Tehafot Bank agreed to buy

Union Bank of Israel The Union Bank of Israel, Ltd. ( he, בנק אגוד לישראל); ), more widely known by its Hebrew name, Bank Igud, is the sixth largest Israel Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the Stat ...

for US$400 million, thereby consolidating its position as the third largest Israeli bank. On 12 February 2020, Bank Mizrahi-Tefahot was listed on

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of 112 companies compiled by the

United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be ...

implicated in helping to further

Israeli settlement Israeli settlements, or Israeli colonies, are civilian communities inhabited by Israeli citizens, overwhelmingly of Jewish ethnicity, built on lands occupied by Israel in the 1967 Six-Day War. The international community considers Israeli se ...

activity in the

West Bank The West Bank ( ar, الضفة الغربية, translit=aḍ-Ḍiffah al-Ġarbiyyah; he, הגדה המערבית, translit=HaGadah HaMaʽaravit, also referred to by some Israelis as ) is a landlocked territory near the coast of the Mediter ...

and

Golan Heights The Golan Heights ( ar, هَضْبَةُ الْجَوْلَانِ, Haḍbatu l-Jawlān or ; he, רמת הגולן, ), or simply the Golan, is a region in the Levant spanning about . The region defined as the Golan Heights differs between di ...

, an activity considered illegal under international law. On 5 July 2021,

Norway Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and t ...

's largest pension fund

KLP KLP may refer to: *Kommunal Landspensjonskasse, Norwegian mutual insurance company * KLP Eiendom, Norwegian real estate management company *KLP (musician), Australian singer-songwriter, record producer, DJ and radio personality * Kamasa language, IS ...

said it would divest from Bank Mizrahi-Tefahot, alongside 15 other business entities implicated in the report, 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.

References

External links

Bank website
{{Authority control Banks of Israel Banks established in 1923 1923 establishments in Mandatory Palestine Companies listed on the Tel Aviv Stock Exchange

History

See also

References

External links