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United Mizrahi Bank (Switzerland) Ltd., Zurich
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Bank Profile
Mizrahi Tefahot Bank Ltd. was among the first banks established in the State of Israel. The Bank was associated as a public company on June 6, 1923, under the name Mizrahi Bank Ltd., and it was issued the license to commence business on May 13, 1924. The Bank was founded at the initiative of the World Mizrahi Center, in order to facilitate the financing of settlement, construction, manufacturing, labor and commercial activities of the new settlers in the Land of Israel.
In 1969, upon the merger of the businesses of the Bank with the businesses of Hapoel Hamizrahi Bank Ltd., the Bank’s name was changed to United Mizrahi Bank Ltd. in 1983, within the framework of the arrangement formulated between the Israeli Government and the banks, the shares of the Bank were transferred to the control of the State through a securities company that was established for this purpose. In the years 1995 and 1997, the Bank was privatized in two stages, and was transferred to control of the present controlling shareholders.
Following the merger between United Mizrahi Bank Ltd and “Tefahot” Israel Mortgage Bank Ltd. (“Tefahot”), the merged bank's name was changed on November 7, 2005 to its present name, Mizrahi Tefahot Bank Ltd.
The Bank Group operates in Israel and overseas. The Bank Group is engaged in commercial banking (business and retail) as well as mortgage activities in Israel, through a nation-wide network of 126 branches and business centers. Furthermore, business customers are supported by business centers and professional departments at Bank headquarters, which specialize by sector. The Bank's overseas operations are conducted via 3 subsidiaries, 3 branches and 3 representative offices in Europe, USA and Latin America.
The shares (Symbol/Ticker: MZTF, ISIN: IL0006954379, Reuters: MZTF.TA, Bloomberg: MZTF IT) are listed for trading on the Tel-Aviv Stock Exchange.