Mizrahi Tefahot Bank בנק מזרחי טפחות
A major public Israeli commercial bank.
The bank provides financing for constructing housing projects in the settlements of Ariel, Har Homa, Ramat Rachel, Ma'ale Adumim and Pisgat Ze'ev in the occupied West Bank and East Jerusalem. These projects include at least seven complexes of 377 housing units in Har Homa in the occupied East Jerusalem, carried out by Heftziba, Dona, Kotler Adika and Sasi construction companies. In Ma'ale Adumim settlement, the bank financed at least 10 construction projects, which include about 369 housing units, a commercial center and the Adumim park, carried out by Dona, Kotler-Adika and Sasi. The bank also financed a construction project by Kotler-Adika in Pisgat Ze'ev settlement, which includes 49 housing units. In addition, the bank financed a 128 housing units project in Ramat Rachel in East Jerusalem by R. Ela construction company. Mizrahi Bank also provides financial safeguarding for a Hanan mor construction project in Ariel.
The bank advertises in its website construction projects in the settlements of Modi'in Ilit, Har Homa and Pisgar Ze'ev.
Mizrahi-Tefahot provides loans and financial services to local authorities of settlements and Israeli businesses operating in the occupied territories: The Kdumim settlement opened a current loan account in Mizrahi Bank, in Otsar Hahayal bank and in Igud Bank; The settlement of Karnei Shomron opened a current loan account in Mizrahi Bank in 2010, in addition to attachment of collateral of the settlement's incomes and property tax in Mizrahi Bank; The Gush Etzion settlements' regional council's operates an acount in Mizrahi Bank, which is also used for development and education expenses; Efrat settlement operates two accounts in Mizrahi Bank branch in Alon Shvut: walfare fund and unordinary budget fund.
In addition, the bank provides mortgages for homebuyers in settlements. For example in Ariel (from 2000, 2005 and 2009), Beit Arye (Ofarim) from 2009, 2 houses and land in Beitar Illit from 2010 and a house in Beitar ilit from 2009. In addition, the bank provided mortgage for homebuyer in Immanuel from 2002 and four homebuyers in Modi'in Ilit from 2003, 2005, 2008 and 2012.
Bank Adanim, a fully owned subsidiary of Mizrahi, provides mortgages for houses in settlements, for example, a mortgage for a house in Beitar Illit from 2008.
The bank cooperated with Y.H. Dimri, an Israeli construction company for marketing housing exclusively for Israeli security officers.
The bank operates 3 branches in the illegal settlements of Alon Shvut and Karnei Shomron in the occupied West Bank and a branch in Ramat Eshkol settlement neighborhood in the occupied East Jerusalem.
A subsidiary of the bank (50%), Yahav Bank for Government Employees, has a branch in occupied East Jerusalem, a branch in the settlement of Ma'ale adumim and a branch in Pisgat Ze'ev.
in 29 July 2013, Ha'aretz newspaper reveled a recorded conversation with one of Mizrahi's representatives, who stated that the bank's policy is not to provide credit to Palestinian citizens of Israel in order to discourage them from opening an account in the bank. This is a violation of the Israeli law, which forbids banks from refusing costumers' requests to open accounts.
Click here to read the full report about the involvement of the Israeli banks in the financing of the occupation.
20% of shares are owned by Moshe (Muzi) Wertheim, the owner of the Central Bottling Company (Coca Cola Israel) and about 25% are owned by the Ofer Group.
International Subsidiaries: UMTB Securities (US), United Mizrahi Overseas Holding (Holland), United Mizrahi Bank (Switzerland), United Mizrahi Global (Cayman), United Mizrahi Financial (UK).
The bank operates representatives in Germany, US, Panama, Mexico and Uruguay.
A subsidiary of the bank, British-Israel investments (subsidiary of Melisron of the Ofer group), owns and operates Adumim Mall in the settlement of Ma'ale Adumim in the occupied West Bank.
Israeli subsidiaries include: Yahav Bank for Government Employees (50%), Adanim Mortgage Bank, Kalia investments for development of the northern Dead Sea.
Mizrahi Tefahot's trust company fully owns Office Depot Israel.
The bank's IT system was provided by Matrix.
HP and Matrix supplied and operates an infrastructure upgrade project of bank Yahav's core banking systems.
7 Jabotinsky St.
Ramat Gan, 52520
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