Mizrahi Tefahot plans 13 new branches during the coming year.
Mizrahi Tefahot Bank (TASE:MZTF) intends to open 13 new branches in 2008. The new branches will be small outlets with an initial staff of up to eight people, which could be expanded in the future. Some of the outlets will be built as extensions to existing branches. Staffing at the new branches will based largely on the relocation of employees from existing branches after Mizrahi Tefahot moved time- consuming activity last year from branches to a call center and a back office.
Under Mizrahi Tefahot's plans for its retail banking division, branches will be opened in the following locations in 2008: the government office complex in Beersheva; Ashdod, the Weizmann Science Park in Rehovot; the Har Homa and Emek Refaim neighborhoods in Jerusalem; the Neve Marom neighborhood in Ramat Gan; the New Ramat Aviv neighborhood; the northern industrial zone in Ra'anana; the Neve Shaanan neighborhood and Matam Science Park in Haifa, Upper Nazareth, Bet Shemesh and Givat Shaul.
The new branches will also offer mortgage advisory services.
Published by Globes [online], Israel business news - www.globes.co.il - on January 2, 2008
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