Mizrahi Tefahot Bank (TASE: MZTF), headed by Moshe Lari, posted a net profit of NIS 1.43 billion for the second quarter of this year, 1.6% lower than in the corresponding quarter of 2025. The bank’s return on equity was an annualized 16%, down from 17.8% in the corresponding quarter, among other things because of the surtax imposed on the banks.
In the first half year, the bank’s net profit was NIS 2.67 billion, 2.7% lower than in the first half of 2025, and its annualized return on equity was 15%, down from 17% in the first half of 2025.
Mizrahi Tefahot Bank has a market cap of NIS 61 billion, making it Israel’s third largest bank in those terms, after Bank Leumi and Bank Hapoalim. In the past year its share price has risen by 13%.
Mizrahi Tefahot has declared a dividend of NIS 714 million, 50% of its profit. Mizrahi Tefahot Bank and First International Bank of Israel are the last two remaining of Israel’s major banks with controlling shareholders. In the case of Mizrahi Tefahot Bank these are siblings David and Drorit Wertheim (20.46% through F&W Registered Partnership and M.W.Z. Holdings), and Idan Ofer (20.96% through L.Y.N. Holdings).
At the end of June 2026, Mizrahi Tefahot Bank’s portfolio of credit to the public totaled NIS 423.7 billion, up 12.5% year-on-year. Deposits from the public totaled NIS 474.4 billion, up 13.7%. The bank’s efficiency ratio was 33.9%, higher (i.e., less efficient) than those of Bank Leumi and Bank Hapoalim, but much better than those of Discount Bank and First International Bank, which had ratios of over 40%.
Published by Globes, Israel business news - en.globes.co.il - on August 17, 2026.
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