Bank Mizrahi Tefahot is Israel’s Most Profitable Bank
Written by: Aaron Katsman | March 31, 2009
While most global banks are losing more money than anyone could ever dream of, the Israeli Bank Mizrahi Tefahot, keep chugging along making money.
According to Globes: “Mizrahi Tefahot Bank (TASE:MZTF) today published its financial report for the fourth quarter and full year of 2008. Israel’s fourth largest bank posted a net operating profit of NIS 601 million for the year, 11.7% less than the NIS 681 million in 2007, but nonetheless more than the aggregate full-year profit of all of Israel’s banks.”
Commenting on the results Chairman Jacob Perry said, “Our results justify the superlatives said about us over the past year. We are pleased.”
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