Mizrahi Tefahot Reports Stable Q2 Net Profit of 1.43 Billion Shekels

Mizrahi Tefahot Bank reported a net profit of 1.428 billion shekels for the second quarter, marking a slight 1.3% decrease compared to 1.453 billion shekels in the same quarter last year. The bank's return on equity (ROE) for the quarter was 16%, down from 17.8% in the previous year’s quarter but up from 14.1% in the first quarter of 2026.

In comparison, Bank Hapoalim and Bank Leumi also released their Q2 financial results last week. Bank Hapoalim posted a net profit of 2.48 billion shekels with a 15% ROE. Excluding a special tax recently imposed by the Knesset on major banks, Hapoalim’s annualized ROE would exceed 16%. Its net profit declined by about 2.1% from 2.54 billion shekels in the same quarter last year but rose from 2.12 billion shekels in the previous quarter.

Bank Leumi reported a net profit of 2.83 billion shekels in Q2, an 8.5% increase year-over-year, with an ROE of 16.3%, slightly up from 16.2% last year. Without the impact of the special bank tax, Leumi’s net profit would have been approximately 3.1 billion shekels, with an ROE of 17.9%.