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Mizrahi Tefahot Reports Slight Profit Drop Despite Higher Revenues, Maintains High Dividend

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First reported by Calcalist · 5 hours ago

What happened

Mizrahi Tefahot Bank reported a slight net profit decline in Q2 2026 due to a special tax on bank profits, despite increased revenues. The bank maintained a high dividend payout, distributing half of its quarterly net profit to shareholders. Its stock fell following the report, reflecting broader banking sector trends.

01Mizrahi Tefahot's Q2 2026 revenues rose 9.1% from the previous quarter to 3.802 billion shekels.
02Net profit fell 1.7% year-over-year to 1.428 billion shekels, mainly due to a special bank tax.
03Return on equity declined by 1.7% compared to Q2 2025.
04The bank declared a dividend of 714 million shekels, 50% of net profit for the quarter.
05Controlling shareholders will receive nearly 300 million shekels in dividends.
06The bank's stock dropped 2.3% after the report, following a sector-wide decline.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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