Norway fund divests from Israeli banks, Mizrahi Tefahot stock affected

Published on 10/13/2026 at 10:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Norway's fund sold stakes in five Israeli banks on October 12, 2026. Mizrahi Tefahot stock was among them as profit hit ILS 1.43 billion.

Key points in brief

Norway's sovereign wealth fund withdrew USD 661 million from five Israeli banks, including Mizrahi Tefahot, on October 12, 2026.
Mizrahi Tefahot reported ILS 1.43 billion in net income for the second quarter of 2026, up from ILS 1.24 billion in the first quarter.
A class action over current-account interest covers four banks and alleged damages of ILS 3.62 billion to ILS 5.06 billion.
Mizrahi Tefahot's next reported earnings date is November 25, 2026.

Mizrahi Tefahot Bank, IL0006954379, Illustration mit AI erstellt.

Norway's Government Pension Fund Global withdrew USD 661 million from five Israeli banks on October 12, 2026, including Mizrahi Tefahot Bank (IL0006954379), according to Arab News. The decision adds an ethics-related overhang to a bank that had reported ILS 1.43 billion in net income for the second quarter of 2026.

Three dated events shape the stock

On February 28, 2026, Simply Wall St reported that Mizrahi Tefahot earned ILS 5.63 billion in fiscal 2025, up 3.2 percent from fiscal 2024. On August 18, 2026, the same source reported second-quarter revenue of ILS 3.71 billion and net income of ILS 1.43 billion, while earnings per share of ILS 5.49 was 5.9 percent below consensus.

The latest event came on October 12, 2026, when the Norwegian fund named Mizrahi Tefahot among five Israeli banks from which it withdrew investments. The combined USD 661 million figure covers all five banks, not Mizrahi Tefahot alone, so it does not quantify the bank's individual disposal.

What does the legal case mean?

On October 11, 2026, Globes reported that a Lod District Court allowed a class action against Mizrahi Tefahot and three other banks to proceed over interest on current-account balances. Claimants estimate total damages at ILS 3.62 billion to ILS 5.06 billion, while the case concerns banking activity from 2022 through 2025.

The ruling allows the claim to proceed but does not establish liability or a payment obligation. For Mizrahi Tefahot, the key financial question is whether the case produces a provision or other expense later; the cited damages figure is for the group of banks and is not a bank-specific charge.

Next reporting date is November 25

TradingView lists November 25, 2026, as Mizrahi Tefahot's next earnings date. The second-quarter comparison gives investors a clear baseline: net income rose from ILS 1.24 billion in the first quarter to ILS 1.43 billion in the second quarter, while revenue reached ILS 3.71 billion.

Market context and company identity

Finance data place Mizrahi Tefahot's market capitalization at ILA 58.9 billion as of October 13, 2026. Global Banking and Finance Review identifies the bank as MZTF.TA on the Tel Aviv Stock Exchange under ISIN IL0006954379.

The further course of trading depends on the market's assessment of the ethics-related divestment, the legal process and the bank's next earnings update. Market context: Market report TA-35.