United Mizrahi Bank

Origin of United Mizrahi Bank

United Mizrahi Bank (Switzerland) Ltd. was founded in 1980 and is headquartered in Zurich. The Bank is a subsidiary of United Mizrahi Overseas Holding, Amsterdam which is fully owned by United Mizrahi Tefahot Bank Ltd., Tel-Aviv, Israel. UMTB is the third largest bank in Israel.

United Mizrahi Bank (Switzerland) Ltd. is fully regulated by the FINMA. The Bank has a very strong capital base and shows a long record of profitability.
United Mizrahi Bank has representative offices in Israel, Mexico, Panama, Uruguay and Germany.

Philosophy and Strategy
United Mizrahi Bank takes personal attention to each client regardless of the portfolio size. The Bank is giving personal service to each client and the key to success in a long-term relationship. UMBS’s decision-making process is very quick and the client has access to the senior management if he wishes.

Code of ethics

  • Creditability – the duties as employees are performed with honesty, good faith and integrity.
  • Trustworthiness – to be loyal to the Bank on one side and the personal and professional interests of the customers on the other hand.
  • Human dignity – respect the dignity of every person.
  • Excellence – to provide the best possible service to the customers.
  • Commitment – responsible and committed to the promotion of the customer’s financial interests.
  • Integrity – base the activity on integrity and the highest professional and personal standards.
  • Fairness – deal with the customers and colleagues fair and reasonably.
  • Transparency – strive for transparency and clarity in contact with customers

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Services and Solutions
United Mizrahi Bank (Switzerland) Ltd. offers private banking services. The Bank provides investment advice and execution services, and other banking products, such as multi-currency time deposits in various currencies and terms to maturity. The Bank also is involved in securities transactions, including bonds, shares, and other traded instruments, exchange-traded funds, mutual funds, tailored-made products, asset-backed loans, precious metals transactions, and mortgages on residential properties in Israel.

The team of UMBS is multilingual and is well equipped to offer its clients a full range of investment advice and execution services. UMBS has an open architecture approach which enables the Bank to provide its clients with unbiased advice. The goal is to focus on the client’s wishes and needs exclusively.

Private banking services include investment advice, a variety of execution services, mortgages, currency trading, and loans. Since 2012 UMBS can offer residential mortgages in Israel.

Risk Management
The main risks of the Bank are credit risk and operational risk. The aim is to minimize these risks. The control mechanisms are always up to date and the EDP-system is completely automated. The positions are valued and controlled daily. The competencies are limited by regulations and procedures. The Board of Directors is responsible for the overall risk policy and assesses the risks regularly. The credit facilities to customers are financed by the bank’s funds or refinanced congruently. The interest rate risk is therefore very minimal. An external legal advisor is managing legal cases.

United Mizrahi Bank is not involved in proprietary trading and sets very conservative limits for currency exposure. The market risk is therefore also very marginal.

The Board of Directors is responsible for the liquidity risk tolerance of the Bank and the risk is managed by the asset and liability management.

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Added-Value Services
Corporate Social Responsibility (CSR)

CSR is for the community in which we live and for the environment.

Investing in customers
UMBS is like the parent company Mizrahi-Tefahot Group committed to the success of all its customers. The aim is to create value over time, in all the activities. It is very important to listen to the customer’s needs to provide them with tools for their success. The Bank ensures full transparency concerning information it is required to provide to their customers.
Among the top five banks in Israel, Mizrahi-Tefahot got a score of 8.8 out of 10 in the customer survey.

Investing in the community
It is important that the Bank invests in the community. The Bank works in a manner that shows its strength and its employees are active in volunteer activities.
United Mizrahi Bank is mainly engaged in two social areas:

  • Disadvantaged children and youth are promoted
  • Non-Government Organizations and businesses who promote social causes or who employ persons with special needs

Investing in employees
Employees are very important to the Bank. They are a key component for the success, to achieve the business strategy and growth objectives for profitability and operations.
The Bank has three key principles:

  • Caring for the employee’s well-being
  • Caring for the employee’s rights
  • Creating a respectful working environment

Investing in the environment
The Bank recognizes the impact of the operations on the climate and the environment. It is important to minimize the negative environmental impact by reducing material consumption, managing environmental risks and improve energy efficiency.

Corporate Governance
The Bank adheres to accountable conduct throughout the Group. The Bank respects the law and applies corporate governance regulations and rules. The Bank acts to prevent corruption and adheres to ethical conduct.

United Mizrahi Bank – Facts & Figures

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Address Nueschelerstrasse 31
8001 Zurich
Phone +41 44 226 86 86
Website www.umbzh.ch
Year of foundation 1980
Subsidiaries
No. of employees 16
Rating S&P AA+
Chairman Eldad Fresher
Shareholder’s equity 59.447 mm CHF
Assets under Management 553.3 mm CHF
Assets under Management / Employees 34.581 mm CHF
Net profit 681’691 CHF
Net Profit / Employees 42’605 CHF
Tier 1 Ratio 76.43 %
Cost / Income Cost Ratio (CIR) 79.3 %
CEO Dan Lubash

Source: Annual Report 2017

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