Mizrahi Approves 5-Year Strategy Plan, Keeps Dividend

(Corrects dateline.)

Mizrahi Tefahot Bank Ltd.’s board approved a five-year strategy plan that envisages meeting core capital requirements by January 2014 and maintaining the existing dividend policy, according to a filing with the Tel- Aviv Stock Exchange today.

Israel’s fourth-largest bank by assets, according to data compiled by Bloomberg, said it aims to achieve a 17 percent return on equity based on the current core capital requirement of 7.5 percent.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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