Hyposwiss Private Bank Genève SA agreed to acquire United Mizrahi Bank (Switzerland) Ltd. from Mizrahi Tefahot Bank Ltd. (TASE:MZTF) on January 12, 2021. After the deal, United Mizrah Bank (Switzerland) Ltd will be renamed and operate as a Zurich branch of Hyposwiss. The takeover will bolster Hyposwiss's position in the domestic market and will re-establish its operations in Zurich. The transaction is subject to approval by Swiss financial watchdog Finma.