Michael Herzberg

Union Bank of Israel Ltd. engages in the provision of commercial banking services. It operates through the following business segments: Individuals segment, Business segment, Diamonds segment, and Financial Management segment. The Individuals segment covers retail and private banking services, financing services for housing and capital market, current accounts management services, investment consulting, investments in securities, deposits, credit cards, mortgages, and loans. The Business segment covers banking services to business customers and provision of credit constitutes the main activity of this segment. The Diamonds segment provides services to active clients in the Tel Aviv Diamond Exchange. The Financial Management segment includes the Nostro activities of the bank through investments in securities (mainly bonds), bank deposits, transactions in derivative financial instruments, market making, and market and liquidity exposures management. The company was founded in 1951 and is headquartered in Tel Aviv, Israel.