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Workers of the United Mizrahi Bank Group, which includes Mizrahi, Tefahot mortgage bank and Machish computer company, will be receiving an extra half a month's pay as a bonus on the occasion of the merger between Mizrahi and Tefahot. The payment will cost the bank NIS 17 million.

In a letter to all employees, Mizrahi CEO Eli Yones wrote, "This payment is a unilateral gesture on the occasion of the merger of Mizrahi and Tefahot." He added that the payment should be seen as a sign of "good will" and the launch of a "new era at the bank."

The bonus will also be paid to those bank employees who will be leaving the bank on voluntary redundancy terms based on 250 percent of the legal requirement.