The anchor investors in the growing market are investment houses; the entry of institutions is helping the industry to shed its gray market image, and Peninsula’s CEO is optimistic: “The industry is expected to double in the next three years”; Opel Balance CEO warns: “The cow wants to suckle more than the calf wants to suckle, there are many credit institutions that want to offer their wares.”
The Business Support Fund will provide a 15 million shekel credit line to the low-cost chain of fitness centers. The chain has 17 discounted gyms: 60,000 people pay 99 shekels per month
The non-bank credit industry, which I have been following closely for more than 15 years, is facing a dramatic crossroads. The new regulation implemented by the previous capital market supervisor, Dorit Salinger, is supposed to lead to a reality in which only serious and professional entities that understand what it means to run a financial business to provide credit will remain in the arena.
The Association of Credit Companies at the Chamber of Commerce demands the removal of restrictions on non-bank credit companies in raising bonds and managing deposits from institutional bodies – only in this way will we increase competition with the banks and the public will benefit from discounted credit.
Peninsula was founded in 2004 against the backdrop of a credit crunch for small and medium-sized businesses. Since then, its equity has grown from NIS 12 to 150 million. One of the largest investment houses in Israel has purchased most of the company’s shares. It manages a credit portfolio of approximately NIS 1 billion and has already rolled over loans of approximately NIS 12 billion to customers.
Net profit in the first half of 2017 amounted to approximately NIS 8.6 million, an increase of 44.7% compared to the same period in 2016 ■ Approximately 45% of Peninsula’s customer credit portfolio is directed to “sub-accounting” activity, that is, checks that undergo several discounting operations at a high effective interest rate
Has over 20 years of experience in the fields of business credit, foreign trade, diamonds and real estate.In the past, she held various managerial positions at Union Bank of Israel in the field of business credit and diamonds.In her previous positions at the company, she served as a diamond credit manager and credit risk manager.She holds a bachelor’s degree from the Open University and director training from Bar-Ilan University.
Einav Plid has experience in telecommunications and pension sectors. She has over 12 years of extensive managerial experience in the fields of client relations, operations, and organization and methods. In her previous roles, she was responsible for cross-organizational processes involving the implementation of work procedures and information systems. Plid holds a Bachelor’s degree in Political Science from the Open University.
Has 16 years of experience in the field of business credit, corporate finance, real estate and diamonds.
In his previous position, he served as director of the diamond sector at Union Bank of Israel Ltd., after holding various management positions in the department of business credit.
He holds a bachelor’s degree in business administration with a specialization in finance and IT from the College of Management and a master’s degree in business administration with a specialization in finance and the capital market from the Ono Academic Campus.
Roy Maman has over 12 years of extensive experience in managing business credit. His career includes serving as a manager in the corporate department of a leading bank, as an analyst, and as a senior credit officer. In his previous role, he served as Head of Credit Risk at Peninsula. Maman holds a Bachelor’s degree in Economics from Tel Aviv University.
Michael has extensive experience accompanying public and private companies covering legal aspects in a wide array of fields, including capital and debt raising, mergers and acquisitions, commercial transactions and insolvency proceedings. Before joining Peninsula, Michael was employed as an attorney in the Capital Markets and Securities Department at Pearl Cohen law firm. Before that, he served as an attorney in the Commercial and Capital Markets department at Yigal Arnon & Co law firm, where he accompanied Peninsula as an external legal advisor when it was listed at the Tel Aviv Stock Exchange. Michael has a B.A in Law from the University of Haifa.
Nissim Laham possesses vast experience as a CFO in various public and private companies. He has held roles as CFO and board member in numerous financial institutions (including financial organizations), holding companies, industrial firms, and commercial enterprises such as Meitav Investment House Ltd., Meitav Trade Ltd., Gaon Group Ltd., and Gaon Holdings Ltd. Laham is a certified public accountant (CPA) and holds a B.B. degree in Business Administration with a specialization in Accounting from the College of Management Academic Studies in Tel Aviv.
Yafit Yehuda has over 20 years of extensive experience in managing and financing transactions, including real estate deals. She brings a deep familiarity with the financial and business sectors of the Israeli economy. Her career includes senior management roles in the Corporate Division of Mizrahi Tefahot Bank, as well as serving as Credit Manager in the Investment Division of Menora Mivtachim. She was also CEO of the Phoenix Value Urban Renewal Fund and currently serves as an external director at a public real estate company.
Jacky Cohen brings extensive managerial and financial experience, along with a profound familiarity with the Israeli business landscape across all sectors. He is known for devising creative financial solutions. His career includes a distinguished tenure as a senior executive at Bank Hapoalim, where he held several prominent managerial positions. He led the Options Unit (MAOF), managed the Financial Products Department, and later transitioned to the Corporate Division, serving as a Client Relations Manager responsible for a capital markets team. He also managed the High-Tech, Industry, and Capital Markets sector and headed the Commercial Banking Division.
In the last five years of his career at the bank, Cohen served as Head of the Corporate Division. Following his departure from the bank, he became the CEO of a non-bank financial institution.
