The regulatory burden in Israel serves the big banks and does not allow credit companies to grow. A new digital bank? It seems that the recent announcement by the Bank of Israel and the Banking Supervisor about the establishment of a new digital bank is nothing more than a sophisticated and cynical public relations exercise at the public’s expense. Furthermore, the decision to reduce the equity threshold from 300-400 million shekels to just 50 million shekels proves that the goal behind the move was to generate headlines under the guise of “encouraging competition.”
Peninsula, which provides credit to small and medium-sized companies, increased its revenue in the first quarter of 2018 by approximately 3% compared to the corresponding quarter. ■ Profit before tax increased by 7% to NIS 6.3 million.
The non-banking financing company controlled by Meitav Dash earned NIS 19.2 million in 2017 ■ The board of directors announced a dividend of NIS 12 million in April ■ Micha Avni, CEO of Peninsula: “We continue to see a multi-year trend of increasing demand for credit from small and medium-sized companies”
The Credit Union, which represents entities such as Peninsula and Opel Balance, is interested in expanding the scope of capital market funding, so that it can compete with banks in providing credit. ■ The union’s chairman in a letter to Kahlon: “We are being asked to create competition with the banks with both hands tied behind our backs”
The licenses were granted to the Peninsula Group and the Navi Group, as well as to new companies that have not yet started their operations – Prepaid and Cellario.
The investment house purchased about 3.5% of the shares outside the stock exchange for about NIS 10 million, based on a company value of NIS 300 million, and its share in Peninsula increased to 52% ■ “We believe in the potential for the company’s development”
After 20 years of finding financing solutions for businesses in a wide variety of fields, Peninsula, a public company traded on the Tel Aviv Stock Exchange, has in recent months begun providing financial support to real estate developers in the field of urban renewal.
While the war and market challenges have brought the construction industry to one of the greatest crises it has known since the establishment of the state – many construction companies continue to build Israel. One of the reasons for this is the entry of non-bank financing companies, such as Peninsula, into the picture • In a special interview, Jackie Cohen, CEO of Peninsula, emphasizes the importance of non-bank financing for the success of projects
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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.
