The largest non-bank credit body in Israel?
Peninsula goes into real estate
The Peninsula Group (from Meitav Dash) reports its intention to expand its activities to the field of real estate financing, in parallel with setting a credit portfolio of NIS 2 billion over the coming year. CEO: In Israel "
Walla!
Of money
27/12/2021
Monday, 27 December 2021, 12:44 Updated: 12:56
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A year after acquiring the diamond credit portfolio from Union Bank, this morning the Peninsula Group announces its intention to enter the field of real estate financing. Loans: (1) providing backed credit in a first-degree lien for the purpose of purchasing land for projects; (2) providing financing for the completion of equity in projects (Maznin loans); (3) Full financial support of construction projects that also includes cooperation with insurance companies that will provide sales guarantees.
With regard to the group's long-term goals, the company states that its business plan continues to be based on the desire to become "the leading group in the non-bank credit industry in Israel", in which Peninsula announces its intention to work to increase the credit portfolio to NIS 2 billion. 2022 on the basis of the existing capital structure of the company, mainly through the expansion of its existing operations and through the introduction real estate financing field. "
it should be noted that the date of publication of this report, the credit portfolio of the Peninsula in the amount of approximately NIS 1.37 billion (vs. NIS 1.04 billion as of September 30, 2021 and NIS 1.20 billion as of November 16, 2021, as specified in the Company's report for the third quarter of 2021.)
Founder and CEO of the Peninsula Group, Micha Avni
: "Our entry into the field of real estate financing is a significant milestone in turning Peninsula into the largest and leading non-bank credit body in Israel - which is a one stop shop in the field of financing.
The demand for credit for real estate ventures is at an all-time high and many factors in the industry are crying out for quality and efficient financing solutions outside the banking system. The
unique credit needs of real estate entrepreneurs require deep professionalism and understanding, Have rich experience in real estate financing.
In accordance with the long-term growth strategy decided on by the Company's management, we intend to continue to actively examine mergers and acquisitions as part of inorganic transactions, while maintaining low risk levels and consolidating collateral in the Company's credit portfolio - which the Company will increase to NIS 2 billion by the end of 2022. .
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Founder and CEO of the Peninsula Group, Micha Avni (Photo: Peninsula Group)
17 years and 15 billion
The Peninsula Group, which operates in the field of business credit, was founded in 2004 by Adv. Micha Avni. Credit solutions amounting to more than NIS 15 billion to finance business growth.
Since the company's inception, it has been growing steadily. The group is ranked ILA by S&P Maalot and ranked 2A by Midroog. Securities in Tel Aviv and are included in the Tel Aviv SME60 index and the Tel Aviv shekel index and the general Tel Bond.
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credit