Phoenix Holdings Consolidates Credit score Actions in Phoenix-Gama Platform

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TEL AVIV, Israel — Phoenix Holdings Ltd., a number one Israel-based monetary, insurance coverage, and funding group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Firm”), in the present day introduced that it’s consolidating its credit score actions in fully-owned platform Phoenix-Gama as a part of its technique to unlock and create worth by way of development throughout its companies.


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The consolidation consists of the switch of Phoenix Development Finance from Phoenix Insurance coverage to Phoenix-Gama to supply an intensive worth proposition to the Group’s shoppers and the administration of a big credit score portfolio below a single specialised platform. This can permit for elevated enterprise focus and permit Phoenix-Gama to leverage economies of scale, a number one model, sturdy monetary resilience, and superior credit score underwriting and administration capabilities. The consolidation will even maximize synergies between the Group’s varied credit score actions, making a platform with important development potential.

The credit score phase is without doubt one of the Firm’s 4 core actions, and the consolidation is the newest in a collection of actions, together with assuming management after which taking Gama personal by finishing a full tender provide for Gama, geared toward establishing a big credit score platform with sturdy aggressive benefits. As a part of the consolidation, Erez Yosef the Chairman of Phoenix-Gama, can be appointed because the chairman of the development financing firm, and likewise because the chairman of Phoenix’s shopper credit score actions that are being launched. Phoenix’s administration believes that the consolidation of credit score actions in Phoenix-Gama will maximize worth on the group stage and can allow synergies inside the group.

The switch of Phoenix Development Finance, led by the CEO Galit Vinder Tepper, to Phoenix-Gama, which already has a big credit score portfolio, with extra annual quantity of roughly NIS 40 billion in bank card actions, cements Phoenix-Gama’s place as one of many largest corporations within the Israeli credit score market. Within the final couple of years, Phoenix-Gama has managed to considerably enhance its profitability and its different key monetary metrics, greater than doubling the Group’s credit score and ensures portfolio, with a double-digit improve within the variety of shoppers, whole turnover and revenue.

Phoenix-Gama has a singular product vary and blend with a buyer base of 15,000 companies, creating aggressive benefit and managerial flexibility below altering market situations.

Eyal Ben Simon, CEO of Phoenix Holdings: “The Phoenix’s credit score actions have been a strategic development engine for the Group, and we imagine that the restructuring will speed up development and considerably contribute to worth maximization. The focus of a lot of the Phoenix’s credit score actions below the administration of Phoenix-Gama will allow us to maximise the potential of the Firm’s present credit score actions whereas providing optimum credit score and financing options to our shoppers. Erez Yosef has led an enchancment in Phoenix-Gama’s efficiency, and I’m assured that the consolidation of credit score actions below his management will drive important development on this phase. On the identical time, the switch of development finance actions to Phoenix-Gama will launch important capital from Phoenix Insurance coverage, bettering the insurance coverage firm’s Solvency ratio. We imagine our technique will additional leverage our aggressive benefits and permit us to attain a big market share within the credit score market, strengthening our place because the main Israeli finance and insurance coverage group.”

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Erez Yosef, Chairman of Phoenix-Gama: “The consolidation of our credit score actions is an incremental strategic motion to strengthen the Firm’s place as a dominant power within the discipline of enterprise credit score. The switch of the development financing actions to Phoenix-Gama will permit us to extend market share and seize synergies. We count on to considerably strengthen Phoenix-Gama’s fairness and develop and diversify future revenues with the potential for important worth creation within the coming years.”

Galit Vinder Tepper, CEO of Phoenix Development Finance: “The restructuring of Phoenix’s credit score actions will allow the Firm to supply many extra high-quality financing options for residential development tasks. By addressing the wants of a variety of shoppers, the Group will create new sources of financing to increase its actions whereas creating synergy with Phoenix-Gama’s enterprise credit score actions.”

About Phoenix Holdings

Phoenix Holdings is a number one Israel-based monetary, insurance coverage, and funding group traded on the Tel Aviv Inventory Alternate (TASE: PHOE). Group actions embrace multi-line insurance coverage, asset administration, credit score, and monetary product distribution, and have demonstrated sturdy development and efficiency throughout the cycle. Phoenix serves a good portion of Israeli households with a broad set of actions and options throughout companies and shopper segments. Managing over $110 billion in property, Phoenix accesses Israel’s vibrant and revolutionary financial exercise by way of a strong funding portfolio, creating worth for each shoppers and shareholders.

About Phoenix-Gama

Phoenix-Gama is the SME financing platform of the Phoenix group, offering financing options and monetary companies to companies for over 25 years. The corporate offers monetary companies to over 15,000 companies in Israel throughout a number of segments, together with bank card clearing and factoring, actual property financing, enterprise loans, and ensures. The Firm was assigned an AA3 ranking by Midroog and its bonds are listed on the Tel Aviv Inventory Alternate.

About Phoenix Development Finance

The Firm is engaged within the financing of residential development tasks together with hundreds of residential models at varied levels of financing and development. The Firm offers a complete response to all shopper financing wants, together with senior credit score, credit score for supplemental capital, and ensures. The Firm’s intensive expertise consists of personal and public improvement tasks in addition to city renewal.

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For additional data, please contact:

David Alexander
Phoenix Holdings, Deputy CEO
Tel: +972 (3) 733-2979

Robert Brinberg
Rose & Firm
Tel: +1 (212) 517-0810


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