Profit examines an unconventional move: establishing a pension activity

The Profit financial group, controlled by Assaf Banai and Shlomi Elberg, is considering an unconventional move: establishing an independent pension activity that will include managing pension funds and training funds. This means Profit will directly compete with the institutional bodies whose products it currently markets. Profit, which oversees assets totaling 130 billion shekels, is considered one of the largest financial groups in Israel. Entering the pension field would be a significant leap and raise questions of conflict of interest. The pension sector is characterized by high entry barriers and few new players; recently, Ayalon returned to it, raising 3 billion shekels. Profit stated that the possibility is being thoroughly examined but no decision has been made yet.