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Analyses on Jacob Finance (5)
- May 18, 2026
- March 11, 2026March 11, 2026
- Follow-up
Yaakov Finance: What Really Sits Behind the Real-Estate Concentration
Yaakov Finance's real-estate concentration is real, but it does not look like classic long-duration project finance. The more precise risk is correlated sector concentration, where customers, drawers, and part of the collateral all sit inside the same real-estate ecosystem even…
- Follow-up
Yaakov Finance: How Much Headroom Really Sits Above the Bank Lines
At year-end 2025, Yaakov Finance had ILS 318.5 million of unused bank-line capacity above ILS 2.531 billion drawn, but the covenant cushion above the 15% tangible-equity threshold looks much thinner and depends materially on the ILS 43 million subordinated shareholder loan. The…
- Follow-up
Yaakov Finance: Why the Reserve Fell Even as the Book Grew
Yaakov Finance ended 2025 with a larger gross credit book and a smaller reserve cushion. The lower reserve coefficient supported earnings quality, but it also rests on a model, on macro assumptions, and on a decision to put less protective weight on each shekel in the book.
Yaakov Finance 2025: The Book Is Growing, but the Cushion Still Depends on Bank Lines
Yaakov Finance ended 2025 with real book growth and better tail dispersion, but its cushion still depends on bank lines and on a shareholder loan counted inside tangible equity. Earnings look strong, but their quality also depends on a lower reserve coefficient.
