Discount Bank will provide financing of NIS 200 million to the public transportation company Galim Hanegev

Discount Bank continues to expand its credit transportation business. The level of risk for banks in this area is considered low, and it yields stable flows over a long period of time.
As part of this activity, Discount's business division will provide financing of NIS 200 million to the public transportation company Galim Hanegev Western, for the operation of the cluster of public transportation lines in the Rahat and the western Negev area. Galim is owned by Galim Narkis Gal - owned by the Alassad family and Otto Chen of the Bellilios Group, which controls Superbus. The funding will be used by Galim to purchase a new bus fleet and to pay royalties to the state.
Narkis Gal Shuttle was founded 25 years ago, and owns more than 25 buses that operate on more than 15 public transportation lines. Last December, the company won the tender for a period of ten years, and will continue to operate the cluster (currently carried out by the Galim Urban Renewal Group) while expanding the service on new intercity bus lines between Rahat and the surrounding cities - Beer Sheva, Ashkelon and Sderot. In addition, the company will overcome lines that are in high demand and provide service to new neighborhoods and areas in the cities of Netivot and Ofakim.
For Discount, this credit transaction joins other public transportation clusters that the bank has funded in recent years, including the Rosh HaAyin-Petah Tikva and Ashdod (urban) clusters of Afikim, the Ono-Elad clusters and Beitar Illit of Kavim, the northern Negev cluster of Dan in the south, and more recently The Matron cluster in Haifa of the Superbus Group. The cumulative volume of these transactions is several billion shekels.