  We theoretically predict that the critical current $I_c$ and magnetization
$M$ of hybrid superconductor/normal-metal (SN) strip may have nonmonotonous
dependence on perpendicular magnetic field - so called peak effect. In contrast
to familiar peak effect, which is connected either with vortex entry to the
superconductor or with peculiarities of vortex pinning, the found phenomenon
exists at low fields, in the vortex-free (Meissner) phase. We argue that the
effect appears at specific parameters of studied hybrid structure when its
in-plane current-supervelocity relation has two maxima. We expect that the same
peak effect may exist in two-band superconductors (like MgB$_2$) where similar
current-supervelocity dependence was predicted at low temperatures.
