ICC's record: a profit of NIS 80 million and a dividend of NIS 340 million
The credit card company grew by 33% in profit and 24% in revenue in the first quarter of the year.
CEO Levy Halevi: "Although the removal of aviation restrictions and the opening of the sky were only in the second half of the quarter, we saw rapid growth in overseas turnover also relative to the first quarter of 2019, pre-Corona"
Sunday, 22 May 2022, 09:53 Updated: 10:11
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ICC credit card company earned NIS 80 million in the first quarter of 2021. This is according to the financial report published this morning.
ICC recorded tumors in all business parameters.
Net profit increased by 33% compared to profit in the corresponding quarter last year, revenues grew by 24%, the credit portfolio also grew by 24%, transaction turnover increased by 21% and the number of cards by 8%.
In the first quarter, it launched as an advanced technology platform for payments and credit, which helped the company reach a cooperation agreement with Electra Consumer and Beat in establishing a joint club as well as marketing loans with Paz through the yellow app.
ICC announced today that in recent days it has paid its shareholders - Discount Bank, which holds 72%, and the International Bank, which holds 28% a dividend of NIS 340 million.
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Levy Halevi, CEO of ICL. Record results (Photo: None)
Levy Halevi, CEO of ICC
, said: “ICC continues to present strong performance that is reflected in the profit line and all business parameters.
The gradual return to routine, following the corona plague, has led to a change in the macro environment with an increase in private consumption, which is reflected in a significant increase in transaction cycles and an increase in demand for credit.
In addition, although the removal of aviation restrictions and the opening of the sky were only in the second half of the quarter, we saw rapid growth in overseas turnover also in relation to the first quarter of 2019, pre-Corona.
Halevy added that "this quarter we launched a credit and payments platform and signed agreements for strategic collaborations, based on the platform's capabilities, and implemented in the digital wallets of Beat, Facebook, Paz and more."