Like an explosion: a record profit of NIS 81 million in one quarter

The credit card company recorded growth in revenues, profits and the number of cards.

The revenues in the first half crossed the one billion shekel mark and the profit was 161 million shekels

Walla!

Of money

10/08/2022

Wednesday, August 10, 2022, 10:11 am Updated: 10:33 am

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Mark Avner from the advertisement for Khel.

A quarterly report that expresses growth in every possible parameter (photo: PR)

The Cal credit card company published this morning the financial statements for the second quarter of the year.

Cal, managed by Levy Halevi, posted a profit of NIS 81 million in the second quarter and a profit of NIS 161 million in the first half, an increase of about 15%.

At the end of the second quarter of 2022, the number of Cal cards was about 4.1 million compared to about 3.8 million cards at the end of the corresponding quarter last year, an increase of about 7%.

In the first half of 2022, the transaction turnover was NIS 71.2 billion compared to NIS 60.1 billion in the corresponding half last year, an increase of about 19%.

In the last quarter, consumer credit balances increased by about 22% compared to the corresponding period last year.

As of June 30, 2022, the total credit portfolio was NIS 7.5 billion, an increase of about 24% compared to last year.

Cal also grew in revenue, by 26 percent in the first half to revenues of NIS 1.16 billion.

Levy Halevi, CEO of Cal: "More significant projects are expected to be launched" (Photo: Rami Zerniger)

Levi Halevi, CEO of Kal

, said: "Kaal concludes the first half with a record profit of NIS 161 million and revenues of over NIS 1 billion.

The increase in profitability is against a background of significant growth in all business parameters, including an increase in consumption, with an emphasis on overseas cycles, and growth in credit demand. At the same time, we continued to develop the credit and payments platform that strengthens Kal's technological leadership, and we are expected to launch more significant projects that will create competition and bring innovation And real news to the market."

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