Meitav Dash Investment House ended the first quarter of 2021 with a net profit of NIS 30 million

Meitav Dash Investment House ended the first quarter of 2021 with a net profit of NIS 30 million, compared to a net profit of NIS 13 million in the corresponding quarter in 2020 - an increase of 130%. Revenues amounted to NIS 280 million - an annual rate of more than NIS 1 billion and an increase of 13% compared to revenues of NIS 247 million in the corresponding period last year. Most of the increase is due to income from trading operations and income from non-bank credit activity.
Revenues in the long-term savings segment of Meitav Dash (-7.26% 2070) amounted to NIS 77 million in the first quarter, similar to revenues in the corresponding period last year. This segment continues to face an erosion in the average management fee rate, which is offset by an increase in the volume of assets under management.
Revenues in the current savings segment in the past quarter amounted to NIS 86 million, a decrease of 2.3% compared to NIS 88 million in the corresponding period last year. The change is mainly due to a decrease in income from market activity in basket funds.
Revenues in the trade (trading on the stock exchange) segment amounted to NIS 37 million, an increase of 68% compared to NIS 22 million in the first quarter of last year. The trade segment enjoyed accelerated growth in 2020 as well as in the first quarter of 2021, resulting from a record customer acquisition, and is a significant growth engine for the company.
The volume of the Company's managed assets reached a peak of NIS 153 billion at the end of the first quarter of 2021, compared with NIS 116 billion as of the end of the first quarter of 2020. As of May 19, 2021, the volume of the Company's managed assets amounted to NIS 159 billion.