Isracard: Revenues in 2021 grew by about 12% to about NIS 2.3 billion

Isracard publishes the fourth quarter reports of 2021 summarizing an excellent year for the credit company: The annual net profit amounted to NIS 343 million, compared to NIS 93 million last year, an increase of 269%
The net profit reflects a return on average capital of approximately 13.1%, the company's board of directors approved the distribution of a dividend of NIS 120 million.
• A record turnover in credit card transactions that reached NIS 186 billion, reflecting an increase of approximately 17.3%.
• Revenues in 2021 grew by about 12% to about NIS 2.3 billion.
• A 75% decrease in expenses for credit losses, which amounted to NIS 62 million, compared with NIS 247 million in 2020.
• Isracard returns to show growth in credit to private individuals - grew by 1.1% to NIS 4.11 billion compared to the end of 2020 and by 5.2% compared to the end of the first half of 2021.
• Growth of about 6% in the balance of commercial credit compared to the end of 2020, to about NIS 945 million.
• The implementation of an efficiency plan created a total annual savings of about NIS 50 million for the coming years.
Ran Oz, CEO of the Isracard Group: "Isracard enters 2022 as a leading player with strong momentum in all our lines of activity. We have defined business targets that will enable a competitive advantage based on technology and data for the group. We believe that the meeting between technology and data and the company's broad and diverse base of activity will enable our continued leadership to the next generation of advanced financial services, while appealing to new audiences. "