Cal credit card company posted a profit of NIS 81 million in the second quarter of 2022

The Cal credit card company published the financial reports 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 turnover of transactions was 71.2 billion shekels compared to 60.1 billion shekels 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.
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 for the market."