Cal increased its profits 2017 by 8.1% and totaled NIS 211 million

Cal increased its profits last year by 8.1% and totaled NIS 211 million. The volume of transactions increased by 10.8% and reached NIS 80.2 billion. ICC's revenues grew 11% to NIS 1.511 billion. The number of tickets increased by 7.2% and it operated 2.6 billion tickets. The credit portfolio recorded a 17% jump and it provides credit in the amount of NIS 4.2 billion.
Doron Sapir, CEO of the company, said that the Law for Increasing Competition was a significant catalyst for the changes in the credit card market in Israel, and led ICC to formulate a tailored strategy, while creating the infrastructure for growth that we began implementing in 2017.
ICC ended 2017 with a net profit of NIS 213 million, compared to NIS 195 million last year - an increase of 9%.
The company finished 2017 with 2.6 million tickets, a 7.2% increase over last year. The number of non-bank cards stood at 1 million at the end of 2017, compared with 924,000 in the same period last year - an increase of 8.5%.
The credit portfolio that Cal provided to its customers stood at NIS 4.2 billion as at 31.12.17, compared with NIS 3.6 billion in the corresponding period last year - an increase of 17%.
The volume of transactions in Cal cards stood at NIS 80.2 billion in 2017, compared with NIS 72.4 billion in the same period last year - an increase of 10.8%.
Cal's operating profit in 2017 amounted to NIS 290 million, compared with NIS 284 million last year - an increase of 1.7%.