The non-bank credit company
Opel Balance
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Reports in the fourth quarter that revenues during the fourth quarter of 2021 amounted to NIS 19.8 million, an increase of 48% compared to the corresponding period then, when the figure amounted to NIS 13.4 million. The net profit for the quarter amounted to NIS 7.8 million, an increase of 47% compared to a net profit of NIS 5.3 million in the quarter last year.
Net financial services income, less expenses and expenses in the fourth quarter, amounted to NIS 17.3 million (87.9% of revenues), an increase of 43% compared to NIS 12.1 million (90.3% of revenues) in the fourth quarter of 2020. The customer portfolio of Opel for the quarter amounted to NIS 431 million, an increase of 52% compared to a customer portfolio of NIS 283 million in the corresponding quarter last year.
For each year 2021
Revenue from financial services In 2021 Amounted to NIS 67.2 million, an increase of approximately 17% compared to revenues of approximately NIS 57.5 million in 2020. Revenues from financial services net of HOMS and lost expenses amounted to NIS 59.6 million (88.7% of revenues) throughout the year, an increase Of about 26% compared to about NIS 47.3 million (82.3% of revenues) in 2020.
The net profit in 2021 amounted to NIS 26.9 million, an increase of about 31% compared to a net profit of NIS 20.6 million in 2020. The company stated that the increase in net profit came mainly from an increase in revenue due to an increase in the Group’s activity and a decrease in projected credit losses. On customer quality and improving the company’s customer portfolio.
The total discount transactions in 2021 amounted to NIS 1.9 billion, an increase of 18.7% compared to NIS 1.6 billion in 2020. The company announces the distribution of a dividend of NIS 4.4 million.
Opel’s chickens for 2021 amounted to NIS 2.2 million, out of a turnover of NIS 1.9 billion, about 0.12% of the company’s total discount transactions.
Danny Mizrahi, CEO of Opel Balance Investments: “Opel Balance has an excellent reputation and a huge customer base. We are ready to provide them with a complete basket of solutions that includes a wide range of financial services. “
Opel Balance Investments, a leading company in providing financial services to small and medium-sized businesses, today reports record results for the fourth quarter and 2021.
Danny Mizrahi, CEO of Opel Balance Investments: “There is a growing demand for credit and Opel Balance is prepared for this with a basket of solutions that includes a wide range of customer services, including collateral financing, mortgages for any purpose, discounting checks, clearing and more. The mortgage portfolio as of the date of the report amounts to approximately NIS 30 million and we anticipate that the growth trend of this division will continue. Accordingly, we have set a target for providing mortgages in the amount of NIS 80 million, by the end of 2022. ”
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