Credit expenses increased (freepik photo, Magma Images)
ICC published today (Monday) its summary report for 2021, in which it reported a net profit of NIS 271 million in total, compared with NIS 90 million in the corresponding period last year (excluding one-time events), an increase of about 202%. In the fourth quarter of 2021, ICC’s net profit was NIS 40 million, compared with NIS 23 million in the corresponding quarter last year (excluding one-time events), an increase of approximately 74%.
An increase in the number of tickets, at the end of 2021, the number of ICC tickets was about 4 million, compared to about 3.7 million tickets at the end of 2020, an increase of about 7%. Growth in the turnover of transactions with ICC cards – in 2021, the turnover of transactions was approximately NIS 129 billion, compared with approximately NIS 108 billion in the corresponding period last year, an increase of approximately 19%. In the fourth quarter of 2021, the turnover of ICC card transactions was about NIS 35 billion, compared with about NIS 28 billion in the corresponding quarter last year, an increase of about 24%.
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Credit – Since the beginning of 2021, the consumer credit portfolio has increased by approximately 12%, and in the fourth quarter of 2021, consumer credit balances have increased by approximately 6% compared to the previous quarter. All this, against the background of a return to routine that led to an increase in demand for credit. As of 31.12.2021, the total credit portfolio was approximately NIS 6.7 billion, compared with approximately NIS 6.0 billion on 31.12.2020, an increase of approximately 13%.
Decrease in expenses for credit losses – in 2021, revenues in the credit losses item amounted to NIS 9 million, compared with expenses of NIS 223 million in 2020. In the fourth quarter of 2021, expenses for credit losses amounted to NIS 9 million, compared with NIS 33 million in the corresponding quarter last year. A decrease of about 73%.
Levi Halevi, ICC’s CEO said: “ICC concludes 2021 with a record profit of NIS 271 million and a record revenue of NIS 2 billion, along with strong growth in all areas of the company’s operations. “Along with the significant increase in all business parameters, we have continued to develop advanced technological capabilities to create real value for our customers and business partners.”
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