Net income for the quarter amounted to NIS 27.8 million, compared with NIS 18.3 million in the corresponding period last year, an increase of approximately 52%. The company’s shareholders’ equity as of September 30, 2021 was approximately NIS 626 million, compared with NIS 586 million in the corresponding quarter last year. The company has now announced a dividend of NIS 16 million, which constitutes 60% of the net profit for the third quarter of 2021. Since the beginning of the year, a dividend of NIS 80.4 million has been distributed – NIS 36.9 million for 2020 and another NIS 43.5 million for the year 2021. The return on capital since the beginning of the year is about 17% in annual terms. The company’s revenues in the third quarter amounted to NIS 42 million, compared with NIS 32.5 million in the corresponding period last year. As of September 30, 2021, the balance of the credit portfolio for net customers is approximately NIS 2,684,524 thousand, the balance of the securities portfolio is approximately NIS 137,860 thousand, the balance of the private debenture is approximately NIS 157,986 thousand. NIS which together constitute credit balances of 2,980,370 thousand NIS.
Shahar Oshri, chairman of the Naoi brothers group: “Advancing the goal is the first step in a long way ahead, in order to realize the company’s potential. This year we will publish a strategic plan that will include quality and quantitative goals while setting growth goals, cooperation with financial factors, diversification of resources and uses, conservative asset management And commitments, continuing to maintain a conservative risk profile and increasing profitability and leading the sector.
Naoi Brothers Group, The leading public company in the field of non-bank credit, reports record results in the third quarter of 2021 – an increase in the credit portfolio that amounted to approximately NIS 2.7 billion. This is in addition to a portfolio of securities and a private bond totaling NIS 296 million – bringing the credit balances to NIS 3 billion. It should be noted that the credit portfolio is backed by collateral in the amount of approximately NIS 1.2 billion.
The company brought forward the realization of the forecast to a credit portfolio of 3 billion which was planned for the end of the first quarter of 2022 by six months. The company shows a significant decrease in the provision for doubtful debts, while improving the credit portfolio.
In the third quarter of 2021, net profit amounted to NIS 27.8 million, an increase of 52% compared to NIS 18.2 million in the corresponding period last year. The company’s revenues in the second quarter amounted to approximately NIS 42 million, compared with approximately NIS 32.5 million in the previous quarter – an increase of approximately 29.2%. Since the beginning of the year, the return on capital has been about 17%, in annual terms.
The company reports equity of approximately NIS 626 million, compared with NIS 586 million in the corresponding quarter last year. The company announced a dividend of NIS 16 million, which constitutes 60% of the net profit for the third quarter of 2021. Since the beginning of the year, a dividend of NIS 80.4 million has been distributed – NIS 36.9 million for 2020 and another NIS 43.5 million for 2021.
As of September 30, 2021, the Company has bank lines of credit in the total amount of NIS 2,200 million to finance its current operations. In addition, the Company has capital market credit in the amount of NIS 40,750,000 in commercial securities and debentures in the amount of NIS 161,345,000.
As of the date of publication of the report, the company has bank lines of credit in the total amount of NIS 2,300 million and in addition it has expanded the existing series by an additional amount of NIS 160 million so that the total bond balance after the expansion is NIS 322 million. During the reporting period, an agreement was signed for the purchase of a private bond backed by a loan portfolio for the purchase of vehicles from a leading financing entity, amounting to approximately NIS 158 million in a maturity of approximately 1.6 years.
Shahar Oshri, Chairman of the Naoi Brothers “Quality management of the company by the controlling shareholder Dori Naoi and the company’s management team, while weighing the good market conditions and excellent financial soundness, places the company at a springboard for continued quantitative and qualitative growth. In the first step, there is a long way to go in order to realize the company’s potential. We will continue to improve the quality of the credit portfolio, increase its scope, while maintaining careful risk management. In order to reduce the risks of the company’s activities. We also intend to focus the credit portfolio mainly on the residential real estate and infrastructure industry, and are considering entering new areas, including purchasing credit portfolios from various financing bodies and accompanying projects from start to finish. The sale. “Oshri added that,” We are expected to publish the company’s strategic plan by the end of the year, which will also include the implementation of processes and methodologies of large institutional credit institutions. “
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