Opel Balance InvestmentsA company that provides financial services to small and medium-sized businesses, today reports record results for the fourth quarter and 2021.
Following the Corona virus crisis, Opel Balance worked to improve the company’s customer portfolio while tightening the rigorous underwriting procedure that is customary, and with the intention of ensuring the company’s stability as much as possible. The move made by Opel resulted in a point decrease in the volume of revenues starting in the second quarter of 2020, along with a significant decrease in HOMS. 0.12% of the total discount transactions of the company, in view of the strict underwriting that the company performs. The company gradually increased its customer portfolio, while maintaining a low VAT rate and showed significant growth throughout the Corona crisis period. Accordingly, the company’s customer portfolio grew by 80% of a total of NIS 240 million in the second quarter of 2020 to NIS 431 million at the end of the fourth quarter of 2021.
Revenue From financial services In the fourth quarter of 2021, they amounted to NIS 19.8 million, an increase of 48% compared to revenues of NIS 13.4 million in the corresponding quarter last year. Revenue From financial services in 2021 Amounted to a peak of approximately NIS 67.2 million, an increase of approximately 17% compared to revenues of approximately NIS 57.5 million in 2020.
Revenue Net financial services less HOMS and lost expenses In the fourth quarter of 2021, the total amount was 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. In 2021, revenues amounted to Net financial services less HOMAS and lost expenses to NIS 59.6 million (88.7% of revenues), an increase of 26% compared to NIS 47.3 million (82.3% of revenues) in 2020.
The net profit In the fourth quarter of 2021, the total profit amounted to NIS 7.8 million, an increase of 47% compared to a net profit of NIS 5.3 million in the fourth quarter of 2020. The net profit in 2021 amounted to a peak of NIS 26.9 million. NIS, an increase of about 31% compared to a net profit of NIS 20.6 million in 2020. The increase in net profit stems mainly from an increase in revenues due to an increase in the Group’s activity and a decrease in projected credit losses as part of continued customer quality and customer improvement. .
Customer portfolio Of Opel for the fourth quarter of 2021 amounted to a peak of NIS 431 million, an increase of 52% compared to a customer portfolio of NIS 283 million in the corresponding quarter last year and an increase of about 80% compared to a customer portfolio of NIS 240 million in the quarter The second of 2020 which was affected by the corona crisis.
Total discount transactions In 2021, it amounted to NIS 1.9 billion, an increase of 18.7% compared to NIS 1.6 billion in 2020.
The company announces a further division of DividendAs every quarter and for the twentieth time in total, in the amount of NIS 4.4 million.