The non-bank credit company
SS Accord
+3.23%
Base:5,726
opening:5,726
High:5,959
low:5,726
change:1,155,058
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Adi Zim reports that net financing income in the fourth quarter increased by 50.4% to NIS 29.7 million, compared with NIS 19.7 million in the corresponding quarter in 2020.
Financing revenues all increased by 37.2% to NIS 36.1 million, compared with NIS 26.3 million a year earlier. The company ended the quarter with a net profit of NIS 19.9 million, an increase of 46.1%. The rate of financing expenses and the cost of income in the quarter amounted to approximately 17.7% of financing income, compared with approximately 24.9% in the corresponding quarter last year.
At the end of 2021, the company’s credit portfolio amounted to NIS 1.14 billion, an increase of 51.0% compared to the end of 2020. In the meantime, until the date of publication of the report, the portfolio continued to grow and currently amounts to NIS 1.3 billion.
The balance of the provision for credit losses at the end of the year amounted to NIS 26.1 million, compared with NIS 20.6 million at the end of 2020. Equity at the end of last year amounted to NIS 279.3 million, an increase of 14.3% compared to NIS 244.3 million at the end of 2020. The increase is mainly due to net profit In the amount of NIS 70.6 million, less dividends paid in the amount of NIS 36 million.
Bass Accord announced a final dividend for the year in the amount of NIS 4 million, after NIS 28 million already distributed for the results of the previous quarters of the year. It should be noted that during the quarter, the investigation file that began in June 2016 against the company and against Zim was closed and all of its seized assets and the company’s deposit deposited as part of the case were released.
Adi Zim, controlling shareholder in SSR chord: “In 2021 and of course also at the beginning of 2022, the company continued to expand its activities with the banking corporations to provide additional credit and improve terms with them, and with the capital market through the series of bond extensions, with a cumulative amount of NIS 240 million. The company and its management. We intend to continue doing value-bearing work for the company’s shareholders. ”
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