“Already in the first two months of 2021 we are seeing a recovery in the volume of credit card turnover, and we have more or less returned to the dimensions of early 2020, from before the corona. Is this the bottleneck line or is it compensation for closures? We will know later.” This is what Ron Wexler, CEO of Isracard, tells Maariv. However, Wexler estimates that 2021 will be better than 2020 in terms of volume of turnover, also in other aspects, such as tourism. Inbound and outbound tourism has reduced NIS 155 million from revenues, and this is In a decrease of 80%, with a material effect on profit.
Tamar Yasur has been the chairman of the board of directors for the past two months. The strategic plan for the coming year will soon be completed, and at the end of 2021 the group will move to the Bnei Brak industrial zone, to an office building owned by the Tidhar Group and Clal Insurance. At 15% to 19,000 square meters. The rents in Bnei Brak will be cheaper than those in Tel Aviv, and are estimated at more than NIS 50 net per square meter. The company will implement an efficiency plan, and for that purpose, the retirement in the books is NIS 45 million.
Ron Wexler, CEO of Isracard (Photo: Sivan Farage)It intends to enter the insurance field towards the second half of 2021, when the person in charge of insurance activities will be Gilad Simchoni. Isracard intends to increase its activity in credit, enter the world of business advertising (target) and launch e-commerce for businesses. Net profit for 2020 fell by 62% to NIS 93 million. The profit after neutralizing the one-time effects decreased by 39% to NIS 181 million.
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Chairman Yasur said: “I came to the position at the end of 2020, as part of a new and professional board of directors that reflects for the first time the fact that Isracard is without a controlling interest. In 2021, we will focus on growth strategies, increase our presence in the consumer credit market and add new growth engines. “