Isracard CEO Haim Krupsky: The company’s activity will grow 25% to NIS 68 billion by 2008.
“Bank Hapoalim (LSE:BKHD; TASE:POLI) is still considering floating Isracard Ltd., or bringing in a partner, in order to create value. I don’t know when an issue will be held, but I believe that if it is, Isracard will be the first credit card company in Israel to go public,” said Isracard chairman Dan Dankner, who is also a partner in the controlling interest in Bank Hapoalim. He made the comment during a press conference marking Isracard’s 30th anniversary.
Isracard CEO Haim Krupsky revealed data about the company’s business: it has issued 2.2 million credit card, has 1.7 million customers, and a turnover of NIS 49 billion a year. He predicted that the company’s activity would grow 25% over the next three years to NIS 68 billion by 2008, and that total credit card turnover would reach NIS 150 billion that year. He also predicted that Isracard would have 2.5 million credit cards in circulation in 2008.
Krupsky also announced the launch of a number of new products, including loans. From September, Isracard will offer loans up to NIS 30,000. It will also enable customers to pay for parking by credit card. It will also issue a new Mastercard international debit card for young persons and for people who travel abroad infrequently.
Published by Globes [online], Israel business news - www.globes.co.il - on August 3, 2005