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Isracard Gains 250,000 Play Card Customers Despite Marketing Costs Eroding Profits
Isracard reported 11% revenue growth and a net profit turnaround in Q2 2026, driven by acquiring the Play Card license from CAL. Despite a sharp drop in core profits due to heavy marketing costs, Isracard issued over 250,000 Play Cards and expects future profitability gains.
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What happened
- 01Isracard’s Q2 2026 revenue rose 11% to 954 million shekels with an 80 million shekel net profit.
- 02Core profit fell sharply due to one-time items and heavy Play Card marketing expenses.
- 03Isracard gained over 250,000 Play Card customers after acquiring the license from CAL in March.
- 04Total active cards rose 4% to 4.84 million; transaction volume increased 9.3% to 66.84 billion shekels.
- 05Credit portfolios grew nearly 20%, led by a 31% rise in auto loan portfolios.
- 06The company is cutting costs and exploring a banking license after withdrawing from a Bank esh acquisition.
The company’s credit portfolios and transaction volumes grew significantly, while it pursues cost savings and a potential banking license.
The coverage
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