After a loss last year: CAL reports a 10% rise in adjusted net profit in the third quarter

CAL, the credit card company controlled by Discount Bank and led by Yafit Geryani, reported a net profit of NIS 99 million in the third quarter of 2026, compared to a loss of NIS 88 million in the same quarter last year. Excluding a one-time event, adjusted profit rose about 10% to NIS 99 million. Revenues increased 2% to NIS 889 million. In the first nine months, net profit reached NIS 281 million, more than double the entire 2025 profit.

CAL, the credit card company controlled by Discount Bank and led by Yafit Geryani, reported a net profit of NIS 99 million in the third quarter of 2026, compared to a loss of NIS 88 million in the same quarter last year. The loss last year was mainly due to a one-time provision related to a VAT assessment ruling. Excluding the provisions, adjusted profit rose about 10% compared to NIS 90 million in the same quarter. Revenues totaled NIS 889 million, up 2%, with credit card transaction revenues up 2% to NIS 610 million and net interest income up 6% to NIS 266 million. Total expenses fell to NIS 750 million from NIS 980 million, mainly due to the absence of one-time expenses. In the first nine months, CAL recorded a net profit of NIS 281 million, more than double the profit for all of 2025 (NIS 129 million). The results come at a sensitive time: in April, El Al's Flycard club moved to Isracard, and CAL launched a new club called Flyall. Meanwhile, the agreement to sell CAL to the Union Group of George Khourash and Harel Investments expired, and Discount Bank is preparing to open a new data room for the sale of its shares, as it is required to divest its holdings by April 2027.