Leumi Card predicts lower profits in 2012
News from Globes:

Credit card company Leumi Card Ltd. posted a higher net profit for the third quarter of 2011, but predicts lower profits in 2012.

Net profit rose to NIS 47 million for the third quarter, from NIS 46 million for the corresponding quarter, reflecting a return on equity of 19%. Thanks to good results for the first half of the year, the company posted a net profit of NIS 134 million in January-September, 13.6% more than for the corresponding period of last year, and expects to report record full-year profits.

Credit card use rose 8.1% to NIS 38.2 billion in January-September, including NIS 9.9 billion by non-bank credit cards, up 17%. Credit card use in the third quarter rose by 6.6%.

Leumi Card CEO Tamar Yassur said, “Since August, and throughout the third quarter, the growth in credit card use has slowed, and we expect this to continue. The slowdown in consumption will continue into 2012, a…………… continues on Globes

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Related News:

Sweet rewards for those with good credit
News from The Seattle Times:

Originally published November 26, 2011 at 10:01 PM | Page modified November 26, 2011 at 11:15 PM

Don’t automatically shred those credit-card offers arriving in your mailbox. They just might contain an attractive rewards program.

Card issuers grew stingy with rewards during the credit crunch and while they waited to see how much federal legislation would hurt their bottom line, card experts say.

But now those matters are behind them, and banks have been reviving rewards to make their cards stand out.

“They are back, and they are back with a vengeance,” said Curtis Arnold, founder of CardRatings.com, a credit-card comparison site.

Two-thirds of credit-card offers in September featured a reward or rebate, according to Synovate, which tracks direct-mail solicitations. Though that’s less than in June, rewards since that time have become more generous, said Synovate’s Roy Persson.

Cards of…………… continues on The Seattle Times

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