Odeabank Registered $12.85M Profit by September, 2015

The unconsolidated financial statements of Odeabank, Bank Audi’s Turkish subsidiary, posted $12.85M net profits up to September 2015, compared to a $3.85M loss in the same period of 2014. In fact, over the same period, Odeabank’s net interest income and net fee and commissions’ income grew from $134.79M and $10.51M to $249.65M and $25.51M, respectively.

On the balance sheet, total assets revealed a 28% year-to-date (y-t-d) growth to $11.49B, as loans and receivables increased by 21% y-t-d to $7.66B. On the liabilities side, total deposits inched up 24% to $9.17B.

As for shareholders’ equity, it dropped slightly by 1% since year-start, to $463.08M, by September 2015.

Odeabank’s Financials ($M)

 30/09/201531/12/2014%chg.
Loans and Receivables                      7,657                      6,30421%
Total Assets                    11,494                      8,96828%
Total Deposits                      9,167                      7,37124%
Shareholders’ Equity                    463.08                    468.04-1%
Net Profit/loss12.85-3.85*-434%

Source: Bank Audi

(*): Figure relative to 30/09/2014

Conversion done according to 1 Turkish Lira = 0.35 USD

Leave a Reply

Your email address will not be published. Required fields are marked *