According to the statement of income of Bank Audi’s Egyptian subsidiary, net profit for the year 2016 rose from $32.28M in 2015 to $103.71M in 2016. Net interest income and net income from fees and commissions both rose by annual rates of 36% and 49% to reach $82.12M and $23.78M in 2016, respectively.
The subsidiary’s balance sheet revealed a 48% annual surge in total assets to $3.04B with loans and facilities to customers rising by a yearly 62.18% to $1.65B.
Customers’ deposits increased by an annual 42.08% to $2.51B while total equity rose by an annual 55.45% to $255.98M.
Bank Audi Egypt – Financials 2016
| in USD||2015||2016||YOY|
|Loans and Facilities to Customers|| 1,016,322,517|| 1,648,315,106||62.18%|
|Total Assets|| 2,051,576,680|| 3,036,412,901||48.00%|
|Customers’ Deposits|| 1,764,965,748|| 2,507,610,780||42.08%|
|Total Equity|| 164,673,035|| 255,977,586||55.45%|
|Net Profit for the Year|| 32,283,985|| 103,706,945||221.23%|
(*) Conversion from EGP to USD done on the basis of 1$ = 18.16 EGP
Source: Bank Audi