Bank Audi’ Profits Substantially Rise in H1 2017

The consolidated financial statements of Bank Audi, in the first half of 2017, witnessed a yearly rise of 36.52% in profits to $308M and “$213M excluding net profits came from the sale of the Card and Electronic Payment process and acquiring activities, of which 20% from Odea Bank and 11% from Bank Audi Egypt, raising the contribution of entities abroad to consolidated net profits to 49%.”

The banks’ balance sheet showed that total assets slightly fell by 0.89% to $43.87B since year start and that customer loans rose by 2.55% since year start to $17.51B. On the liabilities side, customers’ deposits showed a 0.98% rise since year start to $35.76B, and shareholders’ equity increased by 3.34% year-to-date to $3.82B.

Audi Bank’s Financial Highlights for H1 2017

In millions of USD 30-Jun-17 31-Dec-16 YTD
Total Assets                  43,871                  44,267 -0.89%
Net loans and Advances to Customers at Amortized Cost                  17,506                  17,069 2.55%
Customers’ Deposits at Amortized Cost                  35,761                  35,416 0.98%
Total Shareholders’ Equity                     3,822                     3,698 3.34%
Profit for the Period                        308                        226* 36.52%

 *June 30, 2016

Source: Audi Bank, Beirut Stock Exchange

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