The consolidated financial statements of Bank Audi in 2017 revealed an annual increase of 3.52% in the profits of Q1 2018, which stood at $114M, of which 42% from entities outside of Lebanon.
According to the bank’s balance sheet, total assets slipped by 0.62% y-t-d to stand at $43.48B mainly justified by the devaluation of the Turkish Lira against the dollar. Similarly, Customer loans fell by 4.51% to $15.46B. On the liabilities side, Customers’ deposits contracted by 3.74% y-o-y to settle at $31.72B, while Shareholders’ equity rose by 2.07% to $4.28B.
Audi Bank’s Financial Highlights in Q1 2018
|In millions of USD||31-Mar-18||31-Dec-17||YTD|
|Net loans and Advances to Customers at Amortized Cost||15,456||16,186||-4.51%|
|Customers’ Deposits at Amortized Cost||31,723||32,954||-3.74%|
|Total Shareholders’ Equity||4,275||4,188||2.07%|
|Profit for the Period*||114.08||110.20*||3.52%|
Source: BSE, Bank Audi