Bank Audi’ s Net Profit Up by 3.52% to $114M in Q1 2018

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 USD31-Mar-1831-Dec-17YTD
Total Assets43,48343,752-0.62%
Net loans and Advances to Customers at Amortized Cost15,45616,186-4.51%
Customers’ Deposits at Amortized Cost31,72332,954-3.74%
Total Shareholders’ Equity4,2754,1882.07%
Profit for the Period*114.08110.20*3.52%

*March 2017

Source: BSE, Bank Audi

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