Bank Audi’s Net Profit UP by an Annual 24.74% in H1 2018

According to Bank Audi’s unaudited consolidated financial statements, the bank’s Net profit for 2018’s first half (H1) totaled $265.39M compared to $212.76M in the same period last year.

The Net interest margin increased from $534.4M in H1 2017 to $582.08M in H1 this year.

Meanwhile, Total assets of the bank grew by 2.53% since year-start to $44.859B, with Loans and advances to customers at amortized costs recording a downtick of 10.7% year-to-date (y-t-d) to $14.454B.

In fact, the Net Fee and commission income dropped by 17% in H1 2018 compared to the same period last year at $105.28M. In addition, the provisions grew by 219.65% compared to the same period last year to stand at $291.13M.

As for the total Shareholders’ equity, it decreased by 3.89% y-t-d to $4.025B. Meanwhile, Customers’ deposits dropped by 6.26% since year start to settle at $30.889B in H1 2018.

Audi Bank Financials: H1 2018

(In millions of US$) Dec-17 Jun-18 YTD
Total Assets 43,751 44,859 2.53%
Net Loans and Advances to Customers 16,186 14,454 -10.70%
Customers’ Deposits 32,953 30,889 -6.26%
Shareholders’ Equity 4,188 4,025 -3.89%
Profit after tax 212.76* 265.39 24.74%

*Value of June 2017

Source:  Bank Audi, BSE

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