Bank Audi’s Net Profit Stood at $410M at the end September 2018

 According to Bank Audi’s unaudited consolidated financial statements, the bank’s Net profit for the first nine months of 2018 rose by 20% relative to the current net profits of the corresponding period of 2017 to reach $410M. In details, the “Net interest margin” increased from $807.58M by September 2017 to $903.17M . Meanwhile the “Net fees and commission income” declined by 9.04% to $163.22M by September 2018.

Total assets of the bank grew by 4.51% since year-start to $45.72B by September 2018 noting that “Cash reserves and deposits at central Banks” rose year to date  by 16.18% to stand at $15.30M by September 2018 while “Net Loans and advances to customers at amortized costs” recorded a decrease of 16.25% year-to-date (y-t-d) to $13.56B.

As for the total Shareholders’ equity, it dropped by 9.40% y-t-d to $3.83B. Meanwhile, Customers’ deposits contracted by 7.50% since year start to settle at $30.48B by Q3 2018.

Bank Audi’s Financial highlights at end of September 2018

In Millions of USD Sep-18 December 2017 YTD
Total Assets 45,723 43,751 4.51%
Net Loans and Advances to Customers 13,556 16,186 -16.25%
Customers’ Deposits 30,482 32,953 -7.50%
Shareholders’ Equity 3,827 4,187 -8.60%
Profit for the period 409.68 436.68 -6.18%

Source:  Bank Audi, BSE

Leave a Reply

Your email address will not be published. Required fields are marked *