Bank Audi’s Net Profit Up by 6.67% to $121.68M in Q1 2019

The consolidated financial statements of Bank Audi revealed an annual increase of 6.67% in the profits of Q1 2019, which stood at $121.68M.

According to the bank’s balance sheet, total assets slipped by 1.62% year-to-date to stand at $46.43B. The decline was mainly justified by the persisting tough economic conditions in Lebanon and the region. Similarly, Customer loans fell by 6.27% to $12.34B of which 54% accounted for by entities outside. On the liabilities side, Customers’ deposits contracted by 1.94% y-t-d to settle at $31.07B of which 32% accounted for by entities outside Lebanon, while Shareholders’ equity rose by 2.06% to $3.96B.

Audi Bank’s Financial Highlights in Q1 2018

In millions of USD 31-Mar-19 31-Dec-18 YTD
Total Assets 46,436 47,201 -1.62%
Net loans and Advances to Customers at Amortized Cost 12,339 13,165 -6.27%
Customers’ Deposits at Amortized Cost 31,076 31,692 -1.94%
Total Shareholders’ Equity 3,966 3,886 2.06%
Profit for the Period* 121.68 114.07 6.67%

 

*March 2018

Source: BSE, Bank Audi

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