ODEABANK, Bank Audi’s Turkish subsidiary, recorded a year end net profit of $132,443 in 2014 compared to a net loss of $52.31M witnessed in 2013. In details, interest income surged by 143.30% year-on-year (y-o-y) to $625.12M, outpacing the annual 97.80% growth in interest expense to $403.79M.
In the balance sheet, total assets rose from $6.15B in 2013 to $9.78B by December 2014.In addition, “total loans and receivables” recorded a yearly 58.77% increase to $6.87B.
On the liabilities side, 2014’s year-end deposits amounted to $8.04B comparing to $4.72B recorded in 2013.
Total Shareholders’ equity remained almost constant above the $500M mark.
2014’s Financial Highlights
|Customer’s deposits ($B)||8.04||4.72||70.23%|
|Net Loans & advances to customers ($B)||6.87||4.33||58.77%|
|Total assets ($B)||9.78||6.15||59.05%|
|Total Sharholders’ Equity ($M)||510.40||508.03||0.47%|
|Net Profit/Loss ($M)||0.132||(52.31)||100.25%|
Source: BSE News, Audi Website