Net Profit of Bank Audi’s Egyptian Subsidiary Up to $38.67M as of June 2015

According to the financial statements of Bank Audi’s Egyptian subsidiary, net profit surged by 31.47% year-on-year to reach $38.67M. Higher profits came about as net interest income grew from $50.22M at the end of June 2014 to $61.89M at the end of June 2015 and as net income from fees and commissions rose from $12.18M to $18.08M over the same period.

The balance sheet of Bank Audi’s Egyptian subsidiary revealed an 18.30% year-to-date rise in total assets to $4.62B with loans to customers growing by 19.27% to $1.92B as at the end of June 2015.

Customers’ deposits also advanced by 16.61% year-to-date to reach $4.05B while shareholders’ equity slid by 4.48% year-to-date to reach $307.6M. 

According to the financial statements of Bank Audi’s Egyptian subsidiary, net profit surged by 31.47% year-on-year to reach $38.67M. Higher profits came about as net interest income grew from $50.22M at the end of June 2014 to $61.89M at the end of June 2015 and as net income from fees and commissions rose from $12.18M to $18.08M over the same period.

The balance sheet of Bank Audi’s Egyptian subsidiary revealed an 18.30% year-to-date rise in total assets to $4.62B with loans to customers growing by 19.27% to $1.92B as at the end of June 2015.

Customers’ deposits also advanced by 16.61% year-to-date to reach $4.05B while shareholders’ equity slid by 4.48% year-to-date to reach $307.6M.

 

Financial Highlights of Bank Audi’s Egyptian Subsidiary

USD

Jun-15Dec-14% chg.
Total Assets

4,618,912,253

 3,904,444,12518.30%
Loans to Customers

1,924,560,425

 1,613,629,859

19.27%

Customers’ Deposits

 4,048,091,599

 3,471,588,928

16.61%

Total Equity

307,602,643

 322,040,824

-4.48%

Net Profit

 38,669,53029,414,189(*)

31.47%

Source: Bank Audi

(*) Value of June 2014

Conversion to USD was done according to 1 USD = 7.83 EGP

 

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