Bank Audi Posted a 15.18% Yearly Rise in Net Profits to $350.34M

During the third quarter (Q3) of 2016, Bank Audi’s net profits surged 15.18% year-on-year, to $350.34M. In details, the bank’s net interest income increased 6.80% annually, to $759.70M, while net fee and commission income swelled from $194.35M in September 2015, to $819.52M in September 2016, due to increased activity in Q3.

On the balance sheet, total assets broadened 7.11% year-to-date (y-t-d) to $45.27B end of Q3 2016, where net loans and advances to customers at amortized costs added 4.92% to $18.66B.

On the liabilities side, customers’ deposits added 3.60% y-t-d to $36.42B in September 2016.

As for total equity, it grew 11.65% since end of 2015, to $3.67B by September 2016, with a 15.1% return on average common equity.

Worth mentioning that Bank Audi’s capital adequacy ratio and gross doubtful loans to gross loans stood at 15.3% and 3.2%, respectively, end of September 2016.

Audi Finanicals by Q3 2016

 $MSep-16Dec-15% Change
Net Profits350.34304.18*15.18%
Total Assets45,274.7142,270.417.11%
Customers’ Deposits36,416.8635,151.253.60%
Total Equity3,670.293,287.4011.65%

* Value of September 2016

Source: BSE News

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