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
$M | Sep-16 | Dec-15 | % Change |
Net Profits | 350.34 | 304.18* | 15.18% |
Total Assets | 45,274.71 | 42,270.41 | 7.11% |
Customers’ Deposits | 36,416.86 | 35,151.25 | 3.60% |
Total Equity | 3,670.29 | 3,287.40 | 11.65% |
* Value of September 2016
Source: BSE News