The consolidated financial statements of Bank Audi, in the first half of 2017, witnessed a yearly rise of 36.52% in profits to $308M and “$213M excluding net profits came from the sale of the Card and Electronic Payment process and acquiring activities, of which 20% from Odea Bank and 11% from Bank Audi Egypt, raising the contribution of entities abroad to consolidated net profits to 49%.”
The banks’ balance sheet showed that total assets slightly fell by 0.89% to $43.87B since year start and that customer loans rose by 2.55% since year start to $17.51B. On the liabilities side, customers’ deposits showed a 0.98% rise since year start to $35.76B, and shareholders’ equity increased by 3.34% year-to-date to $3.82B.
Audi Bank’s Financial Highlights for H1 2017
| In millions of USD | 30-Jun-17 | 31-Dec-16 | YTD |
| Total Assets | 43,871 | 44,267 | -0.89% |
| Net loans and Advances to Customers at Amortized Cost | 17,506 | 17,069 | 2.55% |
| Customers’ Deposits at Amortized Cost | 35,761 | 35,416 | 0.98% |
| Total Shareholders’ Equity | 3,822 | 3,698 | 3.34% |
| Profit for the Period | 308 | 226* | 36.52% |
*June 30, 2016
Source: Audi Bank, Beirut Stock Exchange