Profits of Bank Audi’s Egyptian Subsidiary Up to $103.71M in 2016

According to the statement of income of Bank Audi’s Egyptian subsidiary, net profit for the year 2016 rose from $32.28M in 2015 to $103.71M in 2016. Net interest income and net income from fees and commissions both rose by annual rates of 36% and 49% to reach $82.12M and $23.78M in 2016, respectively.

The subsidiary’s balance sheet revealed a 48% annual surge in total assets to $3.04B with loans and facilities to customers rising by a yearly 62.18% to $1.65B.

Customers’ deposits increased by an annual 42.08% to $2.51B while total equity rose by an annual 55.45% to $255.98M.

Bank Audi Egypt – Financials 2016

 in USD 2015 2016 YOY
Loans and Facilities to Customers             1,016,322,517        1,648,315,106 62.18%
Total Assets             2,051,576,680        3,036,412,901 48.00%
Customers’ Deposits             1,764,965,748        2,507,610,780 42.08%
Total Equity                164,673,035           255,977,586 55.45%
Net Profit for the Year                  32,283,985           103,706,945 221.23%

(*) Conversion from EGP to USD done on the basis of 1$ = 18.16 EGP

Source: Bank Audi

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