Bank Audi Confirms Cancellation of its Preferred E shares and the Increase in the Bank’s Share Capital

Pursuant to its resolution dated June 9, 2015 to cancel all the Series “E” Preferred Shares and increase the Bank’s capital from L.L. 667,836,186,600 to L.L. 668,194,681,824, i.e. by an amount of L.L. 358,495,224 through the increase of the nominal value of each share to become L.L. 1,656 instead of L.L. 1,650, and after examining the approval letter issued by the Central Bank on August 11, 2015, the Extraordinary General Meeting of shareholders of Bank Audi resolves to:

– Confirm and approve the adequate completion of all formalities and actions undertaken to execute the above mentioned resolution of cancellation of Series “E” Preferred Shares and capital increase;

– Declare that Bank Audi’s capital is now L.L. 668,194,681,824, fully paid and divided into 403,499,204 nominal shares having a par value of L.L. 1,656 each.

Bank Audi’s Consolidated Activity Highlights, as at end-June 2015

  • US$ 42.3 billion in total assets
  • US$ 36.1 billion of total customers’ deposits
  •  US$ 17 billion of loans to customers
  •  US$ 3.1 billion of shareholders’ equity
  •  US$ 202 million of net profits in the first half of 2015

Source: Bank Audi, Beirut Stock Exchange 

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