Bank Audi’s Egyptian Subsidiary Registered Profits of $59.87M end of September 2015

The newly released statement of income by Bank Audi’s Egyptian subsidiary revealed a 40% yearly surge in net profit from $42.84M for the period ended September 2014 to $59.87M for the period ending September 2015.

Higher profit was a result of higher net interest income and higher net income from fees and commissions. Net Interest income grew by a yearly 28% to $99.78M while net income from fees and commissions surged by a yearly 42% to $27.64M.

According to its balance sheet, the subsidiary’s total assets also grew by 25% since year-start to $4.98B with loans and facilities to customers registering a 26% year-to-date growth to $2.08B by September. On the liabilities’ side, Customer deposits went up by 24% since year start to reach $4.38B by September and total equity nudged up by 1% to $330M at the end of September.

Financial Highlights for Bank Audi’s Egyptian Subsidiary, End of September 2015

In Millions of USD30/09/201531/12/2014% chg.
Loans and Facilities to Customers                   2,075.00                     1,643.0026%
Total Assets                   4,981.00                     3,974.0025%
Customer Deposits                   4,382.00                     3,533.0024%
Total Equity                       330.00                        328.001%
Net Profit for the Year                         59.87                           42.84(*)40%

 (*): Value of 30/09/2014

Source: Bank Audi 

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