Bank Audi released today its consolidated unaudited financial results for the first quarter of 2016. Despite a weak Lebanese economy and a continuing unstable regional environment, the Bank maintained its balanced growth as net profits increased to $110.18M, higher by 10.15% from the first quarter of 2015. This improvement is mainly due to the respective yearly increases of 10.31% and 10.77% in net interest margin and net fee and commission income, which registered $245.47M and $65.60M, respectively, in Q1 2016.
By the end of March 2016, Audi’s total assets stood at $41.02B, decreasing by 2.95% from the end of 2015. Net loans and advances to clients managed to show a 0.90% growth to $17.95B, while customers’ deposits lost 4.09% since year start to $33.71B. Total shareholders’ equity inched up by 2.15% year to date to $3.36B compared to $3.29B registered end of 2015.
Profitability attained respectable ratios, with Return on Average Equity (ROAE) reaching 14.3%. Also, primary liquidity to customers’ deposits ratio registered 44.4%, while the capital adequacy ratio as per Basel III, recorded 13.7%.
Bank Audi Financial Results Q1 (in $M)
(*) March 2015 figure
Source: BSE