The consolidated financial statements of Bank Audi in 2017 revealed an annual increase of 3.52% in the profits of Q1 2018, which stood at $114M, of which 42% from entities outside of Lebanon.
According to the bank’s balance sheet, total assets slipped by 0.62% y-t-d to stand at $43.48B mainly justified by the devaluation of the Turkish Lira against the dollar. Similarly, Customer loans fell by 4.51% to $15.46B. On the liabilities side, Customers’ deposits contracted by 3.74% y-o-y to settle at $31.72B, while Shareholders’ equity rose by 2.07% to $4.28B.
Audi Bank’s Financial Highlights in Q1 2018
| In millions of USD | 31-Mar-18 | 31-Dec-17 | YTD |
| Total Assets | 43,483 | 43,752 | -0.62% |
| Net loans and Advances to Customers at Amortized Cost | 15,456 | 16,186 | -4.51% |
| Customers’ Deposits at Amortized Cost | 31,723 | 32,954 | -3.74% |
| Total Shareholders’ Equity | 4,275 | 4,188 | 2.07% |
| Profit for the Period* | 114.08 | 110.20* | 3.52% |
*March 2017
Source: BSE, Bank Audi