Bank Audi’s Net Profit Stood at $410M at the end September 2018

 According to Bank Audi’s unaudited consolidated financial statements, the bank’s Net profit for the first nine months of 2018 rose by 20% relative to the current net profits of the corresponding period of 2017 to reach $410M. In details, the “Net interest margin” increased from $807.58M by September 2017 to $903.17M . Meanwhile the “Net fees and commission income” declined by 9.04% to $163.22M by September 2018.

Total assets of the bank grew by 4.51% since year-start to $45.72B by September 2018 noting that “Cash reserves and deposits at central Banks” rose year to date  by 16.18% to stand at $15.30M by September 2018 while “Net Loans and advances to customers at amortized costs” recorded a decrease of 16.25% year-to-date (y-t-d) to $13.56B.

As for the total Shareholders’ equity, it dropped by 9.40% y-t-d to $3.83B. Meanwhile, Customers’ deposits contracted by 7.50% since year start to settle at $30.48B by Q3 2018.

Bank Audi’s Financial highlights at end of September 2018

In Millions of USDSep-18December 2017YTD
Total Assets45,72343,7514.51%
Net Loans and Advances to Customers13,55616,186-16.25%
Customers’ Deposits30,48232,953-7.50%
Shareholders’ Equity3,8274,187-8.60%
Profit for the period409.68436.68-6.18%

Source:  Bank Audi, BSE

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