Profits of Bank Audi’s Egyptian Subsidiary Increased to $73.13M in 2018.

According to the Income Statement of Bank Audi’s Egyptian subsidiary, net profit for 2018 gained an annual 24.15% to $73.13M. The Increase in profits came on the back of the increase in bank’s operations since both the net interest income and the net income from fees and commissions grew over the past year; net interest income grew by 25.17% to $137.48M and net income from fees and commissions rose by a yearly 12.69% to $31.37M.

As for the subsidiary’s balance sheet, it registered a significant rise of 22.59% annually in total assets to $3.95B. Following the same trend, loans and facilities to customers increased from $1.70B to $1.80B.

As for total equity, it registered a 20.98% annual increase to $388.35M in 2018.

Bank Audi Egypt – Financial Highlights

USD Dec-18 Dec-17 YOY
Total Assets                3,946,965,142             3,219,547,532 22.59%
Loans and facilities to customers                1,799,303,939       1,696,265,873.28 6.07%
Customers’ Deposits                3,413,099,830             2,733,605,709 24.86%
Total Equity                    388,353,943                321,010,749 20.98%
Net Profit for the Year                      73,132,513                   58,908,118 24.15%

Conversion from EGP to USD done on the basis of 1$ = 17.33 EGP

Source: Bank Audi, Beirut Stock Exchange

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