The consolidated financial statements of Bank Audi revealed a 5.66% yearly decline in its H1 2019 profits, to stand at $250.36M, of which 70.4% were generated by entities operating in Lebanon.
In fact, the slump in profits came on the back of a 4.7% and 8.8% year-on-year (YOY) down turns in Net interest income and Net commission income, such that they stood at $554.74M and $96.02M, respectively, in H1 2019.
Meanwhile, the bank’s balance sheet revealed an incremental 0.65% year-to-date (YTD) uptick in Total assets to reach $47.51B over the same period. Actually, Customer loans fell by 8.77% YOY to $12.01B. On the liabilities side, Customers’ deposits contracted by 0.41% YTD to settle at $31.56B, while Shareholders’ equity slid by 1.96% YTD to $3.81B.
Bank Audi’s Financial Highlights in H1 2019
|(In Millions of USD )||30-Jun-19||30-Dec-18||YTD|
|Total Assets|| 47,507|| 47,201||0.65%|
|Net Loans and Advances to Customers at Amortized Cost|| 12,011|| 13,165||-8.77%|
|Customers’ Deposits and Credit Balances at Amortized Cost|| 31,563|| 31,693||-0.41%|
|Total Shareholders’ Equity|| 3,810|| 3,886||-1.96%|
|Net Income*|| 250.36|| 265.39||-5.66%|
Source: BSE, Bank Audi