Bank Audi’s Net Profit Down by 5.66% YOY to $250.36M in H1 2019

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%
*June 2018

Source: BSE, Bank Audi

 

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