According to the financial statements of Bank Audi’s Egyptian subsidiary, the bank’s Net profit for Q3 2019 increased by a yearly 6.52% to settle at $67.1M. The rise in profits is linked to the annual increases of 20.31% and 1.59% in Net interest income and the Net income from fees and commissions, to stand at $129.4M and $24.9M, respectively.
Meanwhile, the subsidiary’s Total assets grew by 4.87% since year-start to $4.4B. In fact, Loans and facilities to customers in Q3 2019 fell from $1.9B to $1.7B. On the liabilities side, Customer’s deposits climbed by 4.61% year-to-date (YTD) to $3.8B.
As for Total equity, it registered a 1.79%YTD uptick to $422.1M in Q3 2019.
Bank Audi Egypt: Financial Highlights Q3 2019
| in USD | Sep-19 | Dec-18 | YTD |
| Total Assets | 4,419,898,235 | 4,214,473,562 | 4.87% |
| Loans and facilities to customers | 1,650,587,014 | 1,921,253,066 | -14.09% |
| Customers’ Deposits | 3,812,579,534 | 3,644,425,142 | 4.61% |
| Total Equity | 422,089,936 | 414,674,913 | 1.79% |
| *Net Interest Income | 129,368,526 | 107,529,392 | 20.31% |
| *Net Income from Fees and Commissions | 24,943,812 | 24,553,652 | 1.59% |
| *Net Profit for the Year | 67,094,416 | 62,987,449 | 6.52% |
* Year-on-year
Note: USD/EGP at 16.23
Source: Beirut Stock Exchange, Bank Audi