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
|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%|
Note: USD/EGP at 16.23
Source: Beirut Stock Exchange, Bank Audi