Profits of Bank Audi’s Egyptian Subsidiary Rose by 6.52%YOY to $67.1M in Q3 2019

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 USDSep-19Dec-18YTD
Total Assets           4,419,898,235            4,214,473,5624.87%
Loans and facilities to customers           1,650,587,014            1,921,253,066-14.09%
Customers’ Deposits           3,812,579,534            3,644,425,1424.61%
Total Equity               422,089,936               414,674,9131.79%
*Net Interest Income               129,368,526               107,529,39220.31%
*Net Income from Fees and Commissions                 24,943,812                  24,553,6521.59%
*Net Profit for the Year                 67,094,416                  62,987,4496.52%

* Year-on-year

Note: USD/EGP at 16.23


Source: Beirut Stock Exchange, Bank Audi


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