ODEABANK Posts a Loss of $4.84M up to September

Large operating expenses continued to weigh on the income of Bank Audi’s Turkish subsidiary – ODEABANK. The subsidiary recorded a net loss of $4.84M in the first 3 quarters of 2014 compared to $48.07M in the same period last year.

As for total assets, they rose from $5.44B in December 2013 to $7.84B by September 2014 with loans and receivables growing by 35.80% to $6.78B.

On the liabilities side, customers’ deposits advanced from $5.44B in December 2013 to $7.84B.

Total shareholders’ equity remained almost the same, ticking down by 0.15% to $584.78B.


Odeabank Financial Highlights

 Sep-14Dec-13% change
Total Assets7.845.4444.03%
Loans and Advances to Customers6.784.9935.80%
Customers’ Deposits9.687.0936.52%
Shareholders’ Equity (in $M)584.78585.65-0.15%
Profit/Loss (in $M)4.8448.07*-89.93%

(*): Value of September 2013

Source: BSE News, Audi Website

Leave a Reply

Your email address will not be published. Required fields are marked *