Bank Audi S.A.E’s Profit Increased to $46.07M by Q3

Bank Audi S.A.E, the bank’s Egyptian subsidiary, recorded an 11.23% year-on-year (y-o-y) increase in net profit to $46.07M by the third quarter of 2014. The 22.41% jump in administrative expenses to $41.40M was more than offset by increases of 13.18% and 26.83% y-o-y in net interest income and net income from fees and commissions to respective values of $84.06M and $20.99M. As for total assets, they increased by an annualized 20.35% to $3.82B as loans and facilities to customers displayed a 10.15% year-to-date (y-t-d) increase to $1.66B. On the liabilities side, customers’ deposits also increased by 22.25% to $3.38B. Total shareholders’ equity registered a yearly increase of 9.11% to $335.16M.

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