Bank Audi published on 27 May 2025 its non-audited financial results for Q1 2025. It stated that as to political stabilization and progress towards IMF engagement in early 2025, the Bank continues to support reforms, advocate for a viable restructuring framework, and implement measures to fortify the Bank’s readiness for the implementation of the expected resolution plan. In the context of the adoption of awaited reforms, they are now on a virtuous path as the Banking Secrecy law has been amended, and the resolution plan has been adopted by Cabinet and still awaits ratification by Parliament. We now look forward to the adoption of the Financial Gap Framework. In the meantime, it is still difficult for banks to assess the full impact of the crisis on their financial position.
Also, the continuation of the adopted direction to allocate consolidated operating surpluses to provisions for risk and charges in QI 2025, as a cautious measure to reinforce the Bank’s financial position. In addition to the completion of the sale transaction of the Bank’s subsidiary in Turkey, Odea Bank, to ADQ on 26 March 2025.
In terms of strategy, the Bank is redefining its business model in Lebanon by transitioning toward a convenient, readily accessible and cost effective digital platform mainly for individual customers (neo) while consolidating our branch network to better serve high-net-worth and corporate clients.
Moreover, it stated that the figures below were published to comply with regulatory publishing requirements for listed banks operating in Lebanon. They should not be relied upon for decision-making, and they should be read in conjunction with the full set of financial statements and related disclosures as published on the Bank’s website (please refer to the 2024 Annual Report).
For Q1 2025, Bank Audi’s net profits amounted to nil compared to $19,000 at end 2024. As to assets, they stood at $14.65 billion, less by 12.06% relative to end 2024; deposits reached $12.46 billion, up by 0.34%; loans stood at $0.951 billion, less by 1.19%; and shareholders’ equity was $0.940 billion, down by 1.58%.
| USD’000 | 31-Mar-25 | 31-Dec-24 | ||
| Loans to Customers | 951,216 | 962,662 | ||
| Customers’ Deposits | 12,458,132 | 12,416,241 | ||
| Total Equity | 939,634 | 954,746 | ||
| Total Asset | 14,651,374 | 16,665,099 | ||
| Net Income | 0 | 19 | ||
| Loans / Deposits ratio | 7.64% | 7.75% |