Bank Audi’s Net Profit Grows by 17% to $100M in Q1 2015

Bank Audi’s consolidated income statement showed a 17% year-on-year growth in net profits to $100M in the first quarter of 2015. Net interest margin and net fee and commission income grew by 19% and 14% to $222.51M and $59.23M in the first quarter of 2015, respectively.

Bank Audi’s consolidated balance sheet revealed a 1 % year-to-date (y-t-d) drop in total assets to $41.46B as at end March. 46% of total assets are from entities outside Lebanon and 31% are in investment grade countries. Loans and advances to customers also slid by 4% y-t-d to reach $16.38B by March, of which 65% are from entities outside Lebanon. On the liabilities’ side, customer deposits slid by 2% y-t-d to reach $34.66B by the first quarter of 2015. 44% of these deposits stem from entities outside Lebanon. As for total shareholders’ equity, it grew by 1% y-t-d to reach $3.38B as of end March. 85% of the total shareholders’ equity is core common shareholders’ equity.

 $BDec-14Mar-15%  Change
Net Loans and Advances to Customers17.116.38-4%
Total Assets41.9641.46-1%
Customers’ Deposits at amortized cost35.4334.66-2%
Total Shareholders’ Equity3.353.381%
Net Profit ($M) (*)85.76(*)100.0217%

(*): Figure as at March 2014

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