Bank Audi Consolidated Profits Rose by 6.52% to $202.09M in H1 2015

Bank Audi group recorded profits of $202.09M in H1 2015, a 6.52% increase from June 2014, according to their unaudited financial statements. This mainly came on the back of the respective increases of 16.53% and 9.34% in net interest income and net fee and commission income to $456M and $126M, respectively. In its press release, Bank Audi stated that 48% of its profits were from entities outside Lebanon.

As for total assets, they grew from the beginning of the year by 0.83% to $42.31B although loans and facilities to customers dropped by 0.79% year-to-date (y-t-d) to $17.03B, of which 66% from entities outside Lebanon.

On the liabilities side, customers’ deposits ticked up by 0.80% y-t-d to $36.17B while total shareholders’ equity registered a y-t-d fall of 6.55% to $3.13B. Worth mentioning, according to the press release, the Bank’s capital adequacy ratio stood at 12.8% as per Basel III and primary liquidity to customer’ deposits ratio was at 45.5%. The Bank’s Return on Average common equity (ROCE) reached 13.8%.

Bank Audi H1 2015 Financial Highlights ($B)

 15-Jun14-Dec% change
Customers Deposits36.1735.820.80%
Loans and Facilities to Customers17.0317.17-0.79%
Total Assets42.3114.960.83%
Shareholders’ Equity3.133.35-6.55%
Net Profit* ($M)202.09189.726.52%
*From June 2014 to June 2015

Source: Bank Audi

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