The consolidated financial statements of Bank Audi revealed a 5.66% yearly decline in its H1 2019 profits, to stand at $250.36M, of which 70.4% were generated by entities operating in Lebanon.
In fact, the slump in profits came on the back of a 4.7% and 8.8% year-on-year (YOY) down turns in Net interest income and Net commission income, such that they stood at $554.74M and $96.02M, respectively, in H1 2019.
Meanwhile, the bank’s balance sheet revealed an incremental 0.65% year-to-date (YTD) uptick in Total assets to reach $47.51B over the same period. Actually, Customer loans fell by 8.77% YOY to $12.01B. On the liabilities side, Customers’ deposits contracted by 0.41% YTD to settle at $31.56B, while Shareholders’ equity slid by 1.96% YTD to $3.81B.
Bank Audi’s Financial Highlights in H1 2019
(In Millions of USD ) | 30-Jun-19 | 30-Dec-18 | YTD |
Total Assets | 47,507 | 47,201 | 0.65% |
Net Loans and Advances to Customers at Amortized Cost | 12,011 | 13,165 | -8.77% |
Customers’ Deposits and Credit Balances at Amortized Cost | 31,563 | 31,693 | -0.41% |
Total Shareholders’ Equity | 3,810 | 3,886 | -1.96% |
Net Income* | 250.36 | 265.39 | -5.66% |
*June 2018 |
Source: BSE, Bank Audi