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-Jun | 14-Dec | % change | |
| Customers Deposits | 36.17 | 35.82 | 0.80% |
| Loans and Facilities to Customers | 17.03 | 17.17 | -0.79% |
| Total Assets | 42.31 | 14.96 | 0.83% |
| Shareholders’ Equity | 3.13 | 3.35 | -6.55% |
| Net Profit* ($M) | 202.09 | 189.72 | 6.52% |
| *From June 2014 to June 2015 |
Source: Bank Audi
