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.
| $B | Dec-14 | Mar-15 | % Change |
| Net Loans and Advances to Customers | 17.1 | 16.38 | -4% |
| Total Assets | 41.96 | 41.46 | -1% |
| Customers’ Deposits at amortized cost | 35.43 | 34.66 | -2% |
| Total Shareholders’ Equity | 3.35 | 3.38 | 1% |
| Net Profit ($M) (*) | 85.76(*) | 100.02 | 17% |
(*): Figure as at March 2014
