Bank Audi’s Subsidiary in Egypt Posts 19.79% Growth in Profits for 2014
Bank Audi SAE, operating in Egypt, recorded a 19.79% growth in its net profits to $58.28M. This was triggered by the 14.71% and 29.62% increases in net interest income and net income from fees and commissions to $107.38M and $27.78M, respectively.
The bank’s balance sheet displayed a 34.98% surge in total assets to $4.01B, as loans and facilities to customers augmented 17.16% to $1.66B.
On the liabilities side, customers’ deposits widened 37.48% to $3.56B.
Bank Audi SAE Financial Highlights ($M)
| 2014 | 2013 | % change | |
| Net Profit | 58.28 | 48.66 | 19.79% |
| Total Assets | 4,007.20 | 2,968.82 | 34.98% |
| Loans and facilities to customers | 1,656.10 | 1,413.55 | 17.16% |
| Customers’ deposits | 3,562.95 | 2,591.68 | 37.48% |
| Total Equity | 330.52 | 287.59 | 14.93% |
Source: Company Website
