Net Profit of Bank Audi’s Egyptian Subsidiary Up to $38.67M as of June 2015
According to the financial statements of Bank Audi’s Egyptian subsidiary, net profit surged by 31.47% year-on-year to reach $38.67M. Higher profits came about as net interest income grew from $50.22M at the end of June 2014 to $61.89M at the end of June 2015 and as net income from fees and commissions rose from $12.18M to $18.08M over the same period.
The balance sheet of Bank Audi’s Egyptian subsidiary revealed an 18.30% year-to-date rise in total assets to $4.62B with loans to customers growing by 19.27% to $1.92B as at the end of June 2015.
Customers’ deposits also advanced by 16.61% year-to-date to reach $4.05B while shareholders’ equity slid by 4.48% year-to-date to reach $307.6M.
According to the financial statements of Bank Audi’s Egyptian subsidiary, net profit surged by 31.47% year-on-year to reach $38.67M. Higher profits came about as net interest income grew from $50.22M at the end of June 2014 to $61.89M at the end of June 2015 and as net income from fees and commissions rose from $12.18M to $18.08M over the same period.
The balance sheet of Bank Audi’s Egyptian subsidiary revealed an 18.30% year-to-date rise in total assets to $4.62B with loans to customers growing by 19.27% to $1.92B as at the end of June 2015.
Customers’ deposits also advanced by 16.61% year-to-date to reach $4.05B while shareholders’ equity slid by 4.48% year-to-date to reach $307.6M.
Financial Highlights of Bank Audi’s Egyptian Subsidiary
|
USD |
Jun-15 | Dec-14 | % chg. |
| Total Assets |
4,618,912,253 |
3,904,444,125 | 18.30% |
| Loans to Customers |
1,924,560,425 |
1,613,629,859 |
19.27% |
| Customers’ Deposits |
4,048,091,599 |
3,471,588,928 |
16.61% |
| Total Equity |
307,602,643 |
322,040,824 |
-4.48% |
|
Net Profit |
38,669,530 | 29,414,189(*) |
31.47% |
Source: Bank Audi
(*) Value of June 2014
Conversion to USD was done according to 1 USD = 7.83 EGP
