ODEABANK Posted Positive Results in 2014 Following 2013’s Loss
ODEABANK, Bank Audi’s Turkish subsidiary, recorded a year end net profit of $132,443 in 2014 compared to a net loss of $52.31M witnessed in 2013. In details, interest income surged by 143.30% year-on-year (y-o-y) to $625.12M, outpacing the annual 97.80% growth in interest expense to $403.79M.
In the balance sheet, total assets rose from $6.15B in 2013 to $9.78B by December 2014.In addition, “total loans and receivables” recorded a yearly 58.77% increase to $6.87B.
On the liabilities side, 2014’s year-end deposits amounted to $8.04B comparing to $4.72B recorded in 2013.
Total Shareholders’ equity remained almost constant above the $500M mark.
2014’s Financial Highlights
| Dec-14 | Dec-13 | % change | |
| Customer’s deposits ($B) | 8.04 | 4.72 | 70.23% |
| Net Loans & advances to customers ($B) | 6.87 | 4.33 | 58.77% |
| Total assets ($B) | 9.78 | 6.15 | 59.05% |
| Total Sharholders’ Equity ($M) | 510.40 | 508.03 | 0.47% |
| Net Profit/Loss ($M) | 0.132 | (52.31) | 100.25% |
Source: BSE News, Audi Website
