Odeabank Registered $12.85M Profit by September, 2015
The unconsolidated financial statements of Odeabank, Bank Audi’s Turkish subsidiary, posted $12.85M net profits up to September 2015, compared to a $3.85M loss in the same period of 2014. In fact, over the same period, Odeabank’s net interest income and net fee and commissions’ income grew from $134.79M and $10.51M to $249.65M and $25.51M, respectively.
On the balance sheet, total assets revealed a 28% year-to-date (y-t-d) growth to $11.49B, as loans and receivables increased by 21% y-t-d to $7.66B. On the liabilities side, total deposits inched up 24% to $9.17B.
As for shareholders’ equity, it dropped slightly by 1% since year-start, to $463.08M, by September 2015.
Odeabank’s Financials ($M)
| 30/09/2015 | 31/12/2014 | %chg. | |
| Loans and Receivables | 7,657 | 6,304 | 21% |
| Total Assets | 11,494 | 8,968 | 28% |
| Total Deposits | 9,167 | 7,371 | 24% |
| Shareholders’ Equity | 463.08 | 468.04 | -1% |
| Net Profit/loss | 12.85 | -3.85* | -434% |
Source: Bank Audi
(*): Figure relative to 30/09/2014
Conversion done according to 1 Turkish Lira = 0.35 USD
