Profits of Bank Audi’s Egyptian Subsidiary Increase to $36.37M in H1 2018
According to the Income Statement of Bank Audi’s Egyptian subsidiary, net profit for H1 2018 increased from $23.70M to $36.37M. The rise can be mainly attributed to the plunge in other operating expenses from $1.34B to $378.8M.
The subsidiary’s balance sheet revealed an increase of 6.35% in total assets to $3.32B from the beginning of the year. Loans and facilities to customers rose by a 1.21% year-to-date (YTD) to $1.66B.
Customers’ deposits also increased by 7.42% YTD to stand at $2.84B, and total equity managed to register an uptick of 9.47% to reach $340.04M.
Bank Audi Egypt – Financials H1 2018 (in $M)
| 31/06/2018 | 31/12/2017 | YTD | |
| Total Assets | 3,323.46 | 3,125.13 | 6.35% |
| Loans and facilities to customers | 1,661.25 | 1,641.33 | 1.21% |
| Customers’ Deposits | 2,841.29 | 2,645.08 | 7.42% |
| Total Equity | 340.04 | 310.62 | 9.47% |
| Net Profit for the Year* | 36.37 | 23.70 | 53.47% |
(*) Value of June 2017.
Conversion from EGP to USD done on the basis of 1$ = 17.91 EGP
Source: Bank Audi, Beirut Stock Exchange
