BQAD.L Regulatory News (BQAD)

2 May 2008 08:44

Bank Audi SAL- Audi Saradar Group02 May 2008 Bank Audi SAL - Audi Saradar Group Consolidated Balance Sheet as at March 31, 2008 (Unaudited) (LL millions)ASSETS 31/03/2008 31/03/2007 LL C/V LL TOTAL LL C/V LL TOTALCash and Central Banks 2,426,517 4,101,969 6,528,486 2,487,790 3,145,980 5,633,770 - Cash 38,201 106,272 144,473 35,067 66,975 102,042 - Credit risk ceded 12,039 12,039 211,835 211,835 - Net Exposure 2,388,316 3,983,658 6,371,974 2,452,723 2,867,170 5,319,893Lebanese Treasury bills and other government 1,314,726 2,527,732 3,842,458 1,018,288 3,116,966 4,135,254bills - Credit risk ceded 769,635 769,635 540,700 540,700 - Net Exposure 1,314,726 1,758,097 3,072,823 1,018,288 2,576,266 3,594,554Bonds and financial instruments with fixed 1,408,111 1,408,111 672,321 672,321incomeShares, securities and financial assets with 8,018 305,564 313,582 8,260 195,391 203,651variable incomeBanks and financial institutions 69,066 4,457,628 4,526,694 47,536 3,673,939 3,721,475- Current accounts 10,692 872,132 882,824 6,815 570,537 577,352- Time deposits 58,374 3,585,496 3,643,870 40,721 3,103,402 3,144,123- Purchase of financial instruments with anoption to resellDue from Head office, branches and affiliates- Current accounts- Time depositsLoans and advances to customers 316,712 8,269,283 8,585,995 261,043 5,076,913 5,337,956- Commercial loans* 161,796 7,520,008 7,681,804 139,395 4,267,830 4,407,225- Other loans to customers* 107,594 416,941 524,535 76,228 458,888 535,116- Overdraft accounts 2,840 30,082 32,922 2,657 32,041 34,698- Net debtor accounts against creditor and cash 1,680 1,680 209 209collateral accounts- Advances to related parties (o.w.cash 54,732 244,048 298,780 49,095 250,333 299,428collateral of LL 168.86 billion as at March end2008)- Doubtful loans** -10,250 56,524 46,274 -6,332 67,612 61,280Bank acceptances 234,651 234,651 162,050 162,050Investments and related loans 2,261 2,261Investments and related loans under equity 4,657 17,473 22,130 4,226 17,710 21,936method-Non financial institutions 4,657 17,473 22,130 4,226 17,710 21,936- Financial institutionsTangible fixed assets (including revaluation 271,834 229,811 501,645 282,265 203,447 485,712variance approved by the Central Bank)Intangible fixed assets 8,626 7,824 16,450 5,488 6,619 12,107Other assets 1,300 836 2,136 1,393 37,532 38,925Regularization accounts and other debtor 72,904 191,077 263,981 47,133 92,186 139,319accountsRevaluation variance on other fixed assetsGoodwill 35,551 173,163 208,714 33,838 181,247 215,085 TOTAL ASSETS** 4,529,911 21,927,383 26,457,294 4,197,260 16,582,301 20,779,561 *Out of which sub-standard loans amounting to : 27,391 30,646**After deduction of provision for doubtful 181,319 163,112loansand unrealised interest:*For sub-standard loans 5,039 5,923**For doubtful loans 80,568 71,484 Off-Balance Sheet ItemsFinancing commitments receivedSignature commitments received 26,219 197,991 224,210 19,827 112,085 131,912Financial instruments sold with a buy backoptionEngagements on term financial instruments- Option on forex swapCommitments on derivatives 15,112 15,112Other engagements received 236,681 3,401,239 3,637,920 225,898 2,457,196 2,683,094Fiduciary assets and Assets under management 6,611 6,081,923 6,088,534 6,630 4,678,075 4,684,705Custody accounts 934,951 3,155,508 4,090,459 888,651 2,527,064 3,415,715Forward operations: 1,535,405 1,535,405 872,902 872,902-Foreign currencies to receive 1,535,405 1,535,405 872,902 872,902Bad debts transferred to off balance sheet 28,535 228,312 256,847 27,008 242,681 269,689items Bank Audi SAL - Audi Saradar Group Consolidated Balance Sheet as at March 31, 2008 (Unaudited) (LL millions)LIABILITIES 31/03/2008 31/03/2007 LL C/V LL TOTAL LL C/V LL TOTALCentral Bank 3,637 3,637Banks and financial institutions 64,466 735,407 799,873 3,381 240,590 243,971- Current accounts 4,774 324,008 328,782 2,318 109,015 111,333- Time deposits 59,692 411,399 471,091 1,063 131,575 132,638- Sale of financial instruments with an option torebuyDue to Head office, branches and affiliates- Current accounts- Time depositsDeposits from customers 3,323,458 18,521,365 21,844,823 3,147,974 14,024,351 17,172,325- Sight deposits 287,737 2,669,662 2,957,399 261,047 1,779,233 2,040,280- Time deposits 622,734 9,082,854 9,705,588 667,738 6,653,204 7,320,942- Savings accounts 2,365,398 5,626,687 7,992,085 2,184,564 4,737,099 6,921,663- Net creditor and cash collateral accounts against 42,837 912,795 955,632 30,184 706,265 736,449debtor accounts- Related parties accounts 4,752 229,367 234,119 4,441 148,550 152,991Engagements by acceptances 234,651 234,651 162,050 162,050Liabilities under financial instruments 157,188 157,188 157,143 157,143- Certificates of deposit 157,188 157,188 157,143 157,143- Debenture bonds- Other liabilities under financial instrumentsOther liabilities 213,185 203,329 416,514 153,362 116,278 269,640Regularization accounts and other creditor accounts 35,313 78,607 113,920 19,098 57,064 76,162Provisions for risks and charges 31,274 7,264 38,538 33,560 13,499 47,059Subordinated notesShareholders' equity 1,054,824 1,710,953 2,765,777 915,486 1,663,751 2,579,237-Revaluation variance accepted in the supplementary 18,600 18,600 18,600 18,600capital-Share capital & cash contribution to capital 422,190 182,659 604,849 404,945 173,799 578,744 - Group share 419,675 72,586 492,261 404,162 72,586 476,748 Ordinary shares 32.902.309 Preferred shares 5.250.000 - Minority share 2,515 110,073 112,588 783 101,213 101,996-Reserves for general banking risks 32,299 74,392 106,691 26,896 54,297 81,193 - Group share 32,299 74,392 106,691 26,885 54,262 81,147 - Minority share 11 35 46-Reserves and premiums and equity differences 321,769 1,233,224 1,554,993 227,860 1,324,171 1,552,031 - Group share 319,368 1,235,645 1,555,013 225,723 1,324,820 1,550,543 - Minority share 2,401 -2,421 -20 2,137 -649 1,488-Employees' stock option plan as per IFRS 2 269 34,212 34,481 14 22,276 22,290-Less: Treasury GDR's -135 -2,901 -3,036 -189 -1,521 -1,710-Profit carried forward 15,759 54,719 70,478 5,347 12,784 18,131 - Group share 15,739 49,913 65,652 5,310 11,421 16,731 - Minority share 20 4,806 4,826 37 1,363 1,400-Net income for the year 222,720 58,110 280,830 212,682 34,805 247,487 - Group share 221,996 53,353 275,349 211,634 34,813 246,447 - Minority share 724 4,757 5,481 1,048 -8 1,040-Cumulative changes in fair value 21,353 76,538 97,891 19,331 43,140 62,471Revaluation variance of fixed assetsIncome and expense accounts 57,857 24,516 82,373 61,415 10,559 71,974Total Liabilities & Shareholders' Equity 4,780,377 21,676,917 26,457,294 4,334,276 16,445,285 20,779,561 Off-Balance Sheet ItemsFinancing commitments given to: 580,557 280,913 280,913- Financial intermediaries 580,557 280,913 280,913- CustomersBank guarantees given to: 39,649 1,281,815 1,321,464 36,179 774,699 810,878- Financial intermediaries 1,216 244,118 245,334 1,291 228,210 229,501- Customers 38,433 1,037,697 1,076,130 34,888 546,489 581,377Financial instruments purchased with a buy backoptionOther engagementsEngagements on term financial instrumentsCommitments on derivatives 444,745 444,745Fiduciary Deposits and Assets under management 8,427 6,080,107 6,088,534 8,284 4,676,421 4,684,705Custody accounts 934,951 3,155,508 4,090,459 888,651 2,527,064 3,415,715Forward operations 1,545,651 1,545,651 873,351 873,351-Foreign currencies to deliver 1,545,651 1,545,651 873,351 873,351 Bank Audi SAL - Audi Saradar Group Consolidated Income Statement (Unaudited) (LL millions) 31/03/2008 31/03/2007Interest and similar income 414,669 347,976 Lebanese Treasury bills and other government bills 80,898 88,465 Deposits and similar accounts in banks and financial 159,500 150,959 institutions Deposits in head office, branches and affiliates Bonds and financial instruments with fixed income 22,930 11,125 Loans and advances to customers 141,002 87,638 Loans and advances to related parties 4,904 4,249 Other interest and similar income 5,435 5,540 Interest on leasing contractsInterest expense and similar charges 273,871 225,031 Deposits and similar accounts from banks and financial 7,523 2,181 institutions Deposits from head office, branches and affiliates Deposits from customers and other creditor accounts 244,974 209,695 Deposits from related parties 4,423 3,715 Cash contribution to capital and subordinated loans Certificates of deposit 13,399 3,996 Bonds and financial instruments with fixed income Other interest and similar charges 3,552 5,444 Interest on leasing contractsNet provisions and recoveries on doubtful loans 4,386 2,025 Provisions for doubtful loans 9,086 10,054 Of which: provision setup related to commercial loans(granted by leasing companies) Recoveries of provisions for doubtful loans -4,700 -8,029 Of which: provision write-back related to commercial loans(granted by leasing companies) Of which: provision write-back related to leasing contracts Provision related to leasing contractsNet interest income 136,412 120,920Revenues from shares, securities & financial assets with variable 156 4,107incomeNet commissions 44,739 32,851 Commissions received 54,248 40,271 Of which: commission related to leasing contracts Commissions paid -9,509 -7,420 Of which: commission related to leasing contractsProfit on financial operations 59,556 25,617 Profit on marketable securities 8,147 1,580 Profit on financial fixed assets 3,380 Profit on foreign exchange position 10,617 5,099 Profit on financial instruments 40,792 15,558Loss on financial operations 26,043 4,047 Loss on marketable securities 6,347 654 Loss on financial fixed assets 696 Loss on foreign exchange position 4,597 686 Loss on financial instruments 14,403 2,707Net income from financial operations 33,513 21,570Other operating income 12,289 7,109Other operating expenses 3,760 3,339Total operating income 223,349 183,218General and administrative expenses 114,781 92,955 Salaries wages and related charges 67,824 50,029 Employees' stock options expense as per IFRS 2 2,409 4,363 General operating expenses 44,548 38,563Depreciation and amortization 8,629 9,230Provisions on investments 4,070Provisions on contingent accounts & other risks 578 -20Profit from operations before taxation 100,517 85,083Net nonrecurring operations -676 55 Nonrecurring income 827 619 Nonrecurring expenses -1,503 -564Income tax 17,966 13,477Our part in affiliates under equity method 498 313 Non financial institutions 498 313 Financial institutionsNet profit for the period 82,373 71,974 Group share 77,924 70,862 Minority share 4,449 1,112 This information is provided by RNS The company news service from the London Stock Exchange