BQAD.L Regulatory News (BQAD)

31 Jan 2007 09:37

Bank Audi SAL- Audi Saradar Group31 January 2007 Please find below the Un-audited Consolidated Balance Sheet of Bank Audi SAL -Audi Saradar Group as at December 31, 2006. Audited figures will be released once available (expected mid-February 2007). Consolidated Balance Sheet as at December 31, 2006 Un-audited (LL millions) ASSETS 2006 2005 LL C/V LL TOTAL LL C/V LL TOTAL Cash and Central Banks 2,340,602 3,171,834 5,512,436 2,446,676 2,649,820 5,096,496 - Cash 25,592 65,936 91,528 23,317 52,498 75,815 - Credit risk ceded 212,288 212,288 201,148 201,148 - Net Exposure 2,315,010 2,893,610 5,208,620 2,423,359 2,396,174 4,819,533Lebanese Treasury bills and other government 1,127,533 3,075,629 4,203,162 1,432,777 1,898,893 3,331,670bills - Credit risk ceded 478,842 478,842 - Net Exposure 1,127,533 2,596,787 3,724,320 1,432,777 1,898,893 3,331,670Bonds and financial instruments with fixed 708,733 708,733 743,367 743,367incomeShares, securities and financial assets with 7,097 214,640 221,737 9,491 194,202 203,693variable incomeBanks and financial institutions 71,567 4,655,718 4,727,285 144,281 3,304,547 3,448,828- Current accounts 14,529 618,235 632,764 12,645 532,408 545,053- Time deposits 57,038 4,037,483 4,094,521 131,636 2,772,139 2,903,775- Purchase of financial instruments with anoption to resell Due from Head office, branches and affiliates- Current accounts- Time depositsLoans and advances to customers * 242,301 4,639,713 4,882,014 251,412 3,468,654 3,720,066- Commercial loans** 177,683 3,895,692 4,073,375 107,486 2,913,927 3,021,413- Other loans to customers** 35,437 454,198 489,635 111,129 351,143 462,272- Overdraft accounts 2,643 12,107 14,750 2,358 55,448 57,806- Net debtor accounts against creditor and 775 775 308 308cash collateral accounts- Advances to related parties (o.w.cash 47,662 186,710 234,372 44,572 92,231 136,803collateral of LL 136.37 billion as atDecember end 2006)- Doubtful loans*** (21,124) 90,231 69,107 (14,133) 55,597 41,464Bank acceptances 136,994 136,994 129,184 129,184Investments and related loans 1 128,924 128,925 1 45,434 45,435Investments and related loans under equity 4,201 17,207 21,408 3,951 3,201 7,152method-Non financial institutions 4,201 17,207 21,408 3,951 3,201 7,152- Financial institutionsTangible fixed assets (including revaluation 284,068 177,386 461,454 296,155 87,842 383,997variance approved by the Central Bank)Intangible fixed assets 5,792 6,147 11,939 6,760 5,453 12,213Other assets 1,389 3,238 4,627 806 187 993Regularization accounts and other debtor 35,698 69,715 105,413 31,065 50,862 81,927accountsRevaluation variance on other fixed assetsGoodwill 33,838 180,242 214,080 33,838 65,492 99,330 TOTAL ASSETS*** 4,154,087 17,186,120 21,340,207 4,657,213 12,647,138 17,304,351 *Of which 30% against cash collateral as at December 2006 **Out of which sub-standard loans amounting 31,035 43,034to : ***After deduction of provision for doubtful 158,857 113,868loans and unrealised interest: **For sub-standard loans 5,616 10,875 ***For doubtful loans 68,729 58,616 Off-Balance Sheet Items Financing commitments received Signature commitments received 21,137 103,782 124,919 24,630 35,483 60,113 Financial instruments sold with a buy backoption Engagements on term financial instruments 115,250 115,250 - Option on forex swap 104,399 104,399- Option on interest swap 10,851 10,851Other engagements received 182,310 2,010,764 2,193,074 365,202 1,900,756 2,265,958Fiduciary assets and Assets under management 6,859 4,257,323 4,264,182 6,927 3,579,510 3,586,437Custody accounts 604,408 2,550,777 3,155,185 491,540 2,234,993 2,726,533Forward operations: 774,411 774,411 860,211 860,211-Foreign currencies to receive 774,411 774,411 860,211 860,211Bad debts transferred to off balance sheet 26,404 241,140 267,544 24,865 237,176 262,041items (LL millions)LIABILITIES 2006 2005 LL C/V LL TOTAL LL C/V LL TOTAL Central Bank 27,702 27,702 27,726 27,726Banks and financial institutions 3,570 281,747 285,317 121,244 286,885 408,129- Current accounts 2,408 182,335 184,743 10,351 130,392 140,743- Time deposits 1,162 99,412 100,574 110,893 156,493 267,386- Sale of financial instruments with anoption to rebuy Due to Head office, branches and affiliates- Current accounts- Time depositsDeposits from customers 3,148,357 14,709,071 17,857,428 3,777,751 11,129,191 14,906,942- Sight deposits 252,628 1,915,896 2,168,524 235,135 1,377,216 1,612,351- Time deposits 670,879 6,521,364 7,192,243 974,953 4,831,993 5,806,946- Savings accounts 2,190,837 4,601,673 6,792,510 2,502,706 4,081,775 6,584,481- Net creditor and cash collateral accounts 29,991 716,874 746,865 56,645 756,473 813,118against debtor accounts- Related parties accounts 4,022 953,264 957,286 8,312 81,734 90,046Engagements by acceptances 136,994 136,994 129,184 129,184Liabilities under financial instruments 153,148 153,148 153,148 153,148- Certificates of deposit 153,148 153,148 153,148 153,148- Debenture bonds- Other liabilities under financialinstrumentsOther liabilities 143,207 93,163 236,370 97,851 70,535 168,386Regularization accounts and other creditor 9,060 60,551 69,611 9,841 37,032 46,873accountsProvisions for risks and charges 30,607 14,350 44,957 22,463 4,152 26,615Subordinated notesShareholders' equity 698,223 1,581,593 2,279,816 519,725 758,092 1,277,817-Revaluation variance accepted in the 18,600 18,600 18,600 18,600supplementary capital-Share capital 404,944 136,421 541,365 304,967 109,131 414,098 - Group share 404,162 72,586 476,748 304,162 72,586 376,748 Ordinary shares 32.766.240 Preferred shares 7.650.000 - Minority share 782 63,835 64,617 805 36,545 37,350-Reserves for general banking risks 26,896 53,028 79,924 24,050 41,110 65,160 - Group share 26,885 52,993 79,878 24,040 41,082 65,122 - Minority share 11 35 46 10 28 38-Reserves and premiums and equity differences 220,713 1,327,553 1,548,266 160,866 512,691 673,557 - Group share 218,885 1,326,873 1,545,758 159,707 512,684 672,391 - Minority share 1,828 680 2,508 1,159 7 1,166-Employees' stock option plan as per IFRS 2 17,927 17,927-Less: Treasury GDR's (1,146) (10,585) (11,731) (519) (4,143) (4,662)-Profit carried forward 5,592 10,515 16,107 (932) 3,343 2,411 - Group share 5,565 10,557 16,122 (957) 3,316 2,359 - Minority share 27 (42) (15) 25 27 52-Net income for the year - Group share - Minority share-Cumulative changes in fair value 22,624 46,734 69,358 12,693 95,960 108,653Revaluation variance of fixed assetsIncome and expense accounts 215,301 33,563 248,864 149,611 9,920 159,531Total Liabilities & Shareholders' Equity 4,276,027 17,064,180 21,340,207 4,726,212 12,578,139 17,304,351 Off-Balance Sheet ItemsFinancing commitments given to: 213,253 213,253 213,354 213,354- Financial intermediaries 213,253 213,253 213,354 213,354- CustomersBank guarantees given to: 36,482 839,460 875,942 36,737 551,487 588,224- Financial intermediaries 1,292 230,656 231,948 2,500 78,329 80,829- Customers 35,190 608,804 643,994 34,237 473,158 507,395Financial instruments purchased with a buyback optionOther engagements 151 39 190Engagements on term financial instruments 29,227 29,227 29,227 29,227Fiduciary Deposits and Assets under 8,533 4,255,649 4,264,182 17,246 3,569,191 3,586,437managementCustody accounts 604,408 2,550,777 3,155,185 491,540 2,234,993 2,726,533Forward operations 774,599 774,599 856,556 856,556-Foreign currencies to deliver 774,599 774,599 856,556 856,556 Consolidated Income Statement Un-audited (LL millions) 31/12/2006 31/12/2005 * Interest and similar income 1,261,300 995,149Lebanese Treasury bills and other government bills 296,587 218,690Deposits and similar accounts in banks and financial institutions 578,399 488,807Deposits in head office, branches and affiliatesBonds and financial instruments with fixed income 57,519 41,719Loans and advances to customers 297,157 223,595Loans and advances to related parties 13,413 9,911Other interest and similar income 18,225 12,427Interest on leasing contractsInterest and similar charges 823,092 675,039Deposits and similar accounts from banks and financial institutions 16,170 37,115Deposits from head office, branches and affiliatesDeposits from customers and other creditor accounts 762,052 610,854Deposits from related parties 10,896 3,115Cash contribution to capital and subordinated loansCertificates of deposit 16,205 16,205Bonds and financial instruments with fixed incomeOther interest and similar charges 17,769 7,750Interest on leasing contractsNet provisions and recoveries on doubtful loans 22,251 31,647Provisions for doubtful loans 39,349 59,155 Of which: provision setup related to commercial loans(granted by leasingcompanies)Recoveries of provisions for doubtful loans (17,098) (27,508) Of which: provision write-back related to commercial loans(granted byleasing companies) Of which: provision write-back related to leasing contractsProvision related to leasing contractsNet interest received 415,957 288,463Revenues from shares, securities & financial assets with variable income 12,725 6,887Net commissions 104,585 96,989Commissions received 141,586 115,167 Of which: commission related to leasing contractsCommissions paid (37,001) (18,178) Of which: commission related to leasing contractsProfit on financial operations 160,992 87,317Profit on marketable securities 31,509 11,995Profit on financial fixed assets 13,449 353Profit on foreign exchange position 25,978 27,641Profit on financial instruments 90,056 47,328Loss on financial operations 35,362 13,086Loss on marketable securities 7,938 2,723Loss on financial fixed assets 2,348 41Loss on foreign exchange position 9,174 6,172Loss on financial instruments 15,902 4,150Net income from financial operations 125,630 74,231Other operating income 22,042 18,042Other operating expenses 8,473 4,749Total operating income 672,466 479,863General and administrative expenses 321,955 254,790Salaries wages and related charges 171,786 146,817Employees' stock options expense as per IFRS 2 17,927General operating expenses 132,242 107,973Amortization and depreciation 37,822 29,666Provision on investments (3,332) 960Provisions on contingent accounts & other risks (680) 593Profit from operations before taxation 308,677 196,960Net nonrecurring operations (10,828) (6,276) Nonrecurring income 2,986 7,702 Nonrecurring expenses (13,814) (13,978)Income tax 49,710 32,063Our part in affiliates under equity method 725 910 Non financial institutions 725 910 Financial institutionsNet profit for the year 248,864 159,531 Group share 247,823 158,060 Minority share 1,041 1,471 • Including the profit and loss account of Bank Audi sae for the second, third & fourth quarter and the fourth quarter of National Bank of Sudan only according to International Financial Reporting Standards (IFRS) This information is provided by RNS The company news service from the London Stock Exchange