29 Apr 2009 17:00
Bank Audi s.a.l. - Audi Saradar Group
Consolidated Unaudited Results for the 1st three months of 2009
Total assets of US$ 20.7 billion;
Customer deposits of US$ 17.6 billion;
Shareholders' equity of US$ 2.0 billion;
Net profits of US$ 61.0 million in the first quarter of 2009.
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| Bank Audi s.a.l. - Audi Saradar Group | ||
| Consolidated Balance Sheet (Unaudited) | ||
|
|
| (LL million) |
| Assets | 31/03/2009 | 31/12/2008 |
| Cash and balances with Central Banks | 4,430,006 | 4,440,913 |
| Due from banks & financial institutions | 5,267,196 | 5,460,553 |
| Due from head office, sister, related banks and financial institutions |
|
|
| Financial assets given as collateral and reverse repurchase agreements |
|
|
| Derivative financial instruments | 35,003 | 48,442 |
| Financial assets held for trading | 341,873 | 21,142 |
| Financial assets designated at fair value through profit & loss | 312,333 | 324,105 |
| Net loans & advances to customers * | 8,835,655 | 8,982,761 |
| Net loans & advances to related parties | 254,055 | 256,876 |
| Debtors by acceptances | 217,431 | 234,396 |
| Available for sale financial instruments | 3,863,275 | 3,807,478 |
| Financial assets classified as loans and receivables | 6,279,509 | 5,910,767 |
| - Credit risk ceded | 1,095,203 | 1,176,632 |
| - Net Exposure | 5,184,306 | 4,734,135 |
| Held to maturity financial instruments | 242,928 | 259,918 |
| Investments in associates | 32,084 | 33,124 |
| Investment properties |
|
|
| Property & equipment | 522,326 | 479,888 |
| Intangible fixed assets | 17,625 | 18,937 |
| Non current assets held for sale | 30,010 | 38,534 |
| Deferred taxes assets | 10,148 | 10,852 |
| Other assets | 305,751 | 230,231 |
| Goodwill | 212,605 | 209,675 |
| Total Assets | 31,209,813 | 30,768,592 |
| * After deduction of provisions amounting to LL (million) 196,827 from loans and advances to customers as per IAS 39, of which LL (million) 15,606 representing provisions on collective assessment. | ||
| Bank Audi s.a.l. - Audi Saradar Group | ||
| Consolidated Balance Sheet (Unaudited) | ||
|
| (LL million) | |
| Liabilities & Shareholders' Equity | 31/03/2009 | 31/12/2008 |
| Due to Central Banks |
|
|
| Due to banks & financial institutions | 551,955 | 699,150 |
| Due to head office, sister, related banks and financial institutions |
|
|
| Financial assets taken as collateral & repurchase agreement |
|
|
| Derivative financial instruments | 16,815 | 46,588 |
| Financial liabilities held for trading |
|
|
| Financial liabilities designated at fair value through profit & loss |
|
|
| Customers deposits | 26,340,970 | 25,736,656 |
| Deposits from related parties | 245,069 | 237,030 |
| Debt issued & other borrowed funds | 157,143 | 153,148 |
| Engagements by acceptances | 217,431 | 234,396 |
| Current tax liabilities | 75,214 | 71,780 |
| Deferred tax liabilities | 4,888 | 2,479 |
| Other liabilities | 568,238 | 570,483 |
| Liabilities related to non-current assets held for sale |
|
|
| Provisions for risks & charges | 17,005 | 22,426 |
| End of service benefits | 31,586 | 30,644 |
| Subordinated loans & similar debts |
|
|
| Total Liabilities | 28,226,314 | 27,804,780 |
| Shareholders' Equity - Group Share | 2,858,338 | 2,832,673 |
| Capital - Common shares | 376,083 | 376,083 |
| Capital - Preferred shares | 57,750 | 57,750 |
| Issue premium - Common shares | 1,072,643 | 1,072,643 |
| Issue premium - Preferred shares | 281,438 | 281,438 |
| Cash contribution to capital | 72,586 | 72,586 |
| Capital reserves | 482,973 | 500,179 |
| Treasury shares | (56,673) | (58,091) |
| Retained earnings | 384,510 | 50,516 |
| Revaluation reserve of real estate | 18,600 | 18,600 |
| Reserve on revaluation of financial Instruments | 94,143 | 99,077 |
| Reserve for cash flow hedges |
| 1,258 |
| Foreign currency translation reserve | (15,355) | 6,809 |
| Other reserves | 1,458 | 2,277 |
| Result of the year | 88,182 | 351,548 |
| Minority Interest | 125,161 | 131,139 |
| Profit & Loss Accounts |
|
|
| Total Shareholders' Equity | 2,983,499 | 2,963,812 |
| Total Liabilities & Shareholders' Equity | 31,209,813 | 30,768,592 |
| Bank Audi s.a.l. - Audi Saradar Group | ||
| Consolidated Off Balance Sheet (Unaudited) | ||
|
| (LL million) | |
| OFF Balance Sheet | 31/03/2009 | 31/12/2008 |
| Financing Commitments |
|
|
| - Financing commitments given to banks & financial institutions | 461,540 | 565,196 |
| - Financing commitments received from banks & financial institutions |
|
|
| - Engagement to customers | 558,694 | 589,427 |
| Bank guarantees : |
|
|
| - Guarantees given to banks & financial institutions | 410,904 | 253,331 |
| of which: credit derivatives |
|
|
| - Guarantees received from banks & financial institutions | 442,306 | 299,274 |
| of which: credit derivatives |
|
|
| - Guarantees given to customers | 1,507,421 | 1,342,842 |
| - Guarantees received from customers | 3,886,239 | 4,077,579 |
| Financial Notes Commitments |
|
|
| - Financial notes commitments to be received |
|
|
| of which: financial instruments sold with a buy back option |
|
|
| - Financial notes commitments to be delivered |
|
|
| of which: financial instruments purchased with a buy back option |
|
|
| Foreign Currencies Forwards |
|
|
| - Foreign currencies to receive | 1,378,149 | 1,222,074 |
| - Foreign currencies to deliver | 1,376,858 | 1,237,529 |
| Commitments on term financial instruments | 83,227 | 104,102 |
| Other commitments |
|
|
| Claims from legal cases |
|
|
| Fiduciary assets | 2,514,732 | 2,743,542 |
| Assets under management | 7,018,645 | 7,061,327 |
| Mutual funds |
|
|
| Structured financial products |
|
|
| Engagements unlikely to be executed |
|
|
| Bad debts fully provided for | 307,050 | 313,125 |
| Bank Audi s.a.l. - Audi Saradar Group | ||
| (LL million) | ||
| Consolidated Income Statement (Unaudited) | Period ended 31/03/2009 | Period ended 31/03/2008 |
| Interest & similar income | 427,546 | 414,743 |
| Interest & similar expenses | (283,184) | (274,037) |
| Net Interest Income | 144,362 | 140,706 |
| Fees & commissions income | 58,588 | 54,248 |
| Fees & commissions expenses | (10,716) | (9,509) |
| Net Fees & Commissions Income | 47,872 | 44,739 |
| Net trading income/loss | 15,465 | 32,438 |
| Net gain or loss on financial assets or liabilities designated at fair value through profit & loss | (315) | (2,266) |
| Net gain or loss on financial investments | 13,767 | 3,589 |
| Other operating Income | 22,236 | 13,314 |
| Total Operating Income | 243,387 | 232,520 |
| Net provisions for credit losses | (6,966) | (4,386) |
| Provision on impairement of financial instruments | (459) |
|
| Net Operating income | 235,962 | 228,134 |
| Personnel expenses | (69,561) | (70,233) |
| Depreciation of property & equipment | (7,948) | (7,399) |
| Amortization of intangible assets | (1,814) | (1,229) |
| Goodwill Impairement |
|
|
| Other operating expenses | (49,481) | (48,581) |
| Total Operating Expenses | (128,804) | (127,442) |
| Operating Profits | 107,158 | 100,692 |
| Share of profits of associates under equity method | 209 | 498 |
| Net gain (loss) on sale or disposal of other assets | 317 | (851) |
| Profits Before Tax | 107,684 | 100,339 |
| Income tax | (15,791) | (17,966) |
| Profits After Tax from Operating Activities | 91,893 | 82,373 |
| Result of discontinued operations |
|
|
| Net Profits | 91,893 | 82,373 |
| Minority Interest | 3,711 | 4,449 |
| Net Profits - Group share | 88,182 | 77,924 |
| Basic earnings per share LL | 2,514 | 2,159 |
| Diluted earnings per share LL | 2,466 | 2,041 |