21 Oct 2015 16:00
Bank Audi
A Leading Positioning in Main Countries of Presence
US$ 42.4 billion in total assets as at 30/09/2015
of which 48% from entities outside Lebanon and 32% in investment grade countries
Consolidated Activity Highlights as at End-September 2015
Diversified Sources of Assets and Profits
· US$ 35.8 billion of total customers' deposits, of which 45% from entities outside Lebanon
· US$ 17.0 billion of loans to customers, of which 65% from entities outside Lebanon
· US$ 3.2 billion of shareholders' equity, of which 88% of core common shareholders' equity
· US$ 304 million of net profits in the first nine months of 2015, growing by 8.7% relative to the corresponding period of 2014, of which 46% from entities outside Lebanon
Main Financial Indicators
· 13.0% of capital adequacy ratio as per Basel III
· 3.2% only of gross doubtful loans to gross loans ratio, reaching 0.9% when deducting specific loan loss reserves, excluding collective provisions
· 46.4% of primary liquidity to customers' deposits ratio
· 13.8% of return on average common equity
Universal Banking Offering through 11 Banks
and 3 Financial Companies in 12 Countries
LEBANON │ SWITZERLAND │ FRANCE │ JORDAN │SYRIA │ EGYPT│ SUDAN │ KINGDOM OF SAUDI ARABIA │ QATAR │ MONACO│ TURKEY│ REP. OFF. IN ABU DHABI
Bank Audi sal www.bankaudigroup.com
Bank Audi
Consolidated Statement of Financial Position (Unaudited) | ||
(LBP Million) | ||
ASSETS | 30/09/2015 | 31/12/2014 |
Cash and balances with Central Banks | 14,404,699 | 13,247,387 |
Deposits with banks and financial institutions | 2,210,313 | 3,608,892 |
Loans to banks and financial institutions and reverse repurchase agreements | 3,029,191 | 2,928,743 |
Due from head office, sister, related banks and financial institutions | - | - |
Financial assets given as collateral | - | - |
Derivative financial instruments | 382,669 | 197,127 |
Shares and participations at fair value through profit and loss | 54,098 | 58,170 |
Debt instruments and other similar financial assets at fair value through profit and loss | 468,634 | 458,652 |
Of which: Net advances and loans at fair value through profit and loss | - | 12,043 |
Net loans and advances to customers at amortized cost (1) | 25,429,902 | 25,775,338 |
Net loans and advances to related parties at amortized cost (2) | 219,626 | 110,007 |
Debtors by acceptances | 280,271 | 340,480 |
Debt instruments classified at amortized cost (3) | 15,483,859 | 14,573,743 |
Shares and participations at fair value through other comprehensive income | 139,239 | 135,706 |
Investments in associates | 13,753 | 27,762 |
Assets taken in settlement of debts | 19,977 | 18,510 |
Property and equipment | 936,488 | 948,541 |
Intangible fixed assets | 98,855 | 92,652 |
Non current assets held for sale | - | - |
Other assets | 478,442 | 536,536 |
Goodwill | 205,155 | 197,473 |
Total assets | 63,855,171 | 63,255,719 |
(1) After deduction of provisions amounting to LBP 689,661 million from loans and advances to customers as per IAS 39, of which | ||
LBP 212,523 million representing provisions on collective assessment . | ||
(2) Loans granted to related parties against cash collateral amounted to LBP 152,709 million. | ||
(3) Includes an amount of LBP 2,321 billion with risk ceded to customers. | ||
Bank Audi
Consolidated Statement of Financial Position (Unaudited) | ||
(LBP Million) | ||
LIABILITIES | 30/09/2015 | 31/12/2014 |
Due to Central Banks | 506,353 | 438,385 |
Due to banks and financial institutions and repurchase agreement | 2,311,029 | 1,785,794 |
Due to head office, sister, related banks and financial institutions | - | - |
Financial assets taken as a guarantee | - | - |
Derivative financial instruments | 199,114 | 116,303 |
Financial liabilities at fair value through profit and loss | - | - |
Of which: deposits at fair value through profit and loss | - | - |
Customers' deposits at amortized cost | 53,351,768 | 53,413,209 |
Deposits from related parties at amortized cost | 661,181 | 586,621 |
Debt issued and other borrowed funds | 77,042 | 89,528 |
Engagements by acceptances | 280,271 | 340,480 |
Other liabilities | 543,958 | 519,980 |
Provisions for risks and charges | 162,461 | 153,961 |
Subordinated loans and similar debts | 976,801 | 764,927 |
Non current liabilities held for sale | - | - |
Total liabilities | 59,069,978 | 58,209,188 |
Shareholders' Equity - Group share | ||
Share capital - Common shares | 661,985 | 659,586 |
Share capital - Preferred shares | 6,210 | 8,250 |
Issue premium - Common shares | 883,582 | 883,582 |
Issue premium - Preferred shares | 559,102 | 745,500 |
Subsidiary shares warrants | 17,195 | 17,195 |
Share Capital and Cash contribution to capital | 72,586 | 72,586 |
Non distributable reserves | 1,179,101 | 1,050,579 |
Distributable reserves | 618,805 | 616,976 |
Treasury shares | (8,161) | (4,929) |
Retained earnings | 695,292 | 599,388 |
Proposed dividends | - | - |
Revaluation reserve of real estate | 353,122 | 353,974 |
Reserve on revaluation of financial assets at fair value through other comprehensive income | 28,542 | 27,527 |
Remeasurement actuarial (gain)/Loss on defined benefit plan | (13,155) | (13,155) |
Share of associates' other comprehensive income under equity method | 4,546 | 4,546 |
Foreign currency translation reserve | (695,573) | (552,183) |
Net (loss) gain on hedge of net investments in foreign entities | (83,072) | 348 |
Result of the current Period | 440,411 | 513,500 |
Shareholders' Equity _ Group Share | 4,720,518 | 4,983,270 |
Non Controlling Interest | 64,675 | 63,261 |
Total shareholders' equity | 4,785,193 | 5,046,531 |
Total liabilities and shareholders' equity | 63,855,171 | 63,255,719 |
Bank Audi
(LBP Million) | ||
Consolidated Off Balance Sheet (Unaudited) | 30/09/2015 | 31/12/2014 |
Financing commitments | ||
Financing commitments given to banks and financial institutions | 658,850 | 706,121 |
Financing commitments given to customers | 4,978,475 | 4,615,772 |
Bank guarantees | - | - |
Guarantees given to banks and financial institutions | 227,794 | 385,315 |
Of which: credit derivatives | - | - |
Guarantees received from banks and financial institutions | 3,235,014 | 3,162,128 |
Of which: credit derivatives | - | - |
Guarantees given to customers | 2,394,459 | 2,302,773 |
Guarantees received from customers | 29,049,610 | 25,405,355 |
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 | 7,706,460 | 5,049,267 |
Foreign currencies to deliver | 7,734,418 | 5,053,068 |
Commitments on term financial instruments | 10,472,391 | 10,411,834 |
Other Commitments | - | - |
Claims from legal cases | - | - |
Fiduciary accounts | 1,859,201 | 1,727,524 |
Under specific instructions | 1,554,752 | 1,427,779 |
Under discretionary investments | 304,449 | 299,745 |
Assets under management | 12,158,345 | 12,933,370 |
Mutual funds | 427,254 | 561,719 |
Structured financial products | - | - |
Engagement unlikely to be executed | - | - |
Bad debts written off during the year | 20,691 | 13,676 |
Bank Audi
(LBP Million) | ||
Consolidated Income statement (unaudited) | 30/09/2015 | 30/09/2014 |
Interest and similar income | 2,802,206 | 2,507,454 |
Interest and similar expense | (1,721,824) | (1,624,086) |
Net interest margin | 1,080,382 | 883,368 |
Fee and commission income | 367,597 | 335,923 |
Fee and commission expense | (70,441) | (63,164) |
Net Fee and commission Income | 297,156 | 272,759 |
Net gain on financial assets or liabilities at fair value through profit and loss | 2,617 | 68,551 |
Of which: interest income | 20,063 | 9,757 |
Net gain on financial investments | 158,375 | 210,006 |
Other operating Income | 10,607 | 5,595 |
Total operating income | 1,549,137 | 1,440,279 |
Net provisions for credit losses | (147,871) | (106,678) |
Net Operating income | 1,401,266 | 1,333,601 |
Personnel expenses | (464,238) | (465,382) |
Other operating expenses | (287,200) | (274,271) |
Depreciation of property and equipment | (55,083) | (47,917) |
Amortization of intangible assets | (20,945) | (16,933) |
Impairment of goodwill | - | - |
Total Operating Expenses | (827,466) | (804,503) |
Operating Profit | 573,800 | 529,098 |
Share of profit of associates under equity method | 2,458 | 2 |
Net gain (loss) on disposal of other asset | (34) | 886 |
Profit before tax | 576,224 | 529,986 |
Income tax | (117,674) | (108,105) |
Profit after tax | 458,550 | 421,881 |
Result of discontinued operations, net of tax | - | 40 |
Profit for the current period | 458,550 | 421,921 |
Minority Share Profit for the current period | 18,139 | 12,404 |
Group Share Profit for the current period | 440,411 | 409,517 |
Basic earnings per share LBP | 1,039 | 1,072 |
Basic earnings per share from continuing operations LBP | 1,039 | 1,072 |