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Unaudited Final Results

30 Jan 2014 16:04

RNS Number : 9251Y
Bank Audi SAL- Audi Saradar Group
30 January 2014
 



Bank Audi sal - Audi Saradar Group

 

 

 

Among Leading Regional Banking Groups

 

US$ 36.1 billion in total assets as at 31/12/2013

 

 

Consolidated Activity Highlights as at End-December 2013

 

· US$ 31.1 billion of customers' deposits

· US$ 14.7 billion of net loans to customers

· US$ 9.3 billion of assets under management

· US$ 2.7 billion of shareholders' equity

· US$ 305 million of net profits in 2013

 

 

 

Main Financial Indicators

 

· 11% of capital adequacy ratio as per Basel III

· 2.7% only of gross doubtful loans to gross loans ratio

· 40.1% of primary liquidity to customers' deposits ratio

· 12.6% of return on average common equity

 

Consolidated Statement of Financial Position (Unaudited)

Bank Audi sal - Audi Saradar Group 

 (LBP million)

Assets

31/12/2013

Restated *

31/12/2012

Cash and balances with Central Banks

9,192,108

9,462,380

Deposits with banks and financial institutions

4,082,921

4,280,978

Due from head office, sister, related banks and financial institutions

Loans to banks and financial institutions and reverse repurchase agreements

657,945

1,060,267

Financial assets given as collateral

Derivative financial instruments

136,062

51,046

Shares and participations at fair value through profit and loss

64,632

52,222

Debt instruments and other similar financial assets at fair value through profit and loss

344,451

458,435

Of which: Net advances and loans at fair value through profit and loss

47,844

75,555

Net loans and advances to customers at amortized cost (1)

22,050,871

15,416,403

Net loans and advances to related parties at amortized cost (2)

114,829

304,511

Debtors by acceptances

262,689

182,715

Debt instruments classified at amortized cost (3)

16,023,035

14,549,116

Shares and participations at fair value through other comprehensive income

272,475

245,793

Investments in associates

28,615

34,230

Assets taken in settlement of debts

14,334

15,113

Property and equipment

575,836

528,710

Intangible fixed assets

82,259

49,600

Non current assets held for sale

4,984

34,941

Other assets

327,616

239,632

Goodwill

211,144

222,846

Total Assets

54,446,806

47,188,938

(1) After deduction of provisions amounting to LBP 524,644 million from loans and advances to customers as per IAS 39, of which LBP 196,960 million representing provisions on collective assessment .

(2) Loans granted to related parties against cash collateral amounted to LBP 62,607 million.

(3) Includes an amount of LBP 1,812 billion with risk ceded to customers.

 * Restatement for the effect of adopting IAS 19 (Revised)

 

 

Consolidated Statement of Financial Position (Unaudited)

Bank Audi sal - Audi Saradar Group 

 (LBP million)

Liabilities

31/12/2013

Restated *

31/12/2012

Due to Central Banks

252,042

133,108

Due to banks and financial institutions and repurchase agreement

1,666,978

1,852,661

Due to head office, sister, related banks and financial institutions

Financial assets taken as a guarantee

Derivative financial instruments

134,466

56,042

Financial liabilities at fair value through profit and loss

Of which: deposits at fair value through profit and loss

Customers' deposits at amortized cost

46,117,597

39,718,890

Deposits from related parties at amortized cost

757,590

689,101

Debt issued and other borrowed funds

Engagements by acceptances

262,689

182,715

Other liabilities

521,474

407,737

Provisions for risks and charges

130,280

108,486

Subordinated loans and similar debts

537,101

Non current liabilities held for sale

14,799

Total Liabilities

50,380,217

43,163,539

Shareholders' Equity - Group Share

Share capital - Common shares

454,324

438,586

Share capital - Preferred shares

6,495

19,124

Issue premium - Common shares

659,206

659,206

Issue premium - Preferred shares

747,255

583,876

Cash contribution to capital

72,586

72,586

Legal and statutory reserves

960,183

808,434

Reserves available for distribution

594,069

551,406

Treasury shares

(114,327)

(20,245)

Retained earnings

440,776

328,223

Proposed dividends

Revaluation reserve of real estate

20,375

20,375

Reserve on revaluation of financial assets at fair value through other comprehensive income

119,442

86,805

Remeasurement actuarial (Gain)/Loss on defined benefit plan

(11,538)

(10,793)

Foreign currency translation reserve

(399,883)

(173,759)

Result of the year

454,669

564,737

Total Shareholders' Equity - Group share

4,003,632

3,928,561

Non controlling interest

62,957

96,838

Total Shareholders' Equity

4,066,589

4,025,399

Total Liabilities and Shareholders' Equity

54,446,806

47,188,938

 

 

Consolidated Off Balance Sheet (Unaudited)

Bank Audi sal - Audi Saradar Group 

(LBP million) 

OFF Balance Sheet

31/12/2013

31/12/2012

Financing commitments

- Financing commitments given to banks and financial institutions

570,906

353,763

- Financing commitments received from banks and financial institutions

- Engagement to customers

752,526

460,963

Bank guarantees :

- Guarantees given to banks and financial institutions

346,348

390,904

Of which: credit derivatives

889

528

- Guarantees received from banks and financial institutions

424,712

447,939

Of which: credit derivatives

- Guarantees given to customers

2,310,596

1,921,292

- Guarantees received from customers

20,839,349

13,080,056

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

4,355,887

2,775,034

- Foreign currencies to deliver

4,370,373

2,782,774

Engagements on term financial instruments

7,143,169

2,243,844

Other commitments

Claims from legal cases

Fiduciary accounts

1,389,016

1,215,349

under specific instructions

1,351,026

1,128,697

under discretionary investments

37,990

86,652

Assets under management

12,286,291

11,274,636

Mutual funds

327,000

244,763

Structured financial products

Engagements unlikely to be executed

Bad debts written off during the year

14,371

158,427

 

 

Bank Audi sal - Audi Saradar Group 

(LBP million)

Consolidated Income statement (unaudited)

2013

2012

Interest and similar income

2,723,405

2,208,509

Interest and similar expense

(1,735,489)

(1,344,819)

Net Interest Income

987,916

863,690

Fee and commission income

351,846

330,562

Fee and commission expense

(68,778)

(51,197)

Net Fee and Commission Income

283,068

279,365

Net gain on financial assets or liabilities at fair value through profit and loss

136,434

197,456

Of which: interest income

26,719

38,421

Net gain on financial investments

193,598

296,057

Other operating Income

12,840

22,251

Total Operating Income

1,613,856

1,658,819

Net provisions for credit losses

(136,139)

(182,475)

Credit losses related to debt instruments classified at amortized cost

Provisions for doubtful loans

(148,323)

(202,104)

Recoveries of provisions for doubtful loans

12,184

19,629

Impairment loss on financial instruments

736

(110)

Net Operating Income

1,478,453

1,476,234

Personnel expenses

(493,029)

(411,746)

Other operating expenses

(344,066)

(291,959)

Depreciation of property and equipment

(52,723)

(46,088)

Amortization of intangible assets

(16,092)

(7,663)

Impairment of goodwill

(21,167)

Total Operating Expenses

(905,910)

(778,623)

Operating Profit

572,543

697,611

Share of profit of associates under equity method

1,169

551

Net gain on disposal of assets

686

850

Profit Before Tax

574,398

699,012

Income tax

(114,680)

(154,537)

Profit After Tax from Operating Activities

459,718

544,475

Result of discontinued operations, net of tax

(600)

33,814

Profit for the Year

459,118

578,289

Non-controlling interest

4,449

13,552

Profit For The Year - Group share

454,669

564,737

Basic earnings per share LL

1,200.0

1,527.0

Diluted earnings per share LL

1,200.0

1,526.4

Basic earnings per share from continuing operations LL

1,200.0

1,431.0

Diluted earnings per share from continuing operations LL

1,200.0

1,430.0

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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