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Unaudited Half Year Results

23 Jul 2015 16:00

RNS Number : 9284T
Bank Audi S.A.L.
23 July 2015
 



 

Bank Audi

 

 

A Leading Regional Banking Group

US$ 42.3 billion in total assets as at 30/06/2015

of which 47% from entities outside Lebanon and 32% in investment grade countries

 

 

Consolidated Activity Highlights as at End-June 2015

 

 

A Leading Positioning in Main Countries of Presence

 

· US$ 36.1 billion of total customers' deposits, of which 45% from entities outside Lebanon

· US$ 17.0 billion of loans to customers, of which 66% from entities outside Lebanon

· US$ 3.1 billion of shareholders' equity, of which 88% of core common shareholders' equity

· US$ 202 million of net profits in the first half of 2015, growing by 7% relative to the first

half of 2014, of which 48% from entities outside Lebanon

 

 

 

Financial Standing Indicators

 

· 12.8% of capital adequacy ratio as per Basel III

· 3.1% only of gross doubtful loans to gross loans ratio, reaching 0.9% when deducting

specific loan loss reserves, excluding collective provisions

· 45.5% 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

30/06/2015

31/12/2014

Cash and balances with Central Banks

13,327,836

13,247,387

Deposits with banks and financial institutions

3,345,028

3,608,892

Loans to banks and financial institutions and reverse repurchase agreements

2,769,545

2,928,743

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

-

-

Financial assets given as collateral

-

-

Derivative financial instruments

253,217

197,127

Shares and participations at fair value through profit and loss

61,159

58,170

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

401,841

458,652

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

8,521

12,043

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

25,467,212

25,775,338

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

212,380

110,007

Debtors by acceptances

329,583

340,480

Debt instruments classified at amortized cost (3)

15,755,128

14,573,743

Shares and participations at fair value through other comprehensive income

139,697

135,706

Investments in associates

32,677

27,762

Assets taken in settlement of debts

19,121

18,510

Property and equipment

952,360

948,541

Intangible fixed assets

90,944

92,652

Non current assets held for sale

-

-

Other assets

432,327

536,536

Goodwill

192,623

197,473

Total assets

63,782,678

63,255,719

(1) After deduction of provisions amounting to LBP 677,706 million from loans and advances to customers as per IAS 39, of which

LBP 214,459 million representing provisions on collective assessment.

(2) Loans granted to related parties against cash collateral amounted to LBP 150,626 million.

(3) Includes an amount of LBP 2,278 billion with risk ceded to customers.

 

 

 

Bank Audi

 

Consolidated Statement of Financial Position (Unaudited)

(LBP Million)

LIABILITIES

30/06/2015

31/12/2014

Due to Central Banks

475,435

438,385

Due to banks and financial institutions and repurchase agreement

1,900,900

1,785,794

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

-

-

Financial assets taken as a guarantee

-

-

Derivative financial instruments

162,614

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

53,708,865

53,413,209

Deposits from related parties at amortized cost

721,107

586,621

Debt issued and other borrowed funds

127,206

89,528

Engagements by acceptances

329,583

340,480

Other liabilities

517,549

519,980

Provisions for risks and charges

151,100

153,961

Subordinated loans and similar debts

972,465

764,927

Non current liabilities held for sale

-

-

Total liabilities

59,066,824

58,209,188

Shareholders' Equity - Group share

Share capital - Common shares

659,586

659,586

Share capital - Preferred shares

6,188

8,250

Issue premium - Common shares

883,582

883,582

Issue premium - Preferred shares

559,125

745,500

Subsidiary shares warrants

17,195

17,195

Share Capital and Cash contribution to capital

72,586

72,586

Non distributable reserves

1,181,091

1,050,579

Distributable reserves

618,806

616,976

Treasury shares

(7,594)

(4,929)

Retained earnings

691,354

599,388

Proposed dividends

-

-

Revaluation reserve of real estate

353,974

353,974

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

30,540

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

(634,864)

(552,183)

Net (loss) gain on hedge of net investments in foreign entities

(61,580)

348

Result of the current Period

290,737

513,500

Shareholders' Equity _ Group Share

4,652,117

4,983,270

Non Controlling Interest

63,737

63,261

Total shareholders' equity

4,715,854

5,046,531

Total liabilities and shareholders' equity

63,782,678

63,255,719

 

 

Bank Audi

(LBP Million)

Consolidated Off Balance Sheet (Unaudited)

30/06/2015

31/12/2014

Financing commitments

Financing commitments given to banks and financial institutions

707,366

706,121

Financing commitments given to customers

4,693,749

4,615,772

Bank guarantees

-

-

Guarantees given to banks and financial institutions

245,469

385,315

Of which: credit derivatives

-

-

Guarantees received from banks and financial institutions

2,462,795

3,162,128

Of which: credit derivatives

-

-

Guarantees given to customers

2,394,862

2,302,773

Guarantees received from customers

25,897,529

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

7,566,260

5,049,267

Foreign currencies to deliver

7,606,732

5,053,068

Commitments on term financial instruments

12,056,927

10,411,834

Other Commitments

-

-

Claims from legal cases

-

-

Fiduciary accounts

1,997,027

1,727,524

Under specific instructions

1,686,654

1,427,779

Under discretionary investments

310,373

299,745

Assets under management

13,030,359

12,933,370

Mutual funds

506,772

561,719

Structured financial products

-

Engagement unlikely to be executed

-

Bad debts written off during the year

17,361

13,676

 

 

 

Bank Audi

 

(LBP Million)

Consolidated Income statement (unaudited)

30/06/2015

30/06/2014

Interest and similar income

1,830,198

1,653,488

Interest and similar expense

(1,142,209)

(1,063,084)

Net interest margin

687,989

590,404

Fee and commission income

234,563

213,660

Fee and commission expense

(44,749)

(40,056)

Net Fee and commission Income

189,814

173,604

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

31,265

26,232

Of which: interest income

13,792

6,331

Net gain on financial investments

101,168

140,775

Other operating Income

7,445

4,182

Total operating income

1,017,681

935,197

Net provisions for credit losses

(92,662)

(52,243)

of which: Credit losses related to debt instruments classified at amortized cost

210

447

Impairment on related financial instruments

-

-

Net Operating income

925,019

882,954

Personnel expenses

(308,587)

(296,088)

Other operating expenses

(185,849)

(186,850)

Depreciation of property and equipment

(36,427)

(31,765)

Amortization of intangible assets

(13,592)

(10,880)

Impairment of goodwill

-

-

Total Operating Expenses

(544,455)

(525,583)

Operating Profit

380,564

357,371

Share of profit of associates under equity method

2,107

194

Net gain (loss) on sale or disposal of other asset

104

880

Profit before tax

382,775

358,445

Income tax

(78,118)

(72,437)

Profit after tax

304,657

286,008

Result of discontinued operations, net of tax

-

48

Profit for the current period

304,657

286,056

Minority Share Profit for the current period

13,920

7,711

Group Share Profit for the current period

290,737

278,345

Basic earnings per share LBP

686

738

Basic earnings per share from continuing operations LBP

686

738

 

 

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