31st Jul 2007 09:00
Bank Audi SAL- Audi Saradar Group31 July 2007 Consolidated Balance Sheet as at June 30, 2007 (Un-audited) (LL millions) ASSETS 30/06/2007 30/06/2006 LL C/V LL TOTAL LL C/V LL TOTALCash and Central Banks 2,517,535 3,772,241 6,289,776 2,633,301 2,866,891 5,500,192 - Cash 46,045 74,695 120,740 33,914 63,856 97,770 - Credit risk ceded 211,461 211,461 210,827 210,827 - Net Exposure 2,471,490 3,486,085 5,957,575 2,599,387 2,592,208 5,191,595Lebanese Treasury bills and other government bills & bonds 852,399 3,615,898 4,468,297 1,367,942 1,920,397 3,288,339 - Credit risk ceded 518,527 518,527 163,921 163,921 - Net Exposure 852,399 3,097,371 3,949,770 1,367,942 1,756,476 3,124,418Bonds and financial instruments with fixed income 698,155 698,155 1,402,242 1,402,242Shares, securities and financial assets with variable income 8,285 226,488 234,773 10,304 234,241 244,545Banks and financial institutions 61,462 4,569,811 4,631,273 46,790 3,428,815 3,475,605- Current accounts 20,335 832,094 852,429 4,966 852,158 857,124- Time deposits 41,127 3,737,717 3,778,844 41,824 2,576,657 2,618,481- Purchase of financial instruments with an option to resellDue from Head office, branches and affiliates- Current accounts- Time depositsLoans and advances to customers * 286,237 5,653,203 5,939,440 259,790 3,993,103 4,252,893- Commercial loans** 124,414 4,698,361 4,822,775 107,311 3,349,622 3,456,933- Other loans to customers** 115,659 597,670 713,329 109,340 436,993 546,333- Overdraft accounts 2,912 96,825 99,737 3,056 17,557 20,613- Net debtor accounts against creditor and cash collateral 408 408 468 468accounts- Advances to related parties (o.w.cash collateral of LL 51,733 194,682 246,415 46,501 139,074 185,575131.58 billion as at June end 2007)- Doubtful loans*** (8,481) 65,257 56,776 (6,418) 49,389 42,971Bank acceptances 219,135 219,135 146,021 146,021Investments and related loans 1 44,512 44,513 1 48,280 48,281Investments and related loans under equity method 4,319 18,254 22,573 4,251 4,006 8,257-Non financial institutions 4,319 18,254 22,573 4,251 4,006 8,257- Financial institutionsTangible fixed assets (including revaluation variance approved 281,112 195,081 476,193 290,788 113,546 404,334by the Central Bank)Intangible fixed assets 5,040 6,595 11,635 6,565 81,428 87,993Other assets 1,400 187 1,587 1,338 2,471 3,809Regularization accounts and other debtor accounts 32,528 99,106 131,634 38,483 85,047 123,530Revaluation variance on other fixed assetsGoodwill 33,831 184,719 218,550 33,838 118,934 152,772 TOTAL ASSETS*** 4,084,149 19,303,385 23,387,534 4,693,391 14,445,422 19,138,813 *Of which 27% against cash collateral as at June 2007 **Out of which sub-standard loans amounting to : 30,818 39,188***After deduction of provision for doubtful loans 163,182 145,037and unrealised interest:**For sub-standard loans 6,406 7,216***For doubtful loans 76,339 62,132 Off-Balance Sheet ItemsFinancing commitments receivedSignature commitments received 22,193 146,600 168,793 22,901 58,610 81,511Financial instruments sold with a buy back optionEngagements on term financial instruments- Option on forex swap- Option on interest swapOther engagements received 209,927 2,634,127 2,844,054 300,956 1,954,312 2,255,268Fiduciary assets and Assets under management 6,778 4,855,810 4,862,588 7,428 3,986,361 3,993,789Custody accounts 907,841 2,754,399 3,662,240 582,025 2,633,298 3,215,323Forward operations: 905,434 905,434 1,147,206 1,147,206 -Foreign currencies to receive 905,434 905,434 1,147,206 1,147,206Bad debts transferred to off balance sheet items 27,632 247,220 274,852 25,401 236,640 262,041 (LL millions) LIABILITIES 30/06/2007 30/06/2006 LL C/V LL TOTAL LL C/V LL TOTALCentral Bank 5,622 5,622 27,695 27,695Banks and financial institutions 4,035 306,013 310,048 27,494 282,643 310,137- Current accounts 3,044 229,134 232,178 9,321 161,974 171,295- Time deposits 991 76,879 77,870 18,173 120,669 138,842- Sale of financial instruments with an option to rebuyDue to Head office, branches and affiliates- Current accounts- Time depositsDeposits from customers 3,162,772 16,601,690 19,764,462 3,776,081 12,019,290 15,795,371- Sight deposits 258,151 1,941,883 2,200,034 270,102 1,630,883 1,900,985- Time deposits 635,362 7,773,508 8,408,870 839,982 5,187,864 6,027,846- Savings accounts 2,226,913 4,986,067 7,212,980 2,597,571 4,272,621 6,870,192- Net creditor and cash collateral accounts against debtor accounts 32,411 675,468 707,879 55,716 711,198 766,914- Related parties accounts 9,935 1,224,764 1,234,699 12,710 216,724 229,434Engagements by acceptances 219,135 219,135 146,021 146,021Liabilities 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 financial instrumentsOther liabilities 162,285 138,674 300,959 101,147 100,727 201,874Regularization accounts and other creditor accounts 23,929 60,739 84,668 19,315 42,924 62,239Provisions for risks and charges 34,237 14,412 48,649 24,966 11,721 36,687Subordinated notesShareholders' equity 772,540 1,590,641 2,363,181 705,615 1,570,622 2,276,237-Revaluation variance accepted in the supplementary capital 18,600 18,600 18,600 18,600-Share capital & cash contribution to capital 404,877 174,606 579,483 404,949 112,300 517,249 - Group share 404,162 72,586 476,748 404,162 72,586 476,748 Ordinary shares 32.766.240 Preferred shares 7.650.000 - Minority share 715 102,020 102,735 787 39,714 40,501 -Reserves for general banking risks 32,299 68,835 101,134 34,283 45,444 79,727 - Group share 32,299 68,835 101,134 34,272 45,409 79,681 - Minority share 11 35 46-Reserves and premiums and equity differences 278,920 1,240,717 1,519,637 216,452 1,324,565 1,541,017 - Group share 276,446 1,242,057 1,518,503 214,616 1,323,780 1,538,396 - Minority share 2,474 (1,340) 1,134 1,836 785 2,621-Employees' stock option plan as per IFRS 2 2,536 24,116 26,652-Less: Treasury GDR's (225) (1,801) (2,026) (597) (5,870) (6,467)-Profit carried forward 15,886 39,394 55,280 6,064 10,073 16,137 - Group share 15,845 37,990 53,835 6,022 10,151 16,173 - Minority share 41 1,404 1,445 42 (78) (36)-Net income for the year - Group share - Minority share-Cumulative changes in fair value 19,647 44,774 64,421 25,864 84,110 109,974Revaluation variance of fixed assetsIncome and expense accounts 118,320 19,342 137,662 112,383 17,021 129,404Total Liabilities & Shareholders' Equity 4,278,118 19,109,416 23,387,534 4,794,696 14,344,117 19,138,813 Off-Balance Sheet ItemsFinancing commitments given to: 331,656 331,656 196,050 196,050- Financial intermediaries 331,656 331,656 196,050 196,050- CustomersBank guarantees given to: 36,855 970,145 1,007,000 38,798 695,727 734,525- Financial intermediaries 1,187 237,469 238,656 1,437 137,228 138,665- Customers 35,668 732,676 768,344 37,361 558,499 595,860Financial instruments purchased with a buy back optionOther engagementsEngagements on term financial instruments 29,227 29,227Fiduciary Deposits and Assets under management 8,521 4,854,067 4,862,588 15,241 3,978,548 3,993,789Custody accounts 907,841 2,754,399 3,662,240 582,025 2,633,298 3,215,323Forward operations 903,606 903,606 1,143,868 1,143,868-Foreign currencies to deliver 903,606 903,606 1,143,868 1,143,868 Consolidated Income Statement (Un-audited) (LL millions) 30/06/2007 30/06/2006 Interest and similar income 715,803 590,495 Lebanese Treasury bills and other government bills 172,070 131,322 Deposits and similar accounts in banks and financial institutions 317,851 281,535 Deposits in head office, branches and affiliates Bonds and financial instruments with fixed income 22,410 31,994 Loans and advances to customers 186,392 132,748 Loans and advances to related parties 8,596 5,442 Other interest and similar income 8,484 7,454 Interest on leasing contractsInterest and similar charges 469,460 392,785 Deposits and similar accounts from banks and financial institutions 4,012 10,235 Deposits from head office, branches and affiliates Deposits from customers and other creditor accounts 441,326 364,037 Deposits from related parties 8,974 3,958 Cash contribution to capital and subordinated loans Certificates of deposit 8,036 8,177 Bonds and financial instruments with fixed income Other interest and similar charges 7,112 6,378 Interest on leasing contractsNet provisions and recoveries on doubtful loans 1,701 4,695 Provisions for doubtful loans 15,019 13,508 Of which: provision setup related to commercial loans(granted by leasing companies) Recoveries of provisions for doubtful loans (13,318) (8,813) Of which: provision write-back related to commercial loans(granted by leasing companies) Of which: provision write-back related to leasing contracts Provision related to leasing contractsNet interest received 244,642 193,015Revenues from shares, securities & financial assets with variable income 7,581 7,639Net commissions 73,083 55,287 Commissions received 88,741 70,065 Of which: commission related to leasing contracts Commissions paid (15,658) (14,778) Of which: commission related to leasing contractsProfit on financial operations 47,487 62,306 Profit on marketable securities 4,064 28,236 Profit on financial fixed assets 3,360 Profit on foreign exchange position 10,121 13,145 Profit on financial instruments 29,942 20,925Loss on financial operations 10,169 15,007 Loss on marketable securities 1,243 4,152 Loss on financial fixed assets 1 Loss on foreign exchange position 1,322 6,663 Loss on financial instruments 7,603 4,192Net income from financial operations 37,318 47,299Other operating income 14,695 8,360Other operating expenses 3,825 2,731Total operating income 373,494 308,869General and administrative expenses 196,663 140,469 Salaries wages and related charges 106,266 80,680 Employees' stock options expense as per IFRS 2 8,725 General operating expenses 81,672 59,789Amortization and depreciation 17,611 17,755Provisions on investments 3,262 2,335Provisions on contingent accounts & other risks 389 (108)Profit from operations before taxation 162,871 152,872Net nonrecurring operations 1,945 (1,995) Nonrecurring income 4,144 631 Nonrecurring expenses (2,199) (2,626)Income tax 27,754 21,949Our part in affiliates under equity method 600 476 Non financial institutions 600 476 Financial institutionsNet profit for the period 137,662 129,404 Group share 135,429 132,681 Minority share 2,233 (3,277) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BQAD.L