1st Aug 2006 11:25
Bank Audi SAL- Audi Saradar Group01 August 2006 Bank Audi SAL - Audi Saradar Group Consolidated Balance Sheet as at June 30, 2006 (Unaudited) (LL millions)ASSETS 30/06/2006 30/06/2005 LL C/V LL TOTAL LL C/V LL TOTAL Cash and Central Banks 2,633,301 2,866,891 5,500,192 2,648,821 2,554,283 5,203,104Lebanese Treasury bills and other 1,367,942 1,920,397 3,288,339 881,243 1,499,102 2,380,345government billsBonds and financial instruments with fixed 1,402,242 1,402,242 635,200 635,200incomeShares, securities and financial assets 10,304 234,241 244,545 11,322 120,214 131,536with variable incomeBanks and financial institutions 46,790 3,428,815 3,475,605 38,066 2,817,389 2,855,455- Current accounts 4,966 852,158 857,124 13,783 709,541 723,324- Time deposits 41,824 2,576,657 2,618,481 24,283 2,107,848 2,132,131- Purchase of financial instruments with anoption to resellDue from Head office, branches andaffiliates- Current accounts- Time depositsLoans and advances to customers 259,790 3,993,103 4,252,893 276,420 3,360,984 3,637,404- Commercial loans* 107,311 3,349,622 3,456,933 150,263 2,726,787 2,877,050- Other loans to customers* 109,340 436,993 546,333 84,824 423,768 508,592- Overdraft accounts 3,056 17,557 20,613 3,280 27,043 30,323- Net debtor accounts against creditor and 468 468cash collateral accounts- Advances to related parties (o.w.cash 46,501 139,074 185,575 40,570 100,899 141,469collateral of LL 93.86 billion as at Juneend 2006)- Doubtful loans** 6,418- 49,389 42,971 2,517- 82,487 79,970Bank acceptances 146,021 146,021 112,983 112,983Investments and related loans 1 48,280 48,281 1 12,195 12,196Investments and related loans under equity 4,251 4,006 8,257 3,602 801 4,403method-Non financial institutions 4,251 4,006 8,257 3,602 801 4,403- Financial institutionsTangible fixed assets (including 290,788 113,546 404,334 293,250 80,295 373,545revaluation variance approved by theCentral Bank)Intangible fixed assets 6,565 81,428 87,993 6,711 2,568 9,279Other assets 1,338 2,471 3,809 805 1,036 1,841Regularization accounts and other debtor 38,483 85,047 123,530 38,245 61,813 100,058accountsRevaluation variance on other fixed assetsGoodwill 33,838 118,934 152,772 33,838 65,710 99,548 TOTAL ASSETS** 4,693,391 14,445,422 19,138,813 4,232,324 11,324,573 15,556,897 *Out of which sub-standard loans amounting 39,188 53,024to :** After deduction of provision for 145,037 103,769doubtful loansand unrealised interest:*For sub-standard loans 7,216 11,533**For doubtful loans 62,132 59,363 Off-Balance Sheet ItemsFinancing commitments receivedSignature commitments received 22,901 58,610 81,511 26,892 79,908 106,800Financial instruments sold with a buy backoptionEngagements on term financial instruments- Option on forex swap- Option on interest swapOther engagements received 300,956 1,954,312 2,255,268 414,659 1,864,034 2,278,693Fiduciary assets and Assets under 7,428 3,986,361 3,993,789 7,008 3,564,453 3,571,461managementCustody accounts 582,025 2,633,298 3,215,323 466,740 1,728,522 2,195,262Forward operations: 1,147,206 1,147,206 1,436,925 1,436,925-Foreign currencies to receive 1,147,206 1,147,206 1,436,925 1,436,925Bad debts transferred to off balance sheet 25,401 236,640 262,041 23,639 232,721 256,360items (LL millions)LIABILITIES 30/06/2006 30/06/2005 LL C/V LL TOTAL LL C/V LL TOTAL Central Bank 27,695 27,695 57,946 1,185 59,131Banks and financial institutions 27,494 282,643 310,137 129,278 506,930 636,208- Current accounts 9,321 161,974 171,295 3,343 305,478 308,821- Time deposits 18,173 120,669 138,842 125,935 201,452 327,387- Sale of financial instruments with anoption to rebuy Due to Head office, branches and affiliates- Current accounts- Time depositsDeposits from customers 3,776,081 12,019,290 15,795,371 3,337,427 9,913,753 13,251,180- Sight deposits 270,102 1,630,883 1,900,985 250,803 1,356,484 1,607,287- Time deposits 839,982 5,187,864 6,027,846 864,580 3,470,714 4,335,294- Savings accounts 2,597,571 4,272,621 6,870,192 2,166,926 4,209,265 6,376,191- Net creditor and cash collateral accounts 55,716 711,198 766,914 47,625 794,383 842,008against debtor accounts- Related parties accounts 12,710 216,724 229,434 7,493 82,907 90,400Engagements by acceptances 146,021 146,021 112,983 112,983Liabilities 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 financialinstrumentsOther liabilities 101,147 100,727 201,874 63,270 86,219 149,489Regularization accounts and other creditor 19,315 42,924 62,239 89,547 24,165 113,712accountsProvisions for risks and charges 24,966 11,721 36,687 21,659 10,478 32,137Subordinated notesShareholders' equity 705,615 1,570,622 2,276,237 504,950 477,070 982,020-Revaluation variance accepted in the 18,600 18,600 18,600 18,600supplementary capital-Share capital 404,949 112,300 517,249 292,467 73,009 365,476 - Group share 404,162 72,586 476,748 291,662 72,586 364,248 Ordinary shares 32.766.240 Preferred shares 7.650.000 - Minority share 787 39,714 40,501 805 423 1,228-Reserves for general banking risks 34,283 45,444 79,727 28,920 36,084 65,004 - Group share 34,272 45,409 79,681 28,910 36,056 64,966 - Minority share 11 35 46 10 28 38-Reserves and premiums and equity 216,452 1,324,565 1,541,017 159,459 336,891 496,350differences - Group share 214,616 1,323,780 1,538,396 158,290 336,826 495,116 - Minority share 1,836 785 2,621 1,169 65 1,234-Less: Treasury GDR's 597- 5,870- 6,467- 311- 349- 660--Profit carried forward 6,064 10,073 16,137 16- 3,448 3,432 - Group share 6,022 10,151 16,173 24- 3,475 3,451 - Minority share 42 78- 36- 8 27- 19--Net income for the year - Group share - Minority share-Cumulative changes in fair value 25,864 84,110 109,974 5,831 27,987 33,818Revaluation variance of fixed assetsIncome and expense accounts 112,383 17,021 129,404 66,589 300 66,889Total Liabilities & Shareholders' Equity 4,794,696 14,344,117 19,138,813 4,270,666 11,286,231 15,556,897 Off-Balance Sheet ItemsFinancing commitments given to: 196,050 196,050 184,607 184,607- Financial intermediaries 196,050 196,050 184,607 184,607- CustomersBank guarantees given to: 38,798 695,727 734,525 36,527 469,982 506,509- Financial intermediaries 1,437 137,228 138,665 1,793 39,836 41,629- Customers 37,361 558,499 595,860 34,734 430,146 464,880Financial instruments purchased with a buyback optionOther engagementsEngagements on term financial instruments 29,227 29,227 61,227 61,227Fiduciary Deposits and Assets under 15,241 3,978,548 3,993,789 19,263 3,552,198 3,571,461managementCustody accounts 582,025 2,633,298 3,215,323 466,740 1,728,522 2,195,262Forward operations 1,143,868 1,143,868 1,426,984 1,426,984-Foreign currencies to deliver 1,143,868 1,143,868 1,426,984 1,426,984 Consolidated Income Statement (Unaudited) 30/06/2006 30/06/2005 Interest and similar income 590,495 464,720 Lebanese Treasury bills and other government bills 131,322 99,402 Deposits and similar accounts in banks and financial institutions 281,535 223,466 Deposits in head office, branches and affiliates Bonds and financial instruments with fixed income 31,994 22,110 Loans and advances to customers 132,748 106,503 Loans and advances to related parties 5,442 5,670 Other interest and similar income 7,454 7,569 Interest on leasing contracts Interest and similar charges 392,785 321,299 Deposits and similar accounts from banks and financial 10,235 25,217 institutions Deposits from head office, branches and affiliates Deposits from customers and other creditor accounts 364,037 283,238 Deposits from related parties 3,958 2,418 Cash contribution to capital and subordinated loans 3 Certificates of deposit 8,177 8,036 Bonds and financial instruments with fixed income 10 Other interest and similar charges 6,378 2,377 Interest on leasing contracts Net provisions and recoveries on doubtful loans 4,695 23,792 Provisions for doubtful loans 13,508 30,241 Of which: provision setup related to commercial loans (granted by leasing companies) Recoveries of provisions for doubtful loans 8,813- 6,449- 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 contracts Net interest received 193,015 119,629 Revenues from shares, securities & financial assets with variable income 7,639 2,772 Net commissions 55,287 46,276 Commissions received 70,065 53,105 Of which: commission related to leasing contracts Commissions paid 14,778- 6,829- Of which: commission related to leasing contracts Profit on financial operations 62,306 47,650 Profit on marketable securities 28,236 3,928 Profit on financial fixed assets 3,444 Profit on foreign exchange position 13,145 10,636 Profit on financial instruments 20,925 29,642 Loss on financial operations 15,007 5,388 Loss on marketable securities 4,152 926 Loss on financial fixed assets Loss on foreign exchange position 6,663 803 Loss on financial instruments 4,192 3,659 Net income from financial operations 47,299 42,262 Other operating income 8,360 7,868 Other operating expenses 2,731 2,641 Total operating income 308,869 216,166 General and administrative expenses 140,469 128,489 Salaries wages and related charges 80,680 76,414 General operating expenses 59,789 52,075 Amortization and depreciation 17,755 14,051 Provision on investments 2,335 2,908 Provisions on contingent accounts & other risks 108- 505 Profit from operations before taxation 152,872 77,039Net nonrecurring operations 1,995- 273- Nonrecurring income 631 5,461 Nonrecurring expenses 2,626- 5,734-Income tax 21,949 9,950Our part in affiliates under equity method 476 73 Non financial institutions 476 73 Financial institutionsNet profit for the period 129,404 66,889 Group share 132,681 66,662 Minority 3,277- 227 share This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BQAD.L