29th Apr 2009 17:00
Bank Audi s.a.l. - Audi Saradar Group
Consolidated Unaudited Results for the 1st three months of 2009
Total assets of US$ 20.7 billion;
Customer deposits of US$ 17.6 billion;
Shareholders' equity of US$ 2.0 billion;
Net profits of US$ 61.0 million in the first quarter of 2009.
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Bank Audi s.a.l. - Audi Saradar Group |
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Consolidated Balance Sheet (Unaudited) |
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(LL million) |
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Assets |
31/03/2009 |
31/12/2008 |
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Cash and balances with Central Banks |
4,430,006 |
4,440,913 |
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Due from banks & financial institutions |
5,267,196 |
5,460,553 |
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Due from head office, sister, related banks and financial institutions |
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Financial assets given as collateral and reverse repurchase agreements |
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|
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Derivative financial instruments |
35,003 |
48,442 |
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Financial assets held for trading |
341,873 |
21,142 |
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Financial assets designated at fair value through profit & loss |
312,333 |
324,105 |
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Net loans & advances to customers * |
8,835,655 |
8,982,761 |
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Net loans & advances to related parties |
254,055 |
256,876 |
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Debtors by acceptances |
217,431 |
234,396 |
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Available for sale financial instruments |
3,863,275 |
3,807,478 |
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Financial assets classified as loans and receivables |
6,279,509 |
5,910,767 |
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- Credit risk ceded |
1,095,203 |
1,176,632 |
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- Net Exposure |
5,184,306 |
4,734,135 |
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Held to maturity financial instruments |
242,928 |
259,918 |
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Investments in associates |
32,084 |
33,124 |
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Investment properties |
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Property & equipment |
522,326 |
479,888 |
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Intangible fixed assets |
17,625 |
18,937 |
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Non current assets held for sale |
30,010 |
38,534 |
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Deferred taxes assets |
10,148 |
10,852 |
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Other assets |
305,751 |
230,231 |
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Goodwill |
212,605 |
209,675 |
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Total Assets |
31,209,813 |
30,768,592 |
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* After deduction of provisions amounting to LL (million) 196,827 from loans and advances to customers as per IAS 39, of which LL (million) 15,606 representing provisions on collective assessment. |
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Bank Audi s.a.l. - Audi Saradar Group |
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Consolidated Balance Sheet (Unaudited) |
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(LL million) |
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Liabilities & Shareholders' Equity |
31/03/2009 |
31/12/2008 |
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Due to Central Banks |
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Due to banks & financial institutions |
551,955 |
699,150 |
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Due to head office, sister, related banks and financial institutions |
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Financial assets taken as collateral & repurchase agreement |
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Derivative financial instruments |
16,815 |
46,588 |
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Financial liabilities held for trading |
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Financial liabilities designated at fair value through profit & loss |
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Customers deposits |
26,340,970 |
25,736,656 |
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Deposits from related parties |
245,069 |
237,030 |
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Debt issued & other borrowed funds |
157,143 |
153,148 |
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Engagements by acceptances |
217,431 |
234,396 |
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Current tax liabilities |
75,214 |
71,780 |
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Deferred tax liabilities |
4,888 |
2,479 |
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Other liabilities |
568,238 |
570,483 |
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Liabilities related to non-current assets held for sale |
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Provisions for risks & charges |
17,005 |
22,426 |
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End of service benefits |
31,586 |
30,644 |
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Subordinated loans & similar debts |
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Total Liabilities |
28,226,314 |
27,804,780 |
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Shareholders' Equity - Group Share |
2,858,338 |
2,832,673 |
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Capital - Common shares |
376,083 |
376,083 |
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Capital - Preferred shares |
57,750 |
57,750 |
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Issue premium - Common shares |
1,072,643 |
1,072,643 |
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Issue premium - Preferred shares |
281,438 |
281,438 |
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Cash contribution to capital |
72,586 |
72,586 |
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Capital reserves |
482,973 |
500,179 |
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Treasury shares |
(56,673) |
(58,091) |
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Retained earnings |
384,510 |
50,516 |
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Revaluation reserve of real estate |
18,600 |
18,600 |
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Reserve on revaluation of financial Instruments |
94,143 |
99,077 |
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Reserve for cash flow hedges |
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1,258 |
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Foreign currency translation reserve |
(15,355) |
6,809 |
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Other reserves |
1,458 |
2,277 |
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Result of the year |
88,182 |
351,548 |
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Minority Interest |
125,161 |
131,139 |
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Profit & Loss Accounts |
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Total Shareholders' Equity |
2,983,499 |
2,963,812 |
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Total Liabilities & Shareholders' Equity |
31,209,813 |
30,768,592 |
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Bank Audi s.a.l. - Audi Saradar Group |
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Consolidated Off Balance Sheet (Unaudited) |
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(LL million) |
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OFF Balance Sheet |
31/03/2009 |
31/12/2008 |
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Financing Commitments |
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- Financing commitments given to banks & financial institutions |
461,540 |
565,196 |
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- Financing commitments received from banks & financial institutions |
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- Engagement to customers |
558,694 |
589,427 |
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Bank guarantees : |
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- Guarantees given to banks & financial institutions |
410,904 |
253,331 |
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of which: credit derivatives |
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- Guarantees received from banks & financial institutions |
442,306 |
299,274 |
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of which: credit derivatives |
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- Guarantees given to customers |
1,507,421 |
1,342,842 |
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- Guarantees received from customers |
3,886,239 |
4,077,579 |
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Financial Notes Commitments |
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- Financial notes commitments to be received |
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of which: financial instruments sold with a buy back option |
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- Financial notes commitments to be delivered |
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of which: financial instruments purchased with a buy back option |
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Foreign Currencies Forwards |
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- Foreign currencies to receive |
1,378,149 |
1,222,074 |
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- Foreign currencies to deliver |
1,376,858 |
1,237,529 |
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Commitments on term financial instruments |
83,227 |
104,102 |
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Other commitments |
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Claims from legal cases |
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Fiduciary assets |
2,514,732 |
2,743,542 |
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Assets under management |
7,018,645 |
7,061,327 |
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Mutual funds |
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Structured financial products |
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Engagements unlikely to be executed |
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Bad debts fully provided for |
307,050 |
313,125 |
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Bank Audi s.a.l. - Audi Saradar Group |
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(LL million) |
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Consolidated Income Statement (Unaudited) |
Period ended 31/03/2009 |
Period ended 31/03/2008 |
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Interest & similar income |
427,546 |
414,743 |
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Interest & similar expenses |
(283,184) |
(274,037) |
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Net Interest Income |
144,362 |
140,706 |
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Fees & commissions income |
58,588 |
54,248 |
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Fees & commissions expenses |
(10,716) |
(9,509) |
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Net Fees & Commissions Income |
47,872 |
44,739 |
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Net trading income/loss |
15,465 |
32,438 |
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Net gain or loss on financial assets or liabilities designated at fair value through profit & loss |
(315) |
(2,266) |
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Net gain or loss on financial investments |
13,767 |
3,589 |
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Other operating Income |
22,236 |
13,314 |
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Total Operating Income |
243,387 |
232,520 |
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Net provisions for credit losses |
(6,966) |
(4,386) |
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Provision on impairement of financial instruments |
(459) |
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Net Operating income |
235,962 |
228,134 |
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Personnel expenses |
(69,561) |
(70,233) |
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Depreciation of property & equipment |
(7,948) |
(7,399) |
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Amortization of intangible assets |
(1,814) |
(1,229) |
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Goodwill Impairement |
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Other operating expenses |
(49,481) |
(48,581) |
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Total Operating Expenses |
(128,804) |
(127,442) |
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Operating Profits |
107,158 |
100,692 |
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Share of profits of associates under equity method |
209 |
498 |
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Net gain (loss) on sale or disposal of other assets |
317 |
(851) |
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Profits Before Tax |
107,684 |
100,339 |
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Income tax |
(15,791) |
(17,966) |
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Profits After Tax from Operating Activities |
91,893 |
82,373 |
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Result of discontinued operations |
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Net Profits |
91,893 |
82,373 |
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Minority Interest |
3,711 |
4,449 |
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Net Profits - Group share |
88,182 |
77,924 |
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Basic earnings per share LL |
2,514 |
2,159 |
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Diluted earnings per share LL |
2,466 |
2,041 |
Related Shares:
BQAD.L