23rd Jul 2015 16:00
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 |
Related Shares:
BQAD.L