30th Jul 2009 17:00
Bank Audi s.a.l. - Audi Saradar Group
Activity highlights at end-June 2009
US$ 132.9 million net profits for the first half of 2009
US$ 2 billion of additional customer deposits in the first half of 2009
53.9% primary liquidity to customer deposits ratio
US$ 22.4 billion total assets as at 30/6/2009
US$ 19.2 billion customer deposit base as at 30/6/2009
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Bank Audi s.a.l. - Audi Saradar Group
|
Consolidated Balance Sheet (Unaudited) |
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|
|
|
(LL million) |
|
Assets |
30/06/2009 |
31/12/2008 |
|
Cash and balances with Central Banks |
5,230,318 |
4,440,913 |
|
Due from banks & financial institutions |
5,651,575 |
5,460,553 |
|
Due from head office, sister,related banks and financial institutions |
|
|
|
Financial assets given as collateral and reverse repurchase agreements |
|
|
|
Derivative financial instruments |
46,153 |
48,442 |
|
Financial assets held for trading |
494,431 |
21,142 |
|
Financial assets designated at fair value through profit & loss |
231,123 |
324,105 |
|
Net loans & advances to customers * |
9,286,026 |
8,982,761 |
|
Net loans & advances to related parties |
268,792 |
256,876 |
|
Debtors by acceptances |
228,759 |
234,396 |
|
Available for sale financial instruments** |
4,032,436 |
3,809,668 |
|
Financial assets classified as loans and receivables*** |
6,895,122 |
5,910,767 |
|
- Credit risk ceded |
1,070,827 |
1,176,632 |
|
- Net Exposure |
5,824,295 |
4,734,135 |
|
Held to maturity financial instruments** |
373,562 |
259,918 |
|
Investments in associates |
33,166 |
33,124 |
|
Investment properties |
|
|
|
Property & equipment |
519,569 |
479,888 |
|
Intangible fixed assets |
28,454 |
18,937 |
|
Non current assets held for sale |
30,092 |
38,534 |
|
Deferred taxes assets |
5,554 |
10,852 |
|
Other assets |
238,712 |
228,041 |
|
Goodwill |
218,529 |
209,675 |
|
Total Assets |
33,812,373 |
30,768,592 |
|
* After deduction of provisions amounting to LL (million) 215,243 from loans and advances to customers as per IAS 39, of which |
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LL (million) 14,052 representing provisions on collective assessment . |
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** Includes an amount of LL (billion) 2,747 representing Lebanese Treasury Bills |
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*** Includes an amount of LL (billion) 3,396 representing Certificates of Deposits |
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Bank Audi s.a.l. - Audi Saradar Group
|
Consolidated Balance Sheet (Unaudited) |
||
|
|
(LL million) |
|
|
Liabilities |
30/06/2009 |
31/12/2008 |
|
Due to Central Banks |
133,315 |
|
|
Due to banks & financial institutions |
615,623 |
699,150 |
|
Due to head office, sister, related banks and financial institutions |
|
|
|
Financial assets taken as collateral & repurchase agreement |
|
|
|
Derivative financial instruments |
47,755 |
46,589 |
|
Financial liabilities held for trading |
|
|
|
Financial liabilities designated at fair value through profit & loss |
|
|
|
Customers deposits |
28,692,554 |
25,736,656 |
|
Deposits from related parties |
287,055 |
237,030 |
|
Debt issued & other borrowed funds |
153,148 |
153,148 |
|
Engagements by acceptances |
228,759 |
234,396 |
|
Current tax liabilities |
41,796 |
71,780 |
|
Deferred tax liabilities |
2,239 |
2,479 |
|
Other liabilities |
675,490 |
570,483 |
|
Liabilities related to non-current assets held for sale |
|
|
|
Provisions for risks & charges |
20,337 |
22,426 |
|
End of service benefits |
32,597 |
30,644 |
|
Subordinated loans & similar debts |
|
|
|
Total Liabilities |
30,930,668 |
27,804,781 |
|
Shareholders' Equity - Group Share |
2,752,125 |
2,832,672 |
|
Capital - Common shares |
418,820 |
376,083 |
|
Capital - Preferred shares |
15,313 |
57,750 |
|
Issue premium - Common shares |
886,457 |
1,017,929 |
|
Issue premium - Preferred shares |
138,687 |
281,438 |
|
Merger premium |
36,006 |
36,006 |
|
Cash contribution to capital |
72,586 |
72,586 |
|
Capital reserves |
778,978 |
518,886 |
|
Treasury shares |
(57,590) |
(58,091) |
|
Retained earnings |
93,945 |
50,516 |
|
Revaluation reserve of real estate |
18,600 |
18,600 |
|
Reserve on revaluation of financial Instruments |
155,265 |
98,755 |
|
Reserve for cash flow hedges |
|
1,258 |
|
Foreign currency translation reserve |
(1,256) |
7,131 |
|
Other reserves |
3,684 |
2,277 |
|
Result of the year |
192,630 |
351,548 |
|
Minority Interest |
129,580 |
131,139 |
|
Profit & Loss Accounts |
|
|
|
Total Shareholders' Equity |
2,881,705 |
2,963,811 |
|
Total Liabilities & Shareholders' Equity |
33,812,373 |
30,768,592 |
Bank Audi s.a.l. - Audi Saradar Group
|
Consolidated Off Balance Sheet (Unaudited) |
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|
|
(LL million) |
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|
OFF Balance Sheet |
30/06/2009 |
31/12/2008 |
|
Financing Commitments |
|
|
|
- Financing commitments given to banks & financial institutions |
754,702 |
565,196 |
|
- Financing commitments received from banks & financial institutions |
|
|
|
- Engagement to customers |
620,162 |
589,427 |
|
Bank guarantees : |
|
|
|
- Guarantees given to banks & financial institutions |
296,479 |
253,331 |
|
of which: credit derivatives |
|
|
|
- Guarantees received from banks & financial institutions |
456,102 |
299,274 |
|
of which: credit derivatives |
|
|
|
- Guarantees given to customers |
1,768,756 |
1,342,842 |
|
- Guarantees received from customers |
4,694,599 |
4,077,579 |
|
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 |
1,259,910 |
1,222,074 |
|
- Foreign currencies to deliver |
1,273,964 |
1,237,529 |
|
Engagements on term financial instruments |
48,374 |
104,102 |
|
Other commitments |
|
|
|
Claims from legal cases |
|
|
|
Fiduciary assets |
2,166,827 |
2,743,542 |
|
Assets under management |
7,792,020 |
7,061,327 |
|
Mutual funds |
|
|
|
Structured financial products |
|
|
|
Engagements unlikely to be executed |
|
|
|
Bad debts fully provided for |
311,181 |
313,125 |
Bank Audi s.a.l. - Audi Saradar Group
|
(LL million) |
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|
Consolidated Income statement (Unaudited) |
30/06/2009 |
30/06/2008 |
|
Interest & similar income |
881,992 |
824,938 |
|
Interest & similar expenses |
(575,184) |
(522,667) |
|
Net Interest Income |
306,808 |
302,271 |
|
Fees & commissions income |
122,692 |
128,174 |
|
Fees & commissions expenses |
(20,252) |
(19,111) |
|
Net Fees & Commissions Income |
102,440 |
109,063 |
|
Net trading income/loss |
44,252 |
75,854 |
|
Net gain or loss on financial assets or liabilities designated at fair value through profit & loss |
9,077 |
325 |
|
Net gain or loss on financial investments |
25,727 |
11,197 |
|
Other operating Income |
38,905 |
38,419 |
|
Total Operating Income |
527,209 |
537,129 |
|
Net provisions for credit losses |
(24,605) |
(18,330) |
|
Provisions for doubtful loans |
(31,082) |
(26,332) |
|
Recoveries of provisions for doubtful loans |
6,477 |
8,002 |
|
Provision on impairement of financial instruments |
30 |
(754) |
|
Net Operating income |
502,634 |
518,045 |
|
Personnel expenses |
(142,989) |
(152,556) |
|
Depreciation of property & equipment |
(17,542) |
(15,290) |
|
Amortization of intangible assets |
(2,945) |
(2,122) |
|
Goodwill Impairement |
|
|
|
Other operating expenses |
(95,733) |
(110,368) |
|
Total Operating Expenses |
(259,209) |
(280,336) |
|
Operating Profits |
243,425 |
237,709 |
|
Share of profits of associates under equity method |
301 |
481 |
|
Net gain (loss) on sale or disposal of other assets |
641 |
|
|
Profits Before Tax |
244,367 |
238,190 |
|
Income tax |
(43,965) |
(41,467) |
|
Profits After Tax from Operating Activities |
200,402 |
196,723 |
|
Result of discontinued operations |
|
|
|
Net Profits |
200,402 |
196,723 |
|
Minority Interest |
7,772 |
10,215 |
|
Net Profits - Group share |
192,630 |
186,508 |
|
Basic earnings per share LL |
5,525 |
5,256 |
|
Diluted earnings per share LL |
5,408 |
4,959 |
Related Shares:
BQAD.L