Unaudited Half Year Results

Consolidated Statement of Financial Position (Unaudited)

Bank Audi sal - Audi Saradar Group 

(LBP million)

Assets

30/6/2013

31/12/2012

Cash and balances with Central Banks

9,704,509

9,462,380

Deposits with banks and financial institutions

2,702,530

4,280,978

Due from head office, sister, related banks and financial institutions

Loans to banks and financial institutions and reverse repurchase agreements

1,671,750

1,060,267

Financial assets given as collateral

Derivative financial instruments

118,476

51,046

Shares and participations at fair value through profit and loss

54,620

52,222

Debt instruments and other similar financial assets at fair value through profit and loss

445,133

458,435

Of which: Net advances and loans at fair value through profit and loss

61,281

75,555

Net loans and advances to customers at amortized cost (1)

19,015,392

15,416,403

Net loans and advances to related parties at amortized cost (2)

144,479

304,511

Debtors by acceptances

207,400

182,715

Debt instruments classified at amortized cost (3)

15,310,092

14,549,116

Shares and participations at fair value through other comprehensive income

262,560

245,793

Investments in associates

39,788

34,230

Assets taken in settlement of debts

13,953

15,113

Property and equipment

514,956

528,710

Intangible fixed assets

60,568

49,600

Non current assets held for sale

34,941

Other assets

320,748

238,163

Goodwill

207,463

222,846

Total Assets

50,794,417

47,187,469

(1) After deduction of provisions amounting to LBP 455,609 million from loans and advances to customers as per IAS 39, of which

LBP 173,247 million representing provisions on collective assessment .

(2) Loans granted to related parties against cash collateral amounted to LBP 86,581 million.

(3) Includes an amount of LBP 1,536 billion with risk ceded to customers.

Consolidated Statement of Financial Position (Unaudited)

Bank Audi sal - Audi Saradar Group 

(LBP million)

Liabilities

30/6/2013

31/12/2012

Due to Central Banks

148,885

133,108

Due to banks and financial institutions and repurchase agreement

1,814,450

1,852,661

Due to head office, sister, related banks and financial institutions

Financial assets taken as a guarantee

Derivative financial instruments

129,170

56,042

Financial liabilities at fair value through profit and loss

Of which: deposits at fair value through profit and loss

Customers' deposits at amortised cost

43,219,230

39,718,890

Deposits from related parties at amortized cost

742,621

689,101

Debt issued and other borrowed funds

Engagements by acceptances

207,400

182,715

Other liabilities

400,876

408,865

Provisions for risks and charges

86,226

95,096

Subordinated loans and similar debts

Non current liabilities held for sale

14,799

Total Liabilities

46,748,858

43,151,277

Shareholders' Equity - Group Share

Share capital - Common shares

454,324

438,586

Share capital - Preferred shares

6,495

19,124

Issue premium - Common shares

659,206

659,206

Issue premium - Preferred shares

747,255

583,876

Cash contribution to capital

72,586

72,586

Legal and statutory reserves

922,490

808,434

Reserves available for distribution

651,335

551,406

Treasury shares

(24,102)

(20,245)

Retained earnings

422,730

328,223

Proposed dividends

Revaluation reserve of real estate

20,375

20,375

Reserve on revaluation of financial assets at fair value through other comprehensive income

109,052

86,805

Reserve on changes in fair value of cash flow hedges

Foreign currency translation reserve

(331,940)

(173,759)

Result of the year

272,860

564,737

Total Shareholders' Equity - Group share

3,982,666

3,939,354

Non controlling interest

62,893

96,838

Total Shareholders' Equity

4,045,559

4,036,192

Total Liabilities and Shareholders' Equity

50,794,417

47,187,469

Consolidated Off Balance Sheet (Unaudited)

Bank Audi sal - Audi Saradar Group 

(LBP million)

OFF Balance Sheet

30/6/2013

31/12/2012

Financing commitments

- Financing commitments given to banks and financial institutions

395,466

353,763

- Financing commitments received from banks and financial institutions

- Engagement to customers

477,476

460,963

Bank guarantees :

- Guarantees given to banks and financial institutions

422,800

390,904

Of which: credit derivatives

829

528

- Guarantees received from banks and financial institutions

397,023

447,939

Of which: credit derivatives

- Guarantees given to customers

2,084,868

1,921,292

- Guarantees received from customers

16,612,024

13,080,056

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

5,384,137

2,775,034

- Foreign currencies to deliver

5,375,581

2,782,774

Engagements on term financial instruments

6,395,753

2,243,844

Other commitments

Claims from legal cases

Fiduciary accounts

1,391,738

1,215,349

under specific instructions

1,370,760

1,128,697

under discretionary investments

20,978

86,652

Assets under management

11,544,335

11,274,636

Mutual funds

282,241

244,763

Structured financial products

Engagements unlikely to be executed

Bad debts written off during the year

7,170

158,427

Bank Audi sal - Audi Saradar Group 

(LBP million)

Consolidated Income statement (unaudited)

30/06/2013

30/06/2012

Interest and similar income

1,272,761

1,080,187

Interest and similar expense

(819,680)

(651,246)

Net Interest Income

453,081

428,941

Fee and commission income

162,889

168,605

Fee and commission expense

(30,492)

(25,793)

Net Fee and Commission Income

132,397

142,812

Net gain on financial assets or liabilities at fair value through profit and loss

112,157

81,125

Of which: interest income

15,253

20,028

Net gain on financial investments

131,549

140,272

Other operating Income

7,018

17,691

Total Operating Income

836,202

810,841

Net provisions for credit losses

(69,958)

(102,372)

Credit losses related to debt instruments classified at amortized cost

Provisions for doubtful loans

(74,528)

(110,723)

Recoveries of provisions for doubtful loans

4,570

8,351

Impairment loss on financial instruments

(355)

Net Operating Income

765,889

708,469

Personnel expenses

(227,676)

(182,858)

Other operating expenses

(152,509)

(137,451)

Depreciation of property and equipment

(25,712)

(21,055)

Amortization of intangible assets

(6,342)

(2,178)

Impairment of goodwill

Total Operating Expenses

(412,239)

(343,542)

Operating Profit

353,650

364,927

Share of profit of associates under equity method

69

581

Net gain on disposal of assets

593

411

Profit Before Tax

354,312

365,919

Income tax

(70,846)

(82,619)

Profit After Tax from Operating Activities

283,466

283,300

Result of discontinued operations, net of tax

62,772

Profit for the Year

283,466

346,072

Non-controlling interest

10,606

3,683

Profit For The Year - Group share

272,860

342,390

Basic earnings per share LL

729.3

939.3

Diluted earnings per share LL

729.3

938.8

Basic earnings per share from continuing operations LL

729.3

759.4

Diluted earnings per share from continuing operations LL

729.3

759.0