BANK AUDI SAL 2023
Consolidated
Financial Highlights(1)
IN LEBANESE POUNDS
AT END-MARCH 2023
- The continued absence of the required reform pack to address the impact of the financial crisis prevailing since the year 2019, of which the ratification of the resolution program and the adoption of the restructuring plan, is translating into a perpetuation of the high levels of uncertainties, preventing banks to estimate in a reasonable manner the impact of the Crisis on their financial position, which we anticipate to be quite material.
- In February 2023, the Central Bank of Lebanon adjusted the official exchange rate from LBP 1,507.5 to LBP 15,000 to the US Dollar.
- Meanwhile, the Bank is continuing to implement measures aiming at reinforcing the Bank's financial standing, in accordance with laws and regulations.
- Generation of an operating surplus that was fully allocated to cover one-off losses tied to the Crisis, within an adopted policy of allocation of all recurrent profits to provisions and to cover exceptional losses until the dissipation of uncertainties.
- Re-buildingan activity of external accounts, paving the way for the revival of Traditional Banking operations.
LBP 277,648 | LBP 234,476 | LBP 43,561 | LBP 20,524 |
billion of | billion of | billion of | |
billion of | |||
customers' | net loans | shareholders' | |
total assets | |||
deposits | equity | ||
- Disclaimer: the figures below were published to comply with regulatory publishing requirements for listed banks operating in Lebanon. They should not be relied upon for decision-making, and they should be read in conjunction with the full set of financial statements and related disclosures as published on the Bank's website (please refer to the 2022 Annual Report and to the Interim Report as at end-March 2023).
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED)
31/3/2023 | 31/12/2022 |
LBP Million | LBP Million |
ASSETS
Cash and balances with central banks | 128,953,349 | 14,304,554 |
Due from banks and financial institutions | 25,754,862 | 3,016,766 |
Loans to banks and financial institutions and reverse repurchase agreements | 2,549,847 | 216,397 |
Derivative financial instruments | 585,383 | 119,143 |
Shares and participations at fair value through profit or loss | 401,034 | 39,805 |
Debt instruments and other similar financial assets at fair value through profit or loss | 2,012,898 | 216,940 |
Shares and participations at fair value through other comprehensive income | 1,152,428 | 132,255 |
Debt instruments and other similar financial assets at fair value through other comprehensive income | 8,314,508 | 899,586 |
Loans and advances to customers at amortised cost | 42,963,767 | 5,871,120 |
Loans and advances to related parties at amortised cost(1) | 597,173 | 64,475 |
Debtors by acceptances | 70,683 | 7,055 |
Debt instruments classified at amortised cost(2) | 50,665,498 | 7,055,456 |
Investments in associates | 183,993 | 14,359 |
Property and equipment and right-of-use assets | 8,460,011 | 7,646,768 |
Intangible assets | 241,450 | 60,777 |
Assets taken in settlement of debts | 695,293 | 163,400 |
Other assets | 3,623,280 | 719,653 |
Goodwill | 422,220 | 42,442 |
TOTAL ASSETS | 277,647,677 | 40,590,951 |
- Loans granted to related parties against cash collateral amounted to LBP 15 billion.
- Includes an amount of LBP 164 billion with risk ceded to customers.
31/3/2023 | 31/12/2022 | |
LBP Million | LBP Million | |
OFF-BALANCE SHEET | ||
Financing commitments | ||
Financing commitments given to banks and financial institutions | 1,906,514 | 193,869 |
Financing commitments given to customers | 20,955,852 | 2,279,907 |
Bank guarantees | ||
Guarantees given to banks and financial institutions | 884,931 | 11,853 |
Guarantees received from banks and financial institutions | 401,784 | 49,139 |
Guarantees given to customers | 8,395,880 | 929,989 |
Guarantees received from customers | 143,229,165 | 15,079,861 |
Foreign currencies forwards | ||
Foreign currencies to receive | 53,419,682 | 2,745,362 |
Foreign currencies to deliver | 14,012,383 | 2,749,714 |
Commitments on term financial instruments | 19,072,780 | 3,347,701 |
Fiduciary accounts | 16,853,232 | 1,687,547 |
Under specific instructions | 16,789,677 | 1,680,252 |
Under discretionary investments | 63,555 | 7,295 |
Assets under management | 104,268,491 | 9,689,118 |
Mutual funds | 420,284 | 40,147 |
Bad debts written off during the year | 63,683 | 28,518 |
31/3/2023 | 31/12/2022 | |
LBP Million | LBP Million | |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
LIABILITIES | ||
Due to central banks | 3,601,289 | 2,733,967 |
Due to banks and financial institutions and repurchase agreements | 5,074,631 | 633,284 |
Derivative financial instruments | 568,727 | 54,560 |
Customers' deposits | 233,378,676 | 29,100,938 |
Deposits from related parties | 1,097,673 | 116,350 |
Debt issued and other borrowed funds | 160,779 | - |
Engagements by acceptances | 70,683 | 7,055 |
Other liabilities | 3,077,814 | 535,114 |
Provisions for risks and charges | 1,918,800 | 530,898 |
Subordinated loans and similar debts | 8,174,976 | 823,443 |
TOTAL LIABILITIES | 257,124,048 | 34,535,609 |
Shareholders' equity - Group share | ||
Share capital - common shares | 982,859 | 982,859 |
Share capital - preferred shares | 10,020 | 10,020 |
Issue premium - common shares | 902,290 | 902,290 |
Issue premium - preferred shares | 894,480 | 894,480 |
Share capital and cash contribution to capital | 72,586 | 72,586 |
Non-distributable reserves | 2,529,597 | 2,529,255 |
Distributable reserves | 35,995 | 35,995 |
Treasury shares | (7,645) | (9,537) |
Retained eaarnings - Accumulated losses | 4,150,635 | (4,193,502) |
Revaluation reserve of real estate | 6,971,848 | 6,971,629 |
Other components of equity | 785,724 | (99,413) |
Foreign currency translation reserves | 1,500,949 | (1,464,160) |
Result of the period | 737,100 | (673,985) |
Shareholders' equity - Group share | 19,566,438 | 5,958,517 |
Non-controlling interests | 957,191 | 96,825 |
TOTAL SHAREHOLDERS' EQUITY | 20,523,629 | 6,055,342 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 277,647,677 | 40,590,951 |
CONSOLIDATED INCOME STATEMENT (UNAUDITED)
Interest and similar income
Less: tax on interest income
Interest and similar income, net of tax
Interest and similar expense
Net interest margin
Fee and commission income Fee and commission expense Net fee and commission Net trading gain
Of which: interest income
Net gain (loss) on financial investments Other operating income
Total operating income Impairment loss on financial assets Net operating income Personnel expenses
Other operating expenses
Depreciation of property and equipment and right-of-use assets Amortisation of intangible assets
Total operating expenses
Operating income
Net gain (loss) on disposal of fixed assets
Profit before tax
Income tax
Profit for the period Non-controlling interest Equity holders of the parent
Basic and diluted earnings per share LBP
Basic and diluted earnings per share from continuing operations LBP
31/3/2023 | 31/3/2022 |
LBP Million | LBP Million |
2,348,436 636,666
(86,677) (45,574)
2,261,759 591,092
(902,940) (188,080)
1,358,819 403,012
442,10687,499
(74,077) (52,544)
368,02934,955
61,74881,106
2,5282,233
78,885(728)
101,0308,155
1,968,511 526,500
(120,740) (153,730)
1,847,771 372,770
(519,094) (124,604)
(379,710) (105,081)
(72,384) (10,150)
(13,840)(4,263)
(985,028) (244,098)
862,743 128,672
-
(195)
862,743 128,477
(88,290)(9,454)
774,453 119,023
37,3532,666
737,100 116,357
1,255 | 198 |
1,255 | 198 |
HEADQUARTERS
BANK AUDI sal
Bank Audi Plaza, Bab Idriss
P.O.Box: 11-2560 Beirut - LEBANON
Phone: +961 1 994000 Fax: +961 1 990555 contactus@bankaudi.com.lb - bankaudigroup.com
FOREIGN PRESENCE
• BANQUE AUDI (SUISSE) SA | Phone: +41 22 704 11 11 Fax: +41 22 704 11 00 - contactus.gva@bankaudipb.com - bankaudipb.com | |
Beirut Representative Office | Phone: +961 1 977 544 Fax: +961 1 980 535 | |
• BANK AUDI FRANCE sa | Phone: +33 1 53 83 50 00 | Fax: +33 1 42 56 09 74 - contactus@bankaudi.fr - bankaudi.fr |
• AUDI CAPITAL (KSA) cjsc | Phone: +966 11 2199300 | Fax: +966 11 4627942 - contactus@audicapital.com - audicapital.com |
• BANK AUDI LLC (Qatar) | Phone: +974 44967365 Fax: +974 44967373 - contactus@bankaudi.com.qa | |
• ODEA BANK A.Ş. | Phone: +90 212 3048444 Fax: +90 212 3048445 - info@odeabank.com.tr - odeabank.com.tr | |
• BAPB HOLDING LIMITED | Phone: +357 22 465151 Fax: +357 22 379379 - p.sednaoui@bankaudipb.com - bankaudipb.com |
FACTORING
• Solifac sal | Phone: +961 1 209200 Fax: +961 1 209205 |
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Disclaimer
Bank Audi SAL published this content on 26 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2023 12:32:05 UTC.
