2021
Consolidated Activity
Highlights(1)
IN LEBANESE POUNDS
AT END-SEPTEMBER 2021
- Persisting excessive uncertainties arising from a lasting financial crisis since 2019, preventing Management to estimate in a true and fair manner, and as per IFRS, the adverse impact of those matters on the Bank's financial position and equity, which it anticipates to be material.
- A number of measures have been taken to reinforce the Bank's financial standing, of which most importantly the capital increase completed in 2020 and the sale of the operations outside Lebanon in Jordan, Iraq and Egypt. As a result, the Bank is in compliance with the regulatory requirement to increase its shareholders' equity by 20%, as requested by the Central Bank of Lebanon.
- 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.
LBP 42,155 | LBP 31,419 | LBP 7,934 | LBP 4,119 |
billion of | billion of net | billion of | |
billion of | |||
customers' | loans to | shareholders' | |
total assets | |||
deposits | customers | 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 2020 Annual Report and to the Interim Report as at end-September 2021).
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED)
30/9/2021 | 31/12/2020 |
LBP Million | LBP Million |
ASSETS
Cash and balances with central banks | 18,554,624 | 19,486,210 |
Due from banks and financial institutions | 2,962,594 | 2,167,959 |
Loans to banks and financial institutions and reverse repurchase agreements | 169,392 | 264,246 |
Derivative financial instruments | 168,133 | 218,820 |
Shares and participations at fair value through profit or loss | 47,917 | 54,388 |
Debt instruments and other similar financial assets at fair value through profit or loss | 248,017 | 337,679 |
Of which: loans and advances at fair value through profit or loss | - | 7,124 |
Shares and participations at fair value through other comprehensive income | 62,093 | 65,714 |
Debt instruments and other similar financial assets at fair value through other comprehensive income | 1,445,624 | 1,452,659 |
Loans and advances to customers at amortised cost | 7,855,842 | 9,142,352 |
Loans and advances to related parties at amortised cost(1) | 78,464 | 108,200 |
Debtors by acceptances | 26,834 | 17,892 |
Debt instruments classified at amortised cost(2) | 7,711,475 | 7,787,493 |
Investments in associates | 82,748 | 113,923 |
Property and equipment and right-of-use assets | 591,178 | 635,928 |
Intangible assets | 69,936 | 81,081 |
Assets taken in settlement of debts | 155,676 | 203,160 |
Assets held for sale | - | 9,493,147 |
Other assets | 1,881,789 | 1,739,097 |
Goodwill | 42,408 | 42,384 |
TOTAL ASSETS | ||
42,154,744 | 53,412,332 |
- Loans granted to related parties against cash collateral amounted to LBP 6 billion.
- Includes an amount of LBP 155 billion with risk ceded to customers.
30/9/2021 | 31/12/2020 | |||
LBP Million | LBP Million | |||
OFF-BALANCE SHEET | ||||
Financing commitments | ||||
Financing commitments given to banks and financial institutions | 299,425 | 201,855 | ||
Financing commitments given to customers | 3,412,562 | 2,126,797 | ||
Bank guarantees | ||||
Guarantees given to banks and financial institutions | 160,037 | 24,751 | ||
Guarantees received from banks and financial institutions | 71,246 | 123,281 | ||
Guarantees given to customers | 1,106,687 | 1,067,930 | ||
Guarantees received from customers | 21,526,309 | 24,166,942 | ||
Foreign currencies forwards | ||||
Foreign currencies to receive | 4,972,745 | 5,014,511 | ||
Foreign currencies to deliver | 4,915,827 | 5,112,142 | ||
Commitments on term financial instruments | 5,725,458 | 6,248,790 | ||
Fiduciary accounts | 1,436,275 | 1,728,409 | ||
Under specific instructions | 1,431,335 | 1,720,562 | ||
Under discretionary investments | 4,940 | 7,847 | ||
Assets under management | 12,026,231 | 11,426,278 | ||
Mutual funds | 47,507 | 38,495 | ||
Bad debts written off during the year | 6,549 | 514,102 | ||
30/9/2021 | 31/12/2020 | |
LBP Million | LBP Million | |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
LIABILITIES | ||
Due to central banks | 3,644,857 | 4,024,308 |
Due to banks and financial institutions and repurchase agreements | 847,966 | 1,519,173 |
Derivative financial instruments | 285,468 | 446,793 |
Customers' deposits | 31,251,648 | 32,290,695 |
Deposits from related parties | 167,308 | 163,019 |
Debt issued and other borrowed funds | 18,891 | 115,588 |
Engagements by acceptances | 26,834 | 17,892 |
Other liabilities | 376,356 | 531,019 |
Provisions for risks and charges | 197,632 | 150,599 |
Subordinated loans and similar debts | 1,218,837 | 1,202,225 |
Liabilities related to assets held for sale | - | 8,502,601 |
TOTAL LIABILITIES | 38,035,797 | 48,963,912 |
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 | 1,869,717 | 2,209,661 |
Distributable reserves | 493,355 | 17,270 |
Treasury shares | (9,190) | (9,190) |
Retained earnings | (106,403) | 767,489 |
Revaluation reserve of real estate | 262,001 | 337,059 |
Other components of equity | (18,616) | (11,861) |
Foreign currency translation reserve | (1,205,447) | (1,078,654) |
Other components of equity related to assets held for sale | - | (587,877) |
Result of the period | (167,978) | (225,147) |
Shareholders' equity - Group share | 3,979,674 | 4,280,985 |
Non-controlling interests | 139,273 | 167,435 |
TOTAL SHAREHOLDERS' EQUITY | 4,118,947 | 4,448,420 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 42,154,744 | 53,412,332 |
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 income
Fee and commission income
Fee and commission expense
Net fee and commission income (expense)
Net (loss) gain on financial assets at fair value through profit and loss Of which: interest income
Net (loss) gain on financial investments Other operating income
Total operating income
Net 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 loss
Share of profit (loss) of associates under equity method Net (loss) gain on disposal of fixed assets
Loss before tax
Income tax
Loss after tax
Result of discontinued operations, net of tax
Loss for the period
Non-controlling interest Equity holders of the parent Basic and diluted loss per share LBP
Basic and diluted loss per share from continuing operations LBP
30/9/2021 | 30/9/2020 |
LBP Million | LBP Million |
2,066,576 2,620,338
(169,688) (213,123)
1,896,888 2,407,215
(690,740) (1,454,691)
1,206,148 952,524
185,579 163,281
(180,117) (638,464)
5,462 (475,183)
(930,193) 127,286
3,7872,247
(8,965)31,740
33,46414,043
305,916 650,410
(11,219) (165,819)
294,697 484,591
(310,226) (305,800)
(162,198) (171,622)
(40,141) (49,498)
(14,871) (16,392)
(527,436) (543,312)
(232,739) (58,721)
-
(455)
(1,219)121
(233,958) | (59,055) |
(6,693) | (47,705) |
(240,651) | (106,760) |
78,856 | 106,760 |
(161,795) | - |
6,183 | 5,463 |
(167,978) | (5,463) |
(280) | - |
- (211)
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 |
- BANK AUDI sal - ABU DHABI REP. OFFICE Phone: +971 2 6331180 Fax: +971 2 6336044 - contactus.abu-dhabi@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 18 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2021 14:12:09 UTC.