Bank Audi sal : Financial Statements in LBP (272 KB)

2023

Consolidated

Financial Highlights(1)

IN LEBANESE POUNDS

AT END-JUNE 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 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 269,563	LBP 229,366	LBP 37,205	LBP 16,828
billion of	billion of	billion of
billion of
customers'	net loans	shareholders'
total assets
deposits		equity

1. 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-June 2023).

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED)

30/6/2023	31/12/2022
LBP Million	LBP Million

ASSETS

Cash and balances with central banks	131,777,475	14,304,554
Due from banks and financial institutions	27,849,571	3,016,766
Loans to banks and financial institutions and reverse repurchase agreements	2,241,836	216,397
Derivative financial instruments	425,497	119,143
Shares and participations at fair value through profit or loss	571,529	39,805
Debt instruments and other similar financial assets at fair value through profit or loss	1,885,236	216,940
Shares and participations at fair value through other comprehensive income	1,551,637	132,255
Debt instruments and other similar financial assets at fair value through other comprehensive income	5,881,926	899,586
Loans and advances to customers at amortised cost	36,610,724	5,871,120
Loans and advances to related parties at amortised cost(1)	594,082	64,475
Debtors by acceptances	275,954	7,055
Debt instruments classified at amortised cost(2)	47,253,827	7,055,456
Investments in associates	153,509	14,359
Property and equipment and right-of-use assets	8,349,634	7,646,768
Intangible assets	279,883	60,777
Assets taken in settlement of debts	573,117	163,400
Other assets	2,865,408	719,653
Goodwill	422,204	42,442
TOTAL ASSETS	269,563,049	40,590,951

1. Loans granted to related parties against cash collateral amounted to LBP 15 billion.
2. Includes an amount of LBP 164 billion with risk ceded to customers.

	30/6/2023	31/12/2022
	LBP Million	LBP Million
OFF-BALANCE SHEET
Financing commitments
Financing commitments given to banks and financial institutions	1,488,917	193,869

LIABILITIES AND SHAREHOLDERS' EQUITY

LIABILITIES

Due to central banks

Due to banks and financial institutions and repurchase agreements Derivative financial instruments

Customers' deposits Deposits from related parties Engagements by acceptances Other liabilities

Provisions for risks and charges Subordinated loans and similar debts

TOTAL LIABILITIES

Shareholders' equity - Group share

Share capital - common shares

Share capital - preferred shares

Issue premium - common shares

Issue premium - preferred shares

Share capital and cash contribution to capital

Non-distributable reserves

Distributable reserves

Treasury shares

Retained eaarnings - Accumulated losses

Revaluation reserve of real estate

Other components of equity

Foreign currency translation reserves

Result of the period

Shareholders' equity - Group share

Non-controlling interests

TOTAL SHAREHOLDERS' EQUITY

30/6/2023	31/12/2022
LBP Million	LBP Million

2,607,843 2,733,967

3,365,480633,284

714,67254,560

228,325,010 29,100,938

1,041,177116,350

275,9547,055

6,370,863535,114

1,826,891530,898

8,206,923823,443

252,734,813 34,535,609

982,859982,859

10,02010,020

902,290902,290

894,480894,480

72,58672,586

2,535,234 2,529,255

35,99535,995

(6,945)(9,537)

1,919,927 (4,193,502)

6,971,848 6,971,629

139,317(99,413)

785,414 (1,464,160)

852,055 (673,985)

16,095,080 5,958,517

733,156 96,825

16,828,236 6,055,342

Financing commitments given to customers	17,702,910	2,279,907
Bank guarantees
Guarantees given to banks and financial institutions	803,457	11,853
Guarantees received from banks and financial institutions	418,323	49,139
Guarantees given to customers	7,648,333	929,989
Guarantees received from customers	130,187,113	15,079,861
Foreign currencies forwards
Foreign currencies to receive	24,449,780	2,745,362
Foreign currencies to deliver	24,679,858	2,749,714
Commitments on term financial instruments	13,606,806	3,347,701
Fiduciary accounts	15,317,311	1,687,547
Under specific instructions	15,303,356	1,680,252
Under discretionary investments	13,955	7,295
Assets under management	10,495,312	9,689,118
Mutual funds	393,294	40,147
Bad debts written off during the year	278,043	28,518

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	269,563,049	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 on financial investments

Other operating income

Total operating income

(Impairment loss) recovery 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 profit

Gain from associates under equity method

Net gain (loss) on disposal of fixed assets

Profit before tax

Income tax

Profit after tax

Result of discontinued operations, net of 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

30/6/2023	30/6/2022
LBP Million	LBP Million

5,620,764 1,464,949

(201,505) (165,096)

5,419,259 1,299,853

(2,166,283) (358,073)

3,252,976 941,780

1,239,415175,787

(99,685) (244,304)

1,139,730 (68,517)

393,422158,203

14,9974,657

93,09240,153

298,01312,428

5,177,233 1,084,047

(1,564,607)217,872

3,612,626 1,301,919

(1,211,026) (250,880)

(936,795) (270,056)

(153,768)(19,872)

(35,604)(8,310)

(2,337,193) (549,118)

1,275,433 752,801

12,681-

330(247)

1,288,444 752,554

(275,795)(24,777)

1,012,649	727,777
-	-
1,012,649	727,777
160,594	719,462
852,055	8,315
1,451	1,225
1,451	1,225

HEADQUARTERS

BANK AUDI sal

Bank Audi Plaza, Bab Idriss

P.O.Box: 11-2560 Beirut - LEBANON

Phone: [phone] Fax: [phone] [e-mail] - bankaudigroup.com

FOREIGN PRESENCE

• BANQUE AUDI (SUISSE) SA	Phone: [phone] Fax: [phone] - [e-mail] - bankaudipb.com
Beirut Representative Office	Phone: [phone] Fax: [phone]
• BANK AUDI FRANCE sa	Phone: [phone]	Fax: [phone] - [e-mail] - bankaudi.fr
• AUDI CAPITAL (KSA) cjsc	Phone: [phone]	Fax: [phone] - [e-mail] - audicapital.com
• BANK AUDI LLC (Qatar)	Phone: [phone] Fax: [phone] - [e-mail]
• ODEA BANK A.Ş.	Phone: [phone] Fax: [phone] - [e-mail] - odeabank.com.tr
• BAPB HOLDING LIMITED	Phone: [phone] Fax: [phone] - [e-mail] - bankaudipb.com

FACTORING

• Solifac sal

Phone: [phone] Fax: [phone]