Bank Audi sal : Financial Statements in USD (233 KB)

2021

Consolidated Activity

Highlights(1)

IN US DOLLARS

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.

USD 28.0	USD 20.8	USD 5.3	USD 2.7
billion of	billion of net	billion of
billion of total
customers'	loans to	shareholders'
assets
deposits	customers	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 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
USD Thousands	USD Thousands

ASSETS

Cash and balances with central banks	12,308,208	12,926,176
Due from banks and financial institutions	1,965,236	1,438,115
Loans to banks and financial institutions and reverse repurchase agreements	112,366	175,288
Derivative financial instruments	111,531	145,154
Shares and participations at fair value through profit or loss	31,786	36,078
Debt instruments and other similar financial assets at fair value through profit or loss	164,522	224,000
Of which: loans and advances at fair value through profit or loss	-	4,726
Shares and participations at fair value through other comprehensive income	41,189	43,592
Debt instruments and other similar financial assets at fair value through other comprehensive income	958,955	963,621
Loans and advances to customers at amortised cost	5,211,172	6,064,578
Loans and advances to related parties at amortised cost(1)	52,049	71,774
Debtors by acceptances	17,800	11,869
Debt instruments classified at amortised cost(2)	5,115,406	5,165,833
Investments in associates	54,891	75,571
Property and equipment and right-of-use assets	392,158	421,843
Intangible assets	46,392	53,785
Assets taken in settlement of debts	103,268	134,766
Assets held for sale	-	6,297,278
Other assets	1,248,285	1,153,630
Goodwill	28,131	28,115
TOTAL ASSETS
27,963,345	35,431,066

1. Loans granted to related parties against cash collateral amounted to USD 4 million.
2. Includes an amount of USD 103 million with risk ceded to customers.

	30/9/2021	31/12/2020
	USD Thousands	USD Thousands
OFF-BALANCE SHEET
Financing commitments
Financing commitments given to banks and financial institutions	198,624	133,900
Financing commitments given to customers	2,263,723	1,410,811
Bank guarantees
Guarantees given to banks and financial institutions	106,161	16,419
Guarantees received from banks and financial institutions	47,261	81,778
Guarantees given to customers	734,121	708,411
Guarantees received from customers	14,279,475	16,031,139
Foreign currencies forwards
Foreign currencies to receive	3,298,670	3,326,375
Foreign currencies to deliver	3,260,913	3,391,138
Commitments on term financial instruments	3,797,982	4,145,134
Fiduciary accounts	952,753	1,146,540
Under specific instructions	949,476	1,141,335
Under discretionary investments	3,277	5,205
Assets under management	7,977,599	7,579,621
Mutual funds	31,514	25,536
Bad debts written off during the year	4,344	341,030

	30/9/2021	31/12/2020
	USD Thousands	USD Thousands
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Due to central banks	2,417,816	2,669,524
Due to banks and financial institutions and repurchase agreements	562,498	1,007,743
Derivative financial instruments	189,365	296,380
Customers' deposits	20,730,778	21,420,030
Deposits from related parties	110,984	108,139
Debt issued and other borrowed funds	12,531	76,675
Engagements by acceptances	17,800	11,869
Other liabilities	249,656	352,251
Provisions for risks and charges	131,099	99,900
Subordinated loans and similar debts	808,515	797,496
Liabilities related to assets held for sale	-	5,640,200
TOTAL LIABILITIES	25,231,042	32,480,207
Shareholders' equity - Group share
Share capital - common shares	651,979	651,979
Share capital - preferred shares	6,647	6,647
Issue premium - common shares	598,534	598,534
Issue premium - preferred shares	593,353	593,353
Share capital and cash contribution to capital	48,150	48,150
Non-distributable reserves	1,240,277	1,465,778
Distributable reserves	327,267	11,456
Treasury shares	(6,096)	(6,096)
Retained earnings	(70,582)	509,114
Revaluation reserve of real estate	173,798	223,588
Other components of equity	(12,349)	(7,868)
Foreign currency translation reserve	(799,633)	(715,525)
Other components of equity related to assets held for sale	-	(389,968)
Result of the period	(111,428)	(149,351)
Shareholders' equity - Group share	2,639,917	2,839,791
Non-controlling interests	92,386	111,068
TOTAL SHAREHOLDERS' EQUITY	2,732,303	2,950,859
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	27,963,345	35,431,066

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 USD

Basic and diluted loss per share from continuing operations USD

HEADQUARTERS

BANK AUDI sal

Bank Audi Plaza, Bab Idriss P.O.Box: 11-2560 Beirut - LEBANON

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

30/9/2021	30/9/2020
USD Thousands	USD Thousands
1,370,863	1,738,201
(112,563)	(141,375)
1,258,300	1,596,826
(458,202)	(964,969)
800,098	631,857
123,104	108,312
(119,481)	(423,525)
3,623	(315,213)
(617,043)	84,435
2,512	1,491
(5,947)	21,055
22,198	9,315
202,929	431,449
(7,442)	(109,996)
195,487	321,453
(205,788)	(202,852)
(107,594)	(113,845)
(26,628)	(32,834)
(9,865)	(10,874)
(349,875)	(360,405)
(154,388)	(38,952)
-	(302)
(809)	80
(155,197)	(39,174)
(4,440)	(31,645)
(159,637)	(70,819)
52,309	70,819
(107,328)	-
4,100	3,624
(111,428)	(3,624)
(0.19)	-
(0.28)	(0.14)

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

• BANK AUDI sal - ABU DHABI REP. OFFICE Phone: [phone] Fax: [phone] - [e-mail] - bankaudipb.com

FACTORING

• Solifac sal

Phone: [phone] Fax: [phone]