Bank Audi net profits up by19%.Summary: Bank Audi, which is the largest bank in Lebanon and which ranks among the first 25 Arab banking Arab Banking Corporation was incorporated as a Bahrain joint stock company on January 17, 1980 through a special decree by the Amir of Bahrain. It obtained an offshore banking unit licence from the Bahrain Monetary Agency on April 7, 1980, and began operations in the same month. groups reported that in 2008 net profits after taxes grew by 19.1% relative to 2007, to reach US$ 238.5 million Bank Audi, which is the largest bank in Lebanon and which ranks among the first 25 Arab banking groups reported that in 2008 net profits after taxes grew by 19.1% relative to 2007, to reach US$ 238.5 million after the allocation The apportionment or designation of an item for a specific purpose or to a particular place. In the law of trusts, the allocation of cash dividends earned by a stock that makes up the principal of a trust for a beneficiary usually means that the dividends will be treated as of provisions on assets including loan portfolio, which underlines the high quality of earnings. In the fourth quarter of 2008, net profits reached US$ 58 million as compared to US$ 50 million in the third quarter. The annual growth in deposits reached US$ 3 billion in 2008 while the contribution of foreign entities reached 28% of total assets and 22% of profits in 2008. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the bank, total shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. amounts to US$ 1.9 billion, the equivalent of 28% of the consolidated shareholders' equity in the Lebanese banking sector. Net non-performing loans A non-performing loan is a loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months, but this can depend on the contract terms. account for less than half a percentage point and records 0.37% of gross loans. Gross non-performing loans are covered to the extent of 88% by loan loss provisions, which exceeds 100% when accounting for guarantees. 2009 Mena Report (www.menareport.com) 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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