Financials

Financials

(expressed in millions of LBP )

12/31/2018 12/31/2017
ASSETS    
Cash and balances with Central Banks 270,778 303,721
Due from banks and financial institutions 27,287 14,178
Due from head office, sister, and subsidiary companies 1,585,236 1,630,943
Loans to banks and financial institutions and reverse repurchase agreements - -
Financial assets given as collateral - -
Derivative financial instruments 1,140 555
Financial assets at fair value through profit and loss 1,694 3,696
Debt instruments and other similar financial assets at fair value through profit and loss - -
Of which: Net advances and loans at fair value through profit and loss - -
Net loans and advances to customers at amortized cost (1) 175,916 218,345
Net loans and advances to related parties at amortized cost (2) 5,243 4,891
Debtors by acceptances - -
Financial assets at amortized cost (3) 63,353 63,869
Financial assets at fair value through other comprehensive income 378 43,780
Investments in subsidiaries and associates - 6,345
Non current assets held for sale 3,534 3,534
Property and equipment 1,254 1,111
Intangible assets 1,579 1,162
Other assets 15,102 16,476
Goodwill - -
Total Assets 2,152,494 2,312,606
       
LIABILITIES    
Due to Central Banks - -
Due to banks and financial institutions and repurchase agreement 1,160 1,758
Due to head office, sister, related banks and financial institutions 43,385 42,644
Financial assets taken as a guarantee - -
Derivative financial instruments 725 193
Financial liabilities at fair value through profit and loss - -
Of which: deposits at fair value through profit and loss - -
Customers' deposits at amortised cost 1,833,668 1,998,192
Deposits from related parties at amortized cost 15,150 17,459
Debt issued and other borrowed funds - -
Engagements by acceptances - -
Other liabilities 27,757 32,574
Provisions for risks and charges 7,461 7,640
Subordinated loans and similar debts - -
Non current liabilities held for sale - -
Total Liabilities 1,929,306 2,100,460
Shareholders' Equity - Group Share
Capital - Common shares 40,000
40,000
Capital - Preferred shares - -
Issue premium - Common shares - -
Issue premium - Preferred shares - -
Subsidiary shares warrants - -
Share Capital and Cash contribution to capital - -
Non distributable reserves 139,788 127,050
Distributable reserves 37 36
Treasury shares - -
Retained earnings (26,570) 2,830
Proposed dividends - -
Revaluation reserve of real estate - -
Reserve on revaluation of financial assets at fair value through other comprehensive income 259 (27,642)
Remeasurement actuarial (gain)/Loss on defined benefit plan (1,631) (1,246)
Share of associates' other comprehensive income under equity method - -
Foreign currency translation reserve - -
Net (loss) gain on hedge of net investments in foreign entities - -
Result of the current Period 71,305 71,118
Shareholders' Equity - Group Share 223,188 212,146
Non Controlling Interest - -
Total Shareholder's Equity - -
Total Liabilities and Equity 2,152,494 2,312,606


(1) After deduction of provisions amounting to LBP 1,304 million from loans and advances to customers as per IFRS 9, of which LBP 606 million representing provisions on collective assessment.

(2) Loans granted to related parties against cash collateral amounted to LBP 5.243 million.

(3) Includes an amount of LBP (million) 63.353 representing Lebanese Eurobonds
(expressed in millions of LBP )

  12/31/2018 12/31/2017
Financing commitments - -
Financing commitments given to banks and financial institutions -
-
Financing commitments given to customers 58,519 55,647
Bank guarantees - -
Guarantees given to to banks and financial institutions 516 516
Of which: credit derivatives - -
Guarantees received from banks and financial institutions - -
Of which: credit derivatives - -
Guarantees given to customers 6,303 6,283
Guarantees received from customers 368,964 482,993
Financial notes commitments - -
Financial notes commitments to be received - -
Of which: financial instruments sold with a buy back option - -
Financial notes commitments to be delivered - -
Of which: financial instruments purchased with a buy back option - -
Foreign currencies forwards - -
Foreign currencies to receive 366,818 40,142
Foreign currencies to deliver 366,619 39,996
Commitments on term financial instruments 13,193 9,568
Other Commitments 152 199
Claims from legal cases - -
Fiduciary accounts 1,250,950 1,387,200
Under specific instructions 1,250,950 1,387,200
Under discretionary investments - -
Assets under management 2,194,011 2,415,236
Mutual funds - -
Structured financial products - -
Engagement unlikely to be executed - -
Bad debts written off during the year 247 545
(expressed in millions of LBP )

  12/31/2018 12/31/2017
Interest & similar income 128,971 100,633
Interest & similar expense (75,313) (51,240
Net Interest margin 53,658 49,393
Fee & commission income 27,751 32,076
Fee & commission expense (2,908) (1,554)
Net Fee & Commission Income 24,843 30,522
Net gain on financial assets or liabilities at fair value through profit and loss 1,325 1,647
Of which: Interest income - -
Net gain on financial investments 33,088 30,630
Other operating Income 4,999 1,561
Total operating income 117,914 113,753
Net provisions for credit losses 478 2,165
Credit losses related to debt instruments classified at amortized cost - -
Provisions for doubtful accounts - -
Recoveries of provisions for doubtful accounts 472 1,541
Impairement on related financial investments - -
Net Operating income 118,392 115,918
Personnel expenses (23,162) (22,704)
Other operating expenses (9,402) (9,151)
Depreciation of property & equipment (473) (438)
Amortization of intangible assets (539) (519)
Impairment of goodwill - -
Total Operating Expenses (33,576) (32,811)
Operating Profit 84,815 83,106
Share of profit of associates under equity method - -
Net gain (loss) on sale or disposal of other asset - -
Profits Before Tax 84,815 83,106
Income tax  (13,510) (11,988)
Profits After Tax 71,305 71,118
Result of discontinued operations, net of tax - -
Profit for the current period 71,305 71,118
Minority Share Profit for the current period - -
Group Share Profit for the current period - -
Basic earnings per share LBP - -
Diluted earnings per share LBP - -
Basic earnings per share from continuing operations LBP - -
Diluted earnings per share from continuing operations LBP - -
© 2016 Bank Audi Group. All rights reserved