Bank Audi Egypt: Deposits Fell By EGP 720 Mln In H1

Bank Audi Egypt said the value of customers’ deposits declined by EGP 720 million, registering EGP 14.9 billion at the end of the first half of 2012, down from EGP 15.6 billion at the end of 2011. Bank Audi’s portfolio of loans and credit facilities registered EGP 8.717 billion at the end of June 2012, compared to EGP 7.882 billion, with an increase of EGP 834.8 billion.

The bank’s investments in treasury bills and government bonds reached EGP 3.379 billion at the end of the first half of 2012, down from EGP 4.639 billion at the end of the last year.

The value of the bank’s balances held by the Central Bank of Egypt (CBE) registered EGP 863.5 million at the end of June 2012, down from EGP 1.031 billion at the end of 2011. The value of the bank’s balances held by other banks reached EGP 1.852 billion at the end of last June, compared to EGP 2.831 at the end of 2011.

Bank Audi Egypt achieved net profit of EGP 102.8 million at the end of June 2012, up from EGP 44.354 million at the end of June 2011, with an increase of EGP 58.5 million.