Audi: EGP 35 Million Net Profits For 2012, Q1

Bank Audi Egypt recorded a raise in net profit for the first quarter of this year with 172% that is equivalent to EGP 22.6 million, up to EGP 35.882 million by the end of last March, compared to EGP 13.185 million for the same period of last year.

Audi’s financial statements for the period ending at March 31, 2012 showed that loans and facilities granted to customers increased by 7.8%, equivalent to EGP 612.3 million, up to EGP 8.494 billion compared to EGP 7.882 billion by the end of December 2011.

On the other side, Customer deposits’ portfolio decreased by 11.6% which is equivalent to EGP 1.825 billion, to record EGP 13.871 billion compared with EGP 15.697 billion for the same period of last year, as the bank’s investment in treasuries & government securities declined by 52 % to EGP 2.414 billion by the end of March 2012.