Bank Audi’s Loan and Credit Facilities Portfolio Posts EGP 7.8 bln In 2011

Bank Audi’s loan and credit facilities portfolio grew by 10.9% or EGP 771.9 million registering EGP 7.882 billion at the end of 2011, compared with EGP 7.110 billion in 2010.

Bank Audi’s market share rose by 1.6% in 2011 because of acquiring 2% of the total volume of loans provided by banks. In addition, syndicated loans represented 20.6% of the Bank’s credit portfolio as they reached EGP 1.626 billion.

Bank Audi’s financial results showed a 14.4% increase in value EGP 1.981 billion in deposits portfolio registering EGP 15.697 billion, compared with EGP 13.715 billion in 2010, meaning that the lender acquires 7% of the total increase in deposits with banks.

The Bank’s investments in treasury bills and governmental securities reached EGP 4.639 billion with an increase of 146%, compared with EGP 1.880 billion in 2010.

Bank Audi’s net profit rose 24.7% as it reached EGP 128 million, compared with EGP 170 million in 2010, in which the banks used as provisions as a precautionary measure  against any emergency that may happen  amid the current economic instability Egypt is witnessing since last year’s popular uprising that ousted Hosni Mubarak.