Audi Bank posts 1.020 bn pounds net profit in 2017

Lebanon’s lender Audi Bank posted a 48 percent rise in 2017 net profit to 1.020 billion Egyptian pounds from the previous year’s 735 million pounds, its  managing director Mohamed Abbas Fayed said.

He added that the bank’s profits represent 10.5 percent of the total profits of Bank Audi Saradar in Lebanon where it recorded $559 million of which Egypt share hase posted $58 million.

Fayed further noted that the bank has achieved return on asset of 1.9 percent, while, it posted return on equity of 21 percent by the end of last year.