Banque Audi
While its rivals in Lebanon floundered last year, award winner Banque Audi had one of its best years ever, expanding its domestic market share, arranging several big financing deals and increasing its profits.
The bank finished 2002 with an increase of almost 20% in net profit and a ROE of 12.84%. It posted gains in assets and Tier 1 capital, while its cost-to-income ratio fell slightly to 67.7%.
One of the main reasons for the fine performance was a 9.3% increase in domestic deposits – the main driver of banking activity in Lebanon – bringing the bank’s total share of this market to 28%. Banque Audi also commands an enviable position in the card market (a 38% share), bancassurance (35%), personal loans (15%) and commercial loans (10.5%).
In capital markets, moreover, the bank is the undisputed leader, trading $3bn worth of Lebanese Treasury bills and eurobonds each year. In 2002, Banque Audi also became the first Lebanese bank to issue preferred shares.
“The award is a recognition of our commitment towards high speed and quality services to our clientele, to whom we wish to offer a real one-stop shop covering all their financial needs. Offering to our customer base the largest range of products and services resting on most developed infrastructures and processes is at the core of our strategy,” said Raymond Audi, Banque Audi chairman.
