• Register

Bank Audi reports lower 2013 earnings

: Monday, February 03 - 2014 @ 09:21

Lebanon’s Bank Audi has posted a 16% drop in net profits 2013 to $301m, due to the bank’s expansion into the Turkish market, The Daily Star has reported. Full-year net earnings reached $305m, compared with $361m in 2012 before the exceptional profits related to discontinued operations, the lender said. Earnings then decreased by 15.6%, mainly due to the initial launching stages of the Turkish banking subsidiary, whose network comprises 31 branches with the subsequent normal time lag between immediate operating expenses and expected revenues, Bank Audi added.

Today's Top Stories

Posted by

Monday, February 3- 2014 @ 9:21 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

AME Info Services

Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically


Search for jobs

Latest Jobs