Lebanese Bank Audi's profits grow 65% in 2017
(MENAFN) After the sale of Bank Audi"s technology and electronic payment arm to Mikati group, it had boosted net profit by 65.58% to USD308 million in the first half of 2017.
The bank said: "Bank Audi"s consolidated net earnings after provisions and taxes reached $308 million in the first half of 2017, of which $95 million of non-recurrent profits arising from the sale of the Card and Electronic Payment processing and acquiring activities, which the Bank announced in the first quarter 2017."
As Bank Audi is one of the major banks in Lebanon, it stressed that this profit from this acquisition is non-recurrent.
The bank said: "Bank Audi"s consolidated net earnings after provisions and taxes reached $308 million in the first half of 2017, of which $95 million of non-recurrent profits arising from the sale of the Card and Electronic Payment processing and acquiring activities, which the Bank announced in the first quarter 2017."
As Bank Audi is one of the major banks in Lebanon, it stressed that this profit from this acquisition is non-recurrent.
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