STATEMENT OF THE CHAIRMAN AND THE CHIEF EXECUTIVE OFFICER

The year 2013 was another good year for Bank Audi at both business and performance levels whereby the results fairly reflect the set strategic orientations. They underscore the Group’s leaner organisation and its capacity to seize opportunities for the development of activities and expansion in new better rated countries, ensuring added value to all stakeholders within its customers’ and shareholders’ base at large.

Late 2012, after the outbreak of the “Arab Spring” and the ensuing challenging environment in key markets of presence, the Group strategy was re-adjusted, channelling the development over the coming five years around the following drivers:

  • Consolidating and strengthening its leadership in Lebanon (the home market)
  • Strengthening the market background and positioning in Egypt
  • Securing over the medium term an established positioning in the Turkish market, building a franchise ranking second to Lebanon in terms of size and earnings
  • Leveraging cooperation and synergies across the Private Banking entities in Europe, the Levant and the GCC.
2013 marked the beginning of the implementation phase of the transformation strategy, centering on sustained quality growth supported by an effective capital placement and pursuing greater operational efficiency. Consolidated assets increased year-on-year by USD 4.9 billion (15.6%), reaching at end-December 2013 USD 36.2 billion, of which 42.6% in subsidiaries outside Lebanon (USD 15.4 billion). In parallel, assets under management (fiduciary deposits, security accounts and assets under management) increased by USD 841 million in 2013, translating in a total of assets and assets under management of USD 45.5 billion at end-December 2013, of which more than 33% is built in investment grade countries, a level unparalleled among the Lebanese banking groups at large.

FINANCIAL HIGHLIGHTS

01Corporate Governance

Human Growth

Motion implies growth, and human beings never stop growing. At each stage of personal growth, Bank Audi’s innovations accompany us every step of the way.
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02Management
Discussion and Analysis

Business Expansion

As the human body works, so does a business: many parts unite to move one being forward. Bank Audi’s partnerships with all kinds of businesses create more chances for success.
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03Financial Statements

Evolving Technology

Technology’s ultimate purpose is to serve the progression of society. Bank Audi’s investments in the most innovative new technologies aim to drive society forward.
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04Group Structure

A Transforming World

As the world embraces transformation, we must adapt and transform with it. As the world evolves, so does Bank Audi in order to provide every individual with the chance to grow.
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05Management

Acting for the Environment

Our society is constantly evolving and one shouldn’t ignore its effect on the environment. As an active player in the community, Bank Audi is proud to partake in the collective effort towards responsible and sustainable acts.
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06Addresses

Striving for the Best

Motion accurately translates into the expansion of our horizons and the drive to be the best we possibly can. By simplifying daily tasks and providing practical solutions, Bank Audi allows us to focus on the essentials and always improve our performance.
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