Bank Audi Group
Founded in 1830, the Bank was incorporated in its present form in 1962 as a private joint stock company with limited liability (société anonyme libanaise) with a duration of 99 years. The Bank is registered on the Beirut Commercial Registry under number 11347 and on the Lebanese List of Banks under number 56.
The initial shareholders of the Bank were members of the Audi family, together with certain Kuwaiti investors. Since 1983, the shareholder base has expanded and currently is comprised of more than 1,500 holders of Common Shares and Global Depositary Receipts (representing Common Shares). The Global Depositary Receipts evidencing the Common Shares are listed on both the Beirut Stock Exchange and the London Stock Exchange and the Bank’s Common Shares are listed on the Beirut Stock Exchange.
The Bank’s head office and registered address is Bank Audi Plaza, Omar Daouk Street, Bab Idriss, Beirut 2021 8102, P.O. Box: 11-2560, Beirut, Lebanon.
The Bank is a regional Bank. It operates principally in Lebanon, the MENA region and, Turkey, offering a full range of products and services that principally cover commercial and corporate banking, retail and personal banking and private banking, as well as ancillary activities such as Capital Market activities and factoring. As at end-December 2018, the Bank ranked first among Lebanese banks in terms of total assets (LL 71,192 billion), shareholders’ equity (LL 5,856 billion), customers’ deposits (LL 48,178 billion), loans and advances (LL 19,996 billion) and net profits in 2018 (LL 755 billion). In addition to its historic presence in Lebanon, Switzerland and France, the Group currently operates in Jordan, Egypt, Saudi Arabia, Qatar, Abu Dhabi (through a representative office), Monaco, Turkey and Iraq.
As at end-December 2018, the Bank had one of the largest branch networks in Lebanon, with 86 branches (82 operating) covering the Greater Beirut area and other strategic regions in Lebanon, as well as, through its foreign subsidiaries, a network of 113 branches in the MENAT region (outside of Lebanon), including 14 branches in Jordan, 46 in Egypt and 45 branches in Turkey. The Bank has two subsidiaries in Lebanon, two subsidiaries in Europe, as well as an asset management company in Monaco, four subsidiaries in the MENA region outside Lebanon and a subsidiary in Turkey.
Since 2005, the Bank has undertaken significant regional expansion and has the fourth largest coverage among the top 15 Arab banking institutions in the MENA region with operations in 10 countries, excluding Lebanon, through a network of branches and subsidiaries developed mainly through green-field operations. As a result of this regional expansion, an increasing percentage of the Bank’s assets are contributed by its operations outside Lebanon. Management intends to continue to seek growth opportunities both in Lebanon and abroad over the medium term.
As at end-December 2018, the Bank and its consolidated subsidiaries had 6,306 employees, including 3,147 persons employed in Lebanon, 1,088 persons employed at Odea Bank in Turkey and 1,456 persons employed at Bank Audi Egypt.See more