Lebanese Audi Bank posts $9.2 million net income in Q-1 2000
The Lebanese Audi Bank posted a net operating income of $9.2 million in the first quarter of 2000, reported Al-Morakeb Al-Inmai magazine. This figure translates into a 12 percent rise compared with the fourth quarter of 1999. However, compared with the corresponding period of last year, this reflects a 3.8 percent decrease.
Audi Bank has achieved growth of both its assets as well as its customers’ deposits. The figures reveal that between June of 1999 and June of this year, the bank’s assets rose by 11.33 percent, from LL 4.6 billion to LL 5.12 billion. The customers’ deposits grew from LL 3.8 billion to LL 4.2 billion, reflecting an 11.48 percent.
Presently, the Audi Bank (Banque Audi) has the largest on-line real-time branch network in Lebanon, with 61 branches operating in the country and nine additional ones planned to be opened in the near future. The bank has recently signed an Enterprise Agreement with Microsoft to standardize its IT systems. The aim is to implement all of Microsoft technologies, including Windows 2000, Office 2000 and Backoffice 20000 on all its computers and servers. –(Albawaba-MEBG)