We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Lebanon’s Bank Audi 2010 net up 22 percent

Loans up $1.8 bln to $8.5 bln.


January 21, 2011 10:27 by

Lebanon’s Bank Audi  said on Thursday its 2010 net profit increased by 22 percent in 2010 to $352 million as its loans and deposits grew.

The bank said total assets increased 8.3 percent to $28.7 billion at the end of 2010.

The bank said consolidated deposits grew by $1.9 billion in 2010 to $24.8 billion.

“(This is) a very favourable performance, given that the increase in Bank Audi’s customer deposits represented close to 2.7 percent of the increase in total deposits of banks in the MENA (Middle East and North Africa) region,” the bank said in a statement.

It said net loans grew by $1.8 billion in 2010, reaching $8.5 billion.

Strict central bank regulations allowed Lebanese banks to escape the brunt of the global financial crisis two years ago, prompting expatriates to transfer funds to Lebanon at an above-average rate last year.

On Wednesday, Ratings agency Standard & Poor’s revised its outlook on three banks including Audi. It said it had revised the outlook of Bank Audi, BankMed and Blom Bank  to stable from positive after it downgraded the outlook on Lebanon’s B credit rating to stable from positive on Tuesday, saying the prospects of economic reforms had been damaged by the government’s collapse.

Shi’ite militant group Hezbollah and its allies resigned last week, bringing down the government of Prime Minister Saad al-Hariri in a dispute over the U.N.-backed tribunal investigating the 2005 killing of his father, Rafik.

(Reporting by Mariam Karouny; Editing by Will Waterman)


Tags: , , , ,

Leave a Comment