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Bank Audi Profit Rises to 262 Billion Lebanese Pounds

Bank Audi SAL-Audi Saradar Group, the largest lender in Lebanon by assets, said first-half profit after tax rose 12 percent from the year-earlier period.

Net income increased to 261.8 billion Lebanese pounds ($172.9 million) through June, from 233.6 billion pounds a year earlier, the Beirut-based bank said in a statement published by the Regulatory News Service of the London Stock Exchange today.

Total assets reached $29.1 billion and deposits reached $25.3 billion in the first six months of the year.

To contact the reporter on this story: Inal Ersan in Dubai at iersan@bloomberg.net; Massoud A. Derhally in Beirut, Lebanon at mderhally@bloomberg.net

To contact the editor responsible for this story: Louis Meixler at lmeixler@bloomberg.net

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