Bank Audi Saradar
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History and Milestones
Bank Audi’s strategy revolves around strengthening its domestic franchise and enhancing its cross-border activity in high-value added-markets. From a Lebanese commercial bank in the late nineties, the Bank was transformed into a Lebanese universal bank by the mid of the current decade and is today a universal bank offering a full range of commercial and corporate banking, retail banking, private banking and Treasury and capital markets activities, in addition to insurance activities. Over and above its historic presence in Lebanon and Europe (France and Switzerland), the Group is now present in Syria, Jordan, Egypt, Sudan, Saudi Arabia, Qatar, UAE and lately in Turkey. The largest Bank in Lebanon, the major financial highlights of Bank Audi for the year 2012 are 31.3 billion dollars in total assets, 26.8 billion dollars in customers’ deposits, 384 million dollars of consolidated net profits and 2.7 billion dollars of shareholders’ equity.
The Bank owns 99.9% of the issued share capital of Bank Audi Saradar France. Bank Audi Saradar France was established on May 7, 1979, under the name “Banque Audi (France) S.A.”, as a French joint stock company with the objective of performing general banking operations, including operations and undertakings relating to commercial banking, real estate, merchant banking and investment banking. Bank Audi Saradar France changed its name from Banque Audi (France) S.A. to its current name on 21 February 2005 following its merger with Banque Saradar France S.A.
Bank Audi Saradar France is principally a commercial bank, taking deposits mainly from non-French residents and lending to Middle-Eastern entrepreneurs. In accordance with its policy to maintain a high liquidity ratio at all times, the majority of loans extended by Bank Audi Saradar France are short-term with the exception of R.E. lending in Europe and for trade finance purposes, often in the form of letters of credit and letters of guarantee. Its current business development plan aims at further consolidating commercial and trade finance activities. Looking forward, the Bank aims at expanding corporate banking towards European corporates subcontracting in the Middle East, keeping its traditional trade franchise with Near Eastern customers including accompanying them in French-speaking Africa and developing wealth management services for high net worth individuals from the MENA region.
The registered office of Bank Audi Saradar France is at 73, Champs Elysees Ave., 75008 Paris, France.