Bank Audi published its unaudited financial results for the first nine months of 2022 reporting a net loss of $811.23 million compared to a loss of $107.33 million in the same period in 2021. In details, net interest income fell by 2.71% y-o-y in the first nine months of 2022 to $778.38 million with the bank also reporting a net commission & fee loss of $36.23 million compared to an income of $3.62 million in the first nine months of 2022. The bank registered a net loss on financial instruments & other operating income of $1,134.44 million (of which some $1,139.26 million from net trading losses mainly stemming from losses on exchange of foreign currencies amounting to $1,198.50 million). On the other hand, the bank booked some $174.94 million in provision write backs on financial assets compared to some $7.44 million in net impairment losses in the first nine months of 2021. Consequently, Bank Audi registered a net operating loss of $217.35 million as at end of September 2022. Operating expenses, on the other hand, increased by 62.06% annually to $567.84 million with personnel expenses rising by 37.01% to $281.94 million and other operating expenses hiking by 138.72% to $258.07 million. On the balance sheet front, the bank’s consolidated assets contracted by 8.15% in the first nine months of 2022 to around $24.67 billion mainly owing to the 13.55% drop in the net loans portfolio to $4.10 billion and the 8.68% decrease in cash & balances with Central Banks to $11.46 billion. Bank Audi’s financial assets at FVTPL soared by 29.68% during the first nine months of 2022 to $138.53 million while those booked at fair value through other comprehensive income dropped by 22.54% to $598.57 million and debt instruments held at amortized cost decreased by 6.15% (mainly owing to some $561 million reduction in the Lebanese treasury bills portfolio which was partly offset by a $344 million increase in other sovereigns’ treasury bills portfolio) to $4.54 billion. Customer deposits at Bank Audi sustained their downturn, dropping by 4.33% in the first nine months of 2022 to $19.23 billion. Consequently, the bank’s ratio of net loans to customer deposits ended September 2022 down at 21.32% from 23.59% at end of year 2021. Bank Audi’s shareholders’ equity contracted by 35.47% by end of September 2022 to $1.61 billion. The bank reported a total capital adequacy ratio (calculated according to Basel III standards) and a common equity tier 1 ratio of 9.44% and 5.12% on a respective basis by end of September in comparison with 14.52% and 10.04% as at end of year 2021.