Bank Audi published its unaudited results for the first quarter of 2025 reporting a net profit of LBP 0.03 billion compared to LBP 1.39 billion a year earlier as the bank continues its policy of allocating profits to provisions for risk and charges. In details, net interest income contracted by 11.15% y-o-y to reach LBP 4,564.82 billion in Q1-2025 while net commission & fee income remained almost flat at LBP 2,459.35 billion. The bank’s net gains on financial instruments & other operating income stood at LBP 4,223.80 billion (of which some LBP 4,210.62 billion stem from trading gains) in Q1-2025, down by 28.88% y-o-y when compared to the LBP 5,938.88 billion figure reported in Q1-2024. In addition, the bank booked some LBP 1.37 billion in net recoveries on financial assets compared to impairments of LBP 171.54 billion a year earlier. Consequently, Bank Audi’s net operating income contracted by 15.83% year-on-year to reach LBP 11,249.34 billion during the first quarter of 2025. Concurrently, operating expenses dropped by 18.30% year-on-year to reach LBP 10,916.08 billion in Q1-2025, with personnel expenses increasing by 19.96% to reach LBP 2,257.58 billion, outweighed by the 25.28% contraction in other operating expenses to LBP 8,432.81 billion. In this context, the bank commented that it continues to redefine its business model in Lebanon by shifting towards a cost effective digital platform mainly for individual customers while consolidating the branch network to better serve high-net-worth and corporate clients. On the balance sheet front, the bank’s consolidated assets contracted by 12.08% in Q1-2025 to LBP 1,311.30 trillion, with net loans & advances contracting by 1.19% to LBP 85.13 trillion and customer deposits increasing by 0.34% to attain LBP 1,115.00 trillion. Consequently, the bank’s ratio of net loans to customer deposits ended the first quarter of year 2025 down at 7.64% from 7.75% at end of year 2024. Bank Audi’s shareholders’ equity contracted by 1.58% quarter-on-quarter to LBP 84.10 trillion at end of March 2025, of which LBP 48.22 trillion were derived from foreign currency translation reserves. Finally, the bank mentioned that it completed the sale of its Turkish subsidiary to U.A.E.-based ADQ on March 26, 2025.