Solidere Group's consolidated financial statements report a net profit of $48.97 million in the year 2019, compared to a net loss of $115.69 million in 2018.
The combined net after tax profits of Lebanese banks’ Syrian subsidiaries rose by SYP 4.55 billion year-on-year to just below SYP 6.95 billion ($13.50 million) in 2019, up from SYP 4.61 billion ($8.94 million) in 2018.
Tne net after tax profits of Bank Audi S.A.E. contracted by 18.91% y-o-y to EGP 264.33 million ($16.79 million) in the first quarter of 2020, down from EGP 325.97 million ($18.80 million) during that same period in 2019.
Bank Audi’s fully-owned Turkish subsidiary “Odeabank A.Ş.” saw a seven fold annual increase in net after tax profits to around $4.84 million during the first quarter of 2020, up from around $0.72 million in the same quarter in 2019. <p class="MsoBodyText" style="text-align: justify; text-justify: inter-ideograph; line-height: 14.0pt;"><span style="font-size: 9.0pt; font-family: 'Verdana',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Verdana;" lang="X-NONE">Bank Audi’s fully-owned Turkish subsidiary “Odeabank A.Ş.”</span><span style="font-size: 9.0pt; font-family: 'Verdana',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Verdana; mso-ansi-language: EN-US;"> saw a </span><span style="font-size: 9.0pt; font-family: 'Verdana',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Verdana;" lang="X-NONE">seven fold annual increase in net after tax profits to around $4.84 million during the first quarter of 2020, up from around $0.72 million in the same quarter </span><span style="font-size: 9.0pt; font-family: 'Verdana',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Verdana; mso-ansi-language: EN-US;">in 2019.</span></p>
