Bank Audi

Source: Wikipedia, the free encyclopedia.
Bank Audi S.A.L.
Total assets$35.4 billion (December 2020)
Number of employees
3,931 (December 2020)[1]
Websitewww.bankaudigroup.com www.bankaudi.com.lb

Bank Audi (

Arabic: بنك عودة, previously Bank Audi-Saradar) is a Lebanon-based universal bank and financial services company headquartered in Beirut, offering financial products and services in personal banking, business banking, private banking and Treasury and Capital Markets
segments.

Bank Audi has a network of 109 branches and more than 193

MENA region and in Turkey
. As of September 2023, Bank Audi's private customers’ deposits reached USD 15.2 billion, with shareholders’ equity reaching US$1.2 billion, and consolidated assets totaling US$18 billion.[2]

History

Bank Audi was founded in 1830, but was only incorporated as a bank in 1962.[4][5]

Members of the Audi family, as well as Kuwaiti investors, were the first shareholders. Since 1983, the shareholder base has expanded and currently consists of more than 1,500 holders of Common Shares and Global Depository Receipts.

In 2004, Bank Audi signed a merger agreement with Banque Saradar, entitling Saradar Holding to become one of the largest shareholders of Bank Audi sal-Audi Saradar Group.[6] After six years of managing the Audi Saradar Group Private Banking, both banks de-merged, and Bank Audi continued privately on its own.

On 20 February 2019, Bank Audi announced a new deposit agreement by which

The Bank of New York Mellon is named the successor depositary bank for its global depositary receipt programme, replacing Deutsche Bank Trust Company Americas as Depositary.[7][8]

Operations

Board of directors

Banking services

Retail and personal banking

Personal banking at Bank Audi consists of the services and products offered to the individuals.[10]

Commercial and corporate banking

Business Banking[11] at Bank Audi is the set of services offered to businesses and corporations in Lebanon. It includes corporate banking, commercial banking, and SME banking.

Private banking

Bank Audi Private Bank began its operations in 1976 and has been handling it through two main booking centers based in Switzerland and United Arab Emirates.[12]

Major shareholders

FRH Investment Holding sal holds the greatest shares, followed by Audi family, heirs of Sheikha Suad Hamad Al Saleh Al Homaizi, Sheikh Dhiab Bin Zayed Al Nehayan, Al Sabbah family, and others.[13]

Main subsidiaries

Bank Audi sal subsidiaries include Odea Bank – Turkey, Banque Audi – Switzerland, Audi Private Bank sal, Audi Capital – Kingdom of Saudi Arabia, Bank Audi – Qatar, Bank Audi France sa, SOLIFAC and Audi Investments Holding.[14]

Innovative services

In 2011, Bank Audi introduced NOVO spaces in selected locations to allow live video chat with tellers and to provide an advisory room for expert consultancies.[15]

Bank Audi introduced Interactive Teller Machines by the

NCR Corporation in 2014.[16] Their concept revolve around allowing customers to talk live to a personal teller for transfers, deposits, cashing cheques and making different types of payments.[17]

In 2014, Bank Audi introduced Tap2Pay, the first near-field communication mobile payment service in Lebanon and the Middle East.[18]

Culture

Audi foundation

Founded in 2000 by Raymond Audi, the Audi Foundation aims at preserving the culture, heritage and craftsmanship of Sidon, Lebanon.

In 2018, World Music Day was celebrated by the Audi Foundation with two concerts,[19] and the Swiss World Cup matches[20] were transmitted on the terraces, in an event organized by the Embassy of Switzerland in Lebanon.

Corporate art collection

Bank Audi created a comprehensive corporate art collection, located in three of the bank's buildings. The villa, or historical headquarters situated steps from the

Antiquity. The current headquarters, designed by Kevin Dash in Beirut Central District, houses modern and contemporary art from Europe (Raoul Dufy, Édouard Vuillard, Bernard Buffet, Jacques Villon, Paul Delvaux and Tour Dentelièrea large sculpture by Jean Dubuffet in the atrium) and Lebanon (Shafic Abboud, Hanibal Srouji, Lamia Joreige, Chaouki Chamoun, Jean-Marc Nahas, Paul Wakim, Mohammad Rawas, Hussein Madi). The Geneva headquarters has an ensemble of Old Master paintings (Lucas Cranach the Elder, Pieter Brueghel the Younger, Abel Grimmer, Frans Snyders, Jan van Goyen, Jacob van Ruisdael
).

Corporate social responsibility

Bank Audi started its corporate social responsibility initiatives in 2012. Its CSR policy currently contributes to five pillars: corporate governance, economic development, community development, human development and environmental protection. In 2017,[21] Bank Audi worked mainly on highlighting the SME business line as empowerment to the Lebanon's economic infrastructure, launching the “Let’s Talk Money” quiz, enhancing accessibility to ATM's and branches for the physically disabled, taking part in the Lebanon Climate Act – Climate Change Champion, pledging Goal Leader to SDG 8 – Decent Work and Economic Growth – at UN GCNL and engaging millennials in the Corporate Volunteer Program through the “Spring” account.

Sponsorship

Bank Audi sponsored the More Than Money program by Injaz Lebanon that aims at educating children in school about earning, spending, tracking, and investing cash.[22] The program was delivered to 400 students in six public schools across Lebanon, and consisted of 12 classes given as part of Global money Week activities that extended from 12 to 18 March 2018. Employees from Bank Audi volunteered to give those classes.

Bank Audi also partnered with Beirut Traders Association and collaborated with the MIT Enterprise Forum – Pan Arab Region, to sponsor Grow My Business, which is an entrepreneurship competition that awards three startups for their business idea. The competition was held 6 times, the last of which being in 2017.

Bank Audi launched Beyond Banking Hackathon to nurture Lebanon's fintech and banking sectors by creating an environment for participants to test their ideas prior to launching.[23]

See also

References

  1. ^ "Corporate Profile". Bank Audi. Retrieved 11 May 2021.
  2. ^ a b "Bank Audi Group – Corporate Profile". bankaudigroup.com. Retrieved 2019-02-06.
  3. ^ "Worldwide Correspondents". bankaudi.com.lb. Retrieved 2019-01-23.
  4. ^ "Commercial Register of the Lebanese Ministry of Justice". Archived from the original on 2019-01-24. Retrieved 2019-01-23.
  5. ^ "Banque Du Liban Registered Banks in Lebanon". Archived from the original on 2019-09-14. Retrieved 2019-01-23.
  6. ^ "Our Story - Saradar Group". saradar.com. Archived from the original on 2020-08-15. Retrieved 2019-01-23.
  7. ^ "fundservices Website". fundservices.net. 2019-03-22. Archived from the original on 2021-02-27. Retrieved 2019-03-22.
  8. ^ "Bank Audi Announcements" (PDF). bankaudigroup.com. 2019-02-20. Retrieved 2019-02-20.[permanent dead link]
  9. ^ "Board of Directors and Group Executive Committee". www.bankaudigroup.com. Retrieved 2020-11-04.
  10. ^ "Personal Banking". bankaudi.com.lb. Archived from the original on 2018-11-28. Retrieved 2019-01-23.
  11. ^ "Business Banking". bankaudi.com.lb. Retrieved 2019-01-23.
  12. ^ "Private Banking". bankaudi.com.lb. Retrieved 2019-01-23.
  13. ^ "Bank Audi Shareholders". bankaudigroup.com. Retrieved 2019-01-25.
  14. ^ "Download File". bankaudigroup.com. Retrieved 2019-02-06.
  15. ^ "Bank Audi Launches "Novo", the Ultimate New Banking Experience & Events, ABL - Association of banks in lebanon". abl.org.lb. Archived from the original on 2019-02-02. Retrieved 2019-02-01.
  16. ^ "Interactive Teller". NCR. Retrieved 2019-02-01.
  17. ^ NCR Corporation, NCR Interactive Teller – Bank Audi Case Study, archived from the original on 2021-12-20, retrieved 2019-02-01
  18. ^ "Bank Audi Launches "Tap2Pay"; the First NFC Mobile Payment Service in Lebanon and the Region". MasterCard Social Newsroom. Archived from the original on 2019-04-19. Retrieved 2019-01-23.
  19. ^ "Fête de la Musique 2018 à la Fondation Audi/Musée du Savon". audifoundation.org.lb/. Retrieved 2019-01-25.
  20. ^ "World Cup Matches at Audi Foundation/Soap Museum". audifoundation.org.lb/. Retrieved 2019-01-25.
  21. ^ "Bank Audi's CSR Report 2017-Committed – Press Releases on CSRwire.com". csrwire.com. Retrieved 2019-01-23.
  22. ^ "It is definitely More Than Money with Bank Audi | Injaz Lebanon". injaz-lebanon.org. Retrieved 2019-01-23.
  23. ^ "Seedstars World". Seedstars World. Retrieved 2019-01-23.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Bank_Audi&oldid=1185399358"