Bank Audi Assembles $210 Million for Capital Increase
Posted on 02/24/2020
On February 20, 2020, Bank Audi S.A.L. raised more than US$ 210 million in cash. The Central Bank of Lebanon (also known as Banque Du Liban) demanded banks increase their Common Equity Tier 1 capital by 10% via cash injections by the end of 2019 and another 10% by the end of June 30, 2020.
First Abu Dhabi Bank is in discussions with Bank Audi to acquire Bank Audi’s Egyptian banking unit.
Bank Audi is Lebanon’s biggest bank in terms of both customer deposits and total assets. Raymond Wadih Audi formed Bank Audi with his brothers, father, and a businessman from Kuwait.