Bank Audi

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Bank Audi S.A.L.
TypeSociété anonyme libanaise
Beirut Stock Exchange: AUDI
IndustryFinancial Services
FoundedBeirut, Lebanon (1830 (1830))
Area served
Key people
Raymond Audi
(Honorary Chairman)
Samir Hanna
(Chairman – General Manager and Group Chief Executive Officer)
ProductsConsumer banking, corporate banking, insurance, investment banking, mortgage loans, private banking, private equity, wealth management, credit cards, treasury and capital markets
RevenueIncrease $1.51 billion (2017)[1]
Increase $559 million (2017)[1]
Total assetsIncrease $43.75 billion (2017)[1]
Number of employees
6,248 (2019)[2]

Bank Audi 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 203 branches[3] and more than 500 ATMs, and worldwide correspondents in 29 cities[4] around the world. It operates principally in Lebanon, the MENA region, Jordan and Turkey. As at End-September 2020, Bank Audi's private customers’ deposits reached USD 26.5 billion, with shareholders’ equity reaching US$3.0 billion, and consolidated assets totalling US$35.2 billion.[3]

Bank Audi was Global Finance’s best bank[5] in Lebanon in 2017. It currently ranks 1,415 on Forbes Global 2000 List.[6]


Bank Audi was founded in 1830, but was only incorporated as a bank in 1962. It is registered on the Beirut Commercial Registry[7] under number 11347 and on the Lebanese List of Banks[8] of Banque du Liban under number 56.

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[9] with Banque Saradar, entitling Saradar Holding to become one of the largest shareholders of Bank Audi sal-Audi Saradar Group. After 6 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 (GDR) programme, replacing Deutsche Bank Trust Company Americas as Depositary.[10][11]


Board of directors[edit]

  • Mr. Raymond W. Audi, Honorary Chairman of the Board
  • Mr. Samir N. Hanna, Chairman of the Board – General Manager and Group Chief Executive Officer
  • Dr. Marwan M. Ghandour, Vice-chairman of the Board
  • Mr. Marc J. Audi, Vice-chairman of the Board - General Manager
  • Sheikha Mariam N. Al Sabbah
  • Dr. Imad I. Itani
  • Mr. Abdullah I. Al Hubayb
  • Dr. Khalil M. Bitar
  • Mrs. Sherine R. Audi, General Manager and Board Member of Bank Audi France
  • Mr. Carlos A. Obeid
  • Mr. Farid F. Lahoud, Assistant General Manager - Group Corporate Secretary


Banking services[edit]

Retail and personal banking[edit]

Personal banking at Bank Audi consists of the services and products offered to the individuals.[13] They are accounts, cards, loans, services and specific loans for military generals and employees in the public sector.

Commercial and corporate banking[edit]

Business Banking[14] at Bank Audi is the set of services offered to businesses and corporations in Lebanon. It includes corporate banking, commercial banking, SME banking and cards for managers of those businesses.

Private banking[edit]

Bank Audi Private Bank[15] began its operations in 1976 and has been handling it through three main booking centers based in Switzerland, Jordan and United Arab Emirates. It offers services to high net worth clients with full access to major markets worldwide and global investment products.

Major shareholders[edit]

FRH Investment Holding sal holds the highest shares, followed by Audi family, Heirs of Late Sheikha Suad Hamad Al Saleh Al Homaizi, Sheikh Dhiab Bin Zayed Al Nehayan, Al Sabbah family, and others.[16] In 2018, the European Bank for Reconstruction and Development acquired 2.51% of Bank Audi's total common shares outstanding.[17]

Main subsidiaries[edit]

Bank Audi sal subsidiaries include Odea Bank – Turkey, Bank Audi sae – Egypt, Banque Audi – Switzerland, Audi Private Bank sal, Audi Capital – Kingdom of Saudi Arabia, Bank Audi – Qatar, Bank Audi France sa, Audi Investment Bank sal, SOLIFAC and Audi Investments Holding.[18]

Innovative services[edit]

In 2011, Bank Audi introduced NOVO spaces[19] in selected locations to allow live video chat with tellers and to provide an advisory room for expert consultancies.

Bank Audi introduced Interactive Teller Machines by NCR in 2014.[20] Their concept revolve around allowing customers to talk live to a personal teller for transfers, deposits, cashing cheques and making different types of payments.[21]

In 2014, Bank Audi introduced Tap2Pay, the first NFC mobile payment service in Lebanon and the Middle East.[22]

Panama papers scandal[edit]

On 5 April 2004, the Luxembourger company COMIUM S.A. founded an offshore company (probably also a shell company) in the British Virgin Islands called C-MOBILE GROUP HOLDING LTD. according to the Panama Papers.[23] Bank Audi became a shareholder of C-MOBILE GROUP HOLDING LTD. on 17 September 2008. On the same day, COMIUM GROUP HOLDING S.A. (Not COMIUM S.A.), a company from Luxembourg, became a shareholder and COMIUM S.A. was no longer a shareholder of C-MOBILE GROUP HOLDING LTD. [23] At that time Bank Audi was still merged with Banque Saradar [24] so both Saradar Group and Bank Audi were shareholders of C-MOBILE GROUP HOLDING LTD. On 24 March 2009, COMIUM GROUP HOLDING S.A. was no longer a shareholder of the company and a company from Luxembourg called COMIUM GROUP HOLDING LIMITED became a shareholder of C-MOBILE GROUP HOLDING LTD. [23] On 25 March 2010, Banque Saradar separated from Bank Audi so the share of C-MOBILE GROUP HOLDING LTD. goes to Bank Audi. [23]


Audi foundation[edit]

Founded in 2000 by Raymond Audi, the Audi Foundation aims at preserving the culture, heritage and craftsmanship of Sidon, Lebanon's third largest city and the capital of Southern Lebanon. The foundation is based in a traditional Lebanese house in Sidon, where there is also an old soap factory restored into a museum, a kitchen and café, and an artisan soap boutique.

In 2018, World Music Day was celebrated in Audi Foundation with two concerts,[25] and the Swiss World Cup matches[26] were transmitted on the terraces, in an event organized by the Embassy of Switzerland in Lebanon.

Corporate art collection[edit]

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 Rue Sursock in the Achrafieh neighborhood of Beirut shelters mosaics and other pieces from 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[edit]

Bank Audi started its CSR initiatives in 2012. Its CSR policy currently contributes to five pillars: corporate governance, economic development, community development, human development and environmental protection. In 2017,[27] 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.


Bank Audi sponsored More Than Money[28] program by Injaz Lebanon that aims at educating children in school about money: earning it, spending it, sharing it, tracking it and investing it. 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 (BTA), 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[29] to nurture Lebanon's fintech and banking sectors by creating an environment for participants to test their ideas prior to launching.

See also[edit]


  1. ^ a b c "Top Banks in Lebanon". Corporate Finance Institute. Retrieved 7 February 2019.
  2. ^ "Corporate Profile". Bank Audi. Retrieved 7 February 2019.
  3. ^ a b "Bank Audi Group – Corporate Profile". Retrieved 2019-02-06.
  4. ^ "Worldwide Correspondents". Retrieved 2019-01-23.
  5. ^ May 02; Platt, 2013 Author: Gordon; Gregson, Jonathan. "Global Finance Magazine - World's Best Banks 2013: Middle East". Global Finance Magazine. Retrieved 2019-01-23.
  6. ^ "The World's Largest Public Companies". Forbes. Retrieved 2019-01-23.
  7. ^ "Commercial Register of the Lebanese Ministry of Justice".
  8. ^ "Banque Du Liban Registered Banks in Lebanon".
  9. ^ "Our Story - Saradar Group". Retrieved 2019-01-23.
  10. ^ "fundservices Website". 2019-03-22. Retrieved 2019-03-22.
  11. ^ "Bank Audi Announcements" (PDF). 2019-02-20. Retrieved 2019-02-20.
  12. ^ "Board of Directors and Group Executive Committee". Retrieved 2020-11-04.
  13. ^ "Personal Banking". Archived from the original on 2018-11-28. Retrieved 2019-01-23.
  14. ^ "Business Banking". Retrieved 2019-01-23.
  15. ^ "Private Banking". Retrieved 2019-01-23.
  16. ^ "Bank Audi Shareholders". Retrieved 2019-01-25.
  17. ^ "EBRD invests in Bank Audi, launching its first project in Lebanon". Retrieved 2019-02-06.
  18. ^ "Download File". Retrieved 2019-02-06.
  19. ^ "Bank Audi Launches "Novo", the Ultimate New Banking Experience & Events, ABL - Association of banks in lebanon". Retrieved 2019-02-01.
  20. ^ "Interactive Teller". NCR. Retrieved 2019-02-01.
  21. ^ NCR Corporation, NCR Interactive Teller – Bank Audi Case Study, retrieved 2019-02-01
  22. ^ "Bank Audi Launches "Tap2Pay"; the First NFC Mobile Payment Service in Lebanon and the Region". MasterCard Social Newsroom. Retrieved 2019-01-23.
  23. ^ a b c d "C-MOBILE GROUP HOLDING LTD. | ICIJ Offshore Leaks Database".
  24. ^ "Page not found | Saradar Capital Holding". Cite uses generic title (help)
  25. ^ "Fête de la Musique 2018 à la Fondation Audi/Musée du Savon". Retrieved 2019-01-25.
  26. ^ "World Cup Matches at Audi Foundation/Soap Museum". Retrieved 2019-01-25.
  27. ^ "Bank Audi's CSR Report 2017-Committed – Press Releases on". Retrieved 2019-01-23.
  28. ^ "It is definitely More Than Money with Bank Audi | Injaz Lebanon". Retrieved 2019-01-23.
  29. ^ "Seedstars World". Seedstars World. Retrieved 2019-01-23.