Bank Audi SAL
Origin of Bank Audi SAL
Bank Audi was founded in 1976. In the beginning, the main office was in Zurich but was transferred after a while to Geneva. In 2001 the bank was taken over by the mother company Bank Audi sal. Beirut, Lebanon. The bank has a representative office in Beirut, an Asset Management Office in Monaco and branches in Saudi Arabia, Qatar, and UAE. Bank Audi Switzerland is the wealth management arm of the Audi Group.
Bank Audi sal. was founded in 1830 and is existing in the actual form since 1962. The shareholders were at the beginning the Audi family and some investors from Kuwait. Since 1983 the structure was changed, and today the bank has more than 1’500 shareholders. Bank Audi (Switzerland) is the second largest private bank in Switzerland. Audi Private Bank has three main booking centers, namely Bank Audi (Switzerland), Audi Private Bank and Audi Capital.
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Philosophy and Strategy
In the Middle East, Bank Audi is the best bank for customer service. Bank Audi SAL has a team of experts that secure a prosperous future for their client and their next generations. Steady growth and preserving the capital is significant to Bank Audi. The bank has a prudent approach and conservative wealth management. The independence allows it to give the best service to their clients. The Audi Group aims to consolidate all the private banking entities under one holding company. This process should be completed in 2018.
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Services and Solutions
Bank Audi’s clients are high-net-worth-individuals, especially from the MENA region. The bank offers tailor-made services and has access to markets and products all over the world. The facilities include discretionary portfolio management, which is the core service of the wealth management, investment services, trade execution, Lombard credit, metals and foreign exchange and fiduciary deposits.
The discretionary portfolio management is managed by a specialist team of experts which assesses the market conditions and market opportunities on a regular basis to make the best investment decisions for the client. The client can choose between four different approaches, namely aggressive, growth, balanced and conservative. The Audi Capital specialist team in Saudi Arabia offers investment opportunities in the MENA region.
The investment service gives the client the chance to get actively involved in the decision process. The client has access to all asset classes, like fixed income, equities, ETFs, funds, precious metals, foreign exchange, capital guaranteed notes, options, structured products and tailor-made strategies. If the client wishes to leverage his portfolio, he has access to Lombard credit and loan facilities. The trade execution desk is equipped with professional traders who give the clients the best possible service and execution.
The desk offers late-night trading. The forex and precious metals department provides a lot of different strategies to their clients. All major currencies can be traded, and the client has the opportunity to get involved in spot, forward and swap transactions as well as in options transactions, like plain vanilla or exotic strategies. Fiduciary deposits give the client the opportunity to get involved in individual markets, like Turkey or Lebanon.
Risk Management
The bank has an active and prudent approach towards risk assessment. The risk management has a top priority. The Board of Directors approves the risk profile. The intention is to identify the risks at the group level. The main areas of risks are the credit risk, the operational risk, the liquidity risk and the market risk. Other risks are the legal risk, the concentration risk, the business risk, the reputation risk and the strategic risk. An ongoing identification, mitigation, monitoring, controlling, reporting and measuring of the risks is crucial. The bank aims to have an appropriate risk/reward balance.
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Added-Value Services
Bank Audi Private Bank received several awards in 2017 by prestigious publications, such as Global Investor, Euromoney, The Banker and Global Finance for their private banking services. Audi Private Bank is also structuring and managing regional MENA and Saudi funds. Adopting state of the art IT-technology is one of the strategies of the bank. It is essential to protect client’s data and the bank’s operations against cyber-attacks. Bank Audi has an online platform for their private banking clients.
Bank Audi SAL – Facts & Figures
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| Address | Cours des Bastions 18, 1211 Geneva |
|---|---|
| Phone | +41 22 704 11 11 |
| Website | www.bankaudipb.com |
| Year of foundation | 1976 |
| Subsidiaries | 1 |
| No. of employees | 92 |
| Rating | – |
| Chairman | Philippe Sednaoui |
| CEO | Ragy Boustany |
| Eligible Regulatory Capital | 185.467 m CHF |
| Tier 1 Ratio | 49.51 % |
| Leverage Exposure | 1.857 bn CHF |
| Leverage Ratio | 9.68 % |
| Liquidity Coverage Ratio | 393 % |
| Risk Weighted Assets | 363.135 m CHF |
| Loans outstanding | 507.624 m CHF |
| Assets under Management | 5.651 bn CHF |
| Assets under Management / Employees | 61.423 m CHF |
| Net profit | 8.009 m CHF |
| Net Profit / Employees | 87’054 CHF |
| Cost / Income Cost Ratio (CIR) | 74.03 % |
| Return on Equity | 4.45 % |
| Own structured products | No |
| Foreigners accepted | Yes |
| Presence abroad | Lebanon |
Source: Annual Report 2021
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