In March 2006, Bank Audi sal – Audi Saradar Group acquired Cairo Far East bank sae, an Egyptian bank with a network of 3 Commercial branches and one Islamic branch. The latter’s name was subsequently changed to Bank Audi sae, a fully owned subsidiary of Bank Audi sal – Audi Saradar Group and its capital was raised to USD 100,000,000 - one hundred million . Then at the beginning of 2007, the capital was raised again to reach USD 200,000,000 - two hundred million, thus ranking among the top 4 private banks per equity. This level of investment and determination highlights Bank Audi’s strong growth plans in the Egyptian market and is considered a crucial milestone in the Group’s strategy towards becoming a major player in the Middle East region.

The Bank’s decision to be present in Egypt is driven by its belief in the enticing prospects tied to investing in a market with huge potential and promising structural reforms that would boost its economic growth rates and banking aggregates. The banking market potential is substantial at the commercial and retail banking levels within the context of large prospective needs for developed financial services.

Bank Audi sae’s action plan mainly hinges on the development of commercial and correspondent banking activities, along with extensive retail activities based on the Bank’s acquired expertise in the field.. An extensive retail network will be rapidly deployed within a three-year period.

The acquisition of Cairo Far East Bank sae ensures a good platform to launch Bank Audi’s activities in Egypt. Meant to become Audi Saradar Group’s second largest entity outside Lebanon the Bank aims at achieving a 3% market share in the coming five years, via different important partnerships.

The Bank’s financial philosophy is to increase the sales of its products and services, to boost its operating margins and to manage its capital intensity within very strict control procedures. This would ensure Bank Audi sae a better immunity and help it provide the best banking services and products to individuals and institutions.
Bank Audi sae aims at strengthening domestic franchise through the wide and fast expansion of its branch network which would provide the widest range of high quality products and services.

The Bank is looking for excellence in four fully operational business lines: Retail Banking, Corporate and Commercial Banking, Capital Markets and Investment Banking.
The efficiency and reliability of operations closely stem from enhancing the IT infrastructure and electronic banking platform, as well as a permanent development of its Human Capital.

Bank Audi’s past success and future potential is all driven by the Bank’s values, summarized as follows:

• Transparency - “Transact with integrity and communicate openly with all stakeholders”
• Human Capital - “Promote diversity, provide equal opportunity, reward talent, and value teamwork”
• Heritage - “Perpetuate our reputation and strong past and continue to embrace the challenges of change”
• Quality - “Strive to maintain customer satisfaction in everything we do”
• Civic Role - “Be good citizens in the communities in which we live and work”
• Innovation - “Encourage creativity and optimize the use of technology”

BANK AUDI sae
Board of Directors

• Mr. Hatem A. Sadek – Chairman & Managing Director
• Mr. Raymond W. Audi – Member ⁽²⁾
• Mr. Samir N. Hanna – Member
• Dr. Freddie C. Baz – Member
• Dr. Marwan M. Ghandour – Member ⁽¹⁾
• Mr. Gaby G. Kassis – Member
• Mr. Ramzi N. Saliba – Member
• Dr. Mokhtar Khattab – Member ⁽²⁾
• Mr. Elia S. Samaha – Member
• Mr. Yehia K. Youssef – Secretary of the Board

^{(1) Chairman of the Audit Committee
(2) Members of the Audit Committee}

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