# Bank Audi

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 operates principally in Lebanon, in Europe, in the MENA region and in Turkey. As at end-June 2024, Bank Audi’s consolidated assets reached LBP 1,506,637 billion, principally driven by private customers’ deposits of LBP 1,114,289 billion, with shareholders’ equity reaching LBP 84,416 billion. Bank Audi’s group staff headcount exceeds 2,900 employees and its shareholders’ base encompasses more than 1,500 holders of common shares and/or holders of Global Depositary Receipts (GDRs) representing common shares.

## History

Bank Audi was founded in 1830, but was only incorporated as a bank in 1962.
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. 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.
After former Central Bank of Lebanon governor Riad Salameh was charged with embezzling $330 million in public funds, the Swiss financial regulator FINMA launched investigations into Lebanese banks with operations in Switzerland and in 2024 censured Bank Audi for serious money laundering violations.

## Operations
### Board of directors

* Mr. Samir N. Hanna, Chairman of the Board of Directors
* Dr. Marwan M. Ghandour
* Mr. Marc J. Audi
* Mr. Abdullah I. Al Hubayb
* Dr. Khalil M. Bitar
* Mrs. Sherine R. Audi
* Mr. Farid F. Lahoud, Group corporate secretary

### Banking services
#### Retail and personal banking

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

#### Commercial and corporate banking

Business Banking 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.

### 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.

### 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.

## 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.
Bank Audi introduced Interactive Teller Machines by the NCR Corporation in 2014. Their concept revolve around allowing customers to talk live to a personal teller for transfers, deposits, cashing cheques and making different types of payments.
In 2014, Bank Audi introduced Tap2Pay, the first near-field communication mobile payment service in Lebanon and the Middle East.

## 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, and the Swiss World Cup matches were transmitted on the terraces, in an event.

### Corporate art collection

Bank Audi created a comprehensive corporate art collection, located in three of the bank's buildings.

## 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,

## 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.
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.