Lifetime Acheivement Award: Raymond Audi
Bank Audi has become one of the region’s most successful and enduring institutions with, at the end of 2005, total assets of $11.5 billion, shareholders’ equity of $949 million and net profits of $106 million. The bank has just announced a $600 million capital increase, boosting its capital to $1.5 billion as part of an ambitious five-year regional expansion plan.
But these bald statistics mask the nature of Raymond Audi’s achievements. Between 1975 and 1990 Lebanon was convulsed by a civil war that left 70,000 dead and the country’s infrastructure in ruins. Beirut, the capital, became a synonym for destruction and chaos.