Graduation Project - Full Time Training
Early in August 2005, following the Initial Public Offering (IPO) of Bank Audi Syria sa, Syrian shareholders subscribed with the equivalent of SYP 6.177 billion, which represented a coverage of 988%, compared to the targeted amount to be raised (SYP 625 million – 25% of the Bank’s capital), making this the highest oversubscription rate ever achieved by any institution in Syria to date.The Bank launched operations in September 2005 with a capital of USD 50 million, one of the largest start-up capital ever recorded in the Syrian banking sector, opening 1 branch and a head office in Damascus. Today, Bank Audi Syria sa has a solid network of 22 branches spread across all Syrian governorates and offering a diversified portfolio of commercial and retail products, with more branches planned for the near future.Over the course of August 2009, the Bank first doubled its capital to USD 100 million, and then raised it again to USD 107 million following the extraordinary general assembly meeting on May 3, 2010.Another step to increase the Bank’s capital has been taken during the Extraordinary General Assembly meeting on April 5, 2011 and the Bank’s capital stands now at USD 121 million.