The story
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. In 2004, Bank Audi signed a merger agreement with Banque Saradar.
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.
In January 2021, First Abu Dhabi Bank signed a final agreement to acquire 100% of the Egyptian subsidiary of Bank Audi.
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.
From Wikipedia’s article on Bank Audi, shared under CC BY-SA 4.0.5