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Facts & Figures 66.5x19 new.indd 7
FACTS AND FIGURES 08
BANK AUDI
FACTS AND FIGURES
SYRIA
2009
6/16/10 10:28 AM
Geography
Surface (in sqkm)
Land boundaries’ length (in km)
Coastline length (in km)
Maximum altitude: Mt. Al-Sheikh (in m) Maximum river length within syrian territory: Euphrates (in km)
Principal lake: Al-Assad (in sqkm)
Main dam: Euphrates (storage capacity, in m3 000s)
Average temperature (in centigrade)
Average humidity rate Annual precipitation (in mm)
Number of rainy days per year
68%
Demography
Population (in million)
Population growth rate
Population under 15 years (% of total population)
Population density (per sqkm)
Urban population (% of total population)
Adult literacy rate Life expectancy at birth Infant mortality rate (per 1,000 live births)
Human Development Index (UNDP)
Land use (in hectares 000s)
Cultivable lands
o.w. irrigated
o.w. non-irrigated
o.w. fallow
o.w. uncultivated
Uncultivable lands
Steppe and pastures
Forests
Infrastructure (in km)
Road length
Railway length
Airports : Damascus, Aleppo, Bassel-Al-Assad, Deir-ez-Zor, Al-Kamishli
Ports : Lattakia, Banias, Tartous, Arwad
185,180
2,413
193
2,814
610
674
14,100,000
18-22
46%-68%
102-1,128
35-92
20.4
2.0%
36.4%
110
54.0%
79.6%
74.2
17
0.716
6,039
1,396
3,341
845
362
3,677
8,290
601
51,967
2,833
General
Currency : Syrian Pound
Official language : Arabic
Number of cities
Number of villages
Number of mohafazats
Facts & Figures 66.5x19 new.indd 6
111
6,309
14
6/16/10 10:28 AM
2007
2008
2009
Nominal GDP (SP billion)
2,025
1,558
o.w. non-oil
GDP per capita (SP 000s)
104.4
13.7
GDP deflator
Real GDP growth rate (%)
4.3%
o.w. oil
-4.8%
5.8%
o.w. non-oil
2,535
1,896
127.5
19.0
2,437
2,037
119.7
-7.5
5.2%
0.0%
6.0%
4.0%
0.2%
4.5%
Nominal GDP*
40.6
54.5
12.3
16.0
Imports
Exports
11.8
14.0
52.8
70.5
Total supply = Total demand
Oil production (000 b/d)
380
387
Expenditure on GDP (% real change)
Private consumption
2.1
5.4
Public consumption
23.6
2.4
7.9
5.8
Gross fixed investment
52.5
13.1
10.1
65.6
368
Macroeconomic Indicators*
National Accounts (US$ billion)**
2.2
2.0
-1.0
* As per IMF figures
** As per EIU figures
Crude Oil Production (barrels/day)
Company
Syrian Petroleum Company
- 186,636
Al Furat Petroleum Company
- 118,789
-
29,612
Deir ez-Zor Petroleum Company
SIPC-Syria
-
11,458
-
3,775
Dajleh Petroleum Company
Kawkab Petroleum Company
-
8,338
Syrian Gas Company
-
5,541
Hayan Petroleum Company
-
2,374
Total
- 376,525
Tourism
Number of arrivals (in millions)
-
o.w. Arab countries
-
o.w. Non-GCC countries
-
o.w. GCC countries
-
-
o.w. non-Arab countries
o.w. Europe
-
o.w. Others
-
Nights spent at hotels (000s)
-
Tourists spending (SP billion)
-
Communications
Main fixed telephone lines per 100 people
Mobile cellular subscriptions per 100 people
Proportion of households with internet
Proportion of households with computer
International internet bandwidth Bit/s per internet user
Facts & Figures 66.5x19 new.indd 5
16.8
30.4
30.0
35.0
304
200,783
103,481
27,555
14,230
12,305
9,954
6,017
2,594
376,920
5.43
3.30
2.65
0.65
1.13
0.61
0.39
6.09
3.50
2.74
0.76
1.40
0.77
0.42
800,722
200
936,845
242
17.1
33.2
31.2
38.5
589
-
6/16/10 10:28 AM
2007
2008
2009
Aicrafts at Syrian airports
40,849
Passengers transported by Syrian airlines (000s)
1,272
Merchandise transported by Syrian airlines (tons)
4,297
Vessels at Syrian ports*
4,154
Merchandise at Syrian ports* (tons 000s)
20,405
Passengers transported by buses (000s)
97,082
Passengers transported by Syrian railways (000s)
2,492
Merchandise transported by Syrian railways (tons 000s)
9,450
Vehicules in Syria (000s)
1,389
50,594
1,028
3,383
52,969
738
1,622
4,156
21,001
4,602
23,468
128,131
3,365
9,307
1,555
167,425
3,656
8,842
1,753
24,033
12,277
11,756
-521
95.8%
29,960
15,978
13,982
-1,996
87.5%
23,244
13,111
10,133
-2,978
77.3%
5.2%
1.3%
3.0%
21.8%
9.8%
10.6%
3.5%
4.8%
4.2%
16.7%
10.7%
8.8%
7.8%
6.8%
6.7%
4.8%
4.2%
3.0%
-
9.7%
7.9%
5.8%
5.0%
6.7%
5.5%
4.3%
4.6%
4.1%
13.0%
10.9%
9.8%
7.9%
4.7%
3.7%
3.4%
3.3%
2.8%
-
Transport
* Tartous and Lattakia
Foreign Trade** (US$ million)
Foreign trade
Imports
Exports
Trade balance
Exports/Imports
** As per EIU figures
Exports to Main Trade Partners
Iraq
Germany
Lebanon
Italy
Saudi Arabia
France
Egypt
Turkey
Jordan Imports from Main Trade Partners
Russia
China
Ukraine
Malta
Italy
Saudi Arabia
Egypt
South Korea
Turkey
Facts & Figures 66.5x19 new.indd 4
6/16/10 10:28 AM
2007
2008
2009
849
-689
820
459
1.1%
1,051
-718
976
-687
-1.3%
1,388
-641
806
-1,426
-2.7%
Revenues
9.2
o.w. oil revenues
2.0
7.2
o.w. non-oil revenues
Expenditures
10.8
o.w. current expenditures
6.9
3.9
o.w. development expenditures
Fiscal balance
-1.6
Total gross external debt
5.9
Total government debt
16.4
Total revenues/Total expenditures
85.2%
-15.0%
Budget balance/Total expenditures
Budget balance/GDP
-4.0%
Fiscal balance/GDP
-4.0%
Total gross external debt/GDP
14.5%
Total government debt/GDP
40.5%
10.6
2.8
7.7
12.0
8.3
3.7
-1.5
11.5
2.4
9.1
14.3
8.7
5.4
-2.9
5.7
16.4
6.1
16.8
88.0%
-12.7%
-2.8%
80.2%
-20.1%
-5.5%
-2.8%
10.4%
30.1%
-5.5%
11.7%
32.0%
Balance of Payments (US$ million)*
Services balance
Income balance
Current transfers balance
Current account balance
Current account balance/GDP
* As per EIU figures
Public Finance (US$ billion)**
** As per IMF figures
DSE Stocks’ Performance since Launch
(Mar 09- (Dec 09
Dec 09)
Apr 10)
Market Cap Index (% change)
233.8%
31.0%
Price Index (% change)
78.3%
26.2%
Launch Apr 30th
Market
Listed Companies
Price (SP) 2010 price cap (SP m)
Bank Audi Syria
1,380
2,726
13,629
Syrian International Islamic Bank
630
1,268
12,685
Banque Bemo Saudi Fransi
1,050
1,792
11,650
International Bank for Trade & Finance
850
1,410
8,459
Bank of Syria and Overseas
750
1,376
8,256
Arab Bank Syria
720
1,293
7,761
Byblos Bank Syria
575
886
3,542
Al-Ahliah Vegetable Oil Company
550
694
2,082
United Insurance Company
700
933
1,586
United Group
170
515
1,544
Al-Ahliah Transport
900
1,203
484
Agricultural Engineering (Nama)
400
735
412
Facts & Figures 66.5x19 new.indd 3
6/16/10 10:28 AM
2007
2008
2009
Monetary Situation (SP million)
Money supply
1,472,609 1,656,100 1,808,476
o.w. Money
731,669 827,260 912,630
o.w. Quasi-money
740,940 828,840 895,846
Other items (net)
-25,013 -148,539 -94,009
Total
1,447,596 1,507,561 1,714,467
Counterparts of money supply
Foreign assets (net)
707,948 591,043 604,906
Claims on public sector
434,124 525,385 607,931
Claims on private sector
305,524 391,133 501,630
Banking Activity (SP million)
Activity highlights (SP million)
Total assets
1,593,228 1,716,198 1,964,368
Total deposits
924,448 1,069,384 1,199,629
Total credits facilities to the private sector
305,524 391,133 501,630
Capital accounts
208,267 202,668 227,178
Key ratios
Assets/GDP
78.7%
67.7%
80.6%
Deposits/GDP
45.7%
42.2%
49.2%
Population/branch (in 000s)
55.8
52.9
46.0
Deposits/population (LE)
47,640
53,792
58,901
Asset growth
13.0%
7.7%
14.5%
Deposit growth
14.9%
15.7%
12.2%
FC deposits/Total deposits
20.0%
19.7%
16.1%
4.6%
6.7%
6.6%
FC credit facilities/Total credit facilities to the private sector
Total credit facilities/Total deposits
33.0%
36.6%
41.8%
Total capital accounts /Total assets
13.1%
11.8%
11.6%
Interest rates on credit facilities in SP (weighted average in %)
Short term
9.67%
9.70%
8.06%
Medium term
10.02%
9.71%
9.44%
Long term
10.32% 10.04%
9.36%
Interest rates on saving deposits in SP (weighted average in %)
4.81%
4.79%
4.67%
Prices
Inflation - CPI (%)
4.5%
15.2%
CPI by category
Foodstuff
8.8%
20.3%
Clothes and shoes
1.7%
8.5%
House equipments
0.9%
13.4%
Health
-1.7%
6.2%
Transportation
0.9%
36.0%
Communication
-3.1%
-6.3%
Education
3.6%
5.3%
Hotels and restaurants
2.8%
9.9%
Foreign currency exchange rate (SP/$)
50.0
46.5
Facts & Figures 66.5x19 new.indd 2
2.8%
0.7%
-2.4%
7.1%
3.3%
13.2%
1.1%
12.5%
13.1%
45.7
6/16/10 10:28 AM
The Syrian economy has performed satisfactorily in relative terms in the midst of the worst
global crisis in living memory. The real sector of the Syrian economy did in fact escape the
recessionary trap or the negative growth rates reported in a large number of regional and
global countries. But it recorded lower growth over the past year year, with the IMF recently
estimating real GDP growth at 4% in 2009 from close to 5.2% in 2008. The slowdown
in Syria’s economic conditions and the fall in average global commodity prices reduced
inflation from a high of 15.2% in the year 2008 to around 2.8% in 2009 as per recent
Central Bank of Syria figures.
Domestic environment considerations were important growth drivers for Syria in 2009.
The improvement in Syria’s foreign political relations and the gradual liberalization of
its centrally planned economy created an upside potential to the domestic business
environment. Domestic investment was also somehow encouraged this year by growing
bank lending to the private sector. Likewise, private consumption somehow benefited from
the wage adjustment of the previous year. At the level of specific sectoral considerations,
agriculture, an important sector in Syria’s output formation, has been doing relatively better
reporting a growing share in GDP (around 25%) in 2009.
Syria’s external growth drivers were mixed. The net impact of changes in oil prices throughout
2009 on Syria’s trade balance was limited because the country’s imports of refined products
became about recently in line in value to its exports of crude oil. Syrian non-oil exports were
obviously impacted by the slowdown in Syria’s foreign trade partners. This, along with the
fall in oil exports, resulted in a yearly contraction in Syria’s exports. The World Bank estimates
inward remittances into Syria at US$ 827 million in 2009, down by a yearly 2.7%, as Syrians
residing abroad experienced a cut in income or even job losses in some hosting Arab and
Western countries. On the other hand, regional FDI pressures, as a result of the contraction
in regional liquidity, were somewhat offset by the rising confidence factor in Syria driven
by the improvement in political relations. Also, Syria was among the few countries across
the globe that recorded an increase in the number of tourists, with latest Tourism Ministry
figures indicating six million visitors in 2009, a rise of 12% relative to 2008.
A number of policy actions aimed to support countercyclical measures in a tough global
and regional environment. At the fiscal policy level, growing public spending, along with
lower public revenue growth, have supported growth but generated a widening of the deficit
to US$ 2.9 billion in 2009, or 5.5% of GDP according to IMF figures. At the monetary level,
Syrian authorities intervened by reducing bank reserve requirements for lending to the
industrial sector in order to stir investment in times of crisis.
Syria’s 2010 outlook actually depends to a large extent on the signs of global and regional
recovery, but also on domestic factors such as the extension of new waves of loans by banks
operating in Syria, the launch or continuation of projects under the auspices of both private
and public sectors and the impact of further reforms on the country’s business infrastructure
at large. Within this context, the IMF adopted recently a 5% real growth forecast for 2010
(5.5% on average for the next five years) along with a 5% annual inflation rate.
As the global economy started to embrace again the path of recovery, the Syrian economy
finds itself in front of a genuine opportunity: that of pressing ahead with broad based
structural and financial reforms responding to the economy’s large structural requirements.
Major challenges consist of further opening up and diversifying the economy while fostering
entrepreneurship and investment. Such changes are apt to entice sustainably higher inflows
of capital into the local economy and foster higher domestic consumption and investment
demand while gradually improving standards of living and welfare in years ahead.
Facts & Figures 66.5x19 new.indd 1
6/16/10 10:28 AM
SYRIA
Bank Audi Syria sa
Capital: SYP 5,000,000,000 fully paid
C.R. 14456 Damascus
List of Banks No. 12
headquarters
1- Plaza 86 Bldg., Cham City Center, Street No. 2,
Tanzeem Kafarsouseh, Damascus.
P.O. Box 6228 Damascus, Syria.
Tel: (963-11) 23888000. Fax: (963-11) 2248510.
E-mail: [email protected]
2- Mohafaza Bldg., Youssef Al-Azmeh Square, Damascus.
P.O. Box 6228 Damascus, Syria.
Tel: (963-11) 23888000. Fax: (963-11) 2454197.
E-mail: [email protected]
DAMASCUS
Mohafaza
(Main Branch)
Mohafaza Bldg., Youssef Al-Azmeh Square.
Tel: (963-11) 23888000. Fax: (963-11) 2247782.
Mazzeh
Mazzeh Highway (near Al-Muhandes Al-Arabi Bldg.).
Tel: (963-11) 6626612. Fax: (963-11) 6626619.
Abu Rummaneh
Kanawati Bldg. (facing Japanese embassy), 7 Al-Jalaa Street, Abu Rummaneh.
Tel: (963-11) 3346408. Fax: (963-11) 3346410.
West Mazzeh
Al Massoudi Street (facing “City Mall” main entrance).
Tel: (963-11) 6630397. Fax: (963-11) 6630385.
Malki
Abdul Mona’em Riad Street (next to “German Cultural Center - Goethe”).
Tel: (963-11) 3739695. Fax: (963-11) 3739503.
Kafarsouseh
Cham City Center, Street No. 2, Tanzeem Kafarsouseh.
Tel: (963-11) 2111593. Fax: (963-11) 2111897.
Kassaa
Droubi Bldg., Al Akhtal Street, Kassaa Street extension, Al Abbassyeen Square.
Tel: (963-11) 4459160. Fax: (963-11) 4459322.
Harika
Al Kuwatli Bldg., 1st Floor, Abd El Kader Al Husseini Street.
Tel: (963-11) 2217870. Fax: (963-11) 2218420.
Dummar
Island No. 1, Cham Mall, Dummar Project.
Tel: (963-11) 3142320. Fax: (963-11) 3142324.
Facts & Figures 66.5x19 new.indd 11
6/16/10 10:28 AM
DAMASCUS REEF
Harasta
Basal Area (next to Dacia Cars Agency), Harasta.
Tel: (963-11) 4475890. Fax: (963-11) 4475891.
Jaramana Al Baladia Square, Jaramana.
Tel: (963 11) 5637272. Fax: (963-11) 5637279.
ALEPPO
Regional Office – North Baghdad Station, Majd Al-Deen Al-Jabri Street, Al Aziziyah.
Tel: (963-21) 2279801-6. Fax: (963-21) 2279809.
Aziziyah
(Main Branch)
Baghdad Station, Majd Al-Deen Al-Jabri Street, Al Aziziyah.
Tel: (963-21) 2279801-6. Fax: (963-21) 2279809.
Souk Al Intaj
Mohafaza, Souk Al Intaj.
Tel: (963-21) 2241033. Fax: (963-21) 2241023.
LATTAKIA
Lattakia
Al-Jazair Street, facing Customs Administration Bldg., Old Port Area.
Tel: (963-41) 486023. Fax: (963-41) 486024.
HOMS
Homs
Al Atassi Bldg., Shukri Kuwatli Street.
Tel: (963-31) 2454415. Fax: (963-31) 2454420.
TARTOUS
Tartous
Salah Daniel Bldg., Amn Al-Dawlah Square, 8 March Street.
Tel: (963-43) 324868. Fax: (963-43) 324866.
AL HASAKA
Al Qameshli
Bldg. 116, Port Said Street, Al Qameshli.
Tel: (963-52) 427222. Fax: (963-52) 447616.
HAMA
Hama
Al Assi Square, facing Al Nawaeer (next to MTN).
Tel: (963-33) 219560. Fax: (963-33) 219567.
DARAA
Daraa
Daraa Tourism Hotel (next to Police Headquarters).
Tel: (963-15) 211400. Fax: (963-15) 211407.
DEIR AL ZOUR
Deir Al Zour
Corniche Al Nahr (next to Al Nour Specialist Hospital).
Tel: (963-51) 375900. Fax: (963-51) 375907.
SWEIDA
Sweida
Facts & Figures 66.5x19 new.indd 10
Al Muhwari Street.
Tel: (963-16) 228146. Fax (963-16) 228137.
6/16/10 10:28 AM
Syrian Arab Insurance sa
Roman Catholic Patriarchate Bldg., Shakib Arslan Street, Abu Rummaneh, Damascus.
P.O. Box: 11054 Damascus, Syria.
Tel: (963-11) 9206. Fax: (963-11) 3348039.
E-mail: [email protected] – http://www.syrian-arab.com
LEBANON
Bank Audi sal - Audi Saradar Group
Bank Audi Plaza, Bab Idriss, Beirut 2021 8102 - Lebanon.
P.O. Box 11-2560 Riad El Solh, Beirut 1107 2808 - Lebanon.
Tel: (961-1) 994000. Fax: (961-1) 990555.
E-mail: [email protected] - http://www.banqueaudi.com
Audi Saradar Investment Bank sal
Bank Audi Plaza, Block D, France Street, Bab Idriss, Beirut 2021 8102 - Lebanon.
P.O. Box: 16-5110 Beirut - Lebanon.
Tel: (961-1) 994000. Fax: (961-1) 999406, 200950.
E-mail: [email protected]
Audi Saradar Private Bank sal
Clover Bldg., Charles Malek Avenue, Ashrafieh, Beirut.
P.O. Box: 11-1121 & 11-3312 Riad El-Solh, 1107 2805 Beirut - Lebanon.
Tel: (961-1) 205400, 208400. Fax: (961-1) 205480, 205454.
E-mail: [email protected] – http://www.audisaradarpb.com
LIA Insurance sal
Cité Dora I - Dora Highway.
P.O. Box: 11-1439 Riad El-Solh, Beirut 1107 2080 - Lebanon.
Tel: (961-1) 255640. Fax: (961-1) 255659.
E-mail: [email protected] – http://www.lialebanon.com
switzerland - Banque Audi (Suisse) sa
18, Cours des Bastions.
P.O. Box: 384. 1211 Geneva 12, Switzerland.
Tel: (41-22) 704 11 11 Fax: (41-22) 704 11 00.
E-mail: [email protected] – http://www.bankaudi.ch
Gibraltar branch
Suite 204 Neptune House, Marina Bay.
P.O. Box: 1155, Gibraltar.
Tel: (350) 200 03500. Fax: (350) 200 03590.
E-mail: [email protected]
Beirut Representative Office
Bank Audi Plaza, Bab Idriss.
P.O. Box: 11-2666 Riad El Solh.
Beirut 1107 2110 - Lebanon.
Tel: (961-1) 977 544. Fax: (961-1) 980 535.
Facts & Figures 66.5x19 new.indd 9
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France - Bank Audi Saradar France sa
73, Avenue des Champs-Elysées. 75008 Paris, France.
Tel: (33-1) 53 83 50 00. Fax: (33-1) 42 56 09 74.
E-mail: [email protected]
JordaN - Bank Audi sal - Jordan Branches
Le Royal Hotel Complex, Zahran Street, 3rd Circle, Jabal Amman, Amman.
P.O. Box 840006 Amman. 11184, Jordan.
Tel: (962-6) 4604000. Fax: (962-6) 4680015.
E-mail: [email protected]
EGYPT - Bank Audi sae
Pyramids Heights Office Park, Cairo-Alexandria Desert Road, Km 22,
Sixth of October City.
P.O. Box 757. Postal Code 11511.
Tel: (20-2) 35343300. Fax: (20-2) 35362120.
E-mail: [email protected]
SUDAN - National Bank of Sudan
National Bank of Sudan Bldg., Block 1, Kasr Avenue, East Khartoum.
P.O. Box 1183, Khartoum, Sudan.
Tel: (249-183) 797993. Fax: (249-183) 779545.
E-mail: [email protected]
SAUDI ARABIA - Audi Capital (KSA) cjsc
Centria Bldg., 3rd Floor, Prince Mohammad Bin Abdul Aziz Road (Tahlia).
P.O. Box 250744, Riyadh 11391 Kingdom of Saudi Arabia.
Tel: (966-1) 2199300. Fax: (966-1) 4627942.
E-mail: [email protected] – http://www.audicapital.com
qatar - Bank Audi LLC
Qatar Financial Centre, Office 1801, 18th Floor, Qatar Financial Centre Tower, Diplomatic Area, Doha.
P.O. Box: 23270 Doha, Qatar.
Tel: (974) 4967365. Fax: (974) 4967373.
E-mail: [email protected]
United arab emirates - Bank Audi sal
Abu Dhabi Representative Office
Arab Monetary Fund Bldg., Corniche Street, Abu Dhabi.
P.O. Box 94409.
Tel: (971-2) 6331180. Fax: (971-2) 6336044.
E-mail: [email protected]
Facts & Figures 66.5x19 new.indd 8
6/16/10 10:28 AM
Research Department - Bank Audi sal
Bank Audi Plaza, Bab Idriss - Beirut 2021 8102 - Lebanon
P.O. Box 11-2560 Riad El-Solh - Beirut 1107 2808 - Lebanon
Tel: (961-1) 994000 - Fax: (961-1) 985622.
E-mail: [email protected] - http://www.banqueaudi.com
Sources
Central Bank of Syria, “Quarterly Bulletin”
Central Bureau of Statistics, “Syria Statistical Abstract”
Syrian Ministry of Finance
Syrian Ministry of Industry
Syrian Ministry of Electricity
Syrian Ministry of Transport
Syrian Insurance Company
International Monetary Fund, “International Financial Statistics”
World Bank, “World Development Indicators”
UNDP, “Human Development Report”
Economist Intelligence Unit
International Energy Agency
The Oxford Business Group, “Emerging Syria”
Arab Monetary Fund
The Syria Report
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