FACTS AND FIGURES 08

BANK AUDI FACTS AND FIGURES 2009

Facts & Figures 66.5x19 new.indd 7 6/16/10 10:28 AM Geography Surface (in sqkm) 185,180 Land boundaries’ length (in km) 2,413 Coastline length (in km) 193 Maximum altitude: Mt. Al-Sheikh (in m) 2,814 Maximum river length within syrian territory: (in km) 610 Principal lake: Al-Assad (in sqkm) 674 Main dam: Euphrates (storage capacity, in m3 000s) 14,100,000 Average temperature (in centigrade) 18-22 Average humidity rate 46%-68% Annual precipitation (in mm) 102-1,128 Number of rainy days per year 35-92 68% Demography Population (in million) 20.4 Population growth rate 2.0% Population under 15 years (% of total population) 36.4% Population density (per sqkm) 110 Urban population (% of total population) 54.0% Adult literacy rate 79.6% Life expectancy at birth 74.2 Infant mortality rate (per 1,000 live births) 17 Human Development Index (UNDP) 0.716

Land use (in hectares 000s) Cultivable lands 6,039 o.w. irrigated 1,396 o.w. non-irrigated 3,341 o.w. fallow 845 o.w. uncultivated 362 Uncultivable lands 3,677 Steppe and pastures 8,290 Forests 601

Infrastructure (in km) Road length 51,967 Railway length 2,833 Airports : , , Bassel-Al-Assad, Deir-ez-Zor, Al-Kamishli Ports : Lattakia, Banias, Tartous, Arwad

General Currency : Syrian Pound Official language : Number of cities 111 Number of villages 6,309 Number of mohafazats 14

Facts & Figures 66.5x19 new.indd 6 6/16/10 10:28 AM 2007 2008 2009 Macroeconomic Indicators* Nominal GDP (SP billion) 2,025 2,535 2,437 o.w. non-oil 1,558 1,896 2,037 GDP per capita (SP 000s) 104.4 127.5 119.7 GDP deflator 13.7 19.0 -7.5

Real GDP growth rate (%) 4.3% 5.2% 4.0% o.w. oil -4.8% 0.0% 0.2% o.w. non-oil 5.8% 6.0% 4.5% National Accounts (US$ billion)** Nominal GDP* 40.6 54.5 52.5 Imports 12.3 16.0 13.1 Exports 11.8 14.0 10.1 Total supply = Total demand 52.8 70.5 65.6 Oil production (000 b/d) 380 387 368

Expenditure on GDP (% real change) Private consumption 2.1 5.4 2.2 Public consumption 23.6 2.4 2.0 Gross fixed investment 7.9 5.8 -1.0

* As per IMF figures ** As per EIU figures Crude Oil Production (barrels/day) Company Syrian Petroleum Company - 186,636 200,783 Al Furat Petroleum Company - 118,789 103,481 Deir ez-Zor Petroleum Company - 29,612 27,555 SIPC-Syria - 11,458 14,230 Dajleh Petroleum Company - 3,775 12,305 Kawkab Petroleum Company - 8,338 9,954 Syrian Gas Company - 5,541 6,017 Hayan Petroleum Company - 2,374 2,594

Total - 376,525 376,920 Tourism Number of arrivals (in millions) - 5.43 6.09 o.w. Arab countries - 3.30 3.50 o.w. Non-GCC countries - 2.65 2.74 o.w. GCC countries - 0.65 0.76 o.w. non-Arab countries - 1.13 1.40 o.w. - 0.61 0.77 o.w. Others - 0.39 0.42

Nights spent at hotels (000s) - 800,722 936,845 Tourists spending (SP billion) - 200 242 Communications Main fixed telephone lines per 100 people 16.8 17.1 - Mobile cellular subscriptions per 100 people 30.4 33.2 - Proportion of households with internet 30.0 31.2 - Proportion of households with computer 35.0 38.5 - International internet bandwidth Bit/s per internet user 304 589 -

Facts & Figures 66.5x19 new.indd 5 6/16/10 10:28 AM 2007 2008 2009 Transport Aicrafts at Syrian airports 40,849 50,594 52,969 Passengers transported by Syrian airlines (000s) 1,272 1,028 738 Merchandise transported by Syrian airlines (tons) 4,297 3,383 1,622

Vessels at Syrian ports* 4,154 4,156 4,602 Merchandise at Syrian ports* (tons 000s) 20,405 21,001 23,468

Passengers transported by buses (000s) 97,082 128,131 167,425 Passengers transported by (000s) 2,492 3,365 3,656 Merchandise transported by Syrian railways (tons 000s) 9,450 9,307 8,842 Vehicules in Syria (000s) 1,389 1,555 1,753

* Tartous and Lattakia

Foreign Trade** (US$ million) Foreign trade 24,033 29,960 23,244 Imports 12,277 15,978 13,111 Exports 11,756 13,982 10,133 Trade balance -521 -1,996 -2,978 Exports/Imports 95.8% 87.5% 77.3%

** As per EIU figures

Exports to Main Trade Partners 5.2% 16.7% - 1.3% 10.7% - 3.0% 8.8% - Italy 21.8% 7.8% - 9.8% 6.8% - 10.6% 6.7% - 3.5% 4.8% - 4.8% 4.2% - 4.2% 3.0% -

Imports from Main Trade Partners 9.7% 13.0% - China 7.9% 10.9% - Ukraine 5.8% 9.8% - Malta 5.0% 7.9% - Italy 6.7% 4.7% - Saudi Arabia 5.5% 3.7% - Egypt 4.3% 3.4% - South 4.6% 3.3% - Turkey 4.1% 2.8% -

Facts & Figures 66.5x19 new.indd 4 6/16/10 10:28 AM 2007 2008 2009 Balance of Payments (US$ million)* Services balance 849 1,051 1,388 Income balance -689 -718 -641 Current transfers balance 820 976 806 Current account balance 459 -687 -1,426 Current account balance/GDP 1.1% -1.3% -2.7%

* As per EIU figures

Public Finance (US$ billion)** Revenues 9.2 10.6 11.5 o.w. oil revenues 2.0 2.8 2.4 o.w. non-oil revenues 7.2 7.7 9.1 Expenditures 10.8 12.0 14.3 o.w. current expenditures 6.9 8.3 8.7 o.w. development expenditures 3.9 3.7 5.4 Fiscal balance -1.6 -1.5 -2.9

Total gross external debt 5.9 5.7 6.1 Total government debt 16.4 16.4 16.8

Total revenues/Total expenditures 85.2% 88.0% 80.2% Budget balance/Total expenditures -15.0% -12.7% -20.1% Budget balance/GDP -4.0% -2.8% -5.5%

Fiscal balance/GDP -4.0% -2.8% -5.5% Total gross external debt/GDP 14.5% 10.4% 11.7% Total government debt/GDP 40.5% 30.1% 32.0%

** 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 Syria 575 886 3,542 Al-Ahliah Vegetable Oil Company 550 694 2,082 United 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% FC credit facilities/Total credit facilities to the private sector 4.6% 6.7% 6.6% 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% 2.8%

CPI by category Foodstuff 8.8% 20.3% 0.7% Clothes and shoes 1.7% 8.5% -2.4% House equipments 0.9% 13.4% 7.1% Health -1.7% 6.2% 3.3% Transportation 0.9% 36.0% 13.2% Communication -3.1% -6.3% 1.1% Education 3.6% 5.3% 12.5% Hotels and restaurants 2.8% 9.9% 13.1%

Foreign currency exchange rate (SP/$) 50.0 46.5 45.7

Facts & Figures 66.5x19 new.indd 2 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 Mohafaza Bldg., Youssef Al-Azmeh Square. (Main Branch) 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

H arasTA 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 Baghdad Station, Majd Al-Deen Al-Jabri Street, Al Aziziyah. (Main Branch) 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 Al Muhwari Street. Tel: (963-16) 228146. Fax (963-16) 228137.

Facts & Figures 66.5x19 new.indd 10 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, 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

- 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 6/16/10 10:28 AM 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. 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

- 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

Facts & Figures 66.5x19 new.indd 12 6/16/10 10:28 AM