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Commercial International Bank (Egypt) S.A.E. |
Unconsolidated Financial Statements |
December 31, 2012 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
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As of Dec. 31, 2012 |
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Amounts in EGP. |
Note |
Dec. 31 ,2012 |
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Dec.31, 2011 |
Assets |
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Cash and Due with Central Bank |
15 |
5,393,974,124 |
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7,492,064,510 |
Due From Banks |
16 |
7,957,710,034 |
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8,449,298,705 |
Treasury Bills and Other Governmental Notes |
17 |
7,978,030,413 |
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9,213,390,067 |
Trading Financial Assets |
18 |
1,472,281,763 |
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561,084,273 |
Loans and Advances to Banks |
19 |
1,178,867,739 |
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1,395,594,609 |
Loans and Advances to Customers |
20 |
40,698,313,773 |
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39,669,785,864 |
Derivative Financial Investments |
21 |
137,459,761 |
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146,544,656 |
Financial Investments |
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Available for Sale |
22 |
21,161,884,032 |
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15,412,566,069 |
Held to Maturity |
22 |
4,205,753,328 |
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29,092,920 |
Investments in Subsidiary and Associates |
23 |
938,033,700 |
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995,595,778 |
Investment Property |
24 |
10,395,686 |
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12,774,686 |
Other Assets |
25 |
2,459,025,844 |
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1,518,509,876 |
Deferred Tax |
33 |
129,133,209 |
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95,141,726 |
Property, Plant and Equipment |
26 |
684,527,896 |
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636,775,294 |
Total Assets |
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94,405,391,302 |
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85,628,219,033 |
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Liabilities and Equity |
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Liabilities |
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Due to Banks |
27 |
1,714,862,716 |
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3,340,794,517 |
Due to Customers |
28 |
78,834,726,890 |
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71,574,047,530 |
Derivative Financial Instruments |
21 |
119,099,260 |
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114,287,990 |
Other Liabilities |
30 |
2,034,351,571 |
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1,313,785,436 |
Long Term Loans |
29 |
80,495,238 |
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99,333,376 |
Other Provisions |
31 |
310,648,113 |
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264,625,909 |
Total Liabilities |
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83,094,183,788 |
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76,706,874,758 |
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Equity |
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Issued & Paid- in Capital |
32 |
5,972,275,410 |
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5,934,562,990 |
Reserves |
32 |
2,970,458,093 |
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1,085,472,868 |
Reserve for Employee Stock Ownership Plan (ESOP) |
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164,761,121 |
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137,354,419 |
Retained Earnings |
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1,001,979 |
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15,105,920 |
Total Equity |
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9,108,496,603 |
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7,172,496,197 |
Net Profit of the Year After Tax |
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2,202,710,911 |
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1,748,848,078 |
Total Equity and Net Profit for the Year |
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11,311,207,514 |
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8,921,344,275 |
Total Liabilities and Equity |
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94,405,391,302 |
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85,628,219,033 |
Contingent Liabilities and Commitments |
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Letters of Credit, Guarantees and other commitments |
37 |
14,897,789,005 |
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12,559,603,516 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
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As of Dec. 31, 2012 |
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Amounts in EGP. |
Note |
Dec.31, 2012 |
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Dec. 31, 2011 |
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Interest and Similar Income |
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7,845,913,494 |
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5,459,248,277 |
Interest and Similar Expense |
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(3,945,237,550) |
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(2,780,703,161) |
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Net Interest Income |
6 |
3,900,675,944 |
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2,678,545,116 |
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Fee and Commissions Income |
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942,867,320 |
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865,620,940 |
Fee and Commissions Expense |
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(107,365,742) |
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(87,451,431) |
Net Income from Fees and Commissions |
7 |
835,501,578 |
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778,169,509 |
Dividend Income |
8 |
32,234,196 |
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59,921,078 |
Net Trading Income |
9 |
565,727,965 |
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368,912,520 |
Profit from Financial Investments |
22 |
(116,514,246) |
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19,799,495 |
Administrative Expenses |
10 |
(1,444,645,467) |
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(1,336,701,608) |
Other Operating (Expenses) Income |
11 |
(109,790,791) |
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(68,220,065) |
Impairment Charge for Credit Loses |
12 |
(609,971,077) |
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(320,648,863) |
Net Profit before Tax |
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3,053,218,102 |
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2,179,777,182 |
Income Tax Expense |
13 |
(884,498,673) |
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(446,414,136) |
Deferred Tax |
13 and 33 |
33,991,482 |
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15,485,032 |
Net Profit of the Year |
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2,202,710,911 |
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1,748,848,078 |
Earning per share |
14 |
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Basic |
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3.53 |
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2.43 |
Diluted |
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3.47 |
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2.39 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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As of Dec. 31, 2012 |
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Amounts in EGP. |
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Dec. 31, 2012 |
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Dec. 31, 2011 |
Cash Flow From Operating Activities |
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Net Profit Before Tax |
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3,053,218,102 |
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2,179,777,182 |
Adjustments To Reconcile Net Profit to Net Cash |
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Provided by Operating Activities |
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Depreciation |
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167,225,901 |
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185,074,214 |
Assets Impairment Charges |
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609,971,078 |
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322,276,483 |
Other Provisions Charges |
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51,616,933 |
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4,217,707 |
Trading Financial Investment Revaluation Differences |
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(78,642,848) |
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61,887,578 |
Available For Sale And Held to Maturity investments exchange revaluation differences |
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(60,242,239) |
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(60,380,784) |
Financial Investments Impairment Charge (Release) |
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7,902,478 |
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58,080,987 |
Utilization of Other Provisions |
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(12,294,615) |
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(3,412,238) |
Other Provisions No Longer Used |
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(531,054) |
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(48,748,110) |
Exchange Differences of Other Provisions |
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7,230,941 |
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2,329,620 |
Profits From Selling Property, Plant and Equipment |
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(2,387,583) |
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(2,716,747) |
Profits From Selling Financial Investments |
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(519,013) |
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(37,608,880) |
Profits from Selling Associates |
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0 |
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(1,873,813) |
Exchange Difference of Long Term Loans |
0 |
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164,818 |
Share Based Payments |
79,068,829 |
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77,459,887 |
Investments in Subsidiary and Associates Revaluation |
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89,736,000 |
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18,430,000 |
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Real Estate Investments Impairment Charges |
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(371,000) |
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400,000 |
Operating Profits Before Changes in Operating Assets and Liabilities |
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3,910,981,910 |
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2,639,195,930 |
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Net Decrease (Increase) in Assets and Liabilities |
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Due from banks |
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521,695,379 |
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(1,857,455,963) |
Treasury Bills & Other Governmental Notes |
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758,289,224 |
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(1,729,254,403) |
Trading Financial Assets |
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(832,554,642) |
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799,066,990 |
Derivative Financial Instrument |
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13,896,165 |
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(6,543,758) |
Loans and Advances to Banks and Customers |
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(1,421,772,116) |
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(6,213,116,023) |
Other Assets |
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(948,385,056) |
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(92,518,310) |
Due to Banks |
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1,625,931,801 |
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2,018,514,608 |
Due to Customers |
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7,260,679,360 |
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8,094,163,906 |
Other Liabilities |
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(163,932,540) |
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(261,547,906) |
Net Cash Provided from Operating Activities |
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7,472,965,883 |
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3,390,505,071 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
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As of Dec. 31, 2012 |
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Dec. 31, 2012 |
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Dec. 31, 2011 |
Cash Flow From Investing Activities |
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Purchase of Subsidiary and Associates |
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(32,173,922) |
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(16,834,427) |
Proceeds from Selling Subsidiary and Associates |
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- |
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1,000,000 |
Purchases of Property, Plant and Equipment |
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(204,721,832) |
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(153,108,029) |
Redemption of Held-to-Maturity Financial Investments |
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- |
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271,802,813 |
Purchases of Held to Maturity Financial Investments |
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(4,176,660,408) |
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(5,000,000) |
Purchases of Available for Sale Financial Investments |
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(10,163,193,809) |
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(4,535,816,259) |
Proceeds from Selling Available for Sale Financial Investments |
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5,343,312,220 |
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2,172,867,695 |
Proceeds from Selling Real Estate Investments |
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2,750,000 |
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15,520,978 |
Net Cash Generated from (Used in) Investing Activities |
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(9,230,687,751) |
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(2,249,567,229) |
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Cash Flow From Financing Activities |
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Increase (Decrease) in Long Term Loans |
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(18,838,138) |
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(29,944,867) |
Dividends Paid |
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(806,206,521) |
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(841,922,204) |
Capital Increase |
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37,712,420 |
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33,119,390 |
Net Cash Generated from (Used in) Financing Activities |
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(787,332,239) |
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(838,747,681) |
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Net Increase (Decrease) in Cash and Cash Equivalent |
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(2,545,054,107) |
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302,190,161 |
Beginning Balance of Cash and Cash Equivalent |
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8,081,134,203 |
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7,778,944,041 |
Cash and Cash Equivalent Balance At the End of the Year |
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5,536,080,096 |
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8,081,134,202 |
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Cash & Cash Equivalent Comprise |
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Cash and Balances with Central Bank |
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5,393,974,124 |
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7,492,064,510 |
Due From Banks |
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7,957,710,034 |
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8,449,298,705 |
Treasury Bills and Other Governmental Notes |
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7,978,030,413 |
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9,213,390,067 |
Obligatory Reserve Balance With CBE |
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(3,093,283,199) |
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(3,014,779,811) |
Due from Banks (Time Deposits) More than Three Months |
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(4,637,273,015) |
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(5,237,471,784) |
Treasury Bills with Maturity More than Three Months |
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(8,063,078,261) |
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(8,821,367,485) |
Total Cash & Cash Equivalent |
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5,536,080,096 |
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8,081,134,202 |
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