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Commercial International Bank (Egypt) S.A.E. |
Consolidated 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 & Due From Central Bank |
15 |
5,393,974,124 |
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7,492,064,510 |
Due From Banks |
16 |
8,047,820,388 |
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8,528,229,519 |
Treasury Bills & Other Governmental Notes |
17 |
8,017,754,432 |
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9,260,842,183 |
Trading Financial Assets |
18 |
1,515,325,502 |
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675,325,450 |
Loans & Advances to Banks |
19 |
1,178,867,739 |
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1,395,594,609 |
Loans & Advances to Customers |
20 |
40,698,313,773 |
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39,669,785,864 |
Derivative Financial Instruments |
21 |
137,459,761 |
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146,544,656 |
Financial Investments |
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Available for Sale |
22 |
21,177,427,597 |
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15,421,546,277 |
Held to Maturity |
22 |
4,215,787,960 |
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39,159,520 |
Investments in Associates |
23 |
165,198,634 |
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106,676,167 |
Brokers-Debit Balances |
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134,944,510 |
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24,185,525 |
Reconciliation Accounts- Debit Balances |
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0 |
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42,507,905 |
Investment Property |
24 |
10,395,686 |
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12,774,686 |
Other Assets |
25 |
2,474,945,065 |
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1,534,819,491 |
Goodwill |
40 |
0 |
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120,280,337 |
Intangible Assets |
40 |
33,422,415 |
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309,353,104 |
Deferred Tax |
33 |
129,356,874 |
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96,018,092 |
Property, Plant and Equipment |
26 |
683,455,846 |
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630,508,089 |
Total Assets |
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94,014,450,306 |
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85,506,215,984 |
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Liabilities & Shareholders' 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 Customer |
28 |
78,729,121,488 |
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71,467,935,259 |
Brokers-Credit Balance |
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124,759,011 |
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111,851,855 |
Reconciliation Accounts-Credit Balances |
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1,664,718 |
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0 |
Derivative Financial Instruments |
21 |
119,099,260 |
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114,287,990 |
Other Liabilities |
30 |
2,059,005,013 |
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1,342,736,040 |
Long Term Loans |
29 |
80,495,238 |
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99,333,376 |
Other Provisions |
31 |
315,488,382 |
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270,801,909 |
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Total Liabilities |
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83,144,495,826 |
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76,747,740,946 |
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Equity |
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Issued and Paid In Capital |
32 |
5,972,275,410 |
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5,934,562,990 |
Reserves |
32 |
2,970,163,921 |
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1,387,842,060 |
Reserve for Employee Stock Ownership Plan (ESOP) |
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164,761,121 |
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137,354,418 |
Retained Earnings |
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(510,946,406) |
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(362,379,298) |
Total Equity |
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8,596,254,046 |
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7,097,380,170 |
Net Profit of the Year After Tax |
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2,226,180,503 |
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1,614,738,322 |
Total Equity And Net Profit For Year |
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10,822,434,549 |
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8,712,118,492 |
Minority Interest |
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47,519,931 |
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46,356,546 |
Total Minority Interest and Equity and Net Profit For Period/year |
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10,869,954,480 |
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8,758,475,038 |
Total Liabilities, Equity and Minority Interest |
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94,014,450,306 |
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85,506,215,984 |
Contingent Liabilities and Commitments |
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Letters of Credit, Guarantees and Other Commitments |
37 |
14,897,739,005 |
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12,559,553,516 |
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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7,859,311,839 |
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5,470,990,831 |
Interest and Similar Expenses |
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(3,945,685,636) |
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(2,781,039,268) |
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Net Interest Income |
6 |
3,913,626,203 |
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2,689,951,563 |
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Fees & Commissions Income |
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1,033,628,014 |
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930,569,533 |
Fees and Commissions Expense |
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(107,365,742) |
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(87,622,734) |
Net Income from Fees and Commissions |
7 |
926,262,272 |
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842,946,799 |
Dividend Income |
8 |
33,110,823 |
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61,506,980 |
Net Trading Income |
9 |
574,575,176 |
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381,692,480 |
Profit from Financial Investments |
22 |
(26,909,306) |
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38,669,156 |
Goodwill Amortization |
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(10,426,511) |
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(40,093,445) |
Administrative Expenses |
10 |
(1,559,401,781) |
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(1,449,718,695) |
Other operating (Expenses) Income |
11 |
(103,307,092) |
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(72,539,394) |
Impairment Charge for Credit Loans |
12 |
(609,971,077) |
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(320,648,863) |
Intangible Assets Amortization |
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(82,990,084) |
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(67,467,240) |
Bank's Share in the Profits of Associates |
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26,348,545 |
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(7,859,808) |
Net Profit Before Tax |
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3,080,917,168 |
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2,056,439,533 |
Income Tax Expense |
13 |
(887,265,476) |
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(448,586,285) |
Deferred Tax |
13 & 33 |
33,338,781 |
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6,374,868 |
Net Profit of The Year |
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2,226,990,473 |
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1,614,228,116 |
Minority Interest |
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809,970 |
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(510,206) |
Bank Shareholders |
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2,226,180,503 |
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1,614,738,322 |
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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3,080,917,168 |
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2,056,439,533 |
Adjustments To Reconcile Net Profit |
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To Net Cash Provided by Operating Activities |
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Depreciation |
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168,382,905 |
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188,125,507 |
Impairment Charge For Credit losses |
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610,226,923 |
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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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(86,425,026) |
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49,692,862 |
Intangible Assets Amortization |
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82,990,084 |
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67,467,240 |
Goodwill Amortization |
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10,426,511 |
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40,093,445 |
Available for Sale and held to Maturity Investments exchange revaluation Difference |
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(60,242,239) |
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(60,380,784) |
Financial Investments Impairment Charge (Release) |
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8,033,536 |
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(373,389) |
Utilization of Other Provisions |
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(13,886,192) |
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(4,068,833) |
Other Provisions No Longer Used |
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(531,054) |
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(50,567,704) |
Exchange Differences of Other Provisions |
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7,230,941 |
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2,329,620 |
Profits From Selling Property, Plants 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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(100,273,310) |
Losses from Selling Associates |
0 |
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(1,873,813) |
Exchange Differences of Long Term Loans |
0 |
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164,819 |
Share Based Payments |
79,068,829 |
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77,459,887 |
Investments in Associates Revaluation |
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0 |
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7,151,567 |
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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3,934,431,723 |
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2,595,564,090 |
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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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(1,851,562,990) |
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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(753,475,026) |
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860,729,523 |
Derivative Financial Instruments |
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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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(1,015,446,313) |
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21,744,773 |
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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7,261,186,229 |
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8,103,757,981 |
Other Liabilities |
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(156,424,620) |
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(560,452,284) |
Net Cash Provided from Operating Activities |
7,516,448,844 |
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3,239,381,517 |
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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 Associates |
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(58,522,467) |
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(18,000,000) |
Proceeds from Selling Associates |
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0 |
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1,000,000 |
Purchase of Property, Plant and Equipment |
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(211,873,420) |
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(157,632,289) |
Redemption of Held-to-Maturity Financial Investments |
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0 |
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270,207,161 |
Purchases of Held to Maturity Financial Investment |
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(4,176,628,441) |
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(5,000,000) |
Purchases of Available for Sale Financial Investments |
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(10,169,757,165) |
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(4,536,303,691) |
Proceeds from Selling Available For Sale Financial Investments |
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5,343,312,219 |
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2,181,457,020 |
Proceeds from 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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(9,270,719,274) |
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(2,248,750,821) |
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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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(29,944,868) |
Dividend Paid |
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(806,206,518) |
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(844,414,580) |
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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(787,332,236) |
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(841,240,058) |
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Net Increase (Decrease) in Cash and Cash Equivalent |
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(2,541,602,666) |
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149,390,638 |
Beginning Balance of Cash and Cash Equivalent |
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8,207,517,133 |
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8,058,126,497 |
Cash & Cash Equivalent Balance At the End of the Year |
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5,665,914,467 |
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8,207,517,135 |
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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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8,047,820,388 |
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8,528,229,519 |
Treasury Bills and Other Governmental Notes |
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8,017,754,432 |
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9,260,842,183 |
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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(4,637,273,016) |
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(5,237,471,783) |
Treasury Bills With Maturity More than Three months |
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(8,063,078,262) |
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(8,821,367,483) |
Total Cash & Cash Equivalent |
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5,665,914,467 |
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8,207,517,135 |
