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Commercial International Bank (Egypt) S.A.E. |
Unconsolidated Financial Statements |
June 30, 2013 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
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As of June 30, 2013 |
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Amounts in EGP. |
Note |
June 30, 2013 |
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Dec. 31 ,2012 |
Assets |
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Cash and Due with Central Bank |
15 |
6,417,883,889 |
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5,393,974,124 |
Due From Banks |
16 |
9,808,438,509 |
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7,957,710,034 |
Treasury Bills and Other Governmental Notes |
17 |
17,772,315,963 |
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7,978,030,413 |
Trading Financial Assets |
18 |
1,767,030,846 |
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1,472,281,763 |
Loans and Advances to Banks |
19 |
118,736,640 |
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1,178,867,739 |
Loans and Advances to Customers |
20 |
42,445,725,873 |
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40,698,313,773 |
Derivative Financial Investments |
21 |
80,138,385 |
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137,459,761 |
Financial Investments |
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Available for Sale |
22 |
19,003,918,550 |
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21,161,884,032 |
Held to Maturity |
22 |
4,193,893,702 |
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4,205,753,328 |
Investments in Subsidiary and Associates |
23 |
949,599,840 |
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938,033,700 |
Investment Property |
24 |
9,695,686 |
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10,395,686 |
Other Assets |
25 |
2,600,949,490 |
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2,459,025,844 |
Deferred Tax |
33 |
133,524,069 |
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129,133,209 |
Property, Plant and Equipment |
26 |
837,368,544 |
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684,527,896 |
Total Assets |
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106,139,219,986 |
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94,405,391,302 |
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Liabilities and Equity |
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Liabilities |
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Due to Banks |
27 |
953,508,142 |
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1,714,862,716 |
Due to Customers |
28 |
91,288,133,619 |
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78,834,726,890 |
Derivative Financial Instruments |
21 |
86,538,114 |
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119,099,260 |
Other Liabilities |
30 |
2,068,011,420 |
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2,034,351,571 |
Long Term Loans |
29 |
117,795,397 |
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80,495,238 |
Other Provisions |
31 |
394,126,748 |
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310,648,113 |
Total Liabilities |
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94,908,113,440 |
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83,094,183,788 |
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Equity |
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Issued & Paid- in Capital |
32 |
6,001,623,790 |
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5,972,275,410 |
Reserves |
32 |
3,756,529,602 |
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2,970,458,093 |
Reserve for Employee Stock Ownership Plan (ESOP) |
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149,002,252 |
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164,761,121 |
Retained Earnings |
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- |
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1,001,979 |
Total Equity |
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9,907,155,644 |
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9,108,496,603 |
Net Profit of the Period/Year After Tax |
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1,323,950,902 |
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2,202,710,911 |
Total Equity and Net Profit for the Period/Year |
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11,231,106,546 |
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11,311,207,514 |
Total Liabilities and Equity |
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106,139,219,986 |
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94,405,391,302 |
Contingent Liabilities and Commitments |
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Letters of Credit, Guarantees and other commitments |
37 |
15,834,465,580 |
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14,897,789,005 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
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As of June 30, 2013 |
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Amounts in EGP. |
Note |
June 30, 2013 |
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June 30, 2012 |
Interest and Similar Income |
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4,503,577,501 |
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3,595,247,156 |
Interest and Similar Expense |
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(2,097,760,076) |
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(1,801,001,713) |
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Net Interest Income |
6 |
2,405,817,425 |
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1,794,245,443 |
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Fee and Commissions Income |
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668,595,343 |
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435,644,889 |
Fee and Commissions Expense |
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(63,131,885) |
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(47,766,855) |
Net Income from Fees and Commissions |
7 |
605,463,458 |
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387,878,034 |
Dividend Income |
8 |
12,274,522 |
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21,744,400 |
Net Trading Income |
9 |
375,678,042 |
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201,385,483 |
Profit from Financial Investments |
22 |
2,214,021 |
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(23,195,737) |
Administrative Expenses |
10 |
(878,233,268) |
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(701,569,640) |
Other Operating (Expenses) Income |
11 |
(41,714,369) |
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(57,626,545) |
Impairment Charge for Credit Losses |
12 |
(490,785,133) |
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(159,244,620) |
Net Profit before Tax |
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1,990,714,698 |
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1,463,616,818 |
Income Tax Expense |
13 |
(671,154,656) |
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(427,623,435) |
Deferred Tax |
33 & 13 |
4,390,860 |
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11,652,967 |
Net Profit of the Period |
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1,323,950,902 |
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1,047,646,350 |
Earning per share |
14 |
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Basic |
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1.97 |
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1.77 |
Diluted |
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1.94 |
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1.74 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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As of June 30, 2013 |
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Amounts in EGP. |
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June 30, 2013 |
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June 30, 2012 |
Cash Flow From Operating Activities |
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Net Profit Before Tax |
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1,990,714,698 |
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1,463,616,818 |
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities |
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Depreciation |
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90,273,799 |
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83,198,082 |
Assets Impairment Charges |
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490,785,133 |
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159,244,620 |
Other Provisions Charges |
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69,071,603 |
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86,724,165 |
Trading Financial Investment Revaluation Differences |
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(1,316,714) |
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(24,186,619) |
Available for sale and held to maturity investments exchange revaluation differences |
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(136,563,408) |
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(6,075,233) |
Financial Investments Impairment Charge (Release) |
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(31,266,724) |
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16,662,686 |
Utilization of Other Provisions |
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(978,083) |
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(71,749,072) |
Other Provisions No Longer Used |
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(141,520) |
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(531,054) |
Exchange Differences of Other Provisions |
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15,526,634 |
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(711,571) |
Profits From Selling Property, Plant and Equipment |
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(495,294) |
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(1,633,796) |
Profits From Selling Financial Investments |
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(2,228,843) |
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(8,421,272) |
Exchange Difference of Long Term Loans |
- |
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(20,812) |
Share Based Payments |
47,923,358 |
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44,135,782 |
Investments in Subsidiary and Associates Revaluation |
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(4,038,840) |
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- |
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Operating Profits Before Changes in Operating Assets and Liabilities |
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2,527,265,799 |
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1,740,252,724 |
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Net Decrease (Increase) in Assets and Liabilities |
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Due from banks |
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(1,826,250,534) |
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(962,139,101) |
Treasury Bills & Other Governmental Notes |
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(6,760,815,159) |
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(1,601,411,260) |
Trading Financial Assets |
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(293,432,368) |
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(704,495,221) |
Derivative Financial Instruments |
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24,760,230 |
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28,057,118 |
Loans and Advances to Banks and Customers |
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(1,178,066,134) |
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135,430,874 |
Other Assets |
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(17,542,388) |
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(708,987,508) |
Due to Banks |
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(761,354,574) |
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(1,555,779,809) |
Due to Customers |
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12,453,406,729 |
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5,227,605,274 |
Other Liabilities |
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(637,494,806) |
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(312,906,688) |
Net Cash Provided from Operating Activities |
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3,530,476,795 |
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1,285,626,403 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
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As of June 30, 2013 |
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June 30, 2013 |
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June 30, 2012 |
Cash Flow From Investing Activities |
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Purchase of Subsidiary and Associates |
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(7,527,300) |
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(16,625,622) |
Purchases of Property, Plant and Equipment |
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(367,000,411) |
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(106,448,191) |
Redemption of Held-to-Maturity Financial Investments |
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11,859,626 |
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- |
Purchases of Held to Maturity Financial Investments |
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- |
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(3,634,146,232) |
Purchases of Available for Sale Financial Investments |
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(778,731,294) |
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(4,841,916,012) |
Proceeds from Selling Available for Sale Financial Investments |
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2,681,275,310 |
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4,989,109,038 |
Proceeds from Selling Real Estate Investments |
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700,000 |
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2,750,000 |
Net Cash Generated from (Used in) Investing Activities |
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1,540,575,931 |
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(3,607,277,019) |
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Cash Flow From Financing Activities |
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Increase (Decrease) in Long Term Loans |
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37,300,159 |
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(8,237,604) |
Dividend Paid |
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(1,055,843,165) |
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(806,206,521) |
Capital Increase |
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29,348,380 |
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37,712,420 |
Net Cash Generated from (Used in) Financing Activities |
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(989,194,626) |
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(776,731,705) |
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Net Increase (Decrease) in Cash and Cash Equivalent |
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4,081,858,100 |
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(3,098,382,322) |
Beginning Balance of Cash and Cash Equivalent |
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5,536,080,094 |
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8,081,134,203 |
Cash and Cash Equivalent Balance At the End of the Period |
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9,617,938,194 |
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4,982,751,881 |
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Cash & Cash Equivalent Comprise |
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Cash and Balances with Central Bank |
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6,417,883,889 |
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5,542,320,904 |
Due From Banks |
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9,808,438,509 |
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9,711,796,359 |
Treasury Bills and Other Governmental Notes |
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17,772,315,963 |
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9,365,804,058 |
Obligatory Reserve Balance With CBE |
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(3,284,941,291) |
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(3,028,051,899) |
Due from Banks (Time Deposits) More than Three Months |
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(6,271,865,456) |
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(6,186,338,796) |
Treasury Bills with Maturity More than Three Months |
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(14,823,893,420) |
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(10,422,778,745) |
Total Cash & Cash Equivalent |
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9,617,938,194 |
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4,982,751,881 |
