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Commercial International Bank (Egypt) S.A.E. |
Consolidated Financial Statements |
September 30, 2013 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
|
|
|
|
As of September 30, 2013 |
|
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|
|
Amounts in EGP |
Note |
Sep. 30, 2013 |
|
Dec. 31, 2012 |
Assets |
|
|
|
|
|
|
|
|
|
Cash & Balances with Central Bank |
15 |
3,956,053,666 |
|
5,393,974,124 |
Due From Banks |
16 |
9,101,879,265 |
|
8,047,820,388 |
Treasury Bills & Other Governmental Notes |
17 |
21,734,857,255 |
|
8,017,754,432 |
Trading Financial Assets |
18 |
2,185,341,436 |
|
1,515,325,502 |
Loans & Advances to Banks |
19 |
166,406,169 |
|
1,178,867,739 |
Loans & Advances to Customers |
20 |
41,688,854,369 |
|
40,698,313,773 |
Derivative Financial Instruments |
21 |
85,311,981 |
|
137,459,761 |
Financial Investments |
|
|
|
|
Available for Sale |
22 |
22,048,708,596 |
|
21,177,427,597 |
Held to Maturity |
22 |
4,201,625,227 |
|
4,215,787,960 |
Investments in Associates |
23 |
189,034,537 |
|
165,198,634 |
Brokers clients-Debit Balances |
|
257,863,654 |
|
134,944,510 |
Investment Property |
24 |
9,695,686 |
|
10,395,686 |
Other Assets |
25 |
2,652,421,289 |
|
2,474,945,065 |
Intangible Assets |
40 |
- |
|
33,422,415 |
Deferred Tax |
33 |
84,883,875 |
|
71,450,183 |
Property, Plant and Equipment |
26 |
845,807,821 |
|
683,455,846 |
Total Assets |
|
109,208,744,826 |
|
93,956,543,615 |
|
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|
Liabilities and Equity |
|
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|
Liabilities |
|
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|
Due to Banks |
27 |
632,092,420 |
|
1,714,862,716 |
Due to Customers |
28 |
94,079,451,835 |
|
78,729,121,488 |
Brokerage clients-Credit Balance |
|
185,813,358 |
|
124,759,011 |
Reconciliation accounts-credit balances |
|
23,027,468 |
|
1,664,718 |
Derivative Financial Instruments |
21 |
97,920,747 |
|
119,099,260 |
Other Liabilities |
30 |
2,248,614,160 |
|
2,059,005,013 |
Long Term Loans |
29 |
110,105,397 |
|
80,495,238 |
Other Provisions |
31 |
380,598,807 |
|
315,488,382 |
|
|
97,757,624,192 |
|
83,144,495,826 |
Total Liabilities |
|
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
Issued and Paid In Capital |
32 |
6,001,623,790 |
|
5,972,275,410 |
Reserves |
32 |
3,526,002,033 |
|
2,970,163,921 |
Reserve for Employee Stock Ownership Plan (ESOP) |
|
172,963,930 |
|
164,761,121 |
Retained Earnings |
|
(546,517,847) |
|
(568,853,097) |
Total Equity |
|
9,154,071,906 |
|
8,538,347,355 |
Net Profit of the Period/Year After Tax |
|
2,249,202,041 |
|
2,226,180,503 |
Total Equity And Net Profit For Period/Year |
|
11,403,273,947 |
|
10,746,527,858 |
Minority Interest |
|
47,846,687 |
|
47,519,931 |
Total Minority Interest and Equity |
|
11,451,120,634 |
|
10,812,047,789 |
Total Liabilities, Equity and Minority Interest |
|
109,208,744,826 |
|
93,956,543,615 |
Contingent Liabilities and Commitments |
|
|
|
|
Letters of Credit, Guarantees and Other Commitments |
37 |
14,633,861,073 |
|
14,897,739,005 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
|
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|
As of September 30, 2013 |
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Amounts in EGP. |
Note |
Sep. 30, 2013 |
|
Sep. 30, 2012 |
|
|
|
|
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Interest and Similar Income |
|
6,972,030,784 |
|
5,709,924,331 |
Interest and Similar Expenses |
|
(3,281,023,485) |
|
(2,878,602,209) |
|
|
|
|
|
Net Interest Income |
6 |
3,691,007,299 |
|
2,831,322,122 |
|
|
|
|
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Fees & Commissions Income |
|
1,067,166,670 |
|
737,746,221 |
Fees and Commissions Expense |
|
(93,749,393) |
|
(76,765,133) |
Net Income from Fees and Commissions |
7 |
973,417,277 |
|
660,981,088 |
Dividend Income |
8 |
21,416,442 |
|
22,704,086 |
Net Trading Income |
9 |
577,456,537 |
|
418,171,996 |
Profit from Financial Investments |
22 |
3,601,560 |
|
(29,687,230) |
Goodwill Amortization |
|
- |
|
(2,606,628) |
Administrative Expenses |
10 |
(1,376,087,829) |
|
(1,124,726,722) |
Other operating (Expenses) Income |
11 |
(43,278,642) |
|
(74,848,809) |
Impairment Charge for Credit Losses |
12 |
(565,928,409) |
|
(406,580,325) |
Intangible Assets Amortization |
|
(33,422,415) |
|
(19,049,318) |
Bank's Share in the Profits of Associates |
|
13,017,393 |
|
1,107,855 |
Net Profit Before Tax |
|
3,261,199,213 |
|
2,276,788,115 |
Income Tax Expense |
13 |
(1,025,136,247) |
|
(654,358,417) |
Deferred Tax |
33 & 13 |
13,461,774 |
|
17,342,735 |
Net Profit of The Year |
|
2,249,524,740 |
|
1,639,772,433 |
Minority Interest |
|
322,699 |
|
1,197,962 |
Bank Shareholders |
|
2,249,202,041 |
|
1,638,574,471 |
Earning per share |
14 |
|
|
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Basic |
|
3.05 |
|
2.71 |
Diluted |
|
2.99 |
|
2.67 |
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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As of September 30, 2013 |
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|
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Amounts in EGP. |
|
Sep. 30, 2013 |
|
Sep. 30, 2012 |
Cash Flow from Operating Activities |
|
|
|
|
Profit Before Income Tax |
|
3,261,199,213 |
|
2,276,788,115 |
Adjustments To Reconcile Net Profit To Net Cash Provided by Operating Activities |
|
Depreciation |
|
156,820,520 |
|
127,504,186 |
Impairment Charges for credit losses |
|
565,928,409 |
|
406,836,170 |
Other Provisions Charges |
|
55,004,886 |
|
90,779,892 |
Trading Financial Investment Revaluation Differences |
|
11,534,454 |
|
(114,094,428) |
Intangible Assets Amortization |
|
33,422,415 |
|
19,049,318 |
Goodwill Amortization |
|
- |
|
2,606,628 |
Available for sale and held to maturity investments exchange revaluation differences |
|
(114,126,028) |
|
(13,580,979) |
Financial Investments Impairment Charge (Release) |
|
(30,429,637) |
|
7,844,587 |
Utilization of Other Provisions |
|
(4,158,360) |
|
(73,032,184) |
Other Provisions No Longer Used |
|
(141,520) |
|
(531,054) |
Exchange Differences of Other Provisions |
|
14,405,419 |
|
1,106,792 |
Profits From Selling Property, Plant and Equipment |
|
(747,854) |
|
(3,801,360) |
Profits From Selling Financial Investments |
|
(3,720,380) |
|
2,289,009 |
Exchange Differences of Long Term Loans |
|
- |
|
42,050 |
Shares Based Payments |
71,885,037 |
|
66,036,546 |
Investments in Associates Revaluation |
(16,308,603) |
|
- |
|
|
|
|
|
Operating Profits Before Changes in Operating Assets and Liabilities |
|
4,000,567,971 |
|
2,795,843,288 |
|
|
|
|
|
Net Decrease (Increase) in Assets and Liabilities |
|
|
|
|
Due from banks |
|
(966,228,638) |
|
(233,540,939) |
Treasury Bills & Other Governmental Notes |
|
(8,063,793,255) |
|
(43,416,593) |
Trading Financial Assets |
|
(681,550,388) |
|
(1,049,322,183) |
Derivative Financial Instruments |
|
30,969,267 |
|
16,904,759 |
Loans and Advances to Banks and Customers |
|
(544,007,435) |
|
(471,183,299) |
Other Assets |
|
(178,411,284) |
|
(1,035,637,518) |
Due to Banks |
|
(1,082,770,296) |
|
(1,255,697,899) |
Due to Customers |
|
15,350,330,347 |
|
6,959,976,920 |
Other Liabilities |
|
(753,238,312) |
|
|
Net Cash Provided from Operating Activities |
7,111,867,977 |
|
2,795,843,288 |
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|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
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As of September 30, 2013 |
|
Sep. 30, 2013 |
|
Sep. 30, 2012 |
Cash Flow From Investing Activities |
|
|
|
|
Purchase of Subsidiary and Associates |
|
(7,527,299) |
|
(31,964,942) |
Purchases of Property, Plant and Equipment |
|
(440,380,644) |
|
(167,419,342) |
Redemption of Held-to-Maturity Financial Investments |
|
14,162,733 |
|
- |
Purchases of Held to Maturity Financial Investment |
|
- |
|
(4,183,287,258) |
Purchases of Available for Sale Financial Investments |
|
(4,969,114,267) |
|
(9,826,460,193) |
Proceeds from Selling Available For Sale Financial Investments |
|
3,590,395,472 |
|
5,174,787,444 |
Proceeds from Selling Real Estate Investments |
|
700,000 |
|
2,750,000 |
Net Cash Generated from (Used in) Investing Activities |
|
(1,811,764,005) |
|
(9,031,594,291) |
|
|
|
|
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Cash Flow From Financing Activities |
|
|
|
|
Increase (Decrease) in Long Term Loans |
|
29,610,159 |
|
(36,951,273) |
Dividend Paid |
|
(1,055,843,163) |
|
(806,206,518) |
Capital Increase |
|
29,348,380 |
|
37,712,420 |
Net Cash Generated from (Used in) Financing Activities |
|
(996,884,624) |
|
(805,445,371) |
Net Increase (Decrease) in Cash and Cash Equivalent |
|
4,303,219,348 |
|
(4,153,567,765) |
Beginning Balance of Cash and Cash Equivalent |
|
5,665,914,467 |
|
8,207,517,133 |
Cash & Cash Equivalent Balance At the End of the Period |
|
9,969,133,815 |
|
4,053,949,368 |
Cash & Cash Equivalent Comprise |
|
|
|
|
Cash and Balances with Central Bank |
|
3,956,053,666 |
|
3,414,510,382 |
Due From Banks |
|
9,101,879,265 |
|
8,851,001,009 |
Treasury Bills and Other Governmental Notes |
|
21,734,857,255 |
|
9,139,014,588 |
Obligatory Reserve Balance With CBE |
|
(3,201,657,518) |
|
(3,067,529,100) |
Due from Banks (Time Deposits) More than Three Months |
|
(5,495,127,335) |
|
(5,418,263,433) |
Treasury Bills With Maturity More than Three months |
|
(16,126,871,518) |
|
(8,864,784,079) |
Total Cash & Cash Equivalent |
|
9,969,133,815 |
|
4,053,949,367 |
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