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Commercial International Bank (Egypt) S.A.E. |
Separate Financial Statements |
December 31, 2013 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
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As of December 31, 2013 |
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Amounts in EGP. |
Note |
Dec.31, 2013 |
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Dec. 31 ,2012 |
Assets |
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Cash and Balances with Central Bank |
15 |
4,796,240,354 |
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5,393,974,124 |
Due From Banks |
16 |
8,893,670,965 |
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7,957,710,034 |
Treasury Bills and Other Governmental Notes |
17 |
23,654,812,174 |
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7,978,030,413 |
Trading Financial Assets |
18 |
2,246,347,806 |
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1,472,281,763 |
Loans and Advances to Banks |
19 |
132,422,732 |
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1,178,867,739 |
Loans and Advances to Customers |
20 |
41,837,951,712 |
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40,698,313,773 |
Derivative Financial Investments |
21 |
103,085,538 |
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137,459,761 |
Financial Investments |
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Available for Sale |
22 |
23,363,501,695 |
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21,161,884,032 |
Held to Maturity |
22 |
4,187,173,991 |
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4,205,753,328 |
Investments in Subsidiary and Associates |
23 |
599,276,660 |
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938,033,700 |
Investment Property |
24 |
9,695,686 |
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10,395,686 |
Other Assets |
25 |
2,879,794,496 |
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2,459,025,844 |
Deferred Tax |
33 |
83,755,441 |
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129,133,209 |
Property, Plant and Equipment |
26 |
964,538,516 |
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684,527,896 |
Total Assets |
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113,752,267,766 |
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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 |
1,373,410,040 |
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1,714,862,716 |
Due to Customers |
28 |
96,940,270,000 |
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78,834,726,890 |
Derivative Financial Instruments |
21 |
114,878,583 |
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119,099,260 |
Other Liabilities |
30 |
2,625,755,491 |
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2,034,351,571 |
Long Term Loans |
29 |
132,153,227 |
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80,495,238 |
Other Provisions |
31 |
450,755,558 |
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310,648,113 |
Total Liabilities |
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101,637,222,899 |
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83,094,183,788 |
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Equity |
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Issued & Paid- in Capital |
32 |
9,002,435,690 |
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5,972,275,410 |
Reserves |
32 |
307,223,285 |
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2,970,458,093 |
Reserve for Employee Stock Ownership Plan (ESOP) |
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190,260,457 |
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164,761,121 |
Retained Earnings(Losses) |
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- |
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1,001,979 |
Total Equity |
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9,499,919,432 |
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9,108,496,603 |
Net Profit of the Period/Year After Tax |
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2,615,125,435 |
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2,202,710,911 |
Total Equity and Net Profit for the Period/Year |
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12,115,044,867 |
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11,311,207,514 |
Total Liabilities and Equity |
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113,752,265,766 |
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94,405,391,302 |
Contingent Liabilities and Commitments |
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Letters of Credit, Guarantees and other commitments |
37 |
16,182,489,160 |
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14,897,789,005 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
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As of December 30, 2013 |
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Amounts in EGP. |
Note |
Dec. 31, 2013 |
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Dec. 31, 2012 |
Interest and Similar Income |
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9,509,874,663 |
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7,845,913,494 |
Interest and Similar Expense |
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(4,460,113,281) |
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(3,945,237,550) |
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Net Interest Income |
6 |
5,049,761,382 |
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3,900,675,944 |
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Fee and Commissions Income |
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1,316,916,389 |
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942,867,320 |
Fee and Commissions Expense |
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(127,965,091) |
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(107,365,742) |
Net Income from Fees and Commissions |
7 |
1,188,951,298 |
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835,501,578 |
Dividend Income |
8 |
19,803,451 |
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32,234,196 |
Net Trading Income |
9 |
759,972,323 |
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565,727,965 |
Profit (Losses) from Financial Investments |
22 |
(381,156,748) |
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(116,514,246) |
Administrative Expenses |
10 |
(1,726,520,973) |
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(1,444,645,467) |
Other Operating (Expenses) Income |
11 |
(155,016,845) |
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(109,790,791) |
Impairment Charge for Credit Losses |
12 |
(915,581,874) |
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(609,971,077) |
Net Profit before Tax |
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3,840,212,014 |
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3,053,218,102 |
Income Tax Expense |
13 |
(1,179,708,811) |
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(884,498,673) |
Deferred Tax |
33 & 13 |
(45,377,768) |
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33,991,482 |
Net Profit of the Year |
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2,615,125,435 |
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2,202,710,911 |
Earnings per share |
14 |
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Basic |
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2.67 |
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2.34 |
Diluted |
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2.63 |
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2.31 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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As of December 31, 2013 |
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Amounts in EGP. |
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Dec. 31, 2013 |
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Dec. 31, 2012 |
Cash Flow From Operating Activities |
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Profit Before Income Tax |
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3,840,212,014 |
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3,053,218,102 |
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities |
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Depreciation |
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202,345,252 |
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167,225,901 |
Impairment Charges for credit losses |
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915,581,874 |
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609,971,077 |
Other Provisions Charges |
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129,104,495 |
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51,616,932 |
Trading Financial Investment Revaluation Differences |
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17,695,722 |
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(78,642,848) |
Available for sale and held to maturity investments exchange revaluation differences |
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(124,230,792) |
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(60,242,239) |
Financial Investments Impairment Charge (Release) |
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(6,267,555) |
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7,902,478 |
Utilization of Other Provisions |
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(5,633,785) |
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(12,294,615) |
Other Provisions No Longer Used |
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(141,521) |
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(531,054) |
Exchange Differences of Other Provisions |
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16,778,256 |
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7,230,941 |
Profits From Selling Property, Plant and Equipment |
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(740,692) |
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(2,387,583) |
Profits From Selling Financial Investments |
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(1,656,257) |
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(519,013) |
Share Based Payments |
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89,181,563 |
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79,068,829 |
Investments in Subsidiary and Associates Revaluation |
346,284,340 |
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89,736,000 |
Real Estate Investments Impairment Charges(Release) |
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(371,000) |
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Operating Profits Before Changes in Operating Assets and Liabilities |
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5,418,512,914 |
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3,910,981,908 |
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Net Decrease (Increase) in Assets and Liabilities |
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Due from banks |
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(642,434,022) |
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521,695,379 |
Treasury Bills & Other Governmental Notes |
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(9,149,658,764) |
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758,289,224 |
Trading Financial Assets |
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(791,761,765) |
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(832,554,642) |
Derivative Financial Instruments |
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30,153,546 |
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13,896,165 |
Loans and Advances to Banks and Customers |
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(1,008,774,806) |
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(1,421,772,116) |
Other Assets |
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(382,561,576) |
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(948,385,056) |
Due to Banks |
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(341,452,676) |
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(1,625,931,801) |
Due to Customers |
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18,105,543,110 |
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7,260,679,360 |
Other Liabilities |
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(588,304,891) |
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(163,932,538) |
Net Cash Provided from Operating Activities |
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10,649,261,070 |
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7,472,965,883 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
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As of December 31, 2013 |
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Dec. 31, 2013 |
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Dec. 31, 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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(32,173,922) |
Purchases of Property, Plant and Equipment |
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(519,822,256) |
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(204,721,832) |
Redemption of Held-to-Maturity Financial Investments |
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18,579,337 |
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- |
Purchases of Held to Maturity Financial Investments |
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- |
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(4,176,660,408) |
Purchases of Available for Sale Financial Investments |
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(7,463,491,687) |
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(10,163,193,809) |
Proceeds from Selling Available for Sale Financial Investments |
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4,520,053,768 |
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5,343,312,219 |
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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(3,451,508,138) |
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(9,230,687,752) |
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Cash Flow From Financing Activities |
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Increase (Decrease) in Long Term Loans |
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51,657,989 |
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(18,838,138) |
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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(974,836,796) |
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(787,332,239) |
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Net Increase (Decrease) in Cash and Cash Equivalent during the year |
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6,222,916,136 |
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(2,545,054,108) |
Beginning Balance of Cash and Cash Equivalent |
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5,536,080,094 |
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8,801,134,203 |
Cash and Cash Equivalent Balance At the End of the Year |
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11,758,996,230 |
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5,536,080,095 |
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Cash & Cash Equivalent Comprise |
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Cash and Balances with Central Bank |
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4,796,240,354 |
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5,393,974,124 |
Due From Banks |
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8,893,670,965 |
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7,957,710,034 |
Treasury Bills and Other Governmental Notes |
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23,654,812,174 |
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7,978,030,413 |
Obligatory Reserve Balance With CBE |
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(3,224,658,841) |
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(3,093,283,199) |
Due from Banks (Time Deposits) More than Three Months |
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(5,148,331,397) |
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(4,637,273,016) |
Treasury Bills with Maturity More than Three Months |
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(17,212,737,025) |
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(8,063,078,261) |
Total Cash & Cash Equivalent |
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11,758,996,230 |
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5,536,080,095 |
