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Commercial International Bank (Egypt) S.A.E. |
Consolidated Financial Statements |
March 31, 2014 |
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|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
|
|
|
|
As of March 31, 2014 |
|
|
|
|
Amounts in EGP |
Note |
March 31, 2014 |
|
Dec. 31, 2013 |
Assets |
|
|
|
|
|
|
|
|
|
Cash & Balances with Central Bank |
15 |
4,729,829,856 |
|
4,804,974,237 |
Due From Banks |
16 |
10,333,594,869 |
|
9,003,950,890 |
Treasury Bills & Other Governmental Notes |
17 |
22,775,550,088 |
|
23,665,428,816 |
Trading Financial Assets |
18 |
3,380,560,206 |
|
2,286,484,581 |
Loans & Advances to Banks |
19 |
43,542,211 |
|
132,422,732 |
Loans & Advances to Customers |
20 |
42,469,388,366 |
|
41,733,251,712 |
Derivative Financial Instruments |
21 |
93,698,197 |
|
103,085,538 |
Financial Investments |
|
|
|
|
Available for Sale |
22 |
27,066,659,242 |
|
23,378,104,482 |
Held to Maturity |
22 |
4,185,480,015 |
|
4,197,176,655 |
Investments in Associates |
23 |
205,235,928 |
|
192,752,878 |
Brokerage Clients-Debit Balances |
|
833,046,316 |
|
270,811,253 |
Reconciliation Accounts- Debit Balances |
|
32,986,735 |
|
28,778,971 |
Investment Property |
24 |
4,056,000 |
|
9,695,686 |
Other Assets |
25 |
2,981,289,298 |
|
2,892,343,882 |
Deferred Tax |
33 |
65,222,546 |
|
83,557,219 |
Property, Plant and Equipment |
26 |
989,093,201 |
|
969,176,894 |
Total Assets |
|
120,189,233,074 |
|
113,751,995,426 |
|
|
|
|
|
Liabilities and Equity |
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
Due to Banks |
27 |
876,140,847 |
|
1,373,410,040 |
Due to Customers |
28 |
102,720,863,146 |
|
96,845,683,408 |
Brokerage Clients-Credit Balances |
|
1,106,997,332 |
|
167,378,879 |
Derivative Financial Instruments |
21 |
118,091,960 |
|
114,878,583 |
Current Income Tax Obligations |
|
1,152,996,108 |
|
1,179,708,811 |
Other Liabilities |
30 |
1,644,476,590 |
|
1,476,956,657 |
Long Term Loans |
29 |
141,302,084 |
|
132,153,227 |
Other Provisions |
31 |
499,602,189 |
|
454,699,000 |
|
|
|
|
|
Total Liabilities |
|
108,260,470,256 |
|
101,744,868,605 |
|
|
|
|
|
Equity |
|
|
|
|
Issued and Paid In Capital |
32 |
9,081,734,430 |
|
9,002,435,690 |
Reserves |
32 |
2,043,396,019 |
|
307,060,175 |
Reserve for Employee Stock Ownership Plan (ESOP) |
|
105,223,752 |
|
190,260,457 |
Retained Earnings (Losses) |
|
(155,160,013) |
|
(546,531,497) |
Total Equity |
|
11,075,694,188 |
|
8,953,224,825 |
Net Profit of the Period/Year After Tax |
|
805,224,903 |
|
3,006,487,540 |
Total Equity And Net Profit For Period/Year |
|
11,880,919,091 |
|
11,959,712,365 |
Minority Interest |
|
47,843,727 |
|
47,414,456 |
Total Minority Interest and Equity |
|
11,928,762,818 |
|
12,007,126,821 |
Total Liabilities, Equity and Minority Interest |
|
120,189,233,074 |
|
113,751,995,426 |
Contingent Liabilities and Commitments |
|
|
|
|
Letters of Credit, Guarantees and Other Commitments |
37 |
18,051,490,509 |
|
16,182,439,160 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
|
|
|
|
As of March 31, 2014 |
|
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|
Amounts in EGP. |
Note |
March 31, 2014 |
|
March 31, 2013 |
|
|
|
|
|
Interest and Similar Income |
|
2,561,862,105 |
|
2,145,204,975 |
Interest and Similar Expenses |
|
(1,192,668,306) |
|
(1,007,611,145) |
|
|
|
|
|
Net Interest Income |
6 |
1,369,193,799 |
|
1,137,593,830 |
|
|
|
|
|
Fees & Commissions Income |
|
410,603,989 |
|
317,107,277 |
Fees and Commissions Expense |
|
(36,851,976) |
|
(29,298,795) |
Net Income from Fees and Commissions |
7 |
373,752,013 |
|
287,808,482 |
Dividend Income |
8 |
222,578 |
|
1,701,888 |
Net Trading Income |
9 |
152,918,694 |
|
135,889,585 |
Profit (losses) from Financial Investments |
22 |
3,958,025 |
|
1,919,767 |
Administrative Expenses |
10 |
(421,616,248) |
|
(376,467,481) |
Other operating (Expenses) Income |
11 |
(151,260,041) |
|
(54,361,347) |
Impairment (Charge) Release for Credit Losses |
12 |
(184,587,065) |
|
(226,326,368) |
Intangible Assets Amortization |
|
- |
|
(2,088,901) |
Bank's Share in the Profits of Associates |
|
7,384,700 |
|
3,758,246 |
Net Profit Before Tax |
|
1,149,966,455 |
|
909,427,701 |
Income Tax Expense |
13 |
(325,968,231) |
|
(260,196,315) |
Deferred Tax |
33 & 13 |
(80,334,673) |
|
8,519,220 |
Net Profit of The period |
|
805,663,551 |
|
657,750,606 |
Minority Interest |
|
438,648 |
|
158,393 |
Bank Shareholders |
|
805,224,903 |
|
657,592,213 |
Earning per share |
14 |
|
|
|
Basic |
|
0.76 |
|
0.66 |
Diluted |
|
0.75 |
|
0.65 |
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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|
As of March. 31, 2014 |
|
|
|
|
Amounts in EGP. |
|
March 31, 2014 |
|
March 31, 2013 |
Cash Flow from Operating Activities |
|
|
|
|
Profit Before Income Tax |
|
1,149,966,455 |
|
909,427,701 |
Adjustments To Reconcile Net Profit |
|
|
|
|
To Net Cash Provided by Operating Activities |
|
|
|
|
Depreciation |
|
51,490,748 |
|
41,568,698 |
Impairment Charges for credit losses |
|
184,587,065 |
|
226,326,368 |
Other Provisions Charges |
|
46,175,135 |
|
34,710,014 |
Trading Financial Investment Revaluation Differences |
|
2,623,545 |
|
25,349,735 |
Intangible Assets Amortization |
|
- |
|
2,088,901 |
Available for sale and held to maturity investments exchange revaluation differences |
|
(3,336,225) |
|
(96,308,651) |
Financial Investments Impairment Charge (Release) |
|
422,796 |
|
(3,062,279) |
Utilization of Other Provisions |
|
(1,716,407) |
|
(3,265,332) |
Other Provisions No Longer Used |
|
- |
|
(141,520) |
Exchange Differences of Other Provisions |
|
444,461 |
|
9,997,924 |
Profits From Selling Property, Plant and Equipment |
|
(72,757) |
|
(491,491) |
Profits From Selling Financial Investments |
|
(3,973,106) |
|
(1,951,749) |
Share Based Payments |
27,314,941 |
|
23,961,679 |
Investments in Associates Revaluation |
|
(7,495,265) |
|
(6,531,730) |
Operating Profits Before Changes in Operating Assets and Liabilities |
|
1,446,431,386 |
|
1,161,678,268 |
|
|
|
|
|
Net Decrease (Increase) in Assets and Liabilities |
|
|
|
|
Due from banks |
|
(814,219,816) |
|
(1,187,126,786) |
Treasury Bills & Other Governmental Notes |
|
1,349,983,072 |
|
(2,179,687,466) |
Trading Financial Assets |
|
(1,096,699,170) |
|
336,688,055 |
Derivative Financial Instruments |
|
12,600,718 |
|
22,681,045 |
Loans and Advances to Banks and Customers |
|
(831,843,197) |
|
(916,840,550) |
Other Assets |
|
(659,050,939) |
|
(364,050,710) |
Due to Banks |
|
(497,269,193) |
|
(715,615,737) |
Due to Customers |
|
5,875,179,738 |
|
7,348,254,732 |
Income Tax obligations Paid |
|
(352,315,748) |
|
(242,162,433) |
Other Liabilities |
|
1,106,773,200 |
|
530,850,794 |
Net Cash Provided from Operating Activities |
5,539,570,051 |
|
3,794,669,212 |
|
|
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
|
|
|
|
As of March. 31, 2014 |
|
March 31, 2014 |
|
March 31, 2013 |
Cash Flow From Investing Activities |
|
|
|
|
Purchase of Subsidiary and Associates |
|
(4,987,784) |
|
- |
Purchase of Property, Plant and Equipment |
|
(67,672,602) |
|
(116,687,001) |
Redemption of Held-to-Maturity Financial Investments |
|
11,696,640 |
|
8,075,590 |
Purchases of Available for Sale Financial Investments |
|
(4,913,751,526) |
|
(737,071,950) |
Proceeds from Selling Available For Sale Financial Investments |
|
1,494,780,053 |
|
1,534,760,298 |
Proceeds from Selling Real Estate Investments |
|
5,639,686 |
|
- |
Net Cash Generated from (Used in) Investing Activities |
|
(3,474,295,533) |
|
689,076,937 |
|
|
|
|
|
Cash Flow From Financing Activities |
|
|
|
|
Increase (Decrease) in Long Term Loans |
|
9,148,857 |
|
48,635,000 |
Dividend Paid |
|
(1,253,337,987) |
|
(309,308,736) |
Capital Increase |
|
79,298,740 |
|
- |
Net Cash Generated from (Used in) Financing Activities |
|
(1,164,890,390) |
|
(260,673,736) |
|
|
|
|
|
Net Increase (Decrease) in Cash and Cash Equivalent during the period |
|
900,384,128 |
|
4,223,072,413 |
Beginning Balance of Cash and Cash Equivalent |
|
11,888,626,680 |
|
5,665,914,467 |
Cash & Cash Equivalent Balance At the End of the Period |
|
12,789,010,808 |
|
9,888,986,880 |
|
|
|
|
|
Cash & Cash Equivalent Comprise |
|
|
|
|
Cash and Balances with Central Bank |
|
4,729,829,856 |
|
5,616,291,150 |
Due From Banks |
|
10,333,594,869 |
|
9,682,102,706 |
Treasury Bills and Other Governmental Notes |
|
22,775,550,088 |
|
13,751,041,752 |
Obligatory Reserve Balance With CBE |
|
(3,225,921,408) |
|
(3,306,582,184) |
Due from Banks (Time Deposits) More than Three Months |
|
(5,961,288,645) |
|
(5,611,100,817) |
Treasury Bills With Maturity More than Three months |
|
(15,862,753,952) |
|
(10,242,765,727) |
Total Cash & Cash Equivalent |
|
12,789,010,808 |
|
9,888,986,880 |
