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http://www.rns-pdf.londonstockexchange.com/rns/0152N_-2014-7-22.pdf |
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Commercial International Bank (Egypt) S.A.E. |
Consolidated Financial Statements |
June 30, 2014 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
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As of June 30, 2014 |
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Amounts in EGP Thousand |
Note |
June 30, 2014 |
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Dec. 31, 2013 |
Assets |
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Cash & Balances with Central Bank |
15 |
6,173,381 |
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4,804,974 |
Due From Banks |
16 |
11,629,599 |
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9,003,951 |
Treasury Bills & Other Governmental Notes |
17 |
20,668,152 |
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23,665,429 |
Trading Financial Assets |
18 |
3,231,673 |
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2,286,485 |
Loans & Advances to Banks |
19 |
69,546 |
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132,422 |
Loans & Advances to Customers |
20 |
44,992,418 |
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41,733,252 |
Derivative Financial Instruments |
21 |
73,407 |
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103,085 |
Financial Investments |
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Available for Sale |
22 |
27,195,216 |
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23,378,104 |
Held to Maturity |
22 |
8,988,994 |
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4,197,177 |
Investments in Associates |
23 |
216,231 |
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192,753 |
Brokerage Clients-Debit Balances |
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648,536 |
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270,811 |
Reconciliation Accounts- Debit Balances |
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- |
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28,779 |
Investment Property |
24 |
4,056 |
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9,696 |
Other Assets |
25 |
3,291,323 |
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2,892,343 |
Deferred Tax |
33 |
72,740 |
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83,557 |
Property, Plant and Equipment |
26 |
984,247 |
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969,176 |
Total Assets |
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128,240,119 |
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113,751,994 |
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Liabilities and Equity |
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Liabilities |
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Due to Banks |
27 |
683,367 |
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1,373,410 |
Due to Customers |
28 |
110,900,133 |
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96,845,683 |
Brokerage clients-Credit Balance |
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361,920 |
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167,379 |
Reconciliation accounts- credit balances |
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16,318 |
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- |
Derivative Financial Instruments |
21 |
105,575 |
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114,879 |
Current Income Tax obligations |
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843,785 |
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1,179,709 |
Other Liabilities |
30 |
1,547,304 |
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1,476,957 |
Long Term Loans |
29 |
212,188 |
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132,153 |
Other Provisions |
31 |
555,922 |
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454,699 |
Total Liabilities |
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115,226,512 |
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101,744,869 |
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Equity |
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Issued and Paid In Capital |
32 |
9,081,734 |
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9,002,435 |
Reserves |
32 |
2,169,047 |
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307,059 |
Reserve for Employee Stock Ownership Plan (ESOP) |
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132,538 |
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190,260 |
Retained Earnings (losses) |
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(155,160) |
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(546,531) |
Total Equity |
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11,228,159 |
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8,953,223 |
Net Profit of the Period/Year After Tax |
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1,737,322 |
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3,006,488 |
Total Equity And Net Profit For Period/Year |
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12,965,481 |
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11,959,711 |
Minority Interest |
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48,126 |
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47,414 |
Total Minority Interest and Equity |
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18,013,607 |
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12,007,125 |
Total Liabilities, Equity and Minority Interest |
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128,240,119 |
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113,751,994 |
Contingent Liabilities and Commitments |
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Letters of Credit, Guarantees and Other Commitments |
37 |
22,094,107 |
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16,182,440 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
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As of June 30, 2014 |
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Amounts in EGP. Thousands |
Note |
June 30, 2014 |
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June 30, 2013 |
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Interest and Similar Income |
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5,265,020 |
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4,508,235 |
Interest and Similar Expenses |
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(2,462,929) |
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(2,098,424) |
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Net Interest Income |
6 |
2,802,091 |
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2,409,811 |
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Fees & Commissions Income |
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909,762 |
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721,374 |
Fees and Commissions Expense |
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(82,036) |
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(63,183) |
Net Income from Fees and Commissions |
7 |
827,726 |
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658,191 |
Dividend Income |
8 |
28,493 |
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14,065 |
Net Trading Income |
9 |
402,021 |
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381,716 |
Profit (Losses) from Financial Investments |
22 |
9,389 |
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2,148 |
Administrative Expenses |
10 |
(832,921) |
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(750,420) |
Other operating (Expenses) Income |
11 |
(296,168) |
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(231,603) |
Impairment Charge for Credit Losses |
12 |
(359,160) |
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(490,785) |
Intangible Assets Amortization |
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- |
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(4,177) |
Bank's Share in the Profits of Associates |
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17,310 |
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10,166 |
Profit Before IncomeTax |
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2,598,781 |
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1,999,111 |
Income Tax Expense |
13 |
(849,921) |
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(674,177) |
Deferred Tax |
33 & 13 |
(10,817) |
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4,189 |
Net Profit For the Period |
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1,738,043 |
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1,329,124 |
Minority Interest |
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721 |
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282 |
Bank Shareholders |
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1,737,322 |
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1,328,842 |
Earning per share |
14 |
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Basic |
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1.62 |
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1.30 |
Diluted |
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1.51 |
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1.29 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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As of June 30, 2014 |
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Amounts in EGP. Thousands |
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June 30, 2014 |
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June 30, 2013 |
Cash Flow from Operating Activities |
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Profit Before Income Tax |
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2,598,781 |
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1,999,112 |
Adjustments To Reconcile Net Profit To Net Cash Provided by Operating Activities |
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Depreciation |
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104,686 |
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92,706 |
Impairment Charge for credit losses |
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359,160 |
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490,785 |
Other Provisions Charges |
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102,316 |
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69,072 |
Trading Financial Investment Revaluation Differences |
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(42,980) |
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(5,284) |
Intangible Assets Amortization |
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- |
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4,178 |
Available for sale and held to maturity investments exchange revaluation differences |
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(38,176) |
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(136,563) |
Financial Investments Impairment Charge (Release) |
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8,447 |
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(31,201) |
Utilization of Other Provisions |
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(6,504) |
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(4,020) |
Other Provisions No Longer Used |
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- |
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(142) |
Exchange Differences of Other Provisions |
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5,411 |
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15,527 |
Profits From Selling Property, Plant and Equipment |
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(392) |
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(495) |
Profits From Selling Financial Investments |
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(9,408) |
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(2,230) |
Shares Based Payments |
54,630 |
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47,923 |
Investments in Associates Revaluation |
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(17,311) |
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(14,204) |
Operating Profits Before Changes in Operating Assets and Liabilities |
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3,118,660 |
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2,525,164 |
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Net Decrease (Increase) in Assets and Liabilities |
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Due from banks |
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(2,493,816) |
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(1,804,751) |
Treasury Bills & Other Governmental Notes |
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953,655 |
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(6,760,815) |
Trading Financial Assets |
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(902,208) |
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(287,190) |
Derivative Financial Instruments |
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20,374 |
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24,760 |
Loans and Advances to Banks and Customers |
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(3,555,450) |
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(928,066) |
Other Assets |
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(744,548) |
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(63,536) |
Due to Banks |
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(690,043) |
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(761,355) |
Due to Customers |
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14,054,450 |
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12,458,181 |
Income Tax obligation Paid |
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(1,179,709) |
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(819,362) |
Other Liabilities |
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275,070 |
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5,809 |
Net Cash Provided from Operating Activities |
8,856,435 |
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3,588,839 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
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As of June 30, 2014 |
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June 30, 2014 |
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June 30, 2013 |
Cash Flow From Investing Activities |
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Purchase of Subsidiary and Associates |
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(6,167) |
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(7,527) |
Purchases of Property, Plant and Equipment |
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(122,742) |
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(374,266) |
Redemption of Held-to-Maturity Financial Investments |
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3,132 |
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11,875 |
Purchases of Held to Maturity Financial Investment |
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(4,794,949) |
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- |
Purchases of Available for Sale Financial Investments |
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(6,192,434) |
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(778,731) |
Proceeds from Selling Available For Sale Financial Investments |
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2,801,705 |
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2,682,302 |
Proceeds from Selling Real Estate Investments |
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5,640 |
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700 |
Net Cash Generated from (Used in) Investing Activities |
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(8,305,815) |
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1,534,353 |
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Cash Flow From Financing Activities |
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Increase (Decrease) in Long Term Loans |
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80,035 |
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37,300 |
Dividend Paid |
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(1,253,338) |
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(1,055,843) |
Capital Increase |
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79,299 |
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29,348 |
Net Cash Generated from (Used in) Financing Activities |
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(1,094,004) |
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(989,194) |
Net Increase (Decrease) in Cash and Cash Equivalent |
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(543,384) |
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4,133,997 |
Beginning Balance of Cash and Cash Equivalent |
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11,888,627 |
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5,665,914 |
Cash & Cash Equivalent Balance At the End of the Period |
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11,345,243 |
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9,799,911 |
Cash & Cash Equivalent Comprise |
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Cash and Balances with Central Bank |
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6,173,381 |
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6,417,884 |
Due From Banks |
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11,629,599 |
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9,942,223 |
Treasury Bills and Other Governmental Notes |
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20,668,152 |
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17,799,004 |
Obligatory Reserve Balance With CBE |
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(3,258,699) |
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(3,284,941) |
Due from Banks (Time Deposits) More than Three Months |
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(7,608,107) |
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(6,250,366) |
Treasury Bills With Maturity More than Three months |
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(16,259,083) |
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(14,823,893) |
Total Cash & Cash Equivalent |
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11,345,243 |
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9,799,911 |
