Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/0159N_-2014-7-22.pdf |
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Commercial International Bank (Egypt) S.A.E. |
Unconsolidated 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 and Due with Central Bank |
15 |
6,135,522 |
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4,796,240 |
Due From Banks |
16 |
11,397,564 |
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8,893,671 |
Treasury Bills and Other Governmental Notes |
17 |
20,661,024 |
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23,654,813 |
Trading Financial Assets |
18 |
3,262,270 |
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2,246,348 |
Loans and Advances to Banks |
19 |
69,546 |
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132,422 |
Loans and Advances to Customers |
20 |
45,333,118 |
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41,837,952 |
Derivative Financial Investments |
21 |
73,407 |
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103,085 |
Financial Investments |
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Available for Sale |
22 |
27,184,056 |
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23,363,501 |
Held to Maturity |
22 |
8,988,994 |
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4,187,174 |
Investments in Subsidiary and Associates |
23 |
606,456 |
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599,277 |
Investment Property |
24 |
4,056 |
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9,696 |
Other Assets |
25 |
3,273,416 |
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2,879,795 |
Deferred Tax |
33 |
73,557 |
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83,755 |
Property, Plant and Equipment |
26 |
980,632 |
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964,539 |
Total Assets |
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128,043,618 |
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113,752,268 |
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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 |
111,165,190 |
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96,940,270 |
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 |
1,439,022 |
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1,446,040 |
Long Term Loans |
29 |
212,188 |
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132,153 |
Other Provisions |
31 |
548,016 |
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450,755 |
Total Liabilities |
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114,997,143 |
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101,637,223 |
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Equity |
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Issued & Paid- in Capital |
32 |
9,081,734 |
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9,002,435 |
Reserves |
32 |
2,169,199 |
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307,224 |
Reserve for Employee Stock Ownership Plan (ESOP) |
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132,539 |
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190,261 |
Total Equity |
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11,383,472 |
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9,499,920 |
Net Profit of the Period/Year After Tax |
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1,663,003 |
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2,615,125 |
Total Equity and Net Profit for the Period/Year |
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13,046,475 |
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12,115,045 |
Total Liabilities and Equity |
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128,043,618 |
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113,752,268 |
Contingent Liabilities and Commitments |
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Letters of Credit, Guarantees and other commitments |
37 |
22,094,157 |
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16,182,490 |
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. Thousand |
Note |
June 30, 2014 |
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June 30, 2013 |
Interest and Similar Income |
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5,268,734 |
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4,503,578 |
Interest and Similar Expense |
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(2,462,911) |
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(2,097,760) |
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Net Interest Income |
6 |
2,805,823 |
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2,405,818 |
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Fee and Commissions Income |
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763,978 |
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668,595 |
Fee and Commissions Expense |
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(80,233) |
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(63,132) |
Net Income from Fees and Commissions |
7 |
683,745 |
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605,463 |
Dividend Income |
8 |
28,356 |
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12,275 |
Net Trading Income |
9 |
399,639 |
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375,678 |
Profit from Financial Investments |
22 |
9,379 |
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2,214 |
Administrative Expenses |
10 |
(757,887) |
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(687,248) |
Other Operating (Expenses) Income |
11 |
(292,909) |
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(232,701) |
Impairment Charge for Credit Losses |
12 |
(359,160) |
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(490,785) |
Net Profit before Tax |
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2,516,986 |
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1,990,714 |
Income Tax Expense |
13 |
(843,785) |
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(671,154) |
Deferred Tax |
33 & 13 |
(10,198) |
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4,391 |
Net Profit of the Period |
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1,663,003 |
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1,323,951 |
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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1.59 |
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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. Thousand |
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June 30, 2014 |
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June 30, 2013 |
Cash Flow From Operating Activities |
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Net Profit Before Tax |
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2,516,986 |
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1,990,714 |
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities |
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Depreciation |
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102,925 |
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90,274 |
Assets Impairment Charges |
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359,160 |
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490,785 |
Other Provisions Charges |
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98,156 |
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69,072 |
Trading Financial Investment Revaluation Differences |
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(42,020) |
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(1,317) |
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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8,436 |
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(31,267) |
Utilization of Other Provisions |
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(6,306) |
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(978) |
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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(9,387) |
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(2,229) |
Share Based Payments |
54,630 |
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47,924 |
Investments in Subsidiary and Associates Revaluation |
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(1) |
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(4,039) |
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Operating Profits Before Changes in Operating Assets and Liabilities |
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3,049,422 |
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2,527,266 |
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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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(1,826,251) |
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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(973,902) |
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(293,432) |
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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(3,791,450) |
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(1,178,066) |
Other Assets |
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(390,244) |
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(17,542) |
Due to Banks |
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(690,043) |
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(761,355) |
Due to Customers |
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14,224,920 |
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12,453,407 |
Income Tax obligations paid |
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(1,179,709) |
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(819,362) |
Other Liabilities |
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(7,025) |
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181,867 |
Net Cash Provided from Operating Activities |
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8,722,182 |
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3,530,477 |
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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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(7,178) |
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(7,528) |
Purchases of Property, Plant and Equipment |
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(122,003) |
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(367,000) |
Redemption of Held-to-Maturity Financial Investments |
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3,132 |
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11,860 |
Purchases of Held to Maturity Financial Investments |
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(4,804,952) |
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- |
Purchases of Available for Sale Financial Investments |
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(6,195,277) |
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(778,731) |
Proceeds from Selling Available for Sale Financial Investments |
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2,801,684 |
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2,681,275 |
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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(8,318,954) |
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1,540,576 |
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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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29,349 |
Net Cash Generated from (Used in) Financing Activities |
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(1,094,004) |
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(989,194) |
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Net Increase (Decrease) in Cash and Cash Equivalent |
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(690,776) |
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4,081,859 |
Beginning Balance of Cash and Cash Equivalent |
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11,758,996 |
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5,536,080 |
Cash and Cash Equivalent Balance At the End of the Period |
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11,068,220 |
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9,617,939 |
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Cash & Cash Equivalent Comprise |
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Cash and Balances with Central Bank |
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6,135,522 |
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6,417,883 |
Due From Banks |
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11,397,564 |
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9,808,439 |
Treasury Bills and Other Governmental Notes |
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20,661,024 |
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17,772,316 |
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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(7,608,108) |
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(6,271,865) |
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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11,068,220 |
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9,617,939 |
