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Commercial International Bank (Egypt) S.A.E. |
Separate Financial Statements |
December 31, 2014 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
|
|
|
|
As of December 31, 2014 |
|
|
|
|
Amounts in EGP. Thousands |
Note |
Dec.31, 2014 |
|
Dec. 31 ,2013 |
Assets |
|
|
|
|
|
|
|
|
|
Cash and Balances with Central Bank |
15 |
7,502,256 |
|
4,796,240 |
Due From Banks |
16 |
9,279,896 |
|
8,893,671 |
Treasury Bills and Other Governmental Notes |
17 |
30,539,402 |
|
23,654,813 |
Trading Financial Assets |
18 |
3,727,571 |
|
2,246,348 |
Loans and Advances to Banks |
19 |
118,091 |
|
132,422 |
Loans and Advances to Customers |
20 |
49,279,817 |
|
41,837,952 |
Derivative Financial Investments |
21 |
52,188 |
|
103,085 |
Financial Investments |
|
|
|
|
Available for Sale |
22 |
27,688,410 |
|
23,363,501 |
Held to Maturity |
22 |
9,160,746 |
|
4,187,174 |
Investments in Subsidiary and Associates |
23 |
564,686 |
|
599,277 |
Investment Property |
24 |
884,094 |
|
- |
Other Assets |
25 |
3,745,362 |
|
2,889,491 |
Deferred Tax |
33 |
122,110 |
|
83,755 |
Property, Plant and Equipment |
26 |
982,296 |
|
964,539 |
Total Assets |
|
143,646,925 |
|
113,752,268 |
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Liabilities and Equity |
|
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Liabilities |
|
|
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Due to Banks |
27 |
1,131,385 |
|
1,373,410 |
Due to Customers |
28 |
122,244,933 |
|
96,940,270 |
Derivative Financial Instruments |
21 |
137,175 |
|
114,879 |
Current Income Tax Obligations |
|
1,814,609 |
|
1,179,709 |
Other Liabilities |
30 |
2,541,965 |
|
1,446,047 |
Long Term Loans |
29 |
242,878 |
|
132,153 |
Other Provisions |
31 |
718,356 |
|
450,755 |
Total Liabilities |
|
128,831,301 |
|
101,637,223 |
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Equity |
|
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|
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Issued & Paid- in Capital |
32 |
9,081,734 |
|
9,002,435 |
Reserves |
32 |
1,908,594 |
|
307,224 |
Reserve for Employee Stock Ownership Plan (ESOP) |
|
177,766 |
|
190,260 |
Total Equity |
|
11,168,094 |
|
9,499,920 |
Net Profit of the Period/Year After Tax |
|
3,647,530 |
|
2,615,125 |
Total Equity and Net Profit for the Period/Year |
|
14,815,624 |
|
12,115,045 |
Total Liabilities and Equity |
|
143,646,925 |
|
113,752,268 |
Contingent Liabilities and Commitments |
|
|
|
|
Letters of Credit, Guarantees and other commitments |
37 |
25,309,960 |
|
16,182,490 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
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|
As of December 30, 2014 |
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|
Amounts in EGP. Thousands |
Note |
Dec. 31, 2014 |
|
Dec. 31, 2013 |
Interest and Similar Income |
|
11,549,834 |
|
9,509,874 |
Interest and Similar Expense |
|
(5,274,133) |
|
(4,460,113) |
|
|
|
|
|
Net Interest Income |
6 |
6,275,701 |
|
5,049,761 |
|
|
|
|
|
Fee and Commissions Income |
|
1,632,397 |
|
1,316,916 |
Fee and Commissions Expense |
|
(181,498) |
|
(127,965) |
Net Income from Fees and Commissions |
7 |
1,450,899 |
|
1,188,951 |
Dividend Income |
8 |
28,514 |
|
19,803 |
Net Trading Income |
9 |
717,001 |
|
759,973 |
Profit (Losses) from Financial Investments |
22 |
(29,335) |
|
(381,157) |
Administrative Expenses |
10 |
(1,704,500) |
|
(1,449,945) |
Other Operating (Expenses) Income |
11 |
(725,702) |
|
(431,592) |
Impairment (Charge) Release for Credit Losses |
12 |
(588,794) |
|
(915,582) |
Net Profit before Tax |
|
5,423,784 |
|
3,840,212 |
Income Tax Expense |
13 |
(1,814,609) |
|
(1,179,709) |
Deferred Tax |
33 & 13 |
38,355 |
|
(45,378) |
Net Profit of the Year |
|
3,647,530 |
|
2,615,125 |
Earnings per share |
14 |
|
|
|
Basic |
|
3.55 |
|
2.65 |
Diluted |
|
3.49 |
|
2.62 |
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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As of December 31, 2014 |
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|
|
|
Amounts in EGP. Thousands |
|
Dec. 31, 2014 |
|
Dec. 31, 2013 |
Cash Flow From Operating Activities |
|
|
|
|
Profit Before Income Tax |
|
5,423,784 |
|
3,840,212 |
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities |
|
|
|
|
Depreciation |
|
213,771 |
|
202,345 |
Impairment Charges for credit losses |
|
588,794 |
|
915,582 |
Other Provisions Charges |
|
278,514 |
|
129,104 |
Trading Financial Investment Revaluation Differences |
|
(4,468) |
|
17,696 |
Available for sale and held to maturity investments exchange revaluation differences |
|
(38,176) |
|
(124,231) |
Financial Investments Impairment Charge (Release) |
|
65,736 |
|
(6,268) |
Utilization of Other Provisions |
|
(6,600) |
|
(5,634) |
Other Provisions No Longer Used |
|
(456) |
|
(142) |
Exchange Differences of Other Provisions |
|
(3,857) |
|
16,778 |
Profits From Selling Property, Plant and Equipment |
|
(2,106) |
|
(741) |
Profits From Selling Financial Investments |
|
(82,907) |
|
(1,656) |
Share Based Payments |
|
99,857 |
|
89,182 |
Investments in Subsidiary and Associates Revaluation |
52,479 |
|
346,285 |
|
|
|
|
|
Operating Profits Before Changes in Operating Assets and Liabilities |
|
6,584,365 |
|
5,418,512 |
|
|
|
|
|
Net Decrease (Increase) in Assets and Liabilities |
|
|
|
|
Due from banks |
|
(131,586) |
|
(642,434) |
Treasury Bills & Other Governmental Notes |
|
(4,897,448) |
|
(9,149,659) |
Trading Financial Assets |
|
(1,476,755) |
|
(791,762) |
Derivative Financial Instruments |
|
73,193 |
|
30,154 |
Loans and Advances to Banks and Customers |
|
(8,016,328) |
|
(1,008,775) |
Other Assets |
|
(845,028) |
|
(381,862) |
Due to Banks |
|
(242,025) |
|
(341,453) |
Due to Customers |
|
25,304,663 |
|
18,105,543 |
Income Tax Obligation Paid |
|
(1,179,704) |
|
(819,362) |
Other Liabilities |
|
1,095,918 |
|
231,057 |
Net Cash Provided from Operating Activities |
|
16,269,260 |
|
10,649,959 |
|
|
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
|
|
|
|
As of December 31, 2014 |
|
Dec. 31, 2014 |
|
Dec. 31, 2013 |
Cash Flow From Investing Activities |
|
|
|
|
Purchase of Subsidiary and Associates |
|
(17,888) |
|
(7,528) |
Purchases of Property, Plant and Equipment |
|
(240,265) |
|
(519,822) |
Redemption of Held-to-Maturity Financial Investments |
|
- |
|
18,579 |
Purchases of Held to Maturity Financial Investments |
|
(4,973,572) |
|
- |
Purchases of Available for Sale Financial Investments |
|
(9,080,132) |
|
(7,463,492) |
Proceeds from Selling Available for Sale Financial Investments |
|
4,937,801 |
|
4,520,054 |
Purchase of Real Estate Investments |
|
(884,094) |
|
- |
Net Cash Generated from (Used in) Investing Activities |
|
(10,258,150) |
|
(3,452,209) |
|
|
|
|
|
Cash Flow From Financing Activities |
|
|
|
|
Increase (Decrease) in Long Term Loans |
|
110,725 |
|
51,658 |
Dividend Paid |
|
(1,253,338) |
|
(1,055,843) |
Capital Increase |
|
79,299 |
|
29,349 |
Net Cash Generated from (Used in) Financing Activities |
|
(1,063,314) |
|
(974,836) |
|
|
|
|
|
Net Increase (Decrease) in Cash and Cash Equivalent during the year |
|
4,947,796 |
|
6,222,914 |
Beginning Balance of Cash and Cash Equivalent |
|
11,758,996 |
|
5,536,080 |
Cash and Cash Equivalent Balance At the End of the Year |
|
16,706,792 |
|
11,758,994 |
|
|
|
|
|
Cash & Cash Equivalent Comprise |
|
|
|
|
Cash and Balances with Central Bank |
|
7,502,256 |
|
4,796,240 |
Due From Banks |
|
9,279,896 |
|
8,893,670 |
Treasury Bills and Other Governmental Notes |
|
30,539,402 |
|
23,654,812 |
Obligatory Reserve Balance With CBE |
|
(3,497,164) |
|
(3,224,660) |
Due from Banks (Time Deposits) More than Three Months |
|
(5,007,412) |
|
(5,148,331) |
Treasury Bills with Maturity More than Three Months |
|
(22,110,186) |
|
(17,212,737) |
Total Cash & Cash Equivalent |
|
16,706,792 |
|
11,758,994 |
