|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial International Bank (Egypt) S.A.E. |
Consolidated Financial Statements |
March 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
|
|
|
|
As of March 31, 2015 |
|
|
|
|
Amounts in EGP Thousands |
Note |
March 31, 2015 |
|
Dec. 31, 2014 |
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
Cash and balances with Central Bank |
15 |
8,842,134 |
|
7,502,256 |
Due from banks |
16 |
9,979,956 |
|
9,521,999 |
Treasury bills and other governmental notes |
17 |
30,680,693 |
|
30,548,890 |
Trading financial assets |
18 |
5,664,441 |
|
3,762,718 |
Loans and advances to banks, net |
19 |
32,267 |
|
118,091 |
Loans and advances to customers, net |
20 |
53,066,183 |
|
48,685,630 |
Derivative financial instruments |
21 |
115,099 |
|
52,188 |
Financial investments |
|
|
|
|
- Available for sale |
22 |
32,229,425 |
|
27,702,122 |
- Held to maturity |
22 |
10,208,841 |
|
9,160,746 |
Investments in associates |
23 |
196,612 |
|
181,661 |
Brokerage clients - debit balances |
|
800,047 |
|
771,611 |
Reconciliation accounts- debit balances |
|
27,711 |
|
- |
Investment properties |
24 |
908,393 |
|
884,094 |
Other assets |
25 |
3,907,096 |
|
3,814,075 |
Deferred tax assets |
33 |
142,167 |
|
121,737 |
Property, plant and equipment |
26 |
1,011,751 |
|
985,504 |
Total assets |
|
157,812,816 |
|
143,813,322 |
Liabilities and equity |
|
|
|
|
Liabilities |
|
|
|
|
Due to banks |
27 |
409,774 |
|
1,131,385 |
Due to customers |
28 |
136,017,007 |
|
121,974,959 |
Brokerage clients - credit balances |
|
214,149 |
|
360,145 |
Reconciliation accounts - credit balances |
|
- |
|
8,975 |
Derivative financial instruments |
21 |
256,295 |
|
137,175 |
Dividends Payable |
|
1,089,808 |
|
- |
Current tax liabilities |
|
542,567 |
|
1,814,609 |
Other liabilities |
30 |
3,794,282 |
|
2,609,452 |
Long term loans |
29 |
214,662 |
|
242,878 |
Other provisions |
31 |
766,047 |
|
730,312 |
Total liabilities |
|
143,304,591 |
|
129,009,890 |
Equity |
|
|
|
|
Issued and paid up capital |
32 |
9,081,734 |
|
9,081,734 |
Reserves |
32 |
4,109,758 |
|
1,908,443 |
Reserve for employee stock ownership plan (ESOP) |
|
220,374 |
|
177,765 |
Retained earnings (losses) |
|
(61,234) |
|
(155,160) |
Total equity |
|
13,350,632 |
|
11,012,782 |
Net profit for the period / year after tax |
|
1,108,166 |
|
3,741,456 |
Total equity and net profit for period / year |
|
14,458,798 |
|
14,754,238 |
Minority interest |
|
49,427 |
|
49,194 |
Total minority interest , equity and net profit for year |
|
14,508,225 |
|
14,803,432 |
Total liabilities , equity and minority interest |
|
157,812,816 |
|
143,813,322 |
|
|
|
|
|
Contingent liabilities and commitments |
|
|
|
|
Letters of credit, guarantees and other commitments |
37 |
27,676,096 |
|
25,309,960 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
|
|
|
|
As of March 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts in EGP. Thousands |
Note |
March 31, 2015 |
|
March 31, 2014 |
|
|
|
|
|
Interest and similar income |
|
3,366,458 |
|
2,561,862 |
Interest and similar expense |
|
(1,510,765) |
|
(1,192,668) |
Net interest income |
6 |
1,855,693 |
|
1,369,194 |
|
|
|
|
|
Fee and commission income |
|
526,427 |
|
410,604 |
Fee and commission expense |
|
(53,576) |
|
(36,852) |
Net fee and commission income |
7 |
472,851 |
|
373,752 |
|
|
|
|
|
Dividend income |
8 |
- |
|
223 |
Net trading income |
9 |
66,733 |
|
152,918 |
Profit (Losses) on financial investments |
22 |
163,823 |
|
3,958 |
Administrative expenses |
10 |
(527,660) |
|
(421,616) |
Other operating (expenses) income |
11 |
9,641 |
|
(151,260) |
Impairment (charge) release for credit losses |
12 |
(420,898) |
|
(184,587) |
Bank's share in the profits of associates |
|
15,442 |
|
7,385 |
Profit before income tax |
|
1,635,625 |
|
1,149,967 |
|
|
|
|
|
Income tax expense |
13 |
(547,656) |
|
(325,968) |
Deferred tax assets |
33 & 13 |
20,430 |
|
(18,335) |
Net profit for the period |
|
1,108,399 |
|
805,664 |
|
|
|
|
|
Minority interest |
|
233 |
|
439 |
Bank shareholders |
|
1,108,166 |
|
805,225 |
Earning per share |
14 |
|
|
|
Basic |
|
1.05 |
|
0.76 |
Diluted |
|
1.03 |
|
0.75 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
|
|
|
|
As of March. 31, 2015 |
|
|
|
|
Amounts in EGP. Thousands |
|
March 31, 2015 |
|
March 31, 2014 |
|
|
|
|
|
Cash flow from operating activities |
|
|
|
|
Profit before income tax |
|
1,635,625 |
|
1,149,967 |
Adjustments to reconcile net profit to net cash provided by operating activities |
|
|
|
|
Depreciation |
|
54,692 |
|
51,491 |
Impairment charge for credit losses |
|
420,898 |
|
184,587 |
Other provisions charges |
|
27,970 |
|
46,175 |
Trading financial investments revaluation differences |
|
95,971 |
|
2,623 |
Available for sale and held to maturity investments exchange revaluation differences |
|
(69,351) |
|
(3,336) |
Financial investments impairment charge (release) |
|
22,868 |
|
423 |
Utilization of other provisions |
|
(155) |
|
(1,716) |
Exchange differences of other provisions |
|
7,920 |
|
444 |
Profits from selling property, plant and equipment |
|
(647) |
|
(73) |
Profits from selling financial investments |
|
(177,242) |
|
(3,973) |
Shares based payments |
|
42,609 |
|
27,315 |
Investments in associates revaluation |
|
(15,442) |
|
(7,495) |
Real estate investments revaluation |
(24,299) |
|
- |
Operating profits before changes in operating assets and liabilities |
|
2,021,417 |
|
1,446,432 |
|
|
|
|
|
Net decrease (increase) in assets and liabilities |
|
|
|
|
Due from banks |
|
(1,637,664) |
|
(763,003) |
Treasury bills and other governmental notes |
|
(3,500,850) |
|
1,349,983 |
Trading financial assets |
|
(1,997,694) |
|
(1,096,699) |
Derivative financial instruments |
|
56,209 |
|
12,601 |
Loans and advances to banks and customers |
|
(4,715,627) |
|
(831,843) |
Other assets |
|
(112,901) |
|
(659,051) |
Due to banks |
|
(721,611) |
|
(497,269) |
Due to customers |
|
14,042,048 |
|
5,875,179 |
Income tax obligations paid |
|
(1,814,609) |
|
(352,316) |
Other liabilities |
|
1,024,770 |
|
1,106,773 |
Net cash provided from operating activities |
|
2,643,488 |
|
5,590,787 |
|
|
|
|
|
|
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
|
|
|
|
As of March. 31, 2015 |
|
March 31, 2015 |
|
March 31, 2014 |
Cash Flow From Investing Activities |
|
|
|
|
Purchase of subsidiary and associates |
|
491 |
|
(4,988) |
Purchases of property, plant and equipment |
|
(116,559) |
|
(67,673) |
Redemption of held to maturity financial investments |
|
2,765,025 |
|
11,697 |
Purchases of held to maturity financial investments |
|
(3,813,120) |
|
- |
Purchases of available for sale financial investments |
|
(5,852,952) |
|
(4,913,752) |
Proceeds from selling available for sale financial investments |
|
1,666,803 |
|
1,494,780 |
Purchases of real estate investments |
|
- |
|
5,640 |
Net cash generated from (used in) investing activities |
|
(5,350,312) |
|
(3,474,296) |
Cash Flow From Financing Activities |
|
|
|
|
Increase (Decrease) in Long Term Loans |
|
(28,216) |
|
9,149 |
Dividend Paid |
|
(473,838) |
|
(1,253,338) |
Capital Increase |
|
- |
|
79,299 |
Net Cash Generated from (Used in) Financing Activities |
|
(502,054) |
|
(1,164,890) |
|
|
|
|
|
Net Increase (Decrease) in Cash and Cash Equivalent during the period |
|
(3,208,878) |
|
951,601 |
Beginning Balance of Cash and Cash Equivalent |
|
15,062,901 |
|
11,991,673 |
Cash & Cash Equivalent Balance At the End of the Period |
|
11,854,023 |
|
12,943,274 |
|
|
|
|
|
Cash & Cash Equivalent Comprise |
|
|
|
|
Cash and Balances with Central Bank |
|
8,842,134 |
|
4,729,830 |
Due From Banks |
|
9,979,956 |
|
10,333,595 |
Treasury Bills and Other Governmental Notes |
|
30,680,693 |
|
22,775,550 |
Obligatory Reserve Balance With CBE |
|
(6,820,947) |
|
(3,071,659) |
Due from Banks (Time Deposits) More than Three Months |
|
(5,216,772) |
|
(5,961,288) |
Treasury Bills With Maturity More than Three months |
|
(25,611,041) |
|
(15,862,754) |
Total Cash & Cash Equivalent |
|
11,854,023 |
|
12,943,274 |
