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Commercial International Bank (Egypt) S.A.E. |
Consolidated Financial Statements |
June 30, 2015 |
|
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|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
|
|
|
|
As of June 30, 2015 |
|
|
|
|
Amounts in EGP Thousands |
Note |
June 30, 2015 |
|
Dec. 31, 2014 |
Assets |
|
|
|
|
|
|
|
|
|
Cash & Balances with Central Bank |
15 |
12,668,642 |
|
7,502,256 |
Due From Banks |
16 |
8,728,922 |
|
9,521,999 |
Treasury Bills & Other Governmental Notes |
17 |
26,569,148 |
|
30,548,890 |
Trading Financial Assets |
18 |
6,006,088 |
|
3,762,718 |
Loans and advances to banks, net |
19 |
34,182 |
|
118,091 |
Loans and advances to customers, net |
20 |
54,525,936 |
|
48,685,630 |
Derivative Financial Instruments |
21 |
76,532 |
|
52,188 |
Financial Investments |
|
|
|
|
Available for Sale |
22 |
37,577,558 |
|
27,702,122 |
Held to Maturity |
22 |
9,763,861 |
|
9,160,746 |
Investments in Associates |
23 |
212,136 |
|
181,661 |
Brokerage Clients-Debit Balances |
|
943,325 |
|
771,611 |
Investment Properties |
24 |
908,393 |
|
884,094 |
Other Assets |
25 |
3,876,599 |
|
3,814,075 |
Deferred Tax Assets |
33 |
224,591 |
|
121,737 |
Property, Plant and Equipment |
26 |
1,032,913 |
|
985,504 |
Total Assets |
|
163,148,826 |
|
143,813,322 |
|
|
|
|
|
Liabilities and Equity |
|
|
|
|
Liabilities |
|
|
|
|
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|
|
|
Due to Banks |
27 |
599,254 |
|
1,131,385 |
Due to Customers |
28 |
142,869,000 |
|
121,974,959 |
Brokerage Clients-Credit Balances |
|
398,643 |
|
360,145 |
Reconciliation Accounts - Credit Balances |
|
24,553 |
|
8,975 |
Derivative Financial Instruments |
21 |
140,748 |
|
137,175 |
Current Tax Obligations |
|
1,130,674 |
|
1,814,609 |
Other Liabilities |
30 |
2,086,753 |
|
2,609,452 |
Long Term Loans |
29 |
205,974 |
|
242,878 |
Other Provisions |
31 |
787,336 |
|
730,312 |
Total Liabilities |
|
148,242,935 |
|
129,009,890 |
|
|
|
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Equity |
|
|
|
|
Issued and Paid Up Capital |
32 |
9,176,482 |
|
9,081,734 |
Reserves |
32 |
3,285,569 |
|
1,908,443 |
Reserve for Employee Stock Ownership Plan (ESOP) |
|
199,970 |
|
177,765 |
Retained Earnings (Losses) |
|
(59,866) |
|
(155,160) |
Total Equity |
|
12,602,155 |
|
11,012,782 |
Net Profit for the Period/Year |
|
2,255,698 |
|
3,741,456 |
Total Equity And Net Profit For Period/Year |
|
14,857,853 |
|
14,754,238 |
Minority Interest |
|
48,038 |
|
49,194 |
Total Minority Interest, Equity and Net Profit for Year |
|
14,905,891 |
|
14,803,432 |
Total Liabilities, Equity and Minority Interest |
|
163,148,826 |
|
143,813,322 |
|
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|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
|
|
|
|
As of June 30, 2015 |
|
|
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|
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|
|
|
Amounts in EGP Thousands |
Note |
June 30, 2015 |
|
June 30, 2014 |
|
|
|
|
|
Interest and Similar Income |
|
6,896,196 |
|
5,265,020 |
Interest and Similar Expenses |
|
(3,115,398) |
|
(2,462,929) |
|
|
|
|
|
Net Interest Income |
6 |
3,780,798 |
|
2,802,091 |
|
|
|
|
|
Fees and Commissions Income |
|
1,061,239 |
|
909,762 |
Fees and Commissions Expense |
|
(122,286) |
|
(82,036) |
Net Fee and Commissions Income |
7 |
938,953 |
|
827,726 |
Dividend Income |
8 |
15,335 |
|
28,493 |
Net Trading Income |
9 |
190,633 |
|
402,021 |
Profit (losses) from Financial Investments |
22 |
158,424 |
|
9,389 |
Administrative Expenses |
10 |
(1,027,434) |
|
(832,921) |
Other operating (Expenses) Income |
11 |
(146,701) |
|
(296,168) |
Impairment (Charge) Release for Credit Losses |
12 |
(648,442) |
|
(359,160) |
Bank's Share in the Profits of Associates |
|
30,475 |
|
17,310 |
Profit Before Income Tax |
|
3,292,041 |
|
2,598,781 |
Income Tax Expense |
13 |
(1,138,985) |
|
(849,921) |
Deferred Tax |
33 & 13 |
102,854 |
|
(10,817) |
Net Profit of The period |
|
2,255,910 |
|
1,738,043 |
Minority Interest |
|
212 |
|
721 |
Bank Shareholders |
|
2,255,698 |
|
1,737,322 |
Earnings per share |
14 |
|
|
|
Basic |
|
2.12 |
|
1.60 |
Diluted |
|
2.09 |
|
1.58 |
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
|
|
|
|
As of June 30, 2015 |
|
|
|
|
Amounts in EGP Thousands |
|
June 30, 2015 |
|
June 30, 2014 |
Cash Flow from Operating Activities |
|
|
|
|
Profit Before Income Tax |
|
3,292,041 |
|
2,598,781 |
Adjustments To Reconcile Net Profit |
|
|
|
|
To Net Cash Provided by Operating Activities |
|
|
|
|
Depreciation |
|
110,349 |
|
104,686 |
Impairment Charges for credit losses |
|
648,442 |
|
359,160 |
Other Provisions Charges |
|
48,144 |
|
102,316 |
Trading Financial Investment Revaluation Differences |
|
276,043 |
|
(42,980) |
Available for sale and held to maturity investments exchange revaluation differences |
|
(69,351) |
|
(38,176) |
Financial Investments Impairment Charge (Release) |
|
(17,226) |
|
8,447 |
Utilization of Other Provisions |
|
(662) |
|
(6,504) |
Exchange Differences of Other Provisions |
|
9,542 |
|
5,411 |
Profits From Selling Property, Plant and Equipment |
|
(798) |
|
(392) |
Profits From Selling Financial Investments |
|
(177,395) |
|
(9,408) |
Shares Based Payments |
|
85,218 |
|
54,630 |
Investments in Associates Revaluation |
|
(30,475) |
|
(17,311) |
Real estate investments revaluation |
|
(24,299) |
|
- |
Operating Profits Before Changes in Operating Assets and Liabilities |
|
4,149,573 |
|
3,118,660 |
|
|
|
|
|
Net Decrease (Increase) in Assets and Liabilities |
|
|
|
|
Due from banks |
` |
(3,812,186) |
|
(3,636,603) |
Treasury Bills and Other Governmental Notes |
|
2,116,239 |
|
953,655 |
Trading Financial Assets |
|
(2,519,413) |
|
(902,208) |
Derivative Financial Instruments |
|
(20,771) |
|
20,374 |
Loans and Advances to Banks and Customers |
|
(6,404,839) |
|
(3,555,450) |
Other Assets |
|
(224,710) |
|
(744,548) |
Due to Banks |
|
(532,131) |
|
(690,043) |
Due to Customers |
|
20,894,041 |
|
14,054,450 |
Income Tax obligations Paid |
|
(1,814,609) |
|
(1,179,709) |
Other Liabilities |
|
(476,934) |
|
275,070 |
Net Cash Provided from Operating Activities |
11,354,260 |
|
7,713,648 |
|
|
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
|
|
|
|
As of June. 30, 2015 |
|
June 30, 2015 |
|
June 30, 2014 |
Cash Flow From Investing Activities |
|
|
|
|
Purchase of Subsidiary and Associates |
|
- |
|
(6,167) |
Purchase of Property, Plant and Equipment |
|
(166,488) |
|
(122,742) |
Redemption of Held-to-Maturity Financial Investments |
|
3,416,433 |
|
3,132 |
Purchases of held to maturity financial investments |
|
(4,019,548) |
|
(4,794,949) |
Purchases of Available for Sale Financial Investments |
|
(13,050,692) |
|
(6,192,434) |
Proceeds from Selling Available For Sale Financial Investments |
|
2,669,457 |
|
2,801,705 |
Purchases of Real Estate Investments |
|
- |
|
5,640 |
Net Cash Generated from (Used in) Investing Activities |
|
(11,150,838) |
|
(8,305,815) |
|
|
|
|
|
Cash Flow From Financing Activities |
|
|
|
|
Increase (Decrease) in Long Term Loans |
|
(36,904) |
|
80,035 |
Dividend Paid |
|
(1,563,646) |
|
(1,253,338) |
Capital Increase |
|
94,748 |
|
79,299 |
Net Cash Generated from (Used in) Financing Activities |
|
(1,505,802) |
|
(1,094,004) |
|
|
|
|
|
Net Increase (Decrease) in Cash and Cash Equivalent during the period |
|
(1,302,380) |
|
(1,686,171) |
Beginning Balance of Cash and Cash Equivalent |
|
15,062,901 |
|
11,991,673 |
Cash and Cash Equivalent Balance At the End of the Period |
|
13,760,521 |
|
10,305,502 |
|
|
|
|
|
Cash and Cash Equivalent Comprise |
|
|
|
|
Cash and Balances with Central Bank |
|
12,668,642 |
|
6,173,381 |
Due From Banks |
|
8,728,922 |
|
11,629,599 |
Treasury Bills and Other Governmental Notes |
|
26,569,148 |
|
20,668,152 |
Obligatory Reserve Balance With CBE |
|
(10,528,028) |
|
(4,298,440) |
Due from Banks (Time Deposits) More than Three Months |
|
(3,684,216) |
|
(7,608,107) |
Treasury Bills With Maturity More than Three months |
|
(19,993,947) |
|
(16,259,083) |
Total Cash & Cash Equivalent |
|
13,760,521 |
|
10,305,502 |
