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Commercial International Bank (Egypt) S.A.E. |
Consolidated Financial Statements |
September 30, 2015 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
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As of September 30, 2015 |
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Amounts in EGP Thousands. |
Note |
Sep. 30, 2015 |
|
Dec. 31, 2014 |
Assets |
|
|
|
|
|
|
|
|
|
Cash & Balances with Central Bank |
15 |
9,230,657 |
|
7,502,256 |
Due From Banks |
16 |
15,882,704 |
|
9,521,999 |
Treasury Bills & Other Governmental Notes |
17 |
28,544,522 |
|
30,548,890 |
Trading Financial Assets |
18 |
6,401,833 |
|
3,762,718 |
Loans & Advances to Banks, net |
19 |
44,946 |
|
118,091 |
Loans & Advances to Customers, net |
20 |
57,210,479 |
|
48,685,630 |
Derivative Financial Instruments |
21 |
77,773 |
|
52,188 |
Financial Investments |
|
|
|
|
Available for Sale |
22 |
43,333,157 |
|
27,702,122 |
Held to Maturity |
22 |
9,262,579 |
|
9,160,746 |
Investments in Associates |
23 |
231,578 |
|
181,661 |
Brokerage Clients-Debit Balances |
|
781,059 |
|
771,611 |
Reconciliation Accounts- Debit Balances |
|
2,902 |
|
- |
Investment Properties |
24 |
- |
|
884,094 |
Other Assets |
25 |
4,200,648 |
|
3,814,075 |
Deferred Tax Assets |
33 |
209,883 |
|
121,737 |
Property, Plant and Equipment |
26 |
1,003,029 |
|
985,504 |
Total Assets |
|
176,417,749 |
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143,813,322 |
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Liabilities and Equity |
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Liabilities |
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Due to Banks |
27 |
930,072 |
|
1,131,385 |
Due to Customers |
28 |
154,320,428 |
|
121,974,959 |
Brokerage clients-Credit Balances |
|
255,145 |
|
360,145 |
Reconciliation accounts - credit balances |
|
- |
|
8,975 |
Derivative Financial Instruments |
21 |
56,362 |
|
137,175 |
Current Tax Liabilities |
|
1,437,339 |
|
1,814,609 |
Other Liabilities |
30 |
2,541,666 |
|
2,609,452 |
Long Term Loans |
29 |
168,456 |
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242,878 |
Other Provisions |
31 |
862,792 |
|
730,312 |
Total Liabilities |
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160,572,260 |
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129,009,890 |
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Equity |
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Issued and Paid up Capital |
32 |
9,176,482 |
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9,081,734 |
Reserves |
32 |
2,854,740 |
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1,908,443 |
Reserve for Employee Stock Ownership Plan (ESOP) |
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242,579 |
|
177,765 |
Retained losses |
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(59,866) |
|
(155,160) |
Total Equity |
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12,213,935 |
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11,012,782 |
Net Profit of the Period/Year |
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3,583,355 |
|
3,741,456 |
Total Equity And Net Profit For Period/Year |
|
15,797,290 |
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14,754,238 |
Minority Interest |
|
48,199 |
|
49,194 |
Total minority interest , equity and net profit for period /year |
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15,845,489 |
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14,803,432 |
Total liabilities, equity, minority interest and net profit for period /year |
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176,417,749 |
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143,813,322 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
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As of September 30, 2015 |
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Amounts in EGP Thousands. |
Note |
Sep. 30, 2015 |
|
Sep. 30, 2014 |
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Interest and Similar Income |
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10,702,801 |
|
8,201,901 |
Interest and Similar Expenses |
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(4,837,436) |
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(3,838,998) |
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Net Interest Income |
6 |
5,865,365 |
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4,362,903 |
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Fees and Commission Income |
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1,570,457 |
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1,377,102 |
Fees and Commission Expense |
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(200,006) |
|
(127,327) |
Net Fees and Commissions Income |
7 |
1,370,451 |
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1,249,775 |
Dividend Income |
8 |
36,283 |
|
28,495 |
Net Trading Income |
9 |
437,225 |
|
576,675 |
Profit (losses) from Financial Investments |
22 |
158,337 |
|
73,876 |
Administrative Expenses |
10 |
(1,527,590) |
|
(1,302,269) |
Other operating (Expenses) Income |
11 |
(336,787) |
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(487,391) |
Impairment (Charge) Release for Credit Losses |
12 |
(1,120,280) |
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(466,534) |
Bank's Share in the Profits of Associates |
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49,917 |
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23,578 |
Profit Before Income Tax |
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4,932,921 |
|
4,059,108 |
Income Tax Expense |
13 |
(1,437,339) |
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(1,349,099) |
Deferred Tax |
33 & 13 |
88,146 |
|
121 |
Net Profit for The Period |
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3,583,728 |
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2,710,130 |
Minority Interest |
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373 |
|
1,163 |
Bank Shareholders |
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3,583,355 |
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2,708,967 |
Earnings per share |
14 |
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Basic |
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3.39 |
|
2.53 |
Diluted |
|
3.33 |
|
2.48 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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As of September 30, 2015 |
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Amounts in EGP Thousands. |
|
Sep. 30, 2015 |
|
Sep. 30, 2014 |
Cash Flow from Operating Activities |
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Profit Before Income Tax |
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4,932,921 |
|
4,059,108 |
Adjustments To Reconcile Net Profit To Net Cash Provided by Operating Activities |
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Depreciation |
|
168,497 |
|
161,169 |
Impairment Charges for credit losses |
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1,120,280 |
|
466,534 |
Other Provisions Charges |
|
118,158 |
|
120,713 |
Trading Financial Investment Revaluation Differences |
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361,086 |
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(35,997) |
Available for sale and held to maturity investments exchange revaluation differences |
|
(96,639) |
|
(38,176) |
Financial Investments Impairment Charge (Release) |
|
(28,083) |
|
1,505 |
Utilization of Other Provisions |
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(4,682) |
|
(5,931) |
Exchange Differences of Other Provisions |
|
19,004 |
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(951) |
Profits From Selling Property, Plant and Equipment |
|
(1,127) |
|
(689) |
Profits From Selling Financial Investments |
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(161,897) |
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(74,968) |
Shares Based Payments |
|
127,827 |
|
81,945 |
Investments in Associates Revaluation |
(49,917) |
|
(23,579) |
Operating Profits Before Changes in Operating Assets and Liabilities |
|
6,505,428 |
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4,710,683 |
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Net Decrease (Increase) in Assets and Liabilities |
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|
|
|
Due from banks |
|
(7,329,262) |
|
(5,325,461) |
Treasury Bills and Other Governmental Notes |
|
2,335,423 |
|
(3,085,888) |
Trading Financial Assets |
|
(3,000,201) |
|
(1,203,386) |
Derivative Financial Instruments |
|
(106,398) |
|
28,381 |
Loans and Advances to Banks and Customers |
|
(9,571,984) |
|
(4,702,710) |
Other Assets |
|
(345,895) |
|
(966,946) |
Due to Banks |
|
(201,313) |
|
204,357 |
Due to Customers |
|
32,345,469 |
|
19,021,159 |
Income Tax Obligations Paid |
|
(1,814,609) |
|
(1,179,709) |
Other Liabilities |
|
(181,761) |
|
1,102,935 |
Net Cash Provided from Operating Activities |
18,634,897 |
|
8,603,415 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
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As of September 30, 2015 |
|
Sep. 30, 2015 |
|
Sep. 30, 2014 |
Cash Flow From Investing Activities |
|
|
|
|
Purchase of Subsidiary and Associates |
|
- |
|
(6,167) |
Purchases of Property, Plant and Equipment |
|
(237,923) |
|
(195,854) |
Redemption of Held to Maturity Financial Investments |
|
3,917,715 |
|
2,473 |
Purchases of Held to Maturity Financial Investments |
|
(4,019,548) |
|
(4,794,948) |
Purchases of Available for Sale Financial Investments |
|
(21,237,674) |
|
(6,849,950) |
Proceeds from Selling Available For Sale Financial Investments |
|
4,692,659 |
|
4,970,874 |
Proceeds from Selling Real Estate Investments |
|
884,094 |
|
5,640 |
Net Cash Generated from (Used in) Investing Activities |
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(16,000,677) |
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(6,867,932) |
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Cash Flow From Financing Activities |
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|
|
|
Increase (Decrease) in Long Term Loans |
|
(74,422) |
|
98,725 |
Dividend Paid |
|
(1,563,646) |
|
(1,253,338) |
Capital Increase |
|
94,748 |
|
79,299 |
Net Cash Generated from (Used in) Financing Activities |
|
(1,543,320) |
|
(1,075,314) |
Net Increase (Decrease) in Cash and Cash Equivalent During the Period |
|
1,090,900 |
|
660,169 |
Beginning Balance of Cash and Cash Equivalent |
|
15,062,901 |
|
11,991,673 |
Cash and Cash Equivalent At the End of the Period |
|
16,153,801 |
|
12,651,842 |
Cash & Cash Equivalent Comprise |
|
|
|
|
Cash and Balances with Central Bank |
|
9,230,657 |
|
6,611,568 |
Due From Banks |
|
15,882,704 |
|
13,341,202 |
Treasury Bills and Other Governmental Notes |
|
28,544,522 |
|
26,584,368 |
Obligatory Reserve Balance With CBE |
|
(7,032,352) |
|
(4,508,216) |
Due from Banks (Time Deposits) More than Three Months |
|
(10,696,968) |
|
(9,078,455) |
Treasury Bills With Maturity More than Three months |
|
(19,774,762) |
|
(20,298,625) |
Total Cash & Cash Equivalent |
|
16,153,801 |
|
12,651,842 |
