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Commercial International Bank (Egypt) S.A.E. |
Separate Financial Statements |
December 31, 2015 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
FINANCIAL POSITION |
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As of December 31, 2015 |
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Note |
Dec.31, 2015 |
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Dec. 31 ,2014 |
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EGP Thousands |
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EGP Thousands |
Assets |
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Cash and Balances with Central Bank |
15 |
9,848,954 |
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7,502,256 |
Due From Banks |
16 |
21,002,305 |
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9,279,896 |
Treasury Bills and Other Governmental Notes |
17 |
22,130,170 |
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30,539,402 |
Trading Financial Assets |
18 |
5,848,377 |
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3,727,571 |
Loans and Advances to Banks, net |
19 |
38,443 |
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118,091 |
Loans and Advances to Customers, net |
20 |
57,172,705 |
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49,279,817 |
Derivative Financial Instruments |
21 |
80,995 |
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52,188 |
Financial Investments |
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Available for Sale |
22 |
46,289,075 |
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27,688,410 |
Held to Maturity |
22 |
9,261,220 |
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9,160,746 |
Investments in Subsidiary and Associates |
23 |
12,600 |
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564,686 |
Non-current assets held for sale |
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503,066 |
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- |
Investment Properties |
24 |
- |
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884,094 |
Other Assets |
25 |
4,799,937 |
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3,745,362 |
Goodwill |
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209,842 |
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- |
Intangible Assets |
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629,340 |
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- |
Deferred Tax Assets (Liabilities) |
33 |
258,157 |
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122,110 |
Property, Plant and Equipment |
26 |
1,107,905 |
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982,296 |
Total Assets |
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179,193,091 |
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143,646,925 |
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Liabilities and Equity |
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Liabilities |
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Due to Banks |
27 |
1,600,769 |
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1,131,385 |
Due to Customers |
28 |
155,369,922 |
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122,244,933 |
Derivative Financial Instruments |
21 |
145,735 |
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137,175 |
Current Tax Liabilities |
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1,949,694 |
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1,814,609 |
Other Liabilities |
30 |
2,622,269 |
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2,541,965 |
Long Term Loans |
29 |
131,328 |
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242,878 |
Other Provisions |
31 |
861,761 |
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718,356 |
Total Liabilities |
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162,681,478 |
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128,831,301 |
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Equity |
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Issued and Paid- in Capital |
32 |
11,470,603 |
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9,081,734 |
Reserves |
32 |
152,144 |
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1,908,594 |
Reserve for Employee Stock Ownership Plan (ESOP) |
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248,148 |
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177,766 |
Total Equity |
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11,870,895 |
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11,168,094 |
Net Profit f the Year |
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4,640,718 |
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3,647,530 |
Total Equity and Net Profit for the Year |
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16,511,613 |
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14,815,624 |
Total Liabilities and Equity |
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179,193,091 |
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143,646,925 |
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
INCOME STATEMENT |
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As of December 31, 2015 |
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Note |
Dec. 31, 2015 |
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Dec. 31, 2014 |
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EGP Thousands |
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EGP Thousands |
Interest and Similar Income |
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14,765,337 |
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11,549,834 |
Interest and Similar Expense |
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(6,650,008) |
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(5,274,133) |
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Net Interest Income |
6 |
8,115,329 |
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6,275,701 |
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Fee and Commissions Income |
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1,932,054 |
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1,669,224 |
Fee and Commissions Expense |
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(299,696) |
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(181,498) |
Net fee and commission income |
7 |
1,632,358 |
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1,487,726 |
Dividend Income |
8 |
35,062 |
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28,514 |
Net Trading Income |
9 |
710,398 |
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717,001 |
Profit (Losses) on Financial Investments |
22 |
270,998 |
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(29,335) |
Administrative Expenses |
10 |
(2,028,404) |
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(1,704,500) |
Other Operating (Expenses) Income |
11 |
(570,000) |
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(762,529) |
Goodwill Amortization |
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(7,236) |
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- |
Intangible Assets Amortization |
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(21,701) |
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- |
Impairment Charge for Credit Losses |
12 |
(1,682,439) |
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(588,794) |
Net Profit before Income Tax |
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6,454,365 |
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5,423,784 |
Income Tax Expense |
13 |
(1,949,694) |
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(1,814,609) |
Deferred Tax Assets (Liabilities) |
33 & 13 |
136,047 |
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38,355 |
Net Profit for the Year |
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4,640,718 |
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3,647,530 |
Earnings per share |
14 |
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Basic |
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3.58 |
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2.81 |
Diluted |
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3.53 |
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2.78 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1a |
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As of December 31, 2015 |
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Dec. 31, 2015 |
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Dec. 31, 2014 |
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EGP Thousands |
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EGP Thousands |
Cash Flow From Operating Activities |
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Profit Before Income Tax |
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6,454,365 |
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5,423,784 |
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities |
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Fixed Assets Depreciation |
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223,510 |
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213,771 |
Impairment Charges for credit losses |
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1,682,439 |
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588,794 |
Other Provisions Charges |
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135,866 |
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278,514 |
Trading Financial Investment Revaluation Differences |
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353,590 |
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(4,468) |
Available for sale and held to maturity investments exchange revaluation differences |
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(96,638) |
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(38,176) |
Available for sale and held to maturity investments exchange revaluation differences |
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7,236 |
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Goodwill Amortization |
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21,701 |
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- |
Intangible Assets Amortization |
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Financial Investments Impairment Charge |
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140,751 |
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65,736 |
Utilization of Other Provisions |
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(5,286) |
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(6,600) |
Other Provisions No Longer Used |
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(505) |
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(456) |
Exchange Differences of Other Provisions |
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13,330 |
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(3,857) |
Profits From Selling Property, Plant and Equipment |
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(564) |
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(2,106) |
Profits From Selling Financial Investments |
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(163,270) |
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(82,907) |
Profits From Selling Associates |
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(285,431) |
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Share Based Payments |
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133,395 |
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99,857 |
Investments in Subsidiary and Associates Revaluation |
- |
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52,479 |
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Operating Profits Before Changes in Operating Assets and Liabilities |
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8,614,489 |
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6,584,365 |
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Net Decrease (Increase) in Assets and Liabilities |
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Due from banks |
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(13,346,529) |
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(2,130,064) |
Treasury Bills and Other Governmental Notes |
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5,497,825 |
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(4,897,448) |
Trading Financial Assets |
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(2,474,396) |
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(1,476,755) |
Derivative Financial Instruments |
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(20,247) |
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73,193 |
Loans and Advances to Banks and Customers |
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(9,495,679) |
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(8,016,328) |
Other Assets |
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(1,042,543) |
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(845,028) |
Goodwill |
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(217,078) |
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Intangible Assets |
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(651,041) |
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Due to Banks |
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469,384 |
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(242,025) |
Due to Customers |
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33,124,989 |
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25,304,663 |
Income Tax Obligation Paid |
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(1,814,609) |
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(1,179,709) |
Other Liabilities |
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80,304 |
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1,095,918 |
Net Cash Provided from Operating Activities |
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18,724,869 |
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14,270,782 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
CASH FLOW STATEMENT 1b |
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As of December 31, 2015 |
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Dec. 31, 2015 |
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Dec. 31, 2014 |
Cash Flow From Investing Activities |
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Payment for purchase of subsidiary and associates |
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- |
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(17,888) |
Proceeds from selling subsidiary and associates |
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334,451 |
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Payment for purchases of property, plant, equipment and branches constructions |
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(360,587) |
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(240,265) |
Proceeds from redemption of held to maturity financial investments |
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3,919,074 |
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Payment for purchases of held to maturity financial investments |
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(4,019,548) |
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(4,973,572) |
Payment for purchases of available for sale financial investments |
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(25,392,460) |
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(9,080,132) |
Proceeds from selling available for sale financial investments |
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5,301,726 |
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4,937,801 |
Proceeds (payments) from real estate investments |
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884,094 |
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(884,094) |
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Net Cash Used in Investing Activities |
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(19,333,250) |
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(10,258,150) |
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Cash Flow From Financing Activities |
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Increase (Decrease) in Long Term Loans |
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(111,550) |
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110,725 |
Dividend Paid |
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(1,563,646) |
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(1,253,338) |
Capital Increase |
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94,748 |
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79,299 |
Net Cash Used in Financing Activities |
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(1,580,448) |
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(1,063,314) |
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Net Increase (Decrease) in Cash and Cash Equivalent during the year |
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(2,188,829) |
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2,949,318 |
Beginning Balance of Cash and Cash Equivalent |
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14,811,360 |
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11,862,042 |
Cash and Cash Equivalent At the End of the Year |
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12,622,531 |
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14,811,360 |
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Cash & Cash Equivalent Comprise: |
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Cash and Balances with Central Bank |
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9,848,954 |
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7,502,256 |
Due From Banks |
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21,002,305 |
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9,279,896 |
Treasury Bills and Other Governmental Notes |
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22,130,170 |
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30,539,402 |
Obligatory Reserve Balance With CBE |
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(8,268,202) |
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(5,392,596) |
Due from Banks with Maturities More than Three Months |
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(15,478,335) |
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(5,007,412) |
Treasury Bills with Maturity More than Three Months |
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(16,612,361) |
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(22,110,186) |
Total Cash and Cash Equivalent |
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12,622,531 |
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14,811,360 |
