|
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/5446L_-2017-7-19.pdf
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial International Bank (Egypt) S.A.E. Separate Financial Statements June 30th , 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL POSITION |
|
|
|
As of June 30th , 2017 |
|
|
|
Amounts in EGP Thousands |
Note |
June 30, 2017 |
December 31, 2016 |
Assets |
|
|
|
Cash and balances with central bank |
15 |
19,497,893 |
10,522,040 |
Due from banks |
16 |
58,552,276 |
58,011,034 |
Treasury bills and other governmental notes |
17 |
43,092,546 |
39,177,184 |
Trading financial assets |
18 |
1,531,630 |
2,445,134 |
Loans and advances to banks, net |
19 |
367 |
159,651 |
Loans and advances to customers, net |
20 |
91,221,870 |
85,991,914 |
Derivative financial instruments |
21 |
57,218 |
269,269 |
Financial investments |
|
|
|
- Available for sale |
22 |
6,840,040 |
5,447,291 |
- Held to maturity |
22 |
48,489,487 |
53,924,936 |
Investments in associates |
23 |
9,750 |
10,500 |
Non current assets held for sale |
42 |
222,665 |
428,011 |
Other assets |
24 |
6,150,001 |
5,446,025 |
Intangible assets |
41 |
434,027 |
499,131 |
Deferred tax assets (Liabilities) |
32 |
178,253 |
181,308 |
Property, plant and equipment |
25 |
1,355,916 |
1,338,629 |
Total assets |
|
277,633,939 |
263,852,057 |
Liabilities and equity |
|
|
|
Liabilities |
|
|
|
Due to banks |
26 |
1,585,589 |
3,008,996 |
Due to customers |
27 |
245,162,646 |
231,965,312 |
Derivative financial instruments |
21 |
156,580 |
331,091 |
Current tax liabilities |
|
1,249,710 |
2,017,034 |
Other liabilities |
29 |
3,654,428 |
3,579,330 |
Long term loans |
28 |
146,287 |
160,243 |
Other provisions |
30 |
1,558,854 |
1,514,057 |
Total liabilities |
|
253,514,094 |
242,576,063 |
Equity |
|
|
|
Issued and paid up capital |
31 |
11,618,011 |
11,538,660 |
Reserves |
34 |
8,543,172 |
3,443,319 |
Reserve for employee stock ownership plan (ESOP) |
|
351,790 |
343,460 |
Total equity |
|
20,512,973 |
15,325,439 |
Net profit for the period/year |
|
3,606,872 |
5,950,555 |
Total equity and net profit for the period/ year |
|
24,119,845 |
21,275,994 |
Total liabilities and equity |
|
277,633,939 |
263,852,057 |
|
|
|
|
|
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
|
As of June 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
Amounts in EGP Thousands |
Note |
June 30, 2017 |
June 30, 2016 |
|
|
|
|
Interest and similar income |
|
13,197,728 |
8,595,146 |
Interest and similar expense |
|
(7,454,779) |
(4,061,260) |
Net interest income |
6 |
5,742,949 |
4,533,886 |
Fee and commission income |
|
1,317,034 |
937,206 |
Fee and commission expense |
|
(267,157) |
(173,523) |
Net fee and commission income |
7 |
1,049,877 |
763,683 |
Dividend income |
8 |
26,136 |
28,911 |
Net trading income |
9 |
620,594 |
408,523 |
Profits on financial investments |
22 |
323,564 |
59,058 |
Administrative expenses |
10 |
(1,500,726) |
(1,204,462) |
Other operating (expenses) income |
11 |
(528,307) |
(316,881) |
Goodwill impairment |
41 |
- |
(21,707) |
Intangible assets amortization |
41 |
(65,104) |
(65,104) |
Impairment charge for credit losses |
12 |
(809,346) |
(503,979) |
Profit before income tax |
|
4,859,637 |
3,681,928 |
|
|
|
|
Income tax expense |
13 |
(1,249,710) |
(957,424) |
Deferred tax assets (Liabilities) |
32 & 13 |
(3,055) |
4,893 |
Net profit for the Period |
|
3,606,872 |
2,729,397 |
|
|
|
|
Earnings per share |
14 |
|
|
Basic |
|
2.75 |
2.08 |
Diluted |
|
2.71 |
2.05 |
|
|
|
|
|
|
|
|
CASH FLOW STATEMENT As of June 30, 2017 |
|
|
|
|
Amounts in EGP Thousands |
|
|
|
|
|
June 30, 2017 |
June 30, 2016 |
Cash flow from operating activities |
|
|
|
Profit before income tax |
|
4,859,637 |
3,681,928 |
Adjustments to reconcile net profit to net cash provided by operating activities |
|
|
|
Fixed assets depreciation |
|
170,012 |
134,956 |
Impairment charge for credit losses |
|
809,346 |
503,979 |
Other provisions charges |
|
148,424 |
51,547 |
Trading financial investments revaluation differences |
|
(129,484) |
124,229 |
Available for sale and held to maturity investments exchange revaluation differences |
|
26,389 |
(263,567) |
Goodwill impairment |
|
- |
21,707 |
Intangible assets amortization |
|
65,104 |
65,104 |
Financial investments impairment charge |
|
(121,734) |
52,614 |
Utilization of other provisions |
|
(21,939) |
(1,800) |
Other provisions no longer used |
|
(97,879) |
(37,312) |
Exchange differences of other provisions |
|
16,191 |
58,501 |
Profits from selling property, plant and equipment |
|
- |
(537) |
Profits from selling financial investments |
|
101,465 |
(16,243) |
Profits (losses) from selling associates |
|
- |
(84,948) |
Shares based payments |
|
153,340 |
97,321 |
Impairment (Released) charges of non-current assets held for sale |
|
(312,584) |
- |
Operating profits before changes in operating assets and liabilities |
|
5,666,288 |
4,387,479 |
Net decrease (increase) in assets and liabilities |
|
|
|
Due from banks |
|
(6,167,220) |
(608,433) |
Treasury bills and other governmental notes |
|
(4,707,972) |
5,366,184 |
Trading financial assets |
|
1,042,988 |
1,926,279 |
Derivative financial instruments |
|
37,540 |
(92,958) |
Loans and advances to banks and customers |
|
(5,880,018) |
(4,359,858) |
Other assets |
|
(563,155) |
551,657 |
Non-Current Assets Held for Sale |
|
205,346 |
- |
Due to banks |
|
(1,423,407) |
(236,908) |
Due to customers |
|
13,197,334 |
14,318,023 |
Income tax obligations paid |
|
(2,017,034) |
(1,949,694) |
Other liabilities |
|
75,098 |
219,345 |
Net cash provided from operating activities |
|
(534,212) |
19,521,116 |
|
|
|
|
Cash flow from investing activities |
|
|
|
Proceeds from selling subsidiary and associates |
|
750 |
160,003 |
Payment for purchases of property, plant, equipment and branches constructions |
|
(328,120) |
(333,546) |
Proceeds from redemption of held to maturity financial investments |
|
10,030,359 |
2,671 |
Payment for purchases of held to maturity financial investments |
|
(4,594,910) |
(1,856,288) |
Payment for purchases of available for sale financial investments |
|
(1,916,162) |
(2,703,756) |
Proceeds from selling available for sale financial investments |
|
683,505 |
2,670,755 |
Proceeds from selling non-current assets held for sale |
|
500,867 |
- |
Net cash used in investing activities |
|
4,376,289 |
(2,060,161) |
|
|
|
|
Cash flow from financing activities |
|
|
Increase (decrease) in long term loans |
(13,956) |
13,524 |
Dividend paid |
(1,350,207) |
(1,463,450) |
Capital Increase |
|
79,351 |
68,057 |
Net cash used in financing activities |
|
(1,284,812) |
(1,381,869) |
Net increase (decrease) in cash and cash equivalent during the period |
|
2,557,265 |
16,079,086 |
Beginning balance of cash and cash equivalent |
|
61,518,700 |
22,397,171 |
Cash and cash equivalent at the end of the period |
|
64,075,965 |
38,476,257 |
|
|
|
|
Cash and cash equivalent comprise: |
|
|
|
Cash and balances with central bank |
|
19,497,893 |
11,251,951 |
Due from banks |
|
58,552,276 |
36,100,865 |
Treasury bills and other governmental notes |
|
43,092,546 |
16,949,949 |
Obligatory reserve balance with CBE |
|
(10,832,277) |
(8,412,172) |
Due from banks with maturities more than three months |
|
(3,339,073) |
(464,462) |
Treasury bills with maturity more than three months |
|
(42,895,400) |
(16,949,874) |
Total cash and cash equivalent |
|
64,075,965 |
38,476,257 |
|
|
|
|
|
|
|
|
|
|
|
