1st Half 2012 financial statements
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial International Bank (Egypt) S.A.E. |
||||
|
Consolidated Financial Statements |
||||
|
June 30, 2012 |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
||||
|
FINANCIAL POSITION |
|
|
|
|
|
As of June 30, 2012 |
|
|
|
|
|
Amounts in EGP |
Note |
June 30, 2012
|
Dec. 31, 2011
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
Cash & Balances with Central Bank |
15 |
5,542,320,904 |
7,492,064,510 |
|
|
Due From Banks |
16 |
9,880,244,903 |
8,528,229,519 |
|
|
Treasury Bills & Other Governmental Notes |
17 |
9,414,560,183 |
9,260,842,183 |
|
|
Trading Financial Assets |
18 |
1,341,176,357 |
675,325,450 |
|
|
Loans & Advances to Banks |
19 |
1,076,710,388 |
1,395,594,609 |
|
|
Loans & Advances to Customers |
20 |
39,693,994,592 |
39,669,785,864 |
|
|
Derivative Financial Instruments |
21 |
134,310,943 |
146,544,656 |
|
|
Financial Investments |
|
|
|
|
|
Available for Sale |
22 |
15,405,567,958 |
15,421,546,277 |
|
|
Held to Maturity |
22 |
3,673,289,768 |
39,159,520 |
|
|
Investments in Associates |
23 |
122,830,678 |
106,676,167 |
|
|
Brokers-Debit Balances |
|
93,951,742 |
24,185,525 |
|
|
Reconciliation Accounts- Debit Balances |
|
66,953,670 |
42,507,905 |
|
|
Investment Property |
24 |
10,024,686 |
12,774,686 |
|
|
Other Assets |
25 |
2,225,009,016 |
1,534,819,491 |
|
|
Goodwill |
41 |
8,688,759 |
120,280,337 |
|
|
Intangible Assets |
41 |
103,712,954 |
309,353,104 |
|
|
Deferred Tax |
33 |
135,433,764 |
123,977,698 |
|
|
Property, Plant and Equipment |
26 |
672,947,372 |
630,508,089 |
|
|
Total Assets |
|
89,601,728,637 |
85,534,175,590 |
|
|
|
|
|
|
|
|
Liabilities and Equity |
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
Due to Banks |
27 |
1,785,014,708 |
3,340,794,517 |
|
|
Due to Customers |
28 |
76,767,071,626 |
71,467,935,259 |
|
|
Brokers-Credit Balance |
|
174,895,070 |
111,851,855 |
|
|
Derivative Financial Instruments |
21 |
130,111,395 |
114,287,990 |
|
|
Other Liabilities |
30 |
1,451,504,179 |
1,342,736,040 |
|
|
Long Term Loans |
29 |
91,074,960 |
99,333,376 |
|
|
Other Provisions |
31 |
284,001,472 |
270,801,909 |
|
|
|
|
|
|
|
|
Total Liabilities |
|
80,683,673,410 |
76,747,740,946 |
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
Issued and Paid In Capital |
32 |
5,972,275,410 |
5,934,562,990 |
|
|
Reserves |
32 |
2,223,432,742 |
1,387,842,060 |
|
|
Reserve for Employee Stock Ownership Plan (ESOP) |
|
129,828,073 |
137,354,418 |
|
|
Retained Earnings |
|
(482,976,388) |
(334,419,692) |
|
|
Total Equity |
|
7,842,559,837 |
7,125,339,776 |
|
|
Net Profit of the Period/Year After Tax |
|
1,028,139,869 |
1,614,738,322 |
|
|
Total Equity And Net Profit For Period/Year |
|
8,870,699,706 |
8,740,078,098 |
|
|
Minority Interest |
|
47,355,521 |
46,356,546 |
|
|
Total Minority Interest and Equity |
|
8,918,055,227 |
8,786,434,644 |
|
|
Total Liabilities, Equity and Minority Interest |
|
89,601,728,637 |
85,534,175,590 |
|
|
Contingent Liabilities and Commitments |
|
|
|
|
|
Letters of Credit, Guarantees and Other Commitments |
37 |
13,384,316,950 |
12,559,553,516 |
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
||||
|
INCOME STATEMENT |
|
|
|
|
|
As of June 30, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts in EGP. |
Note |
June 30, 2012
|
June 30, 2011
|
|
|
|
|
|
|
|
|
Interest and Similar Income |
|
3,602,430,763 |
2,587,280,676 |
|
|
Interest and Similar Expenses |
|
(1,801,233,932) |
(1,324,813,156) |
|
|
|
|
|
|
|
|
Net Interest Income |
6 |
1,801,196,831 |
1,262,467,520 |
|
|
|
|
|
|
|
|
Fees & Commissions Income |
|
477,424,825 |
447,969,895 |
|
|
Fees and Commissions Expense |
|
(47,766,855) |
(41,227,766) |
|
|
Net Income from Fees and Commissions |
7 |
429,657,970 |
406,742,129 |
|
|
Dividend Income |
8 |
21,744,400 |
57,164,372 |
|
|
Net Trading Income |
9 |
204,616,711 |
226,109,065 |
|
|
Profit from Financial Investments |
22 |
(23,267,142) |
37,166,474 |
|
|
Goodwill Amortization |
|
(1,737,752) |
(20,046,723) |
|
|
Administrative Expenses |
10 |
(756,065,029) |
(712,863,574) |
|
|
Other operating (Expenses) Income |
11 |
(56,004,253) |
(82,045,734) |
|
Impairment Charge for Credit Losses |
12 |
(159,244,620) |
(201,264,786) |
|
Intangible Assets Amortization |
|
(12,699,546) |
(33,733,620) |
|
Bank's Share in the Profits of Associates |
|
(471,111) |
10,896,229 |
|
Net Profit Before Tax |
|
1,447,726,459 |
950,591,353 |
|
|
Income Tax Expense |
13 |
(430,386,683) |
(216,050,496) |
|
|
Deferred Tax |
33 & 13 |
11,456,066 |
16,422,042 |
|
|
Net Profit of The Year |
|
1,028,795,842 |
750,962,898 |
|
|
Minority Interest |
|
655,973 |
167,503 |
|
|
Bank Shareholders |
|
1,028,139,869 |
750,795,396 |
|
|
Earning per share |
14 |
|
|
|
|
Basic |
|
1.78 |
1.31 |
|
Diluted |
|
1.75 |
1.29 |
|
|
|
||||
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
||||
|
CASH FLOW STATEMENT 1a |
|
|
|
|
|
As of June 30, 2012 |
|
|
|
|
|
Amounts in EGP. |
|
June 30, 2012 |
June 30, 2011 |
|
Cash Flow from Operating Activities |
|
|
|
|
|
Net Profit Before Tax |
|
1,447,726,459 |
950,591,353 |
|
|
Adjustments To Reconcile Net Profit To Net Cash Provided by Operating Activities |
|
|||
|
Depreciation |
|
84,143,375 |
102,694,841 |
|
|
Assets Impairment Charges |
|
159,262,715 |
202,892,406 |
|
|
Other Provisions Charges |
|
86,724,165 |
1,204,986 |
|
|
Trading Financial Investment Revaluation Differences |
|
(27,220,349) |
32,976,379 |
|
|
Intangible Assets Amortization |
|
12,699,546 |
33,733,620 |
|
|
Goodwill Amortization |
|
1,737,752 |
20,046,723 |
|
|
Financial Investments Impairment Charge (Release) |
|
10,652,982 |
(49,775,434) |
|
|
Utilization of Other Provisions |
|
(72,300,072) |
(5,218,667) |
|
|
Other Provisions No Longer Used |
|
(531,054) |
(2,085,267) |
|
|
Exchange Differences of Other Provisions |
|
(711,571) |
4,010,666 |
|
|
Profits From Selling Property, Plant and Equipment |
|
(1,633,796) |
(2,661,678) |
|
|
Profits From Selling Financial Investments |
|
(8,415,397) |
(90,782,148) |
|
|
Profits from Selling Associates |
|
- |
(1,873,813) |
|
|
Exchange Differences of Long Term Loans |
(20,812) |
|
||
|
Shares Based Payments |
44,135,782 |
|
||
|
Investments in Associates Revaluation |
|
- |
(11,408,222) |
|
|
Real Estate Investments Impairment Charges |
|
- |
361,200 |
|
|
Operating Profits Before Changes in Operating Assets and Liabilities |
|
1,736,249,725 |
1,231,152,845 |
|
|
|
|
|
|
|
|
Net Decrease (Increase) in Assets and Liabilities |
|
|
|
|
|
Due from banks |
|
(962,784,101) |
(3,090,538,362) |
|
|
Treasury Bills & Other Governmental Notes |
|
(1,601,411,260) |
3,218,771,820 |
|
|
Trading Financial Assets |
|
(638,630,558) |
1,015,597,733 |
|
|
Derivative Financial Instruments |
|
28,057,118 |
(41,476,427) |
|
|
Loans and Advances to Banks and Customers |
|
135,430,874 |
(2,276,256,247) |
|
|
Other Assets |
|
(799,386,923) |
142,114,045 |
|
|
Due to Banks |
|
(1,555,779,809) |
(691,883,640) |
|
|
Due to Customers |
|
5,299,136,367 |
3,923,391,605 |
|
|
Other Liabilities |
|
(258,575,320) |
(622,420,045) |
|
|
Net Cash Provided from Operating Activities |
1,382,306,113 |
|
||
|
|
|
|
|
|
|
|
||||
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
||||
|
CASH FLOW STATEMENT 1b |
|
|
|
|
|
As of June 30, 2012 |
|
June 30, 2012 |
June 30, 2011
|
|
|
Cash Flow From Investing Activities |
|
|
|
|
|
Purchase of Subsidiary and Associates |
|
(16,154,511) |
(11,000,000) |
|
|
Purchases of Property, Plant and Equipment |
|
(109,963,446) |
(61,756,079) |
|
|
Redemption of Held-to-Maturity Financial Investments |
|
- |
170,571,760 |
|
|
Purchases of Held to Maturity Financial Investment |
|
(3,634,130,249) |
- |
|
|
Purchases of Available for Sale Financial Investments |
|
(4,845,384,951) |
(677,660,821) |
|
|
Proceeds from Selling Available For Sale Financial Investments |
|
4,989,103,162 |
- |
|
|
Proceeds from Selling Real Estate Investments |
|
2,750,000 |
- |
|
|
Net Cash Generated from (Used in) Investing Activities |
|
(3,613,779,994) |
(579,845,140) |
|
|
|
|
|
|
|
|
Cash Flow From Financing Activities |
|
|
|
|
|
Increase (Decrease) in Long Term Loans |
|
(8,237,604) |
127,007,982 |
|
|
Dividend Paid |
|
(806,206,518) |
(843,063,191) |
|
|
Capital Increase |
|
37,712,420 |
- |
|
|
Net Cash Generated from (Used in) Financing Activities |
|
(776,731,702) |
(716,055,209) |
|
|
Net Increase (Decrease) in Cash and Cash Equivalent |
|
(3,008,205,583) |
1,512,552,977 |
|
|
Beginning Balance of Cash and Cash Equivalent |
|
8,207,517,133 |
8,058,126,497 |
|
|
Cash & Cash Equivalent Balance At the End of the Period |
|
5,199,311,549 |
9,570,679,474 |
|
|
Cash & Cash Equivalent Comprise |
|
|
|
|
|
Cash and Balances with Central Bank |
|
5,542,320,904 |
6,075,170,048 |
|
|
Due From Banks |
|
9,880,244,903 |
9,812,636,221 |
|
|
Treasury Bills and Other Governmental Notes |
|
9,414,560,183 |
7,047,441,434 |
|
|
Obligatory Reserve Balance With CBE |
|
(3,028,051,899) |
(2,811,219,930) |
|
|
Due from Banks (Time Deposits) More than Three Months |
|
(6,186,983,796) |
(6,680,007036) |
|
|
Treasury Bills With Maturity More than Three months |
|
(10,442,778,746) |
(3,873,341,263) |
|
|
Total Cash & Cash Equivalent |
|
5,199,311,549 |
9,570,679,474 |
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
|
|
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY |
|
|
As of June 30, 2011 |
|
|
June 30, 2011 |
Capital (EGP) |
Legal Reserve (EGP) |
General Reserve (EGP) |
Intangible Assets Value for Bank Share before Acquisition |
Retained Earnings (EGP) |
Special Reserve (EGP) |
Reserve for A.F.S Investment Revaluation Diff. (EGP) |
Banking Risks Reserve (EGP) |
Profits of the period (EGP)
|
Reserve for Employee Stock Ownership Plan ESOP (EGP) |
Total Shareholders Equity(EGP) |
Minority Interest (EGP) |
Total (EGP) |
|
Beginning Balance |
5,901,443,660 |
125,128,337 |
78,412,462 |
302,794,421 |
(203,604,610) |
184,356,569 |
(18,418,736) |
156,992,515 |
1,890,311,700 |
149,520,858 |
8,566,937,115 |
46,965,639 |
8,613,902,754 |
|
Transferred to Reserves |
- |
106,216,559 |
1,066,083,988 |
- |
- |
1,574,746 |
- |
- |
(1,173,875,293) |
- |
- |
- |
- |
|
Transferred to Retained Earnings |
- |
- |
- |
- |
(121,501,406) |
- |
- |
- |
121,501,406 |
- |
- |
- |
- |
|
Dividend paid |
- |
- |
- |
- |
(20,231,298) |
- |
- |
- |
(822,831,893) |
- |
(843,063,191) |
- |
(843,063,191) |
|
Net Profit of the year |
- |
- |
- |
- |
- |
- |
- |
- |
307,944,024 |
- |
307,944,024 |
(75,261) |
307,868,763 |
|
Change During the period |
- |
- |
- |
- |
(1,262,583) |
- |
- |
- |
- |
- |
(1,262,583) |
(102,844) |
(1,365,427) |
|
Financial Investment |
- |
- |
- |
- |
- |
- |
(285,330,326) |
- |
- |
- |
(285,330,326) |
- |
(285,330,326) |
|
Transferred to Bank Risk Reserve |
- |
- |
- |
- |
- |
- |
- |
(2,648,019) |
2,648,019 |
- |
- |
- |
- |
|
Reserve for Employee Stock Ownership Plan ESOP |
- |
- |
- |
- |
- |
- |
- |
- |
- |
20,703,739 |
20,703,739 |
- |
20,703,739 |
|
Balance at the end of the period |
5,901,443,600 |
231,344,896 |
1,144,496,450 |
302,794,421 |
(346,599,897) |
185,931,315 |
(303,749,062) |
154,344,496 |
325,697,963 |
170,224,597 |
7,765,928,778 |
46,787,534 |
7,812,716,312 |
|
June 30, 2012 |
Capital (EGP) |
Legal Reserve (EGP) |
General Reserve (EGP) |
Intangible Assets Value for Bank Share before Acquisition (EGP) |
Retained Earnings (EGP) |
Special Reserves (EGP) |
Reserves for A.F.S Investments Revaluation Diff. (EGP) |
Banking Risk reserve (EGP) |
Profits of the period |
Reserve for Employee Stock ownership plan ESOP |
Total Shareholders Equity |
Minority Interest (EGP) |
Total(EGP) |
|
Beginning Balance |
5,934,562,990 |
231,344,896 |
1,234,122,776 |
302,794,421 |
(334,419,692) |
185,931,315 |
(723,343,863) |
281,689,619 |
1,490,041,219 |
137,354,418 |
8,740,078,098 |
46,356,546 |
8,786,434,644 |
|
Capital Increase |
37,712,420 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
37,712,420 |
- |
37,712,420 |
|
Transferred to Reserves |
- |
87,306,567 |
794,689,187 |
- |
- |
2,716,747 |
- |
- |
(833,050,374) |
(51,662,127) |
- |
- |
- |
|
Transferred to Retained Earnings
|
- |
- |
- |
- |
(134,109,753) |
- |
- |
- |
134,109,753 |
- |
- |
- |
- |
|
Dividend paid
|
- |
- |
- |
- |
(15,105,920) |
- |
- |
- |
(791,100,598) |
- |
(806,206,518) |
- |
(806,206,518) |
|
Net Profit of the Year |
- |
- |
- |
- |
- |
- |
- |
- |
1,028,139,869 |
- |
1,028,139,869 |
655,973 |
1,028,795,842 |
|
Transfer from Special Reserve |
- |
61,697,292 |
8,143,225 |
- |
1,001,979 |
(70,842,496) |
- |
- |
- |
- |
- |
- |
- |
|
Change during the period |
- |
- |
- |
- |
(343,002) |
- |
- |
- |
- |
- |
(343,002) |
343,002
|
- |
|
Addition from Financial |
- |
- |
- |
- |
- |
- |
129,977,478 |
- |
- |
- |
129,977,478 |
- |
129,977,478 |
|
Transferred to Bank Risk Reserve |
- |
- |
- |
- |
- |
- |
- |
(153,575,808) |
153,575,808 |
- |
- |
- |
- |
|
Reserve for Employee Stock Ownership Plan ESOP |
- |
- |
- |
- |
- |
- |
- |
- |
- |
44,135,782 |
44,135,782 |
- |
44,135,782 |
|
Settlement of Intangible Asset value for Bank Share Before Acquisition |
- |
- |
- |
(302,794,421) |
- |
- |
- |
- |
- |
- |
(302,794,421) |
- |
(302,794,421) |
|
Balance at the end of the period |
5,972,275,410
|
380,348,755 |
2,036,955,187 |
- |
(482,976,388) |
117,805,566 |
(593,366,385) |
128,113,811 |
1,181,715,678 |
129,828,073 |
8,870,699,707 |
47,355,521 |
8,918,055,227 |
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/0165K_-2012-8-14.pdf
This information is provided by RNS
COMPANIES COVERED:
Latest directors dealings
- 1 day ago Gran Tierra Energy Inc. (CDI)
- 1 day ago Wheaton Precious Metals Corp.NPV (CDI)
- 1 day ago H&T Group
- 1 day ago Centrica
- 1 day ago Vistry Group