1st Half 2015 Unconsolidated Financial Statements

RNS Number : 4867U

Commercial Intnl Bank (Egypt) SAE

30 July 2015

 

Commercial International Bank (Egypt) S.A.E.
Unconsolidated Financial Statements
June 30,  2015
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	8,426,970		9,279,896
Treasury Bills and Other Governmental Notes	17	26,567,156		30,539,402
Trading Financial Assets	18	5,957,488		3,727,571
Loans and advances to banks, net	19	34,182		118,091
Loans and advances to customers, net	20	55,214,730		49,279,817
Derivative Financial Instruments	21	76,532		52,188
Financial Investments
Available for Sale	22	37,560,629		27,688,410
Held to Maturity	22	9,763,861		9,160,746
Investments in Subsidiary and Associates	23	564,686		564,686
Investment  Properties	24	908,393		884,094
Other Assets	25	3,790,285		3,745,362
Deferred Tax Assets	33	223,197		122,110
Property, Plant and Equipment	26	1,030,979		982,296
Total Assets		162,787,730		143,646,925
Liabilities and Equity
Liabilities
Due to Banks	27	599,254		1,131,385
Due to Customers	28	143,015,402		122,244,933
Derivative Financial Instruments	21	140,748		137,175
Dividends Payable		-		-
Current Tax Liabilities		1,130,674		1,814,609
Other Liabilities	30	2,063,304		2,541,965
Long Term Loans	29	205,974		242,878
Other Provisions	31	771,454		718,356
Total Liabilities		147,926,810		128,831,301
Equity
Issued and Paid Up Capital	32	9,176,482		9,081,734
Reserves	32	3,285,720		1,908,594
Reserve for Employee Stock Ownership Plan (ESOP)		199,971		177,766
Total Equity		12,662,173		11,168,094
Net Profit for the Period/Year		2,198,747		3,647,530
Total Equity And Net Profit For Period/Year		14,860,920		14,815,624
Total Liabilities, Equity and Minority Interest		162,787,730		143,646,925
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME  STATEMENT
As of June 30, 2015
Amounts in EGP Thousands	Note	June 30, 2015		June 30, 2014
Interest and Similar Income		6,917,409		5,268,734
Interest and Similar Expenses		(3,109,039)		(2,462,911)
Net Interest Income	6	3,808,370		2,805,823
Fees and Commissions Income		924,302		763,978
Fees and Commissions Expense		(122,286)		(80,233)
Net Fee and Commissions Income	7	802,016		683,745
Dividend Income	8	14,367		28,356
Net Trading Income	9	190,441		399,639
Profit (losses) from Financial Investments	22	158,424		9,379
Administrative Expenses	10	(952,386)		(757,887)
Other operating (Expenses) Income	11	(144,456)		(292,909)
Impairment (Charge) Release for Credit Losses	12	(648,442)		(359,160)
Profit Before Income Tax		3,228,334		2,516,986
Income Tax Expense	13	(1,130,674)		(843,785)
Deferred Tax	33 & 13	101,087		(10,198)
Net Profit for The period		2,198,747		1,663,003
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		3,228,334		2,516,986
Adjustments To Reconcile Net Profit
To Net Cash Provided by Operating Activities
Depreciation		107,181		102,925
Impairment  Charges for credit losses		648,442		359,160
Other Provisions Charges		44,094		98,156
Trading Financial Investment Revaluation Differences		270,246		(42,020)
Available for sale and held to maturity investments exchange revaluation differences		(69,351)		(38,176)
Financial Investments Impairment Charge (Release)		(17,226)		8,436
Utilization of Other Provisions		(538)		(6,306)
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)		(9,387)
Shares Based Payments		85,218		54,630
Investments in Associates Revaluation		-		(1)
Real estate investments revaluation		(24,299)		-
Operating Profits Before Changes in Operating Assets and Liabilities		4,103,450		3,049,422
Net Decrease (Increase) in Assets and Liabilities
Due from banks	`	(3,812,236)		(3,636,603)
Treasury Bills and Other Governmental Notes		2,116,239		953,655
Trading Financial Assets		(2,500,163)		(973,902)
Derivative Financial Instruments		(20,771)		20,374
Loans and Advances to Banks and Customers		(6,499,446)		(3,791,450)
Other Assets		(35,440)		(390,244)
Due to Banks		(532,131)		(690,043)
Due to Customers		20,770,469		14,224,920
Income Tax obligations Paid		(1,814,609)		(1,179,709)
Other Liabilities		(478,661)		(7,025)
Net Cash Provided from Operating Activities		11,296,701		7,579,395
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		-		(7,178)
Purchase of Property, Plant and Equipment		(164,549)		(122,003)
Redemption of Held-to-Maturity Financial Investments		3,416,433		3,132
Purchases of held to maturity financial investments		(4,019,548)		(4,804,952)
Purchases of Available for Sale Financial Investments		(13,050,692)		(6,195,277)
Proceeds from Selling Available For Sale Financial Investments		2,672,674		2,801,684
Purchases of Real Estate Investments		-		5,640
Net Cash Generated from (Used in) Investing  Activities		(11,145,682)		(8,318,954)
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		(1,354,783)		(1,833,563)
Beginning Balance of Cash and Cash Equivalent		14,811,360		11,862,042
Cash and Cash Equivalent Balance At the End of the Period		13,456,577		10,028,479
Cash and Cash Equivalent Comprise:
Cash and Balances with Central Bank		12,668,642		6,135,522
Due From Banks		8,426,970		11,397,564
Treasury Bills and Other Governmental Notes		26,567,156		20,661,024
Obligatory Reserve Balance With CBE		(10,528,028)		(4,298,440)
Due from Banks (Time Deposits) More than Three Months		(3,684,216)		(7,608,108)
Treasury Bills With Maturity More than Three months		(19,993,947)		(16,259,083)
Total Cash & Cash Equivalent		13,456,577		10,028,479

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY
As of June. 30, 2014

June. 30, 2014	Issued and Paid Up Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Special Reserve (EGP)	Reserve for A.F.S Investment Revaluation Diff. (EGP)	Banking Risks Reserve (EGP)	Net Profit for the period (EGP)	Reserve for Employee Stock Ownership Plan (EGP)	Total (EGP)
Beginning Balance	9,002,435	490,365	406,242	27,367	(720,468)	1,991	2,716,852	190,261	12,115,045
Capital Increase	79,299	-	-	-	-	-	-	-	79,299
Transferred to Reserves	-	130,719	1,444,406	741	-	-	(1,463,514)	(112,352)	-
Dividend paid	-	-	-	-	-	-	(1,253,338)	-	(1,253,338)
Net Profit for the period	-	-	-	-	-	-	1,663,003	-	1,663,003
Net Unrealized Gain/(loss) on AFS	-	-	-	-	387,836	-	-	-	387,836
Cost of Employee Stock Ownership Plan (ESOP)	-	-	-	-	-	-	-	54,630	54,630
Balance at the End of the period	9,081,734	621,084	1,850,648	28,108	(332,632)	1,991	1,663,003	132,539	13,046,475

June 30, 2015	Issued and Paid Up Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Special Reserve (EGP)	Reserve for A.F.S Investment Revaluation Diff. (EGP)	Banking Risks Reserve (EGP)	Net Profits for the period (EGP)	Reserve for Employee Stock Ownership Plan (EGP)	Total (EGP)
Beginning Balance	9,081,734	621,084	1,850,648	28,108	(593,237)	2,513	3,647,008	177,766	14,815,624
Capital Increase	94,748	-	-	-	-	-	-	-	94,748
Transferred to Reserves	-	182,271	1,961,998	2,106	-	-	(2,083,362)	(63,013)	-
Dividend paid	-	-	-	-	-	-	(1,563,646)	-	(1,563,646)
Net Profit of the period	-	-	-	-	-	-	2,198,747	-	2,198,747
Net Unrealized gain/(loss) on AFS	-	-	-	-	(769,771)	-	-	-	(769,771)
Cost of Employee Stock Ownership Plan (ESOP)	-	-	-	-	-	-	-	85,218	85,218
Balance at the End of the period	9,176,482	803,355	3,812,646	30,214	(1,363,008)	2,513	2,198,747	199,971	14,860,920

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