1st Quarter Separate Results

RNS Number : 4262N

Commercial Intnl Bank (Egypt) SAE

09 May 2018

 

Commercial International Bank (Egypt) S.A.E. Separate Financial Statements March 31st ,  2018
FINANCIAL POSITION
As of March 31st, 2018
Amounts in EGP Thousands			Note					March 31st, 2018					December 31st , 2017
Assets
Cash and balances with central bank			15					26,182,232					14,663,289
Due from  banks			16					42,306,844					45,319,766
Treasury bills and other governmental notes			17					45,937,458					54,478,202
Trading financial assets			18					7,170,208					7,295,197
Loans and advances to banks, net			19					188,312					1,313
Loans and advances to customers, net			20					95,115,591					88,427,103
Derivative financial instruments			21					38,274					40,001
Financial investments
- Available for sale			22					40,152,856					30,474,781
- Held to maturity			22					42,359,709					45,167,722
Investments in associates and subsidiaries			23					67,959					54,068
Other assets			24					8,293,920					6,886,807
Intangible assets			41					336,371					368,923
Deferred tax assets (Liabilities)			32					224,393					179,630
Property, plant and equipment			25					1,360,718					1,414,519
Total assets								309,734,845					294,771,321
Liabilities and equity
Liabilities
Due to banks			26					11,352,358					1,877,918
Due to customers			27					256,077,525					250,767,370
Derivative financial instruments			21					185,956					196,984
Current tax liabilities								896,492					2,778,973
Other liabilities			29					8,084,618					5,476,531
Other loans			28					3,687,828					3,674,736
Provisions			30					1,644,030					1,615,159
Total liabilities								281,928,807					266,387,671
Equity
Issued and paid up capital			31					11,618,011					11,618,011
Reserves			34					13,529,644					10,137,515
Reserve for employee stock ownership plan (ESOP)								596,636					489,334
Retained earnings*								2,076,436					6,138,790
Total equity								27,820,727					28,383,650
Total liabilities and equity								309,749,534					294,771,321
*Including net profit for the current period
INCOME  STATEMENT
As of March 31st , 2018
Amounts in EGP Thousands			Note					March 31st , 2018					March 31st, 2017
Interest and similar income								7,936,316					6,376,570
Interest and similar expense								(4,676,400)					(3,593,103)
Net interest income			6					3,259,916					2,783,467
Fee and commission income								786,422					655,977
Fee and commission expense								(214,083)					(138,176)
Net fee and commission income			7					572,339					517,801
Dividend income			8					1,086					1,799
Net trading income			9					436,092					386,603
Profits (Losses) on financial investments			22					146,651					323,473
Administrative expenses			10					(957,074)					(746,457)
Other operating (expenses) income			11					(236,859)					(357,997)
Intangible assets amortization			41					(32,552)					(32,552)
Impairment charge for credit losses			12					(320,232)					(506,570)
Profit before income tax								2,869,367					2,369,567
Income tax expense			13					(896,492)					(598,735)
Deferred tax assets (Liabilities)			32 & 13					44,763					14,610
Net profit for the period								2,017,638					1,785,442
Earning per share			14
Basic								1.54					1.36
Diluted								1.51					1.34
CASH FLOW STATEMENT As of March 31st , 2018
Amounts in EGP Thousands
										March 31st , 2018					March 31st , 2017
Cash flow from operating activities
Profit before income tax										2,869,367					2,044,726
Adjustments to reconcile net profit to net cash provided by operating  activities
Fixed assets depreciation										94,089					84,592
Impairment charge for credit losses										320,232					506,570
Other provisions charges										26,048					88,440
Available for sale investments exchange revaluation differences										39,053					16,596
Intangible assets amortization										32,552					32,552
Financial investments impairment charge										(16)					(59,574)
Exchange differences in financial investments in subsidiary										209					(358)
Utilization of other provisions										245					(2,470)
Other provisions no longer used										-					3,523
Exchange differences of  other provisions										2,578					53,608
(Losses) Profits from selling financial investments										(146,635)					77,104
Shares based payments										107,302					(11,940)
Impairment (Released) charges of non current assets held for sale										-					2,833,369
Net decrease (increase) in assets and  liabilities
Due from banks										(29,978,825)					(6,369,580)
Treasury bills and other governmental notes										8,624,987					(1,278,538)
Trading financial assets										124,989					235,913
Derivative financial instruments										(5,392)					6,832
Loans and advances to banks and customers										(7,195,719)					(1,095,248)
Other assets										(1,232,913)					(715,275)
Non current assets held for sale										-					188,136
Due to banks										9,474,440					(410,928)
Due to customers										5,354,264					7,765,546
Income tax obligations paid										(2,778,973)					(2,017,034)
Other liabilities										2,608,087					1,624,858
Net cash (used in) provided from operating activities										(11,660,031)					768,051
Cash flow from investing activities
Payment for purchases of subsidiary and associates										(10,575)					-
Payment for purchases of property, plant, equipment and branches constructions										(214,488)					(204,805)
Proceeds from redemption of held to maturity financial investments										2,808,013					7,111,107
Payment for purchases of held to maturity financial investments										-					(2,575,231)
Payment for purchases of  available for sale financial investments										(10,484,844)					(153,395)
Proceeds from selling available for sale financial investments										303,449					480,343
Proceeds from selling non current assets held for sale										-					500,867
Net cash (used in) provided from investing activities										(7,598,445)					5,158,886
Cash flow from financing activities
Increase (decrease) in long term loans										13,092					(5,025)
Dividend paid										(2,143,177)					(773,274)
Net cash used in financing activities										(2,130,085)					(778,299)
Net increase (decrease) in cash and cash equivalent during the period										(21,388,561)					5,148,638
Beginning balance of cash and cash equivalent										49,208,837					61,518,700
Cash and cash equivalent at the end of the period										27,820,276					66,667,338
Cash and cash equivalent comprise:
Cash and balances with central bank										26,182,232					15,101,163
Due from banks										42,306,844					65,449,817
Treasury bills and other governmental  notes										45,937,458					39,956,034
Obligatory reserve balance with CBE										(20,421,756)					(10,066,100)
Due from banks with maturities more than three months										(20,155,641)					(4,307,610)
Treasury bills with maturity more than three months										(46,028,861)					(39,465,966)
Total cash and cash equivalent										27,820,276					66,667,338

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

Separate statement of changes in shareholders' equity  for the period ended on March 31st, 2017 Mar. 31, 2017 Issued and paid up capital Legal reserve General reserve Special reserve Capital reserve Reserve For  A.F.S  investments revaluation diff. Banking risks reserve IFRS 9 risk reserve Retained earnings Reserve for employee stock ownership plan Total EGP Thousands Beginning balance           11,538,660          1,035,363              4,554,403                 20,645                 10,133          (2,180,244)                  3,019                        -              5,950,555             343,460           21,275,994 Transferred to reserves                          -               297,444              4,300,607                        -                     1,682                        -                          -                          -            (4,599,733)                      -                            -   Dividend paid                          -                         -                            -                          -                          -                          -                          -                          -            (1,350,207)                      -              (1,350,207) Net profit for the period                          -                         -                            -                          -                          -                          -                          -                          -              1,785,442                      -               1,785,442 Net unrealised gain/(loss) on AFS                          -                         -                            -                          -                          -                218,228                        -                          -                          -                        -                  218,228 Transferred (from) to  bank risk reserve                          -                         -                            -                          -                          -                          -                       615                        -                      (615)                      -                            -   Cost of employees stock ownership plan (ESOP)                          -                         -                            -                          -                          -                          -                          -                          -                          -                 77,104                  77,104 Balance at the end of the period           11,538,660          1,332,807              8,855,010                 20,645                 11,815          (1,962,016)                  3,634                        -              1,785,442             420,564           22,006,561 Separate statement of changes in shareholders' equity  for the period ended on March 31st, 2018 Mar. 31, 2018 Issued and paid up capital Legal reserve General reserve Special reserve Capital reserve Reserve For  A.F.S  investments revaluation diff. Banking risks reserve IFRS 9 risk reserve Retained earnings Reserve for employee stock ownership plan Total EGP Thousands Beginning balance           11,618,011          1,332,807              9,000,023                 20,645                 11,815          (1,642,958)                  3,634           1,411,549            6,138,790             489,334           28,383,650 Transferred to reserves                          -               377,486              3,616,832                        -                        606                        -                          -                          -            (3,994,924)                      -                            -   Dividend paid                          -                         -                            -                          -                          -                          -                          -                          -            (2,143,177)                      -              (2,143,177) Net profit for the period                          -                         -                            -                          -                          -                          -                          -                          -              2,017,638                      -               2,017,638 Net unrealised gain/(loss) on AFS                          -                         -                            -                          -                          -               (603,484)                        -                          -                          -                        -                 (603,484) Transferred (from) to  bank risk reserve                          -                         -                            -                          -                          -                          -                       689                        -                      (689)                      -                            -   Cost of employees stock ownership plan (ESOP)                          -                         -                            -                          -                          -                          -                          -                          -                          -               107,302                107,302 Balance at the end of the period           11,618,011          1,710,293            12,616,855                 20,645                 12,421          (2,246,442)                  4,323           1,411,549            2,017,638             596,636           27,761,929 Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/4262N_-2018-5-8.pdf

 

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