3rd Quarter Results - Net Profits Up 19%

COMMERCIAL INTERNATIONAL BANK (EGYPT) SAE 26 October 1999 Commercial International Bank (Egypt) S.A.E Third Quarter Financial Results September 1999 The third quarter of 1999 witnessed an increase of 19% in net profits from LE 222 Million ($65.1) in September 1998 to LE 265 ($77.7) in September 1999. All key operating products lines performed well. Interest income increased by 14.7% from LE 733.6 Million ($215.1) to LE 841.3 Million ($246.6) while interest expense increased by only 7%. Net Operating income increased by 5% from LE 474.3 Million ($139.0) in September 1998 to LE 497.7 Million ($145.9) in September 1999. In addition, Net Loans/Deposits ratio improved from 107% in September last year to 97% during the same period this year due to a healthy 12% increase in customer deposits. CONTACT: Mrs. Maha Ragab, Assistant General Manager, Marketing Support Group. For full details, please visit our web site on www.cibeg.com Commercial International Bank (Egypt) S.A.E Statement of Income From January 1. 1999 to Sept. 30, 1999 Sept. 30, 1999 Sept. 30, 1998 - Interest Received From Clients & Banks 742,500,833 630,896,628 - Interest Received From Treasury & Corporate securities 98,832,925 102,733,066 Deduct - Interest Paid to Clients & Banks (555,943,838) (517,107,652) Net Interest Income 285,389,920 216,522,042 - Banking Fees & Commissions 142,758,508 130,797,528 - Dividend Income 11,298,611 13,501,248 - Profit (losses) From Selling Investments (1,283,296) 69,180,465 - Foreign Exchange Income 42,132,862 31,963,482 - Other Income 17,427,516 12,300,922 Total Fee Income 212,334,201 257,743,645 Net Operating Income 497,724,121 474,265,687 Deduct - Provisions (100,607,977) (129,498,451) - General & Administrative Expense & (122,529,293) (108,620,114) Depreciation - Other Expenses (9,198,165) (13,668,471) (232,335,435) (251,787,036) Net Profit 265,388,686 222,476,651 Commercial International Bank (Egypt) S.A.E Financial Position As of September 30.1999 Assets Sept. 30, 1999 December 31, 1998 LE LE - Cash & Due From Central Bank 1,879,508,927 1,470,139,915 - Due From Other Banks 1,472,640,809 692,853,069 - Treasury Bills 335,079,126 584,023,753 - Trading investments (Net Of Provision for Trading Investments) 224,230,795 77,832,181 - Loans & Overdrafts (Net Of Provision for Doubtful Debts) 9,521,021,966 9,408,661,363 - Non-trading Investments 1,077,964,793 765,695,846 - Debit Balances & Other Assets 246,443,920 168,953,990 - Fixed Assets (Net) 112,795,968 109,129,926 Total Assets 14,869,686,304 13,277,290,043 Liabilities & Shareholder's Equity Liabilities - Due to Banks 419,553,848 1,213,025,411 - Customer Deposits 9,776,528,925 8,729,695,577 - Credit Balances & Other Liabilities 594,693,314 336,006,953 - Dividends & Profit Sharing - 229,127,028 - Medium Term Bonds 600,000,000 300,000,000 - Long Term Loans 1,478,490,812 788,493,800 - Other provisions 452,878,951 398,789,506 Total liabilities 13,322,145,850 11,995,138,275 Shareholders' Equity - Issued & Paid - in Capital 650,000,000 650,000,000 - Reserves 632,151,768 632,151,768 Total Shareholders' Equity 1,282,151,768 1,282,151,768 Net Profit for the Period 265,388,686 - Total Shareholders' Equity & Net Profit for the period 1,547,540,454 1,282,151,768 Total Liabilities & Shareholders' Equity 14,869,686,304 13,277,290,043 - Contra Accounts 5,594,889,592 5,843,852,411
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