Final Results

RNS Number : 2426Y

Commercial Intnl Bank (Egypt) SAE

20 February 2013

 



Commercial International Bank (Egypt) S.A.E.
Unconsolidated Financial Statements
December 31,  2012
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of Dec. 31, 2012
Amounts in EGP.	Note		Dec. 31 ,2012				Dec.31, 2011
Assets
Cash and Due with Central Bank	15		5,393,974,124				7,492,064,510
Due From Banks	16		7,957,710,034				8,449,298,705
Treasury Bills and Other Governmental Notes	17		7,978,030,413				9,213,390,067
Trading Financial Assets	18		1,472,281,763				561,084,273
Loans and Advances to Banks	19		1,178,867,739				1,395,594,609
Loans and Advances to Customers	20		40,698,313,773				39,669,785,864
Derivative Financial Investments	21		137,459,761				146,544,656
Financial Investments
Available for Sale	22		21,161,884,032				15,412,566,069
Held to Maturity	22		4,205,753,328				29,092,920
Investments in Subsidiary and Associates	23		938,033,700				995,595,778
Investment Property	24		10,395,686				12,774,686
Other Assets	25		2,459,025,844				1,518,509,876
Deferred Tax	33		129,133,209				95,141,726
Property, Plant and Equipment	26		684,527,896				636,775,294
Total Assets			94,405,391,302				85,628,219,033
Liabilities and Equity
Liabilities
Due to Banks	27		1,714,862,716				3,340,794,517
Due to Customers	28		78,834,726,890				71,574,047,530
Derivative Financial Instruments	21		119,099,260				114,287,990
Other Liabilities	30		2,034,351,571				1,313,785,436
Long Term Loans	29		80,495,238				99,333,376
Other Provisions	31		310,648,113				264,625,909
Total Liabilities			83,094,183,788				76,706,874,758
Equity
Issued & Paid- in Capital	32		5,972,275,410				5,934,562,990
Reserves	32		2,970,458,093				1,085,472,868
Reserve for Employee Stock Ownership Plan (ESOP)			164,761,121				137,354,419
Retained Earnings			1,001,979				15,105,920
Total Equity			9,108,496,603				7,172,496,197
Net Profit of the Year After Tax			2,202,710,911				1,748,848,078
Total Equity and Net Profit for the Year			11,311,207,514				8,921,344,275
Total Liabilities and Equity			94,405,391,302				85,628,219,033
Contingent Liabilities and Commitments
Letters of Credit, Guarantees and other commitments	37		14,897,789,005				12,559,603,516
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME  STATEMENT
As of Dec. 31, 2012
Amounts in EGP.	Note		Dec.31, 2012				Dec. 31, 2011
Interest and Similar Income			7,845,913,494				5,459,248,277
Interest and Similar Expense			(3,945,237,550)				(2,780,703,161)
Net Interest Income	6		3,900,675,944				2,678,545,116
Fee and Commissions Income			942,867,320				865,620,940
Fee and Commissions Expense			(107,365,742)				(87,451,431)
Net Income from Fees and Commissions	7		835,501,578				778,169,509
Dividend Income	8		32,234,196				59,921,078
Net Trading Income	9		565,727,965				368,912,520
Profit from Financial Investments	22		(116,514,246)				19,799,495
Administrative Expenses	10		(1,444,645,467)				(1,336,701,608)
Other Operating (Expenses) Income	11		(109,790,791)				(68,220,065)
Impairment Charge for Credit Loses	12		(609,971,077)				(320,648,863)
Net Profit before Tax			3,053,218,102				2,179,777,182
Income Tax Expense	13		(884,498,673)				(446,414,136)
Deferred Tax	13 and 33		33,991,482				15,485,032
Net Profit of the Year			2,202,710,911				1,748,848,078
Earning per share	14
Basic			3.53				2.43
Diluted			3.47				2.39
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of Dec. 31, 2012
Amounts in EGP.			Dec. 31, 2012				Dec. 31, 2011
Cash Flow From Operating Activities
Net Profit Before Tax			3,053,218,102				2,179,777,182
Adjustments To Reconcile Net Profit to Net Cash
Provided by Operating Activities
Depreciation			167,225,901				185,074,214
Assets Impairment Charges			609,971,078				322,276,483
Other Provisions Charges			51,616,933				4,217,707
Trading Financial Investment Revaluation Differences			(78,642,848)				61,887,578
Available For Sale And Held to Maturity investments exchange revaluation differences			(60,242,239)				(60,380,784)
Financial Investments Impairment Charge (Release)			7,902,478				58,080,987
Utilization of Other Provisions			(12,294,615)				(3,412,238)
Other Provisions No Longer Used			(531,054)				(48,748,110)
Exchange Differences of Other Provisions			7,230,941				2,329,620
Profits From Selling Property, Plant and Equipment			(2,387,583)				(2,716,747)
Profits From Selling Financial Investments			(519,013)				(37,608,880)
Profits from Selling Associates			0				(1,873,813)
Exchange Difference of  Long Term Loans			0				164,818
Share Based Payments			79,068,829				77,459,887
Investments in Subsidiary and Associates Revaluation		89,736,000				18,430,000
Real Estate Investments Impairment Charges			(371,000)				400,000
Operating Profits Before Changes in Operating Assets and Liabilities			3,910,981,910				2,639,195,930
Net Decrease (Increase) in Assets and Liabilities
Due from banks			521,695,379				(1,857,455,963)
Treasury Bills & Other Governmental Notes			758,289,224				(1,729,254,403)
Trading Financial Assets			(832,554,642)				799,066,990
Derivative Financial Instrument			13,896,165				(6,543,758)
Loans and Advances to Banks and Customers			(1,421,772,116)				(6,213,116,023)
Other Assets			(948,385,056)				(92,518,310)
Due to Banks			1,625,931,801				2,018,514,608
Due to Customers			7,260,679,360				8,094,163,906
Other Liabilities			(163,932,540)				(261,547,906)
Net Cash Provided from Operating Activities			7,472,965,883				3,390,505,071
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of Dec. 31, 2012			Dec. 31, 2012				Dec. 31, 2011
Cash Flow From Investing Activities
Purchase of Subsidiary and Associates			(32,173,922)				(16,834,427)
Proceeds from Selling Subsidiary and Associates			-				1,000,000
Purchases of Property, Plant and Equipment			(204,721,832)				(153,108,029)
Redemption of Held-to-Maturity Financial Investments			-				271,802,813
Purchases of Held to Maturity Financial Investments			(4,176,660,408)				(5,000,000)
Purchases of Available for  Sale Financial Investments			(10,163,193,809)				(4,535,816,259)
Proceeds from Selling Available for Sale Financial Investments			5,343,312,220				2,172,867,695
Proceeds from Selling Real Estate Investments			2,750,000				15,520,978
Net Cash Generated from (Used in) Investing  Activities			(9,230,687,751)				(2,249,567,229)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans			(18,838,138)				(29,944,867)
Dividends Paid			(806,206,521)				(841,922,204)
Capital Increase			37,712,420				33,119,390
Net Cash Generated from (Used in) Financing Activities			(787,332,239)				(838,747,681)
Net Increase (Decrease) in Cash and Cash Equivalent			(2,545,054,107)				302,190,161
Beginning Balance of Cash and Cash Equivalent			8,081,134,203				7,778,944,041
Cash and Cash Equivalent Balance At the End of the Year			5,536,080,096				8,081,134,202
Cash & Cash Equivalent Comprise
Cash and Balances with Central Bank			5,393,974,124				7,492,064,510
Due From Banks			7,957,710,034				8,449,298,705
Treasury Bills and Other  Governmental Notes			7,978,030,413				9,213,390,067
Obligatory Reserve Balance With CBE			(3,093,283,199)				(3,014,779,811)
Due from Banks (Time Deposits) More than Three Months			(4,637,273,015)				(5,237,471,784)
Treasury Bills with Maturity  More than Three Months			(8,063,078,261)				(8,821,367,485)
Total Cash & Cash Equivalent			5,536,080,096				8,081,134,202

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY
As of Dec. 31, 2012

Dec.31, 2011	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (losses) (EGP)	Special Reserves (EGP)	Reserves for A.F.S Inv. Revaluation Diff. (EGP)	Banking Risk Reserve (EGP)	Net Profit of the Year (EGP)	Reserve for Employee Stock ownership plan ESOP	Total (EGP)
Beginning Balance	5,901,443,600	125,128,337	78,564,646	20,231,298	184,356,569	(18,014,631)	156,992,515	2,010,672,119	149,520,859	8,608,895,311
Capital Increase	33,119,390	-	-	-	-	-	-	-	-	33,119,390
Transferred to Reserves	-	106,216,559	1,155,710,314	-	1,574,746	-	-	(1,173,875,293)	(89,626,327)	-
Dividends Paid	-	-	-	(20,231,298)	-	-	-	(821,690,906)	-	(841,922,204)
Net Profit of the Year	-	-	-	-	-	-	-	1,748,848,078	-	1,748,848,078
Addition from Financial Investment Revaluation	-	-	-	-	-	(705,056,187)	-	-	-	(705,056,187)
Transferred to Bank Risk Reserve	-	-	-	-	-	-	124,697,104	(124,697,104)	-	-
Reserve for Employee Stock Ownership Plan ESOP	-	-	-	-	-	-	-	-	77,459,887	77,459,887
The Effect of Changing Accounting Policies	-	-	-	15,105,920	-	-	-	(15,105,920)	-	-
Balance at the end of the Year	5,934,562,990	231,344,896	1,234,274,960	15,105,920	185,931,315	(723,070,818)	281,689,619	1,624,150,975	137,354,419	8,921,344,275

Dec.31, 2012	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (losses) (EGP)	Special Reserves (EGP)	Reserves for A.F.S Inv. Revaluation Diff. (EGP)	Banking Risk Reserve (EGP)	Net Profit of the year (EGP)	Reserve for Employee Stock Ownership Plan ESOP	Total (EGP)
Beginning Balance	5,934,562,990	231,344,896	1,234,274,960	15,105,920	185,931,315	(723,070,818)	281,689,619	1,624,150,975	137,354,419	8,921,344,275
Capital Increase	37,712,420	-	-	-	-	-	-	-	-	37,712,420
Transferred to Reserves	-	87,306,567	794,689,187	-	2,716,747	-	-	(833,050,374)	(51,662,127)	-
Dividends Paid	-	-	-	(15,105,920)	-	-	-	(791,100,601)	-	(806,206,521)
Net Profit of the Year	-	-	-	-	-	-	-	2,202,710,911	-	2,202,710,911
Transfer from special reserve	-	61,697,292	8,143,225	1,001,979	(70,842,496)	-	-	-	-	-
Addition from Financial Investment Revaluation	-	-	-	-	-	876,577,599	-	-	-	876,577,599
Transferred to Bank Risk Reserve	-	-	-	-	-	-	(177,972,687)	177,972,687	-	-
Reserve for Employee Stock ownership plan ESOP	-	-	-	-	-	-	-	-	79,068,829	79,068,829
Balance at the End of Year	5,972,275,410	380,348,755	2,037,107,372	1,001,979	117,805,566	153,506,781	103,716,932	2,380,683,598	164,761,121	11,311,207,514

 

END

 

 

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