Unconsolidated Statement

RNS Number : 2190S

Commercial Intnl Bank (Egypt) SAE

13 May 2009

 



Commercial International Bank (Egypt) S.A.E.
Financial Statements
March 31, 2009
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of Mar. 31, 2009
Amounts in L.E.	Note	31-Mar-2009		31-Dec-2008
Assets
Cash & Due From Central Bank	5	5,118,066,563		4,473,011,942
Due From Banks	6	8,291,704,629		6,411,397,744
Treasury Bills & Other Notes Discountable at CBE	7	10,681,933,650		12,449,007,406
Trading Financial Assets	8	758,193,635		497,554,487
Loans & Overdrafts	11&12	26,727,428,671		26,330,327,878
Financial Derivatives	13	697,768,236		704,890,792
Financial Investments
Available for Sale	9	5,650,268,726		2,762,232,984
Held to Maturity Financial Investments	9	656,924,240		681,263,274
Financial Investments in Subsidiary and associated companies	14	1,138,578,177		1,138,332,672
Debit Balances and Other Assets	16	751,604,687		942,621,482
Deferred Tax	28	27,977,947		21,840,568
Fixed Assets (Net)	17	733,958,578		715,251,587
Total Assets		61,234,407,739		57,127,732,816
Liabilities & Shareholders' Equity
Liabilities
Due to Banks	18	2,119,878,412		213,470,012
Customer Deposits	19	51,300,180,130		48,938,109,663
Financial Derivatives	13	574,775,091		636,914,744
Dividends & Profit Sharing		-		478,236,553
Credit Balances & Other Liabilities	20	967,377,695		1,235,780,102
Long Term Loans	21	115,754,589		109,273,933
Other Provisions	22	363,176,683		363,218,186
Total Liabilities		55,441,142,600		51,975,003,193
Shareholders' Equity
Issued & Paid- in Capital	23	2,925,000,000		2,925,000,000
Reserves	23	2,265,071,057		2,142,944,404
Reserve for employee stock ownership plan (ESOP)		107,147,160		86,727,903
Retained Earning		(1,942,684)		(1,942,684)
Total Shareholders' Equity		5,295,275,533		4,015,865,718
Net Profit of the Period		497,989,606		1,615,100,458
Total Shareholders' Equity & Net Profit		5,793,265,139		5,630,966,176
Total Liabilities & Shareholders' Equity		61,234,407,739		57,127,732,816
Contingent & commitments Liabilities
Letters of Credit, Guarantees and other commitments	24	13,721,541,672		13,290,994,705
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME STATEMENT
As of Mar. 31 2009
Amounts in LE.	Note	Mar. 31, 2009		Mar. 31, 2008
Interest and Similar Income	25	1,021,874,530		844,789,734
Interest and Similar Expenses	25	(530,723,817)		(458,439,105)
Net Interest Income		491,150,713		386,350,629
Fees & Commissions Income		149,349,876		192,871,129
Fees and Commissions Expense		(16,029,590)		(10,667,364)
Net Income from Fees and Commissions		133,320,286		182,203,765
Dividends Income		99,707,405		56,386,710
Net Trading Income	26	172,922,295		128,646,620
Provisions	12 & 22	(42,420,690)		(163,354,750)
(Losses) Profit from Financial Investments	9	(2,354,217)		16,014,221
Administrative Expenses		(252,913,703)		(187,424,812)
Other operating (Expenses) Income	10	(26,960,475)		94,320,142
Net Profit before Tax		572,451,614		513,142,525
Income Tax	29	(80,599,387)		(30,444,223)
Deferred Tax	29&28	6,137,379		(36,212,666)
Net Profit After Tax		497,989,606		446,485,636
Earning per share
Basic	30	1.51		1.35
Diluted	30	1.47		1.34
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of Mar. 31 2009
Amounts in LE.		Mar. 31, 2009		Mar. 31, 2008
Cash Flow From Operating Activities
Net Income Before Tax		572,451,614		513,142,525
Adjustments To Reconcile Net Income
Total Net Cash Provided by operating Activities
Depreciation		46,334,096		32,180,440
Provisions (Additions during the period)		42,420,690		163,354,750
Trading Financial Investment Evaluation Differences		(9,294,939)		(6,314,685)
Impairment of Assets		(2,329,265)		39,596,737
Utilization of Provision (Other than Provision for Doubtful Debts)		(3,962,272)		(12,298)
Provisions no longer used		-		(94,395,171)
FCY Revaluation Differences of Provision Balances except Doubtful Debt		2,899,477		(619,241)
Gains From Selling of Fixed Assets		(609,735)		(29,524)
Profit From Selling of financial Investments		(7,567,855)		(7,926,142)
Profits from dispose part of a subsidiary		-		(50,258,991)
FCY Revaluation Difference of Long Term Loans		(560,550)		1,320,333
Share Based Payments		20,419,257		13,792,481
Operating Profit Before Changes in Operating Assets and Liabilities		660,200,517		603,831,214
Net Decrease (Increase) in Assets
Due from banks		(2,425,305,063)		(6,430,858,152)
Treasury Bills & Other Notes Discountable at CBE		193,665,319		(185,393,667)
Trading Financial Assets		(251,344,208)		33,346,977
Financial Derivatives (Net)		(55,017,097)		(54,487,847)
Loans & Overdrafts		(434,661,139)		(3,090,458,189)
Net Increase (Decrease) In Liabilities
Debit Balances and Other Assets		180,789,985		(63,563,260)
Due to Banks		1,906,408,400		1,571,518,492
Customer Deposits		2,362,070,467		8,492,306,124
Credit Balances & Other Liabilities		(349,001,794)		323,530,458
Net Cash Provided from Operating Activities		1,787,805,387		1,199,772,149
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of Mar. 31 2009		Mar. 31, 2009		Mar. 31, 2008
Cash Flow From Investment Activities
Sales (Purchases) of subsidiaries & associated companies		121,881,148		29,912,140
Purchase of Fixed Assets, premises and Fitting-out of Branches		(58,043,594)		(52,193,502)
Redemption of Held-to-Maturity Financial Investments		33,520,654		145,248,747
Held to Maturity financial Investments Purchases		(9,181,620)		-
Available for Sale Financial Investments		(2,878,138,621)		14,069,627
Net Cash (Used in) Provided from Investment Activities		(2,789,962,034)		137,037,012
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans		7,041,206		6,422,990
Dividends Paid		(478,236,553)		(336,727,470)
Net Cash (Used in) provided from Financing Activities		(471,195,347)		(330,304,480)
Net cash & cash equivalent changes		(1,473,351,994)		1,006,504,681
Beginning Balance of cash and cash equivalent		8,622,040,072		6,779,152,548
Cash & Cash equivalent Balance At the End of the period		7,148,688,078		7,785,657,229
Cash & Cash Equivalent are Represented as Follows
Cash and Due from Central Bank		5,118,066,563		6,434,125,884
Due From Banks		8,291,704,629		19,893,355,779
Treasury Bills & other notes discountable at the CBE		10,681,933,650		2,979,216,629
Due from Banks (time deposits)		(8,142,259,335)		(19,695,076,686)
Treasury Bills with Maturity More than Three Months		(8,800,757,429)		(1,825,964,377)
Total Cash & Cash Equivalent		7,148,688,078		7,785,657,229

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY

As of Mar. 31 2009

2008	Capital	Legal Reserve	General Reserve	Retained Earnings	Special Reserves	Reserves for A.F.S Inv. Revaluation Diff.	Profits of the Year	Reserve for Employee Stock ownership plan ESOP	Total
Beginning Balance	1,950,000,000	432,851,511	1,382,547,602	11,628,342	185,993,785	60,903,531	-	29,159,584	4,053,084,355
Derivatives Revaluations Settlement	-	-	-	(13,571,026)	-	-	-	-	(13,571,026)
Capital Increase	975,000,000	-	(975,000,000)	-	-	-	-	-	-
Net Profits for period	-	-	-	-	-	-	1,615,100,458	-	1,615,100,458
Usage part of reserve	-	-	-	-	-	(81,215,930)	-	-	(81,215,930)
Reserve for employee stock ownership plan ESOP	-	-	-	-	-	-	-	57,568,319	57,568,319
Ending Balance	2,925,000,000	432,851,511	407,547,602	(1,942,684)	185,993,785	(20,312,399)	1,615,100,458	86,727,903	5,630,966,176,

2009	Capital	Legal Reserve	General Reserve	Retained Earnings	Special Reserves	Reserves for  A.F.S Inv. Revaluation Diff.	Profits of the period	Reserve for Employee Stock ownership plan ESOP	Total
Beginning Balance	2,925,000,000	432,851,511	407,547,602	(1,942,684)	185,993,785	(20,312,399)	1,615,100,458	86,727,903	5,630,966,176
Transfer to Reserves	-	80,755,023	1,056,108,882	-	-	-	(1,136,863,905)	-	-
Dividends Paid	-	-	-	-	-	-	(478,236,553)	-	(478,236,553)
Net Profit for period	-	-	-	-	-	-	497,989,606	-	497,989,606
Addition from Financial Investment Revaluation	-	-	-	-	-	122,126,653	-	-	122,126,653
Reserve for employee stock ownership plan ESOP	-	-	-	-	-	-	-	20,419,257	20,419,257
Ending Balance	2.925,000,000	513,606,534	1,463,656,484	(1,942,684)	185,993,785	101,814,254	497,989,606	107,147,160	5,793,265,139

 

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