Year-end 2015 Separate Financials

RNS Number : 7178O

Commercial Intnl Bank (Egypt) SAE

11 February 2016

 

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Commercial International Bank (Egypt) S.A.E.
Separate Financial Statements
December 31,  2015
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of December 31, 2015
	Note	Dec.31, 2015		Dec. 31 ,2014
		EGP Thousands		EGP Thousands
Assets
Cash and Balances with Central Bank	15	9,848,954		7,502,256
Due From Banks	16	21,002,305		9,279,896
Treasury Bills and Other Governmental Notes	17	22,130,170		30,539,402
Trading Financial Assets	18	5,848,377		3,727,571
Loans and Advances to Banks, net	19	38,443		118,091
Loans and Advances to Customers, net	20	57,172,705		49,279,817
Derivative Financial Instruments	21	80,995		52,188
Financial Investments
Available for Sale	22	46,289,075		27,688,410
Held to Maturity	22	9,261,220		9,160,746
Investments in Subsidiary and Associates	23	12,600		564,686
Non-current assets held for sale		503,066		-
Investment Properties	24	-		884,094
Other Assets	25	4,799,937		3,745,362
Goodwill		209,842		-
Intangible Assets		629,340		-
Deferred Tax Assets (Liabilities)	33	258,157		122,110
Property, Plant and Equipment	26	1,107,905		982,296
Total Assets		179,193,091		143,646,925
Liabilities and Equity
Liabilities
Due to Banks	27	1,600,769		1,131,385
Due to Customers	28	155,369,922		122,244,933
Derivative Financial Instruments	21	145,735		137,175
Current Tax Liabilities		1,949,694		1,814,609
Other Liabilities	30	2,622,269		2,541,965
Long Term Loans	29	131,328		242,878
Other Provisions	31	861,761		718,356
Total Liabilities		162,681,478		128,831,301
Equity
Issued and Paid- in Capital	32	11,470,603		9,081,734
Reserves	32	152,144		1,908,594
Reserve for Employee Stock Ownership Plan (ESOP)		248,148		177,766
Total Equity		11,870,895		11,168,094
Net Profit f the Year		4,640,718		3,647,530
Total Equity and Net Profit for the Year		16,511,613		14,815,624
Total Liabilities and Equity		179,193,091		143,646,925
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME  STATEMENT
As of December 31, 2015
	Note	Dec. 31, 2015		Dec. 31, 2014
		EGP  Thousands		EGP  Thousands
Interest and Similar Income		14,765,337		11,549,834
Interest and Similar Expense		(6,650,008)		(5,274,133)
Net Interest Income	6	8,115,329		6,275,701
Fee and Commissions Income		1,932,054		1,669,224
Fee and Commissions Expense		(299,696)		(181,498)
Net fee and commission income	7	1,632,358		1,487,726
Dividend Income	8	35,062		28,514
Net Trading Income	9	710,398		717,001
Profit (Losses) on Financial Investments	22	270,998		(29,335)
Administrative Expenses	10	(2,028,404)		(1,704,500)
Other Operating (Expenses) Income	11	(570,000)		(762,529)
Goodwill Amortization		(7,236)		-
Intangible Assets Amortization		(21,701)		-
Impairment Charge for Credit Losses	12	(1,682,439)		(588,794)
Net Profit before Income Tax		6,454,365		5,423,784
Income Tax Expense	13	(1,949,694)		(1,814,609)
Deferred Tax Assets (Liabilities)	33 & 13	136,047		38,355
Net Profit for the Year		4,640,718		3,647,530
Earnings per share	14
Basic		3.58		2.81
Diluted		3.53		2.78
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of December 31, 2015
		Dec. 31, 2015		Dec. 31, 2014
		EGP  Thousands		EGP  Thousands
Cash Flow From Operating Activities
Profit Before Income Tax		6,454,365		5,423,784
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities
Fixed Assets Depreciation		223,510		213,771
Impairment Charges for credit losses		1,682,439		588,794
Other Provisions Charges		135,866		278,514
Trading Financial Investment Revaluation Differences		353,590		(4,468)
Available for sale and held to maturity investments exchange revaluation differences		(96,638)		(38,176)
Available for sale and held to maturity investments exchange revaluation differences		7,236		-
Goodwill Amortization		21,701		-
Intangible Assets Amortization
Financial Investments Impairment Charge		140,751		65,736
Utilization of Other Provisions		(5,286)		(6,600)
Other Provisions No Longer Used		(505)		(456)
Exchange Differences of Other Provisions		13,330		(3,857)
Profits From Selling Property, Plant and Equipment		(564)		(2,106)
Profits From Selling Financial Investments		(163,270)		(82,907)
Profits From Selling Associates		(285,431)		-
Share Based Payments		133,395		99,857
Investments in Subsidiary and Associates Revaluation		-		52,479
Operating Profits Before Changes in Operating Assets and Liabilities		8,614,489		6,584,365
Net Decrease (Increase) in Assets and Liabilities
Due from banks		(13,346,529)		(2,130,064)
Treasury Bills and Other Governmental Notes		5,497,825		(4,897,448)
Trading Financial Assets		(2,474,396)		(1,476,755)
Derivative Financial Instruments		(20,247)		73,193
Loans and Advances to Banks and Customers		(9,495,679)		(8,016,328)
Other Assets		(1,042,543)		(845,028)
Goodwill		(217,078)		-
Intangible Assets		(651,041)		-
Due to Banks		469,384		(242,025)
Due to Customers		33,124,989		25,304,663
Income Tax Obligation Paid		(1,814,609)		(1,179,709)
Other Liabilities		80,304		1,095,918
Net Cash Provided from Operating Activities		18,724,869		14,270,782
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of December 31, 2015		Dec. 31, 2015		Dec. 31, 2014
Cash Flow From Investing Activities
Payment for purchase of subsidiary and associates		-		(17,888)
Proceeds from selling subsidiary and associates		334,451		-
Payment for purchases of property, plant, equipment and branches constructions		(360,587)		(240,265)
Proceeds from redemption of held to maturity financial investments		3,919,074		-
Payment for purchases of held to maturity financial investments		(4,019,548)		(4,973,572)
Payment for purchases of  available for sale financial investments		(25,392,460)		(9,080,132)
Proceeds from selling available for sale financial investments		5,301,726		4,937,801
Proceeds (payments) from real estate investments		884,094		(884,094)
Net Cash Used in Investing Activities		(19,333,250)		(10,258,150)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans		(111,550)		110,725
Dividend Paid		(1,563,646)		(1,253,338)
Capital Increase		94,748		79,299
Net Cash Used in Financing Activities		(1,580,448)		(1,063,314)
Net Increase (Decrease) in Cash and Cash Equivalent during the year		(2,188,829)		2,949,318
Beginning Balance of Cash and Cash Equivalent		14,811,360		11,862,042
Cash and Cash Equivalent At the End of the Year		12,622,531		14,811,360
Cash & Cash Equivalent Comprise:
Cash and Balances with Central Bank		9,848,954		7,502,256
Due From Banks		21,002,305		9,279,896
Treasury Bills and Other  Governmental Notes		22,130,170		30,539,402
Obligatory Reserve Balance With CBE		(8,268,202)		(5,392,596)
Due from Banks with Maturities More than Three Months		(15,478,335)		(5,007,412)
Treasury Bills with Maturity More than Three Months		(16,612,361)		(22,110,186)
Total Cash and Cash Equivalent		12,622,531		14,811,360

Dec. 31, 2014	Issued and Paid in Capital	Legal Reserve	General Reserve	Special Reserves	Reserve for A.F.S Investment Revaluation Diff.	Banking Risk Reserve	Net Profit for the Year	Reserve for Employee Stock Ownership Plan (ESOP)	Total
									EGP Thousands
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 Year	-	-	-	-	-	-	3,647,530	-	3,647,530
Net unrealised gain/(loss) on AFS	-	-	-	-	127,231	-	-	-	127,231
Cost of employees stock ownership plan (ESOP)	-	-	-	-	-	-	-	99,857	99,857
Balance at the End of Year	9,081,734	621,084	1,850,648	28,108	(593,237)	1,991	3,647,530	177,766	14,815,624

SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED DECEMBER 31,  2015

Dec. 31, 2015	Issued and Paid in Capital	Legal Reserve	General Reserve	Special Reserves	Reserve for A.F.S Investment Revaluation Diff.	Banking Risk Reserve	Net Profit for the Year	Reserve for Employee Stock Ownership Plan	Total
Beginning Balance	9,081,734	621,084	1,850,648	28,108	(593,237)	1,991	3,647,530	177,766	14,815,624
Transferred (from) to  bank risk reserve	-	-	-	-	-	522	(522)	-	-
Capital Increase	2,388,869	-	(2,294,121)	-	-	-	-	-	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 for the Year	-	-	-	-	-	-	4,640,718	-	4,640,718
Net unrealised gain/(loss) on AFS	-	-	-	-	(1,609,226)	-	-	-	(1,609,226)
Cost of employees stock ownership plan (ESOP)	-	-	-	-	-	-	-	133,395	133,395
Balance at the End of Period	11,470,603	803,355	1,518,525	30,214	(2,202,463)	2,513	4,640,718	248,148	16,511,613

 

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