3rd Quarter Results

RNS Number : 3832C

Commercial Intnl Bank (Egypt) SAE

11 November 2009

 



Commercial International Bank (Egypt) S.A.E.
Unconsolidated Financial Statements
September 30, 2009
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of September 30 2009
Amounts in EGP	Note	30-Sep-2009		31-Dec-2008
Assets
Cash & Due From Central Bank	5	4,173,466,534		4,473,011,942
Due From Banks	6	6,489,758,105		6,411,397,744
Treasury Bills & Other Governmental Notes	7	9,783,643,420		12,449,007,406
Trading Financial Assets	8	790,218,581		497,554,487
Loans & Overdrafts	12&11	27,182,965,732		26,330,327,878
Financial Derivatives	13	392,541,362		704,890,792
Financial Investments:
Available for Sale	9	7,803,503,357		2,762,232,984
Held to Maturity	9	599,198,914		681,263,274
Financial Investments in Subsidiary and associated        companies	14	1,138,311,222		1,138,332,672
Debit Balances and Other Assets	16	1,014,070,928		942,621,482
Deferred Tax	28	36,882,694		21,840,568
Fixed Assets (Net)	17	744,375,704		715,251,587
Total Assets		60,148,936,553		57,127,732,816
Liabilities & Shareholders' Equity
Liabilities
Due to Banks	18	746,253,433		213,470,012
Customer Deposits	19	50,947,438,726		48,938,109,663
Financial Derivatives	13	283,889,414		636,914,744
Credit Balances & Other Liabilities	20	1,088,034,589		1,235,780,102
Long Term Loans	21	96,845,301		109,273,933
Other Provisions	22	362,678,480		363,218,186
Total Liabilities		53,525,139,943		51,496,766,640
Shareholders' Equity
Issued & Paid- in Capital	23	2,925,000,000		2,925,000,000
Reserves	23	2,196,921,519		1,006,080,499
Reserve for employee stock ownership plan (ESOP)		146,845,365		86,727,903
Retained Earnings		(1,942,684)		(1,942,684)
Total Shareholders' Equity		5,266,824,200		4,015,865,718
Net Profit of the Period/ Year		1,356,972,410		1,615,100,458
Total Shareholders' Equity & Net Profit		6,623,796,610		5,630,966,176
Total Liabilities & Shareholders' Equity		60,148,936,553		57,127,732,816
Contingent Liabilities & commitments
Letters of Credit, Guarantees and Other Commitments	24	12,129,864,544		13,290,994,705
INCOME STATEMENT
As of September 30 2009		Sep. 30, 2009		Sep. 30, 2008 (Restated)
Amounts in EGP	Note
Interest and similar income	25	3,045,676,359		2,618,840,929
Interest and similar expense	25	(1,539,561,730)		(1,447,572,006)
Net Interest Income		1,506,114,629		1,171,268,923
Fees & Commissions Income		482,795,216		522,510,157
Fees & Commissions Expense		(49,245,907)		(38,935,409)
Net Income from Fees & Commissions		433,549,309		483,574,748
Dividends Income		124,483,365		127,332,469
Net Trading Income	26	348,214,943		355,494,768
Provisions	12&22	(88,273,820)		(199,380,131)
Profits from Financial Investments	9	62,344,371		122,511,815
Administrative Expenses		(787,045,957)		(642,814,015)
Other Operating (Expenses) Income	10	(431,001)		109,931,639
Net Profit Before Tax		1,598,955,839		1,527,920,216
Income Tax	29	(257,025,555)		(177,896,316)
Deferred Tax	28&29	15,042,126		(29,176,368)
Net Profit After Tax		1,356,972,410		1,320,847,532
Earnings Per Share
Basic	30	4.11		4.00
Diluted	30	4.02		3.96
CASH FLOW STATEMENT 1a
As of September 30 2009		Sep. 30, 2009		Sep. 30, 2008 (Restated)
Amounts in EGP
Cash Flow From Operating Activities
Net Income Before Tax		1,598,955,839		1,527,920,216
Adjustments To Reconcile Net Income
To Net Cash Provided by operating Activities
Depreciation		139,198,324		100,024,494
Provisions (Formed during the period)		88,273,819		199,780,767
Trading Financial Investment Evaluation Differences		4,743,400		28,630,787
Impairment of Assets		4,690,062		39,349,989.66
Utilization of Provision (Other than Provision for Doubtful Debts)		(5,887,041)		(10,539,941)
Provisions no longer used		-		(94,706,704)
FCY Revaluation Differences of Provision Balances (Except Doubtful Debts)		(259,087)		(478,731)
Profits From Selling Fixed Assets		(15,344,069)		(5,008,077)
Profits From Selling financial Investments		(3,416,690)		(160,187,303)
Profit from Selling an investment in subsidiary		-		(50,258,991)
FCY Revaluation Difference of Long Term Loans		434,463		(623,325)
Share Based Payments		60,117,462		43,908,011
Operating Profit Before Changes in Operating Assets and Liabilities		1,871,506,482		1,617,811,193
Net Decrease (Increase) in Assets
Due from banks		(597,919,600)		3,295,057,442
Treasury Bills & Other Governmental Notes		2,202,353,652		(1,683,978,012)
Trading Financial Assets		(297,407,494)		(58,815,273)
Financial Derivatives (Net)		(40,675,900)		(29,022,253)
Loans & Overdrafts		(930,946,199)		(6,446,213,476)
Net Increase (Decrease) In Liabilities
Debit Balances & Other Assets		(121,775,850)		(551,458,400)
Due to Banks		532,783,421		787,563,625
Customer Deposits		2,009,329,063		8,378,723,465
Credit Balances & Other Liabilities		(404,771,069)		(75,160,573)
Net Cash Provided from Operating Activities		4,222,476,506		5,234,507,738
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of September 30 2009		Sep. 30, 2009		Sep. 30, 2008
Cash Flow From Investing Activities
Sales of subsidiaries & associated companies		53,998,565		(749,581,256)
Purchase of Fixed Assets, premises and Fitting-out of Branches		(107,011,020)		(120,421,710)
Redemption of Held-to-Maturity Financial Investments		82,086,393		132,528,735
Held to Maturity Financial Investment Purchases		(22,033)		-
Available for Sale Financial Investments		(5,042,543,745)		(1,550,668,015)
Net Cash (Used in) Provided from Investing  Activities		(5,013,491,840)		(2,288,142,246)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans		(12,863,095)		(52,181,207)
Dividends Paid		(478,236,553)		(336,727,470)
				-
Net Cash (Used in) Financing Activities		(491,099,648)		(388,908,677)
Net cash & cash equivalent changes		(1,282,114,982)		2,557,456,815
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		7,339,925,090		9,336,609,363
Cash & Cash Equivalent are Represented as Follows
Cash and Due from Central Bank		4,173,466,533		7,286,466,976
Due From Banks		6,489,758,105		10,442,378,497
Treasury Bills & other Governmental Notes		9,783,643,420		4,901,473,704
Due from Banks (time deposits)		(6,314,873,872)		(9,969,161,092)
Treasury Bills with Maturity More than Three Months		(6,792,069,096)		(3,324,548,722)
Total Cash & Cash Equivalent		7,339,925,090		9,336,609,363

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY

As of September 30 2009

2008	Capital	Legal Reserves	General Reserves	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	0	29,159,584	4,053,084,355
Derivatives revaluations settlement*	0	0	0	(13,571,026)	0	0	0	0	(13,571,026)
Capital Increase*	975,000,000	0	(975,000,000)	0	0	0	0	0	0
Net Profit of the year	0	0	0	0	0	0	1,615,100,458	0	1,615,100,458
Usage part of reserve	0	0	0	0	0	(81,215,930)	0	0	(81,215,930)
Reserve for employee stock ownership plan ESOP**	0	0	0	0	0	0	0	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 Reserves	General Reserves*	Retained Earnings*	Special Reserves	Reserves for A.F.S* Inv. Revaluation Diff.	Profits for the period	Reserve for Employee Stock ownership plan ESOP	Total
Balance at beginning of the period	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	0	80,755,023	1,056,108,882	0	0	0	(1,136,863,905)	0	0
Dividends Paid	0	0	0	0	0	0	(478,236,553)	0	(478,236,553)
Net Profits of the Period	0	0	0	0	0	0	1,356,972,410	0	1,356,972,410
Addition from financial Investment Revaluation	0	0	0	0	0	53,977,115	0	0	53,977,115
Reserve for employee stock ownership plan ESOP**	0	0	0	0	0	0	0	60,117,462	60,117,462
Balance at the end of the period	2,925,000,000	513,606,534	1,463,656,484	(1,942,684)	185,993,785	33,664,716	1,356,972,410	146,845,365	6,623,796,610

* Note No. (23) 

** Note No. (31)

 

END

 

 

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