CIB 1st half Unconsolidated results

RNS Number : 6129L

Commercial Intnl Bank (Egypt) SAE

14 August 2013

 



Commercial International Bank (Egypt) S.A.E.
Unconsolidated Financial Statements
June 30,  2013
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of June 30, 2013
Amounts in EGP.	Note	June 30, 2013		Dec. 31 ,2012
Assets
Cash and Due with Central Bank	15	6,417,883,889		5,393,974,124
Due From Banks	16	9,808,438,509		7,957,710,034
Treasury Bills and Other Governmental Notes	17	17,772,315,963		7,978,030,413
Trading Financial Assets	18	1,767,030,846		1,472,281,763
Loans and Advances to Banks	19	118,736,640		1,178,867,739
Loans and Advances to Customers	20	42,445,725,873		40,698,313,773
Derivative Financial Investments	21	80,138,385		137,459,761
Financial Investments
Available for Sale	22	19,003,918,550		21,161,884,032
Held to Maturity	22	4,193,893,702		4,205,753,328
Investments in Subsidiary and Associates	23	949,599,840		938,033,700
Investment Property	24	9,695,686		10,395,686
Other Assets	25	2,600,949,490		2,459,025,844
Deferred Tax	33	133,524,069		129,133,209
Property, Plant and Equipment	26	837,368,544		684,527,896
Total Assets		106,139,219,986		94,405,391,302
Liabilities and Equity
Liabilities
Due to Banks	27	953,508,142		1,714,862,716
Due to Customers	28	91,288,133,619		78,834,726,890
Derivative Financial Instruments	21	86,538,114		119,099,260
Other Liabilities	30	2,068,011,420		2,034,351,571
Long Term Loans	29	117,795,397		80,495,238
Other Provisions	31	394,126,748		310,648,113
Total Liabilities		94,908,113,440		83,094,183,788
Equity
Issued & Paid- in Capital	32	6,001,623,790		5,972,275,410
Reserves	32	3,756,529,602		2,970,458,093
Reserve for Employee Stock Ownership Plan (ESOP)		149,002,252		164,761,121
Retained Earnings		-		1,001,979
Total Equity		9,907,155,644		9,108,496,603
Net Profit of the Period/Year After Tax		1,323,950,902		2,202,710,911
Total Equity and Net Profit for the Period/Year		11,231,106,546		11,311,207,514
Total Liabilities and Equity		106,139,219,986		94,405,391,302
Contingent Liabilities and Commitments
Letters of Credit, Guarantees and other commitments	37	15,834,465,580		14,897,789,005
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME  STATEMENT
As of June 30, 2013
Amounts in EGP.	Note	June 30, 2013		June 30, 2012
Interest and Similar Income		4,503,577,501		3,595,247,156
Interest and Similar Expense		(2,097,760,076)		(1,801,001,713)
Net Interest Income	6	2,405,817,425		1,794,245,443
Fee and Commissions Income		668,595,343		435,644,889
Fee and Commissions Expense		(63,131,885)		(47,766,855)
Net Income from Fees and Commissions	7	605,463,458		387,878,034
Dividend Income	8	12,274,522		21,744,400
Net Trading Income	9	375,678,042		201,385,483
Profit from Financial Investments	22	2,214,021		(23,195,737)
Administrative Expenses	10	(878,233,268)		(701,569,640)
Other Operating (Expenses) Income	11	(41,714,369)		(57,626,545)
Impairment Charge for Credit Losses	12	(490,785,133)		(159,244,620)
Net Profit before Tax		1,990,714,698		1,463,616,818
Income Tax Expense	13	(671,154,656)		(427,623,435)
Deferred Tax	33 & 13	4,390,860		11,652,967
Net Profit of the Period		1,323,950,902		1,047,646,350
Earning per share	14
Basic		1.97		1.77
Diluted		1.94		1.74
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of June 30, 2013
Amounts in EGP.		June 30, 2013		June 30, 2012
Cash Flow From Operating Activities
Net Profit Before Tax		1,990,714,698		1,463,616,818
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities
Depreciation		90,273,799		83,198,082
Assets Impairment Charges		490,785,133		159,244,620
Other Provisions Charges		69,071,603		86,724,165
Trading Financial Investment Revaluation Differences		(1,316,714)		(24,186,619)
Available for sale and held to maturity investments exchange revaluation differences		(136,563,408)		(6,075,233)
Financial Investments Impairment Charge (Release)		(31,266,724)		16,662,686
Utilization of Other Provisions		(978,083)		(71,749,072)
Other Provisions No Longer Used		(141,520)		(531,054)
Exchange Differences of Other Provisions		15,526,634		(711,571)
Profits From Selling Property, Plant and Equipment		(495,294)		(1,633,796)
Profits From Selling Financial Investments		(2,228,843)		(8,421,272)
Exchange Difference of  Long Term Loans		-		(20,812)
Share Based Payments		47,923,358		44,135,782
Investments in Subsidiary and Associates Revaluation		(4,038,840)		-
Operating Profits Before Changes in Operating Assets and Liabilities		2,527,265,799		1,740,252,724
Net Decrease (Increase) in Assets and Liabilities
Due from banks		(1,826,250,534)		(962,139,101)
Treasury Bills & Other Governmental Notes		(6,760,815,159)		(1,601,411,260)
Trading Financial Assets		(293,432,368)		(704,495,221)
Derivative Financial Instruments		24,760,230		28,057,118
Loans and Advances to Banks and Customers		(1,178,066,134)		135,430,874
Other Assets		(17,542,388)		(708,987,508)
Due to Banks		(761,354,574)		(1,555,779,809)
Due to Customers		12,453,406,729		5,227,605,274
Other Liabilities		(637,494,806)		(312,906,688)
Net Cash Provided from Operating Activities		3,530,476,795		1,285,626,403
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of June 30, 2013		June 30, 2013		June 30, 2012
Cash Flow From Investing Activities
Purchase of Subsidiary and Associates		(7,527,300)		(16,625,622)
Purchases of Property, Plant and Equipment		(367,000,411)		(106,448,191)
Redemption of Held-to-Maturity Financial Investments		11,859,626		-
Purchases of Held to Maturity Financial Investments		-		(3,634,146,232)
Purchases of Available for  Sale Financial Investments		(778,731,294)		(4,841,916,012)
Proceeds from Selling Available for Sale Financial Investments		2,681,275,310		4,989,109,038
Proceeds from Selling Real Estate Investments		700,000		2,750,000
Net Cash Generated from (Used in) Investing  Activities		1,540,575,931		(3,607,277,019)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans		37,300,159		(8,237,604)
Dividend Paid		(1,055,843,165)		(806,206,521)
Capital Increase		29,348,380		37,712,420
Net Cash Generated from (Used in) Financing Activities		(989,194,626)		(776,731,705)
Net Increase (Decrease) in Cash and Cash Equivalent		4,081,858,100		(3,098,382,322)
Beginning Balance of Cash and Cash Equivalent		5,536,080,094		8,081,134,203
Cash and Cash Equivalent Balance At the End of the Period		9,617,938,194		4,982,751,881
Cash & Cash Equivalent Comprise
Cash and Balances with Central Bank		6,417,883,889		5,542,320,904
Due From Banks		9,808,438,509		9,711,796,359
Treasury Bills and Other  Governmental Notes		17,772,315,963		9,365,804,058
Obligatory Reserve Balance With CBE		(3,284,941,291)		(3,028,051,899)
Due from Banks (Time Deposits) More than Three Months		(6,271,865,456)		(6,186,338,796)
Treasury Bills with Maturity  More than Three Months		(14,823,893,420)		(10,422,778,745)
Total Cash & Cash Equivalent		9,617,938,194		4,982,751,881

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED JUNE 2012

June 30, 2012	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (EGP)	Special Reserves (EGP)	Reserve for A.F.S Revaluation Diff. (EGP)	Banking Risk Reserve (EGP)	Net Profit of the Period (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)	-
Dividend Paid	-	-	-	(15,105,920)	-	-	-	(791,100,601)	-	(806,206,521)
Net Profit of the Period	-	-	-	-	-	-	-	1,047,646,350	-	1,047,646,350
Transfer from Special Reserve	-	61,697,292	8,143,225	1,001,979	(70,842,496)	-	-	-	-	-
Addition from Financial Investment Revaluation	-	-	-	-	-	129,911,949	-	-	-	129,911,949
Transferred to Bank Risk Reserve	-	-	-	-	-	-	(153,575,808)	153,575,808	-	-
Reserve for Employee Stock ownership plan ESOP	-	-	-	-	-	-	-	-	44,135,782	44,135,782
Balance at the End of Period	5,972,275,410	380,348,755	2,037,107,372	1,001,979	117,805,566	(593,158,869)	128,113,811	1,201,222,158	129,828,074	9,374,544,256

SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED JUNE 2013

June 30, 2013	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (EGP)	Special Reserves (EGP)	Reserve for A.F.S Investments Revaluation Difference (EGP)	Banking Risks Reserve (EGP)	Net Profits of the Period (EGP)	Reserve for Employee Stock Ownership Plan (ESOP)	Total (EGP)
Beginning Balance	5,72,275,410	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
Capital Increase	29,348,380	-	-	-	-	-	-	-	-	29,348,380
Transferred to Reserves	-	110,016,166	1,277,120,890	-	2,387,583	-	-	(1,325,842,412)	(63,682,227)	-
Dividend Paid	-	-	-	(1,001,979)	-	-	-	(1,054,841,186)	-	(1,055,843,165)
Net Profit of the Period	-	-	-	-	-	-	-	1,323,950,902	-	1,323,950,902
Addition from Financial Investment Revaluation	-	-	-	-	-	(425,480,442)	-	-	-	(425,480,442)
Transferred to Bank Risk Reserve	-	-	-	-	-	-	(15,016,039)	15,016,039	-	-
Reserve for Employee Stock Ownership Plan ESOP	-	-	-	-	-	-	-	-	47,923,358	47,923,358
Balance at the end of the Period	6,001,623,790	490,364,921	3,314,228,261	-	120,193,149	(271,973,661)	88,700,893	1,338,966,941	149,002,252	11,231,106,546

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