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

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

Trading Financial Assets

1,472,281,763

561,084,273

Loans and Advances to Banks

1,178,867,739

1,395,594,609

Loans and Advances to Customers

40,698,313,773

39,669,785,864

Derivative Financial Investments

137,459,761

146,544,656

Financial Investments

Available for Sale

21,161,884,032

15,412,566,069

Held to Maturity

4,205,753,328

29,092,920

Investments in Subsidiary and Associates

938,033,700

995,595,778

Investment Property

10,395,686

12,774,686

Other Assets

2,459,025,844

1,518,509,876

Deferred Tax

129,133,209

95,141,726

Property, Plant and Equipment

684,527,896

636,775,294

Total Assets

94,405,391,302

85,628,219,033

Liabilities and Equity

Liabilities

Due to Banks

1,714,862,716

3,340,794,517

Due to Customers

78,834,726,890

71,574,047,530

Derivative Financial Instruments

119,099,260

114,287,990

Other Liabilities

2,034,351,571

1,313,785,436

Long Term Loans

80,495,238

99,333,376

Other Provisions

310,648,113

264,625,909

Total Liabilities

83,094,183,788

76,706,874,758

Equity

Issued & Paid- in Capital

5,972,275,410

5,934,562,990

Reserves

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

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

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

835,501,578

778,169,509

Dividend Income

32,234,196

59,921,078

Net Trading Income

565,727,965

368,912,520

Profit from Financial Investments

(116,514,246)

19,799,495

Administrative Expenses

(1,444,645,467)

(1,336,701,608)

Other Operating (Expenses) Income

(109,790,791)

(68,220,065)

Impairment Charge for Credit Loses

(609,971,077)

(320,648,863)

Net Profit before Tax

3,053,218,102

2,179,777,182

Income Tax Expense

(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

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

(1,873,813)

Exchange Difference of Long Term Loans

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