Q3'2014 Standalone Financial Statements

RNS Number : 7279W

Commercial Intnl Bank (Egypt) SAE

12 November 2014

 

Commercial International Bank (Egypt) S.A.E.
Unconsolidated Financial Statements
September 30,  2014
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of September 30, 2014
Amounts in EGP Thousands.	Note	Sep. 30, 2014		Dec. 31 ,2013
Assets
Cash and Balances with Central Bank	15	6,611,568		4,796,240
Due From Banks	16	13,061,562		8,893,671
Treasury Bills and Other Governmental Notes	17	26,581,039		23,654,813
Trading Financial Assets	18	3,494,970		2,246,348
Loans and Advances to Banks	19	142,304		132,422
Loans and Advances to Customers	20	46,293,746		41,837,952
Derivative Financial Instruments	21	67,779		103,085
Financial Investments
Available for Sale	22	25,547,265		23,363,501
Held to Maturity	22	8,989,652		4,187,174
Investments in Subsidiary and Associates	23	606,456		599,277
Investment Property	24	4,056		9,696
Other Assets	25	3,475,731		2,879,795
Deferred Tax	33	84,193		83,755
Property, Plant and Equipment	26	964,303		964,539
Total Assets		135,924,624		113,752,268
Liabilities and Equity
Liabilities
Due to Banks	27	1,577,767		1,373,410
Due to Customers	28	115,945,007		96,940,270
Derivative Financial Instruments	21	107,954		114,879
Current Income Tax Obligations		1,337,505		1,179,709
Other Liabilities	30	2,333,270		1,446,040
Long Term Loans	29	230,878		132,153
Other Provisions	31	558,599		450,755
Total Liabilities		122,090,980		101,637,223
Equity
Issued & Paid- in Capital	32	9,081,734		9,002,435
Reserves	32	1,973,115		307,224
Reserve for Employee Stock Ownership Plan (ESOP)		159,854		190,261
Total Equity		11,214,703		9,499,920
Net Profit of the Period/Year After Tax		2,618,941		2,615,125
Total Equity and Net Profit for the Period/Year		13,833,644		12,115,045
Total Liabilities and Equity		135,924,624		113,752,268
Contingent Liabilities and Commitments
Letters of Credit, Guarantees and other commitments	37	21,168,311		16,182,490
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME  STATEMENT
As of September 30, 2014
Amounts in EGP Thousands.	Note	Sep. 30, 2014		Sep. 30, 2013
Interest and Similar Income		8,199,148		6,959,203
Interest and Similar Expense		(3,826,333)		(3,274,451)
Net Interest Income	6	4,372,815		3,684,752
Fee and Commissions Income		1,179,439		974,966
Fee and Commissions Expense		(127,371)		(93,749)
Net Fees and Commission Income	7	1,052,068		881,217
Dividend Income	8	28,358		19,626
Net Trading Income	9	573,952		571,097
Profit (losses) from Financial Investments	22	73,866		(347,555)
Administrative Expenses	10	(1,194,054)		(1,034,830)
Other Operating (Expenses) Income	11	(484,463)		(288,339)
Impairment (Charge) Release for Credit Losses	12	(466,534)		(565,928)
Profit before Income Tax		3,956,008		2,920,040
Income Tax Expense	13	(1,337,505)		(1,020,767)
Deferred Tax	33 & 13	438		(44,321)
Net Profit of the Period		2,618,941		1,854,952
Earnings per share	14
Basic		2.55		1.87
Diluted		2.50		1.85
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of September 30, 2014
Amounts in EGP Thousands.		Sep. 30, 2014		Sep. 30, 2013
Cash Flow From Operating Activities
Profit Before Income Tax		3,956,008		2,920,040
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities
Depreciation		157,913		153,471
Impairment Charges for credit losses		466,534		565,928
Other Provisions Charges		114,528		53,297
Trading Financial Investment Revaluation Differences		(34,356)		16,497
Available for sale and held to maturity investments exchange revaluation differences		(36,176)		(114,126,028)
Financial Investments Impairment Charge (Release)		1,493		(30,528)
Utilization of Other Provisions		(5,733)		(1,117)
Other Provisions No Longer Used		-		(142)
Exchange Differences of Other Provisions		(951)		14,405
Profits From Selling Property, Plant and Equipment		(689)		(748)
Profits From Selling Financial Investments		(74,947)		(2,375)
Share Based Payments		81,945		71,886
Investments in Subsidiary and Associates Revaluation		(1)		346,618
Operating Profits Before Changes in Operating Assets and Liabilities		4,623,568		3,993,106
Net Decrease (Increase) in Assets and Liabilities
Due from banks		(4,138,300)		(966,216)
Treasury Bills & Other Governmental Notes		(3,085,888)		(8,063,793)
Trading Financial Assets		(1,214,266)		(705,712)
Derivative Financial Instruments		28,381		30,969
Loans and Advances to Banks and Customers		(4,932,210)		(794,007)
Other Assets		(559,213)		(52,175)
Due to Banks		204,357		(1,082,770)
Due to Customers		19,004,737		15,275,027
Income Tax Obligations Paid		(1,179,709)		(819,362)
Other Liabilities		887,223		165,393
Net Cash Provided from Operating Activities		9,638,680		6,980,460
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of September 30, 2014		Sep. 30, 2014		Sep. 30, 2013
Cash Flow From Investing Activities
Purchase of Subsidiary and Associates		(7,178)		(7,528)
Purchases of Property, Plant and Equipment		(193,711)		(433,398)
Redemption of Held-to-Maturity Financial Investments		2,473		14,139
Purchases of Held to Maturity Financial Investments		(4,804,951)		-
Purchases of Available for Sale Financial Investments		(6,851,235)		(4,969,114)
Proceeds from Selling Available for Sale Financial Investments		4,970,853		3,599,317
Proceeds from Selling Real Estate Investments		5,640		700
Net Cash Generated from (Used in) Investing  Activities		(6,878,109)		(1,795,884)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans		98,725		29,610
Dividend Paid		(1,253,338)		(1,055,843)
Capital Increase		79,299		29,349
Net Cash Generated from (Used in) Financing Activities		(1,075,314)		(996,884)
Net Increase (Decrease) in Cash and Cash Equivalent During the Period		1,685,257		4,187,692
Beginning Balance of Cash and Cash Equivalent		11,758,996		5,536,080
Cash and Cash Equivalent At the End of the Period		13,444,253		9,723,772
Cash & Cash Equivalent Comprise
Cash and Balances with Central Bank		6,611,568		3,956,054
Due From Banks		13,061,562		8,903,524
Treasury Bills and Other  Governmental Notes		26,581,039		21,687,838
Obligatory Reserve Balance With CBE		(3,432,882)		(3,201,658)
Due from Banks (Time Deposits) More than Three Months		(9,078,408)		(5,495,114)
Treasury Bills with Maturity  More than Three Months		(20,298,626)		(16,126,872)
Total Cash & Cash Equivalent		13,444,253		9,723,772

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED SEPTEMBER 2013

Sep. 30, 2013	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (losses) (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	5,972,275	380,349	2,037,107	1,002	117,806	153,507	103,717	2,380,684	164,761	11,311,208
Capital Increase	29,348	-	-	-	-	-	-	-	-	29,348
Transferred to Reserves	-	110,016	1,277,121	-	2,387	-	-	(1,325,842)	(63,682)	-
Dividend Paid	-	-	-	(1,002)	-	-	-	(1,054,841)	-	(1,055,843)
Net Profit of the Period	-	-	-	-	-	-	-	1,854,952	-	1,854,952
Transfer from Special Reserve	-	-	92,826	-	(92,826)	-	-	-	-	-
Net Change at Fair Value of AFS Financial Investment	-	-	-	-	-	(655,812)	-	-	-	(655,812)
Transferred (From) to Bank Risk Reserve	-	-	-	-	-	-	(65,664)	65,664	-	-
Reserve for Employee Stock ownership plan ESOP	-	-	-	-	-	-	-	-	71,885	71,885
Balance at the End of Period	6,001,623	490,365	3,407,054	-	27,367	(502,305)	38,053	1,920,617	172,964	11,555,738

SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED SEPTEMBER 2014

Sep. 30, 2014	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (losses) (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	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 of the Period	-	-	-	-	-	-	-	2,618,941	-	2,618,941
Net Change at Fair Value of AFS Financial Investment	-	-	-	-	-	191,752	-	-	-	191,752
Reserve for Employee Stock ownership plan ESOP	-	-	-	-	-	-	-	-	81,945	81,945
Balance at the End of Period	9,081,734	621,084	1,850,648	-	28,108	(528,716)	1,991	2,618,941	159,854	13,833,644

 

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