Q3'2015 Seperate Financial Statements

RNS Number : 2563F

Commercial Intnl Bank (Egypt) SAE

11 November 2015

 

Commercial International Bank (Egypt) S.A.E.
Unconsolidated Financial Statements
September 30,  2015
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of September 30, 2015
Amounts in EGP Thousands.		Note	Sep. 30, 2015		Dec. 31 ,2014
Assets
Cash and balances with central bank		15	9,230,657		7,502,256
Due from  banks		16	15,690,424		9,279,896
Treasury bills and other governmental notes		17	28,542,497		30,539,402
Trading financial assets		18	6,353,779		3,727,571
Loans and advances to banks, net		19	44,946		118,091
Loans and advances to customers, net		20	57,711,842		49,279,817
Derivative financial instruments		21	77,773		52,188
Financial investments
- Available for Sale		22	43,313,457		27,688,410
- Held to Maturity		22	9,262,579		9,160,746
Investments in subsidiary and associates		23	564,686		564,686
Investment properties		24	-		884,094
Other assets		25	4,114,139		3,745,362
Deferred tax assets		33	207,797		122,110
Property, plant and equipment		26	1,000,660		982,296
Total Assets			176,115,236		143,646,925
Liabilities and Equity
Liabilities
Due to Banks		27	930,072		1,131,385
Due to Customers		28	154,378,886		122,244,933
Derivative Financial Instruments		21	56,362		137,175
Current Income Tax Obligations			1,430,088		1,814,609
Other Liabilities		30	2,520,233		2,541,965
Long Term Loans		29	168,456		242,878
Other Provisions		31	846,280		718,356
Total Liabilities			160,330,377		128,831,301
Equity
Issued & Paid- in Capital		32	9,176,482		9,081,734
Reserves		32	2,854,892		1,908,594
Reserve for Employee Stock Ownership Plan (ESOP)			242,580		177,766
Total Equity			12,273,954		11,168,094
Net Profit of the Period/Year After Tax			3,510,905		3,647,530
Total Equity and Net Profit for the Period/Year			15,784,859		14,815,624
Total Liabilities and Equity			176,115,236		143,646,925
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME  STATEMENT
As of September 30, 2015
Amounts in EGP Thousands.		Note	Sep. 30, 2015		Sep. 30, 2014
Interest and similar income			10,739,385		8,199,148
Interest and similar expense			(4,831,979)		(3,826,333)
Net interest income		6	5,907,406		4,372,815
Fee and Commissions Income			1,383,052		1,179,439
Fee and Commissions Expense			(199,589)		(127,371)
Net Fees and Commission Income		7	1,183,463		1,052,068
Dividend income		8	33,769		28,358
Net trading income		9	439,725		573,952
Profit (Losses) on financial investments		22	158,337		73,866
Administrative expenses		10	(1,412,574)		(1,194,054)
Other operating (expenses) income		11	(334,540)		(484,463)
Impairment (charge) release for credit losses		12	(1,120,280)		(466,534)
Profit before income tax			4,855,306		3,956,008
Income Tax Expense		13	(1,430,088)		(1,337,505)
Deferred Tax Assets		33 & 13	85,687		438
Net Profit for the Period			3,510,905		2,618,941
Earnings per share		14
Basic			3.39		2.53
Diluted			3.33		2.48
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of September 30, 2015
Amounts in EGP Thousands.			Sep. 30, 2015		Sep. 30, 2014
Cash Flow From Operating Activities
Profit Before Income Tax			4,855,306		3,956,008
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities
Depreciation			163,728		157,913
Impairment charge for credit losses			1,120,280		466,534
Other provisions charges			113,569		114,528
Trading financial investments revaluation differences			352,177		(34,356)
Available for sale and held to maturity investments exchange revaluation differences			(96,639)		(38,176)
Financial investments impairment charge (release)			(28,083)		1,493
Utilization of other provisions			(4,649)		(5,733)
Exchange differences of  other provisions			19,004		(951)
Profits from selling property, plant and equipment			(1,127)		(689)
Profits from selling financial investments			(161,897)		(74,947)
Shares based payments			127,827		81,945
Investments in subsidiary and associates revaluation				-		(1)
Operating Profits Before Changes in Operating Assets and Liabilities			6,459,496		4,623,568
Net Decrease (Increase) in Assets and Liabilities
Due from banks			(7,329,312)		(5,316.680)
Treasury bills and other governmental notes			2,335,423		(3,085,888)
Trading financial assets			(2,978,385)		(1,214,266)
Derivative financial instruments			(106,398)		28,381
Loans and advances to banks and customers			(9,479,160)		(4,932,210)
Other assets			(315,794)		(559,213)
Due to banks			(201,313)		204,357
Due to customers			32,133,953		19,004,737
Income tax obligations paid			(1,814,609)		(1,179,709)
Other liabilities			(21,732)		887,223
Net Cash Provided from Operating Activities			18,682,169		8,460,300
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of September 30, 2015			Sep. 30, 2015		Sep. 30, 2014
Cash Flow From Investing Activities
Purchase of subsidiary and associates			-		(7,178)
Purchases of property, plant and equipment			(233,948)		(193,711)
Redemption of held to maturity financial investments			3,917,715		2,473
Purchases of held to maturity financial investments			(4,019,548)		(4,804,951)
Purchases of  available for sale financial investments			(21,237,674)		(6,851,235)
Proceeds from selling available for sale financial investments			4,698,647		4,970,853
Proceeds from selling real estate investments			884,094		5,640
Net cash generated from (used in)  investing activities			(15,990,714)		(6,878,109)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans			(74,422)		98,725
Dividend Paid			(1,563,646)		(1,253,338)
Capital Increase			94,748		79,299
Net Cash Generated from (Used in) Financing Activities			(1,543,320)		(1,075,314)
Net Increase (Decrease) in Cash and Cash Equivalent During the Period			1,148,135		506,877
Beginning Balance of Cash and Cash Equivalent			14,811,360		11,862,042
Cash and Cash Equivalent At the End of the Period			15,959,495		12,368,919
Cash and Cash Equivalent Comprise
Cash and balances with central bank			9,230,657		6,611,568
Due from banks			15,690,424		13,061,562
Treasury bills and other governmental  notes			28,542,497		26,581,039
Obligatory reserve balance with CBE			(7,032,352)		(4,508,216)
Due from banks (time deposits) more than three months			(10,696,968)		(9,078,408)
Treasury bills with maturity more than three months			(19,774,763)		(20,298,626)
Total Cash and Cash Equivalent			15,959,495		12,368,919

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED SEPTEMBER 2014

Sep. 30, 2014	Issued and paid up capital	Legal reserve	General reserve	Special reserve	Reserve For  A.F.S  investments revaluation diff.	Banking risks reserve	Net profit for the period	Reserve for employee stock ownership plan	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 period	-	-	-	-	-	-	2,618,941	-	2,618,941
Net unrealized gain/(loss) on AFS	-	-	-	-	191,752	-	-	-	191,752
Cost of employees stock ownership plan (ESOP)	-	-	-	-	-	-	-	81,945	81,945
Balance at The End of The period	9,081,734	621,084	1,850,648	28,108	(528,716)	1,991	2,618,941	159,854	13,833,644

SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED SEPTEMBER 2015

Sep. 30, 2015	Issued and paid up capital	Legal reserve	General reserve	Special reserve	Reserve For  A.F.S  investments revaluation diff.	Banking risks reserve	Net profit for the period	Reserve for employee stock ownership plan	Total EGP Thousands
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	94,748	-	-	-	-	-	-	-	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 period	-	-	-	-	-	-	3,510,905	-	3,510,905
Net unrealised gain/(loss) on AFS	-	-	-	-	(1,200,599)	-	-	-	(1,200,599)
Cost of employees stock ownership plan (ESOP)	-	-	-	-	-	-	-	127,827	127,827
Balance at The End of The period	9,176,482	803,355	3,812,646	30,214	(1,793,836)	2,513	3,510,905	242,580	15,784,859

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