Stand Alone Financials

RNS Number : 3625X

Commercial Intnl Bank (Egypt) SAE

12 August 2009

 



Commercial International Bank (Egypt) S.A.E.
Financial Statements
June 30, 2009
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of June 30 2009
Amounts in L.E.	Note	30-June 2009		31-Dec-2008
Assets
Cash & Due From Central Bank	5	4,114,701,616		4,473,011,942
Due From Banks	6	7,807,348,485		6,411,397,744
Treasury Bills & Other Governmental Notes	7	11,154,734,981		12,449,007,406
Trading Financial Assets	8	774,306,116		497,554,487
Loans & Overdrafts	12&11	27,161,846,172		26,330,327,878
Financial Investments:
Available for Sale	9	7,575,555,122		2,762,232,984
Held to Maturity	9	638,693,110		681,263,274
Financial Investments in Subsidiary and associated        companies	14	1,138,493,937		1,138,332,672
Debit Balances and Other Assets	16	754,460,068		942,621,482
Deferred Tax	28	31,220,934		21,840,568
Fixed Assets (Net)	17	773,811,530		715,251,587
Total Assets		62,355,894,834		57,127,732,816
Liabilities & Shareholders' Equity
Liabilities
Due to Banks	18	3,573,891,247		213,470,012
Customer Deposits	19	50,929,446,540		48,938,109,663
Financial Derivatives	13	308,473,371		636,914,744
Credit Balances & Other Liabilities	20	869,125,264		1,235,780,102
Long Term Loans	21	108,168,665		109,273,933
Other Provisions	22	375,312,389		363,218,186
Total Liabilities		56,164,417,476		51,496,766,640
Shareholders' Equity
Issued & Paid- in Capital	23	2,925,000,000		2,925,000,000
Reserves	23	2,207,473,741		1,006,080,499
Reserve for employee stock ownership plan (ESOP)		126,996,263		86,727,903
Retained Earnings		(1,942,684)		(1,942,684)
Total Shareholders' Equity		5,257,527,320		4,015,865,718
Net Profit of the Period/ Year		933,950,038		1,615,100,458
Total Shareholders' Equity & Net Profit		6,191,477,358		5,630,966,176
Total Liabilities & Shareholders' Equity		62,355,894,834		57,127,732,816
Contingent Liabilities & commitments
Letters of Credit, Guarantees and Other Commitments	24	12,991,908,320		13,290,994,705
INCOME STATEMENT
As of June. 30 2009		June 30, 2009		June 30, 2008 (Restated)
Amounts in LE.	Note
Interest and similar income	25	2,012,664,456		1,684,590,269
Interest and similar expense	25	(1,059,411,520)		(928,362,172)
Net Interest Income		953,252,936		756,228,097
Fees & Commissions Income		313,645,336		363,936,283
Fees & Commissions Expense		(31,987,769)		(23,332,096)
Net Income from Fees & Commissions		281,657,567		340,604,187
Dividends Income		124,448,940		124,108,529
Net Trading Income	26	319,080,163		229,790,721
Provisions	12&22	(61,497,940)		(164,354,750)
(Losses) Profits from Financial Investments	9	31,032,893		94,481,354
Administrative Expenses		(530,589,594)		(407,483,408)
Other Operating (Expenses) Income	10	(16,262,131)		132,414,060
Net Profit Before Tax		1,101,122,834		1,105,788,790
Income Tax	29	(176,553,162)		(105,794,579)
Deferred Tax	28&29	9,380,366		(32,270,421)
Net Profit After Tax		933,950,038		967,723,790
Earnings Per Share
Basic		2.83		2.93
Diluted		2.76		2.90
CASH FLOW STATEMENT 1a
As of June. 30 2008		June 30, 2009		June 30, 2008 (Restated)
Amounts in LE.
Cash Flow From Operating Activities
Net Income Before Tax		1,101,122,834		1,105,788,790
Adjustments To Reconcile Net Income
To Net Cash Provided by operating Activities
Depreciation		94,192,342		65,209,394
Provisions (Formed during the period)		61,497,940		164,755,386
Trading Financial Investment Evaluation Differences		(20,074,180)		15,280,544
Impairment of Assets		(1,163,011)		-
Utilization of Provision (Other than Provision for Doubtful Debts)		(5,061,073)		(10,361,191)
Provisions no longer used		-		(94,706,704)
FCY Revaluation Differences of Provision Balances (Except Doubtful Debts)		1,916,734		(1,783,606)
Losses From Selling of Fixed Assets		(15,393,221)		(5,034,478)
Losses From Selling of financial Investments		(45,535,354)		(60,545,338)
Losses from Selling an investment subsidiary		-		(15,258,991)
FCY Revaluation Difference of Long Term Loans		308,628		729,177
Share Based Payments		40,268,360		28,850,246
Operating Profit Before Changes in Operating Assets and Liabilities		1,212,079,998		1,157,923,229
Net Decrease (Increase) in Assets
Due from banks		(1,910,710,733)		(1,015,132,615)
Treasury Bills & Other Governmental Notes		2,216,468,549		55,781,462
Trading Financial Assets		(256,677,448)		(205,492,841)
Financial Derivatives (Net)		(54,273,344)		(28,138,148)
Loans & Overdrafts		(873,938,640)		(3,902,357,346)
Net Increase (Decrease) In Liabilities
Debit Balances & Other Assets		129,174,480		(629,643,698)
Due to Banks		3,360,421,235		1,741,061,367
Customer Deposits		1,991,336,877		6,103,350,907
Credit Balances & Other Liabilities		(543,208,000)		4,449,444
Net Cash Provided from Operating Activities		5,270,672,974		3,281,801,761
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of June. 30 2009		June 30, 2009		June 30, 2008
Cash Flow From Investment Activities
Sales of subsidiaries & associated companies		64,368,072		18,126,009
Purchase of Fixed Assets, premises and Fitting-out of Branches		(82,211,182)		(80,245,398)
Redemption of Held-to-Maturity Financial Investments		48,739,592		157,040,360
Held to Maturity Financial Investment Purchases		(6,169,428)		-
Available for Sale Financial Investments		(4,766,623,773)		(1,129,488,697)
Net Cash (Used in) Provided from Investing  Activities		(4,741,896,719)		(1,034,567,726)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans		(1,413,896)		(36,184,758)
Dividends Paid		(478,236,553)		(336,727,470)
				-
Net Cash (Used in) Financing Activities		(479,650,449)		(372,912,228)
Net cash & cash equivalent changes		49,125,805		1,874,321,807
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		8,671,165,877		8,653,474,355
Cash & Cash Equivalent are Represented as Follows
Cash and Due from Central Bank		4,114,701,615		7,218,498,485
Due From Banks		7,807,348,485		14,522,244,685
Treasury Bills & other Governmental Notes		11,154,734,981		2,776,871,582
Due from Banks (time deposits)		(7,627,665,005)		(14,279,351,149)
Treasury Bills with Maturity More than Three Months		(6,777,954,199)		(1,584,789,248)
Total Cash & Cash Equivalent		8,671,165,877		8,653,474,355

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY

As of June 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
Beginning 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
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	933,950,038	0	933,950,038
Addition from financial Investment Revaluation	0	0	0	0	0	64,529,337			64,529,337
Reserve for employee stock ownership plan ESOP	0	0	0	0	0	0	0	40,268,360	40,268,360
Ending Balance	2,925,000,000	513,606,534	1,463,656,484	(1,942,684)	185,993,785	44,216,938	933,950,438	126,996,263	6,191,477,358

* Note No. (23) 

** Note No. (31)

 

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