Year-end 2015 Separate Financials

RNS Number : 7178O
Commercial Intnl Bank (Egypt) SAE
11 February 2016
 

 

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Commercial International Bank (Egypt) S.A.E.

Separate Financial Statements

December 31,  2015











 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 





COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION





As of December 31, 2015






Note

Dec.31, 2015


Dec. 31 ,2014



EGP Thousands


EGP Thousands

Assets





Cash and Balances with Central Bank

15

9,848,954


7,502,256

Due From Banks

16

21,002,305


9,279,896

Treasury Bills and Other Governmental Notes

17

22,130,170


30,539,402

Trading Financial Assets

18

5,848,377


3,727,571

Loans and Advances to Banks, net

19

38,443


118,091

Loans and Advances to Customers, net

20

57,172,705


49,279,817

Derivative Financial Instruments

21

80,995


52,188

Financial Investments





Available for Sale

22

46,289,075


27,688,410

Held to Maturity

22

9,261,220


9,160,746

Investments in Subsidiary and Associates

23

12,600


564,686

Non-current assets held for sale


503,066


-

Investment Properties

24

-


884,094

Other Assets

25

4,799,937


3,745,362

Goodwill


209,842


-

Intangible Assets


629,340


-

Deferred Tax Assets (Liabilities)

33

258,157


122,110

Property, Plant and Equipment

26

1,107,905


982,296

Total Assets


179,193,091


143,646,925






Liabilities and Equity





Liabilities










Due to Banks

27

1,600,769


1,131,385

Due to Customers

28

155,369,922


122,244,933

Derivative Financial Instruments

21

145,735


137,175

Current Tax Liabilities


1,949,694


1,814,609

Other Liabilities

30

2,622,269


2,541,965

Long Term Loans

29

131,328


242,878

Other Provisions

31

861,761


718,356

Total Liabilities


162,681,478


128,831,301






Equity





Issued and Paid- in Capital

32

11,470,603


9,081,734

Reserves

32

152,144


1,908,594

Reserve for Employee Stock Ownership Plan (ESOP)


248,148


177,766

Total Equity


11,870,895


11,168,094

Net Profit f the Year


4,640,718


3,647,530

Total Equity and Net Profit for the Year


16,511,613


14,815,624

Total Liabilities and Equity


179,193,091


143,646,925

 

 

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME  STATEMENT





As of December 31, 2015
















Note

Dec. 31, 2015


Dec. 31, 2014



EGP  Thousands


EGP  Thousands

Interest and Similar Income


14,765,337


11,549,834

Interest and Similar Expense


(6,650,008)


(5,274,133)






Net Interest Income

6

8,115,329


6,275,701






Fee and Commissions Income


1,932,054


1,669,224

Fee and Commissions Expense


(299,696)


(181,498)

Net fee and commission income

7

1,632,358


1,487,726

Dividend Income

8

35,062


28,514

Net Trading Income

9

710,398


717,001

Profit (Losses) on Financial Investments

22

270,998


(29,335)

Administrative Expenses

10

(2,028,404)


(1,704,500)

Other Operating (Expenses) Income

11

(570,000)


(762,529)

Goodwill Amortization


(7,236)


-

Intangible Assets Amortization


(21,701)


-

Impairment Charge for Credit Losses

12

(1,682,439)


(588,794)

Net Profit before Income Tax


6,454,365


5,423,784

Income Tax Expense

13

(1,949,694)


(1,814,609)

Deferred Tax Assets (Liabilities)

33 & 13

136,047


38,355

Net Profit for the Year


4,640,718


3,647,530

Earnings per share

14




Basic


3.58


2.81

Diluted


3.53


2.78

 

 

 

 

 

 

 

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a





As of December 31, 2015







Dec. 31, 2015


Dec. 31, 2014



EGP  Thousands


EGP  Thousands

Cash Flow From Operating Activities





Profit Before Income Tax


6,454,365

 


5,423,784

Adjustments To Reconcile Net Profit to Net Cash

Provided by Operating Activities





Fixed Assets Depreciation


223,510


213,771

Impairment Charges for credit losses


1,682,439


588,794

Other Provisions Charges


135,866


278,514

Trading Financial Investment Revaluation Differences


353,590


(4,468)

Available for sale and held to maturity investments exchange revaluation differences


(96,638)


(38,176)

Available for sale and held to maturity investments exchange revaluation differences


7,236


-

Goodwill Amortization


21,701


-

Intangible Assets Amortization





Financial Investments Impairment Charge


140,751


65,736

Utilization of Other Provisions


(5,286)


(6,600)

Other Provisions No Longer Used


(505)


(456)

Exchange Differences of Other Provisions


13,330


(3,857)

Profits From Selling Property, Plant and Equipment


(564)


(2,106)

Profits From Selling Financial Investments


(163,270)


(82,907)

Profits From Selling Associates


(285,431)


-

Share Based Payments


133,395


99,857

Investments in Subsidiary and Associates Revaluation

-


52,479






Operating Profits Before Changes in Operating Assets and Liabilities


8,614,489


6,584,365






Net Decrease (Increase) in Assets and Liabilities





Due from banks


(13,346,529)


(2,130,064)

Treasury Bills and Other Governmental Notes


5,497,825


(4,897,448)

Trading Financial Assets


(2,474,396)


(1,476,755)

Derivative Financial Instruments


(20,247)


73,193

Loans and Advances to Banks and Customers


(9,495,679)


(8,016,328)

Other Assets


(1,042,543)


(845,028)

Goodwill


(217,078)


-

Intangible Assets


(651,041)


-

Due to Banks


469,384


(242,025)

Due to Customers


33,124,989


25,304,663

Income Tax Obligation Paid


(1,814,609)


(1,179,709)

Other Liabilities


80,304


1,095,918

Net Cash Provided from Operating Activities


18,724,869


14,270,782

 

 

 

 

 

 

 

 






COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b





As of December 31, 2015


Dec. 31, 2015


Dec. 31, 2014

Cash Flow From Investing Activities





Payment for purchase of subsidiary and associates


-


            (17,888)

Proceeds from selling subsidiary and associates


334,451


-

Payment for purchases of property, plant, equipment and branches constructions


(360,587)


(240,265)

Proceeds from redemption of held to maturity financial investments


3,919,074


-

Payment for purchases of held to maturity financial investments 


(4,019,548)


(4,973,572)

Payment for purchases of  available for sale financial investments


(25,392,460)


(9,080,132)

Proceeds from selling available for sale financial investments


5,301,726


4,937,801

Proceeds (payments) from real estate investments


884,094


(884,094)






Net Cash Used in Investing Activities


(19,333,250)


(10,258,150)






Cash Flow From Financing Activities





Increase (Decrease) in Long Term Loans


(111,550)


110,725

Dividend Paid


(1,563,646)


(1,253,338)

Capital Increase


94,748


79,299

Net Cash Used in Financing Activities


(1,580,448)


(1,063,314)






Net Increase (Decrease) in Cash and Cash Equivalent during the year


(2,188,829)


2,949,318

Beginning Balance of Cash and Cash Equivalent


14,811,360


11,862,042

Cash and Cash Equivalent At the End of the Year


12,622,531

 


14,811,360

 






Cash & Cash Equivalent Comprise:





Cash and Balances with Central Bank


9,848,954


7,502,256

Due From Banks


21,002,305


9,279,896

Treasury Bills and Other  Governmental Notes


22,130,170


30,539,402

Obligatory Reserve Balance With CBE


(8,268,202)


(5,392,596)

Due from Banks with Maturities More than Three Months


(15,478,335)


(5,007,412)

Treasury Bills with Maturity More than Three Months


(16,612,361)


(22,110,186)

Total Cash and Cash Equivalent


12,622,531


14,811,360

 

 

 

 

 

 

 

 

 

 

 

Dec. 31,

2014

Issued and Paid in Capital

Legal Reserve

General Reserve

 

Special Reserves

 

Reserve for A.F.S Investment

Revaluation Diff.

 

Banking Risk Reserve

 

 

Net Profit for the Year

Reserve for Employee Stock Ownership Plan (ESOP)

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 Year

-

-

-

-

-

-

3,647,530

-

3,647,530

Net unrealised gain/(loss) on AFS

-

-

-

-

127,231

-

-

-

127,231

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

99,857

99,857

Balance at the End of Year

9,081,734

621,084

1,850,648

28,108

(593,237)

1,991

3,647,530

177,766

14,815,624

 

 

 

SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED DECEMBER 31,  2015

 

 

Dec. 31,

2015

Issued and Paid in Capital

Legal Reserve

 

General Reserve

 

Special Reserves

 

Reserve for A.F.S Investment

Revaluation Diff.

Banking Risk Reserve

Net Profit for the Year

Reserve for Employee Stock Ownership Plan

Total

 

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

2,388,869

-

(2,294,121)

-

-

-

-

-

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 Year

-

-

-

-

-

-

4,640,718

-

4,640,718

Net unrealised gain/(loss) on AFS

-

-

-

-

(1,609,226)

-

-

-

(1,609,226)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

133,395

133,395

Balance at the End of Period

11,470,603

803,355

1,518,525

30,214

(2,202,463)

2,513

4,640,718

248,148

16,511,613

 

 

 

 

 

 


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