Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/7178O_-2016-2-10.pdf |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |