1st Quarter Results
Commercial Intnl Bank (Egypt) SAE
27 April 2005
Commercial International Bank (Egypt) S.A.E.
Financial Statements
March 31, 2005
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of March 30, 2005
Amounts in L.E. Note 31-March-2005 31-Dec-2004
Assets
Cash & Due From Central Bank 4 2,803,409,733 2,970,806,011
Due From Banks 5 3,320,345,912 4,649,962,623
Treasury Bills 6 2,248,719,552 2,268,671,181
Reverse Repos 7 3,044,872,568 674,285,962
Trading Financial Investments 8 668,404,060 673,201,901
Available for Sale Financial
Investments 9 2,275,411,364 2,251,402,178
Loans & Overdrafts(Net of
Provision for Doubtful Debts) 10& 12,872,590,499 13,394,477,871
11
Held to maturity Financial
Investments 12 147,089,799 155,275,278
Financial Investments in
Subsidiary and associated
companies 13 83,842,237 82,400,000
Debit Balances and Other Assets 15 676,583,236 561,476,616
Fixed Assets (Net) 16 297,093,006 294,790,184
Total Assets 28,438,361,966 27976749805
Liabilities & Shareholders' Equity
Liabilities
Due to Banks 17 399,515,733 224,649,342
Repos 18 30,707,945 0
Customer Deposits 19 24,011,819,260 23,979,205,974
Dividends & Profit Sharing 227,500,000 285,661,900
Credit Balances & Other
Liabilities 20 597,202,300 455,148,244
Long Term Loans 21 93,278,410 121,042,257
Other Provisions 22 817,100,266 787,926,530
Total Liabilities 26,177,123,914 25,853,634,247
Shareholders' Equity
Issued & Paid- in Capital 1,300,000,000 1,300,000,000
Reserves 818,324,375 823,115,558
Total Shareholders' Equity 23 2,118,324,375 2,123,115,558
Net Profit of the Period 142,913,677 -
Total Shareholders' Equity & Net
Profit 2,261,238,052 2,123,115,558
Total Liabilities &
Shareholders' Equity 28,438,361,966 27,976,749,805
Contingent & commitments
Liabilities 24 4,656,748,791 4,848,267,166
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME STATEMENT
As of March 30, 2005
Amounts in L.E. Note 31-March-2005 31-Dec-2004
Interest Received from clients &
Banks 326,756,864 302,353,814
Interest Received from Treasury
Bills & Bonds 169,818,714 64,181,149
- Deduct
Interest Paid to Clients & Banks (286,742,788) (201,584,956)
Net Interest Income 209,832,790 164,950,007
Banking Fees & Commissions 73,344,997 86,502,699
Share Dividends 2,268,057 2,861,304
Foreign Exchange Income 25 59,627,619 15,368,266
Profit from Selling Investment 22,804,170 861,958
Trading Investment Revaluation
Differences (30,256,661) 5,229,131
Other Income 10,399,047 9,577,288
Total Fee Income 138,187,229 120,400,646
Net Operating Income 348,020,019 285,350,653
Provisions (81,000,000) (80,000,000)
Other Financial Investment
Evaluation Differences (16,628,472) (9,116,617)
General & Administration Expenses
& Depreciation (97,087,870) (74,197,531)
Other Expenses (10,390,000) (11,293,540)
(205,106,342) (174,607,688)
Net Operating Profits 142,913,677 110,742,965
Non-Operating income 0 39,390
Net Profit 142,913,677 110,782,355
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of March 30, 2005
Amounts in LE. 31-March-2005 30-March-2004
Cash Flow From Operating Activities
Net Income Before Tax 142,913,677 110,782,355
Adjustments To Reconcile Net Income
Total Net Cash Provided by
operating
Depreciation 13,753,837 10,366,624
Provisions (Additions during the
period) 81,000,000 80,000,000
Trading Financial Investment
Evaluation 30,256,661 (5,229,131)
Other Financial Investment
Evaluation 16,628,472 9,116,617
FCY revaluation Differences of
Provisions Balances except
doubtful debts (6,826,264) 512,556
Gains From Selling of Fixed
Assets 0 (39,390)
Profit From Selling of
Investments (22,804,170) (861,958)
Paid Income Tax 0 (470,888)
FCY Revaluation Difference of
Long Term Loans 0 (775,972)
Operating Profit Before Changes
in Operating Assets and
Liabilities 254,922,213 203,400,813
Net Decrease (Increase) in Assets
Due from banks 1,317,819,128 136,678,965
Treasury Bills (246,789,583) 270,591,576
Reverse Repos (2,370,586,606) 0
Trading Financial Investments (25,458,820) (174,141,441)
Available for Sale Financial
Investments (17,833,488) (84,483,066)
Loans & Overdrafts 476,887,372 (434,890,550)
Debit Balances & Other
Liabilities (97,494,110) (73,591,619)
Net Increase (Decrease) In
Liabilities
Due to Banks 174,866,391 101,822,373
Repos 30,707,945 0
Customer Deposits 32,613,286 743,379,556
Credit Balances & Other
Liabilities 142,054,056 45,526,537
Net Cash Provided from Operating
Activities (100,792,216) 734,293,144
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of March 30, 2005 31-March-2005 30-March-2004
Cash Flow From Investment
Activities
Purchase of Subsidiaries (1,442,237) (7,240,000)
Prepaid for Fixed Assets,
premises and Fitting-out of
Branches (33,669,169) (14,547,729)
Purchase of Held-to-Maturity
Investments 8,185,479 (2,119,740)
Net Cash (Used in) Investment
Activities (26,925,927) (23,907,469)
Cash Flow From Financing Activities
Decrease in Long Term Loans (27,763,847) (156,097,296)
Dividends Paid (58,161,900) (242,446,824)
Reverse for financial investment
revaluation Diff (4,791,183) 0
Net Cash (Used in) provided from
Financing Activities (318,216,930) (398,544,120)
Net cash & cash equivalent (445,935,073) 311,841,555
Beginning Balance of cash and
cash equivalent 3,325,602,325 3,077,271,444
Cash & Cash equivalent Balance At
the End of the period 2,879,667,252 3,389,112,999
Cash & Cash Equivalent are
Represented as Follows
Cash and Due from Central Bank 2,803,409,733 2,805,756,901
Due From Banks 3,320,345,912 3,703,586,911
Treasury Bills 2,248,719,552 1,278,716,842
Due from Banks (Time Deposits) (3,244,088,393) (3,520,751,175)
Treasury Bills with Maturity
More than Three Months (2,248,719,552) (878,196,480)
Total Cash& Cash Equivalent 2,879,667,252 3,389,112,999
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY
As of March 30, 2005
2004 Capital Legal General Special Reserves for Profits of the Total
Reserves Reserves Reserves Inv. year
Revaluation
Beginning 1,300,000,000 275,334,002 149,505,205 162,709,903 20,618,560 0 1,908,167,670
Balance
Transfer to 0 25,287,783 194,805,967 0 0 (220,093,750) 0
Reserves
Distributed 0 0 0 0 0 (285,661,900) (285,661,900)
Profits
Net Profit 0 0 0 0 0 505,755,650 505,755,650
Reverse part 0 0 0 0 (5,145,862) 0 (5,145,862)
reserve
Ending 1,300,000,000 300,621,785 344,311,172 162,709,903 15,472,698 2,123,115,558
Balance
2005 Capital Legal General Special Reserves for Inv. Profits of the Total
Reserves Reserves Reserves Revaluation year
Beginning Balance 1,300,000,000 300,621,785 344,311,172 162,709,903 15,472,698 0 2,123,115,558
Net Profit for the 0 0 0 0 0 142,913,677 142,913,677
Period
Reverse part of 0 0 0 0 (4,791,183) 0 (4,791,183)
reserve
Ending Balance 1,300,000,000 300,621,785 344,311,172 162,709,903 10,681,515 142,913,677 2,261,238,052
4- Cash And Due From Central Bank
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- Cash & Cash Items 563,258,062 408,463,148
- Reserve Balance with CBE 2,240,151,671 2,562,342,863
Total Cash & Due From Central Bank 2,803,409,733 2,970,806,011
5- Due from Banks Mar. 31, 2005 Dec. 31, 2004
L.E L.E
(A) Central Bank 58,530,510 232,463,340
- Time Deposits
Total Due from central bank 58,530,510 232,463,340
(B) Local Banks 7,844,437 5,245,686
- Current Accounts 186,865,700 488,549,000
- Time Deposits
Total Due from Local Banks 194,710,137 493,794,686
( C ) Foreign Banks 68,413,082 82,809,416
- Current Accounts 2,998,692,183 3,840,895,181
- Time Deposits
Total Due From Foreign Banks 3,067,105,265 3,923,704,597
Total Due From Banks 3,320,345,912 4,649,962,623
6- Treasury Bills
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- 91 Days Maturity - 270,800,000
- 182 Days Maturity 861,075,000 1,416,725,000
- 364 Days Maturity 1,488,200,000 666,225,000
Total Treasury Bills 2,349,275,000 2,353,750,000
- Issuance Discount (100,555,448) (85,078,819)
Net Treasury Bills 2,248,719,552 2,268,671,181
Mar. 31, 2005 Dec. 31, 2004
7- Reverse Repos L.E L.E
- Maturity within one week
1,228,742,479 258,017,644
- Maturity within three months
1,372,610,864 196,353,962
- Maturity within six months
443,519,225 174,173,808
- Maturity within one year - 45,740,548
3,044,872,568 674,285,962
8- Trading Financial Investments
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- Portfolio Managed By other parties 490,812,266 453,931,288
- Bonds 148,390,194 202,052,927
- Shares 29,201,600 17,217,686
Total Trading Financial Investments 668,404,060 673,201,901
The Financial Trading Investments are represented as follows :-
- Financial Investments Quoted on Stock Exchange 668,404,060 673,201,901
- Financial Investments Un-quoted on Stock Exchange 0 0
668,404,060 673,201,901
9 - Available for sale financial investments Mar. 31, 2005 Dec. 31, 2004
L.E L.E
(A) Shares
- Bank's Shares 9,076,909 9,076,909
- Corporate Shares 637,761,890 573,722,193
(B)Bonds
- Governmental Bonds 809,835,405 698,204,996
- Bank's Bonds 114,958,153 114,958,153
- Corporate Bonds 703,779,007 855,439,927
2,275,411,364 2,251,402,178
Available for sale financial investments
are represented as follows :-
- Financial Investments Quoted on Stock Exchange 1,870,198,442 1,902,849,069
- Financial Investments Un-quoted on Stock Exchange 405,212,922 348,553,109
2,275,411,364 2,251,402,178
- The market Value of Available for sale Investments listed on the Capital market is L.E 1,935,488,229 as
of 31 March 2005 compared to LE. 1,971,258,092 as of December 31, 2004
10 - Loans and Overdrafts
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- Discounted Bills 221,330,331 175,368,806
- Loans & Overdrafts to Customer 13,114,971,075 13,641,966,481
- Loans & Overdraft to Banks 650,220,410 638,829,924
13,986,521,816 14,456,165,211
- Unearned Bills discount (4,519,305) (4,102,723)
- Provision For Doubtful Debts (946,862,132) (911,915,247)
- Unearned Interest & commission (162,549,880) (145,669,370)
Net Loans & Overdrafts 12,872,590,499 13,394,477,871
11 - Provision For Doubtful Debts
Mar. 31, 2005
Specific General Total
LE LE LE
- Balance at beginning of the period 551,469,932 360,445,315 911,915,247
- Addition during the period 45,000,000 0 45,000,000
- written off debts recoveries 5,337,559 0 5,337,559
- Foreign currency revaluation diff. (15,387,207) 0 (15,387,207)
586,420,284 360,445,315 946,865,599
Usage during the period (3,467) (3,467)
Transferred from general to specific 51,541,000 (51,541,000) 0
Balance at the end of the period 637,957,817 308,904,315 946,862,132
Dec. 31, 2004
Specific General Total
LE LE LE
- Balance at beginning of the year 333,106,251 385,617,453 718,723,704
- Addition during the year 224,424,862 0 224,424,862
- written off debts recoveries 14,364,457 0 14,364,457
- Foreign currency revaluation diff. (2,606,103) 0 (2,606,103)
569,289,467 385,617,453 954,906,920
Usage during the Year (42,991,673) 0 (42,991,673)
Transferred from general to specific 25,172,138 (25,172,138) 0
Balance at the end of the Year 551,469,932 360,445,315 911,915,247
12 - Held to maturity Investments
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- Housing Bonds (maturity Dec.2019) 215,000 215,000
- Treasury Bonds 146,874,799 155,060,278
147,089,799 155,275,278
The held to maturity Financial Investments are represented as follows :-
- Investments Quoted on Stock Exchange 146,874,799 155,060,278
- Investments Un-quoted on Stock Exchange 215,000 215,000
147,089,799 155,275,278
The market value of Held to Maturity Financial Investment is LE 150,745,039 as of 31 Mar. 2005
13 - Financial Investments in subsidiary companies
Mar. 31, 2005 Dec. 31, 2004
LE % LE %
- Commercial International Brokerage co. 12,000,000 %40 12,000,000 %40
- Contact for Cars Trading 31,000,000 %40 31,000,000 %40
- Commercial International life insurance co. 32,000,000 %40 32,000,000 %40
- C I Assets Management 2,942,237 %94 1,500,000 %30
- Corplease co. 5,400,000 %40 5,400,000 %40
- Concept co. 500,000 %40 500,000 %40
83,842,237 82,400,000
The Financial Investments in subsidiary companies are represented as follows :-
- Financial Investments Quoted on Stock Exchange 12,000,000 12,000,000
- Financial Investments Un-quoted on Stock Exchange 71,842,237 70,400,000
83,842,237 82,400,000
- The market value of the financial investments in subsidiary companies quoted on the stock exchange is
LE 12,000,000 as of 31 Mar. 2005 And 12,000,000 as of 31 Dec 2004
14 -Capital Commitments (Financial Investments)
The capital commitments for the financial investments reached in date of Financial position L.E 95,933,632
Gross Investment Paid Remaining
L.E L.E L.E
Available for sale Financial investments 137,620,548 57,886,916 79,733,632
Financial Investments in subsidiaries co. 21,600,000 5,400,000 16,200,000
15 -Debit Balances and Other Assets
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
Accrued Interest receivable 245,298,840 191,085,751
Prepaid Expenses 15,033,632 15,050,977
Advances for Purchase of Fixed Assets 101,000,369 83,387,859
Assets Acquired for Settlement of Debts 131,866,299 131,866,299
Accounts receivable & Other Assets 183,384,096 140,085,730
Total Debit Balances and Other Assets 676,583,236 561,476,616
16 - Fixed Assets (Net of Accumulated Depreciation) Machines Furniture
Fitting & &
Land Premises E.D.P Vehicles -Out Equipment Furnishing total
L.E L.E L.E L.E L.E L.E L.E L.E
Opening Balance 5,997,577 206,110,743 184,821,851 17,961,009 54,852,572 75,394,388 30,786,808 575,924,948
(3)
Additional
during the period - - 9,298,812 554,068 1,990,595 2,941,202 1,271,982 16,056,659
Closing Balance 5,997,577 206,110,743 194,120,663 18,515,077 56,843,167 78,335,590 32,058,790 591,981,607
(1)
Accu.Depreciation
at
beginning of the
period (4) - 57,727,253 108,251,912 12,076,775 44,391,926 43,979,065 14,707,833 281,134,764
Current period
Depreciation - 2,476,559 6,979,398 475,611 1,364,974 1,758,626 698,669 13,753,837
Accu.Depreciation
at
end of the
period (2) 60,203,812 115,231,310 12,552,386 45,756,900 45,737,691 15,406,502 294,888,601
End of period 5,997,577 145,906,931 78,889,353 5,962,691 11,086,267 32,597,899 16,652,288 297,093,006
net asstes(1-2)
Beginning of 5,997,577 148,383,490 76,569,939 5,884,234 10,460,646 31,415,323 16,078,975 294,790,184
period net assets
(3-4)
Depreciation rate 5% 20% 20% 33.3% 12.5% 10%
- Net fixed assets in financial position date includes LE. 32,618,787
represents fixed assets not registered yet and registrations procedures in
process
17 - Due to Banks
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
(a) Central Bank
- Current Accounts 2,299,485 1,753,231
- Time Deposits 46,478,068 0
Total Due to Central Bank 48,777,553 1,753,231
( b )Local Banks
- Current Accounts 22,821,403 20,961,988
- Time Deposits 25,289,755 920,848
- Total Due to Local Banks 48,111,158 21,882,836
( c )Foreign Banks
- Current Accounts 302,627,022 201,013,275
- Time Deposits 0 0
- Total Due to foreign Banks 302,627,022 201,013,275
Total Due to Banks 399,515,733 224,649,342
18 - Repos
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- Maturity within one week 0 0
- Maturity within one month 14,813,794 0
- Maturity within three months 15,894,151 0
30,707,945 0
19 -Customers' Deposits
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- Demand Deposits 5,888,091,672 6,210,737,358
- Time & Notice Deposits 6,870,894,019 6,964,795,904
- Saving & Deposits Certificates 5,512,931,269 5,277,089,511
- Saving Deposits 4,623,472,131 4,391,838,621
- Other Deposits 1,116,430,169 1,134,744,580
Total Customer Deposits 24,011,819,260 23,979,205,974
20 - Credit Balances and Other Liabilities
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- Accrued
Interest Payable 85,927,630 86,518,203
- Accrued
Expenses 61,689,145 46,265,669
- Accounts
Payable 609,777,232 305,154,704
- Other
Liabilities 67,308,293 17,209,668
Total Credit
Balances
And Other 597,202,300 455,148,244
Liabilities
21 -Long Term Loans
Rate Maturity date Maturing
through Balance on Balance on
% next year Mar. 31, 2005 Dec. 31, 2004
European - - - - 33,230,664
Investment Bank
KFW Bank 10.5 - 9 ten years 17,263,526 18,873,292
Ministry of 3.5 - 5.5 depends 3,326,081 9,998,139 11,537,188
Agriculture 3-5 years on
(F.S.D.P) maturity date
Ministry of 3.5 - 5.5 depends 3-5 years 264,240 273,380 246,350
Agriculture on maturity date
(V.S.P)
Ministry of 3.5 - 5.5 depends 3-5 years 18,048,964 53,228,865 43,357,763
Agriculture on maturity date
(M.S.S.P)
Barclays bank 6.62 ten years 2,082,500 2,514,500 3,797,000
(P.S.F.S) from 1996
Social Fund 3 months T/D 2010 0 10,000,000 10,000,000
or 9% which more
Total 23,721,785 93,278,410 121,042,257
22 - Other Provisions Mar. 31, 2005
L.E
Opening Addition FCY Balance Usage Transfer Closing
Balance During the Reval. Difference During the Balance
period period
- Provision for 506,791,890 36,000,000 542,791,890
Income Tax claims
- Provision for 2,111,720 63,577- 2,048,143
Legal Claims
- Provision for 99,584,497 3,381,755- 96,202,742
contingent
- Provision for 154,043,142 2,106,048- 151,937,094
General risk *
- Provision for Bank 25,395,281 1,274,884- 24,120,397
Risk insurance
Total Other 787,926,530 36,000,000 6,826,264- 0 0 817,100,266
Provisions
Dec. 31, 2004
L.E
Opening Addition FCY Balance Usage Closing
Balance During the Reval. Difference During the Transfer Balance
Year Year
- Provision for 474,262,778 50,000,000 17,470,888- 506,791,890
Income Tax claims
- Provision for 1,883,088 314,391 7,004- 78,755- 2,111,720
Legal Claims
- Provision for 68,147,300 32,221,000 783,803- 99,584,497
contingent
- Provision for 151,066,860 15,698,178 344,592- 12,377,304- 154,043,142
General risk *
- Provision for Bank 13,316,953 298,976- 12,377,304 25,395,281
Risk insurance
Total Other 708,676,979 98,233,569 1,434,375- 17,549,643- 0 787,926,530
Provisions
* Operational risk and Market risk which reach 107,406 M and 17,837 M on
31/3/2005 are a part of General risk provision cover according to
'Basel II' requirements against 107,406M and 16,856M consequently on
31/12/2004
23 - Capital & Reserves
(a) Capital
- The Authorized Capital reached LE 1500 Million
- paid - in capital reached to LE 1300 million divided to 130
million shares with par value LE 10 per each .
(b) Reserves
- According to the bank statues 5% of net profit is to increase
legal reserve until reaches 50% of the bank's issued and paid -
in capital
- Concurrence of Central Bank of Egypt for usage of Special Reserve
is required.
24 - Contingent Accounts
Mar. 31, 2005 Dec. 31, 2004
L.E L.E
- Letters of Guarantee 3,866,417,597 4,077,122,707
- Letters of Credit ( import & export ) 588,267,067 518,658,339
- Customers Acceptances 365,524,676 370,222,289
- Forward Foreign Exchange contracts 491,814 933,107
- Swap Deals (163,952,363) (118,669,276)
Total 4,656,748,791 4,848,267,166
25 - Foreign Exchange Profits (losses)
Mar. 31, 2005 Mar. 31, 2004
L.E L.E
profit from dealing with foreign currencies 27,712,053 16,808,775
Profit of revaluation of Monitoring
assets and Liabilities 32,006,130 67,581
Forward deals revaluation losses (371,991) (1,869,038)
profit revaluation of options 281,427 360,948
59,627,619 15,368,266
26 - Other Financial investments evaluation differences
Mar. 31, 2005 Mar. 31, 2004
L.E L.E
+( - ) +( - )
- Available for sale Financial investments (16,628,472) (9,116,617)
- Held to maturity Financial Investments - -
- Investments in subsidiary and associated companies - -
(16,628,472) (9,116,617)
27 - Assets & Liabilities Maturities
Maturity Maturity
Within one year Over One Year
Assets
- Cash and Due from Central Bank 2,803,409,733 -
- Due from Banks 3,320,345,912 -
- Treasury Bills 2,349,275,000 -
- Reverse repos 3,044,872,568 -
- Trading Investments 668,404,060 -
- Available for sale investments 2,275,411,364 -
- Customers' Loans & Overdrafts 5,701,466,284 7,472,285,242
- Banks' Loans & Overdrafts 15,528 650,204,882
- Held to maturity Investments - 147,089,799
- Investments in subsidiary companies - 83,842,237
- Debit Balances and Other Assets 676,583,236 -
20,839,783,685 8,353,422,160
Liabilities
- Due to Banks 399,515,733 -
- Repos 30,707,945
- Customer Deposits 18,491,021,809 5,520,797,451
- Long Term Loans 23,721,785 69,556,625
- Credit Balances and Other Liabilities 597,202,3000 -
19,769,669,572 5,590,354,076
28 - Interest Rate
The average interest rates applied for Assets and Liabilities during the
period are 6.60 % & 3.76 % Respectively.
29 - Tax Status
- The bank's corporate income tax position has been examined and settled
with the Tax Authority from the start up of operations up to the end
of year 1984.
- Corporate income tax for the years from 1985 up to 1993 were paid
according to the Tax appeal Committee decision and the final
settlement is under discussion in the court of law .
- The bank's corporate income tax position has been examined and settled
with the Tax Authority from 1994 up to 2002 and the final settlement
is under discussion in the court of law .
- The bank pay salary tax according to concerning domestic regulations
and laws, and the final settlement is under discussion in the court
of law .
- The bank pay stamp duty tax according to concerning domestic
regulations and laws, and the final settlement is under discussion in
the court of law .
30 - Distribution of Assets, Liabilities and Contingent Accounts Assets
Local Currency Foreign Currency
1 - Due From Banks 172,091,843 3,148,254,069
2 - Loans & Overdrafts
%
Agriculture Sector 97,318,980 0.70
Industrial Sector 6,842,236,263 48.90
Trading Sector 813,860,061 5.80
Services Sector 4,749,870,768 34.00
Household Sector 1,258,555,422 9.00
Other Sectors 224,680,322 1.60
Total Loans & Overdrafts
(Including unearned interest) 13,986,521,816 100.00
Unearned Discounted Bills (4,519,305)
Provision for Doubtful Debts (946,862,132) 6.77
Unearned Interest & Commission (162,549,880)
Net Loans & Overdrafts 12,872,590,499
Liabilities
Local Currency Foreign Currency
1- Due to Banks 51,524,850 347,990,883
2 - Customers' Deposits %
Agriculture Sector 14,457,784 0.10
Industrial Sector 2,551,822,884 10.60
Trading Sector 741,070,402 3.10
Services Sector 3,747,549,952 15.60
Household Sector 15,465,373,891 64.40
Other Sector 1,491,544,347 6.20
Total Customers' Deposits 24,011,819,260 100.00
Contingent Accounts
Local Currency Foreign Currency
- Letters of Guarantee 1,320,115,307 2,546,302,290
- Letter of Credit ( import & export ) 13,811,427 574,455,640
- Customers Acceptances 209,191,180 156,333,496
- Forward Foreign Exchange Contracts 16,165,598 (15,673,784)
- Swap Deals (1,143,106,478) 979,154,115
416,177,034 4,240,571,757
31- Foreign Currencies Positions
Mar. 31, 2005 Dec. 31, 2004
in thousand L.E in thousand L.E
- Egyptian Pound 31,258 (16,400)
- US Dollar (39,804) 15,849
- Sterling pound 192 (1,984)
- Japanese Yen (80) 25
- Swiss Franc 715 191
- Euro 4,140 2,838
32- Transactions With Related Parties
All Banking transactions with related parties are conducted in accordance
with the normal banking practices and regulations applied to all other
customers without any discrimination.
Due from Banks 173,639,156
Loans & Overdrafts 261,022,527
Bank's Loans 122,028,000
Investment in subsidiary companies 83,842,237
Due to banks 9,054,076
Customer Deposits 115,988,233
Contingent Accounts 10,378,715
33- Comparative Figures
The Comparative Figures are amended to confirm with the reclassification of
the current period and General Assembly hold in Mar, 2005 decisions, For
ratifying the Appropriation account of year 2004.
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