3rd Quarter Results

RNS Number : 8533S

Commercial Intnl Bank (Egypt) SAE

13 November 2013

 



Commercial International Bank (Egypt) S.A.E.
Unconsolidated Financial Statements
September 30,  2013
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of September 30, 2013
Amounts in EGP.	Note	Sep. 30, 2013		Dec. 31 ,2012
Assets
Cash and Due with Central Bank	15	3,956,053,666		5,393,974,124
Due From Banks	16	8,903,524,218		7,957,710,034
Treasury Bills and Other Governmental Notes	17	21,687,837,554		7,978,030,413
Trading Financial Assets	18	2,161,496,874		1,472,281,763
Loans and Advances to Banks	19	166,406,169		1,178,867,739
Loans and Advances to Customers	20	41,938,854,369		40,698,313,773
Derivative Financial Investments	21	85,311,981		137,459,761
Financial Investments
Available for Sale	22	22,022,898,007		21,161,884,032
Held to Maturity	22	4,191,614,571		4,205,753,328
Investments in Subsidiary and Associates	23	598,943,210		938,033,700
Investment Property	24	9,695,686		10,395,686
Other Assets	25	2,630,872,604		2,459,025,844
Deferred Tax	33	84,811,769		129,133,209
Property, Plant and Equipment	26	845,531,134		684,527,896
Total Assets		109,283,851,813		94,405,391,302
Liabilities and Equity
Liabilities
Due to Banks	27	632,092,420		1,714,862,716
Due to Customers	28	94,109,753,475		78,834,726,890
Derivative Financial Instruments	21	97,920,747		119,099,260
Other Liabilities	30	2,401,149,790		2,034,351,571
Long Term Loans	29	110,105,397		80,495,238
Other Provisions	31	377,092,365		310,648,113
Total Liabilities		97,728,114,194		83,094,183,788
Equity
Issued & Paid- in Capital	32	6,001,623,790		5,972,275,410
Reserves	32	3,526,197,908		2,970,458,093
Reserve for Employee Stock Ownership Plan (ESOP)		172,963,931		164,761,121
Retained Earnings		-		1,001,979
Total Equity		9,700,785,629		9,108,496,603
Net Profit of the Period/Year After Tax		1,854,951,990		2,202,710,911
Total Equity and Net Profit for the Period/Year		11,555,737,618		11,311,207,514
Total Liabilities and Equity		109,283,851,813		94,405,391,302
Contingent Liabilities and Commitments
Letters of Credit, Guarantees and other commitments	37	14,633,911,073		14,897,789,005
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME  STATEMENT
As of September 30, 2012
Amounts in EGP.	Note	Sep. 30, 2013		Sep. 30, 2012
Interest and Similar Income		6,959,203,206		5,699,585,573
Interest and Similar Expense		(3,274,451,642)		(2,878,216,663)
Net Interest Income	6	3684,751,564		2,821,368,910
Fee and Commissions Income		983,211,836		669,254,710
Fee and Commissions Expense		(93,749,393)		(76,264,667)
Net Income from Fees and Commissions	7	889,462,443		592,990,043
Dividend Income	8	19,626,451		22,050,296
Net Trading Income	9	571,096,681		412,179,479
Profit from Financial Investments	22	(347,554,290)		(29,588,934)
Administrative Expenses	10	(1,282,009,950)		(1,042,206,519)
Other Operating (Expenses) Income	11	(49,403,738)		(79,177,786)
Impairment Charge for Credit Losses	12	(565,928,409)		(406,580,325)
Net Profit before Tax		2,920,040,752		2,291,035,164
Income Tax Expense	13	(1,020,767,321)		(649,992,799)
Deferred Tax	33 & 13	(44,321,441)		17,508,518
Net Profit of the Period		1,854,951,990		1,658,550,883
Earnings per share	14
Basic		2.83		2.71
Diluted		2.78		2.67
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of September 30, 2013
Amounts in EGP.		Sep. 30, 2013		Sep. 30, 2012
Cash Flow From Operating Activities
Profit Before Income Tax		2,920,040,752		2,291,035,164
Adjustments To Reconcile Net Profit to Net Cash Provided by Operating Activities
Depreciation		153,470,557		125,184,264
Impairment Charges for credit losses		565,928,409		406,580,325
Other Provisions Charges		53,296,886		90,779,892
Trading Financial Investment Revaluation Differences		16,496,837		(108,405,059)
Available for sale and held to maturity investments exchange revaluation differences		(114,126,028)		(13,580,979)
Financial Investments Impairment Charge (Release)		(30,527,933)		7,746,294
Utilization of Other Provisions		(1,116,533)		(72,440,607)
Other Provisions No Longer Used		(141,520)		(531,054)
Exchange Differences of Other Provisions		14,405,419		1,106,792
Profits From Selling Property, Plant and Equipment		(747,854)		(3,801,360)
Profits From Selling Financial Investments		(2,375,234)		2,289,009
Exchange Difference of  Long Term Loans		-		42,050
Share Based Payments		71,885,037		66,036,546
Investments in Subsidiary and Associates Revaluation		346,617,790		-
Operating Profits Before Changes in Operating Assets and Liabilities		3,993,106,585		2,792,041,277
Net Decrease (Increase) in Assets and Liabilities
Due from banks		(966,216,128)		(233,475,365)
Treasury Bills & Other Governmental Notes		(8,063,793,255)		(43,416,593)
Trading Financial Assets		(705,711,948)		(1,103,602,052)
Derivative Financial Instruments		30,969,267		16,904,759
Loans and Advances to Banks and Customers		(794,007,435)		(471,183,299)
Other Assets		(52,174,771)		(920,965,971)
Due to Banks		(1,082,770,296)		(1,255,697,899)
Due to Customers		15,275,026,585		6,959,188,880
Other Liabilities		(653,969,102)		(82,730,698)
Net Cash Provided from Operating Activities		6,980,459,502		5,657,063,039
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of September 30, 2013		Sep. 30, 2013		Sep. 30, 2012
Cash Flow From Investing Activities
Purchase of Subsidiary and Associates		(7,527,300)		(30,857,087)
Purchases of Property, Plant and Equipment		(433,397,930)		(161,502,892)
Redemption of Held-to-Maturity Financial Investments		14,138,757		-
Purchases of Held to Maturity Financial Investments		-		(4,183,311,233)
Purchases of Available for  Sale Financial Investments		(4,969,114,267)		(9,819,261,071)
Proceeds from Selling Available for Sale Financial Investments		3,599,317,350		5,174,787,445
Proceeds from Selling Real Estate Investments		700,000		2,750,000
Net Cash Generated from (Used in) Investing  Activities		(1,795,883,390)		(9,017,394,838)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans		29,610,159		(36,951,273)
Dividend Paid		(1,055,843,165)		(806,206,521)
Capital Increase		29,348,380		37,712,420
Net Cash Generated from (Used in) Financing Activities		(996,884,626)		(805,445,374)
Net Increase (Decrease) in Cash and Cash Equivalent		4,187,691,486		(4,165,777,174)
Beginning Balance of Cash and Cash Equivalent		5,536,080,094		8,081,134,203
Cash and Cash Equivalent Balance At the End of the Period		9,723,771,580		3,915,357,029
Cash & Cash Equivalent Comprise
Cash and Balances with Central Bank		3,956,053,666		3,414,510,382
Due From Banks		8,903,524,218		8,753,946,065
Treasury Bills and Other  Governmental Notes		21,687,837,554		9,097,411,619
Obligatory Reserve Balance With CBE		(3,201,657,518)		(3,067,529,100)
Due from Banks (Time Deposits) More than Three Months		(5,495,114,823)		(5,418,197,859)
Treasury Bills with Maturity  More than Three Months		(16,126,871,517)		(8,864,784,078)
Total Cash & Cash Equivalent		9,723,771,580		3,915,357,029

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED SEPTEMBER 2012

Sep. 30, 2012	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (EGP)	Special Reserves (EGP)	Reserve for A.F.S Revaluation Diff. (EGP)	Banking Risk Reserve (EGP)	Net Profit of the Period (EGP)	Reserve for Employee Stock Ownership Plan (ESOP)	Total (EGP)
Beginning Balance	5,934,562,990	231,344,896	1,234,274,960	15,105,920	185,931,315	(723,070,818)	281,689,619	1,624,150,975	137,354,419	8,921,344,275
Capital Increase	37,712,420	-	-	-	-	-	-	-	-	37,712,420
Transferred to Reserves	-	87,306,567	794,689,187	-	2,716,747	-	-	(833,050,374)	(51,662,127)	-
Dividend Paid	-	-	-	(15,105,920)	-	-	-	(791,100,601)	-	(806,206,521)
Net Profit of the Period	-	-	-	-	-	-	-	1,658,550,883	-	1,658,550,883
Transfer from Special Reserve	-	61,697,292	8,143,225	1,001,979	(70,842,496)	-	-	-	-	-
Addition from Financial Investment Revaluation	-	-	-	-	-	981,313,278	-	-	-	981,313,278
Transferred to Bank Risk Reserve	-	-	-	-	-	-	(181,708,448)	181,708,448	-	-
Reserve for Employee Stock ownership plan ESOP	-	-	-	-	-	-	-	-	66,036,546	66,036,546
Balance at the End of Period	5,972,275,410	380,348,755	2,037,107,372	1,001,979	117,805,566	258,242,460	99,981,171	1,840,259,331	151,728,838	10,858,750,881

SEPARATE  STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD ENDED SEPTEMBER 2013

Sep. 30, 2013	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (EGP)	Special Reserves (EGP)	Reserve for A.F.S Revaluation Diff. (EGP)	Banking Risk Reserve (EGP)	Net Profit of the Period (EGP)	Reserve for Employee Stock Ownership Plan (ESOP)	Total (EGP)
Beginning Balance	5,972,275,410	380,348,755	2,037,107,372	1,001,979	117,805,566	153,506,781	103,716,932	2,380,683,598	164,761,121	11,311,207,515
Capital Increase	29,348,380	-	-	-	-	-	-	-	-	29,348,380
Transferred to Reserves	-	110,016,166	1,277,120,890	-	2,387,583	-	-	(1,325,842,412)	(63,682,227)	-
Dividend Paid	-	-	-	(1,001,979)	-	-	-	(1,054,841,186)	-	(1,055,843,165)
Net Profit of the Period	-	-	-	-	-	-	-	1,854,951,990	-	1,854,951,990
Transfer from Special Reserve	-	-	92,826,390	-	(92,826,390)	-	-	-	-	-
Addition from Financial Investment Revaluation	-	-	-	-	-	(655,812,137)	-	-	-	(655,812,137)
Transferred to Bank Risk Reserve	-	-	-	-	-	-	(65,664,066)	65,664,066	-	-
Reserve for Employee Stock ownership plan ESOP	-	-	-	-	-	-	-	-	71,885,037	71,885,037
Balance at the End of Period	6,001,623,790	490,364,921	3,407,054,652	-	27,366,759	(502,305,356)	38,052,866	1,920,616,055	172,963,931	11,555,737,618

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