|
Condensed Consolidated Interim Balance Sheet as at September 30, 2020
|
|
|
|
Notes
|
Sep. 30, 2020
|
|
Dec. 31, 2019
|
|
|
|
EGP Thousands
|
|
EGP Thousands
|
|
|
Assets
|
|
|
|
|
|
|
Cash and balances at the central bank
|
7
|
35,786,423
|
|
28,273,962
|
|
|
Due from banks
|
8
|
56,903,819
|
|
28,353,366
|
|
|
Loans and advances to banks, net
|
10
|
19,021
|
|
625,264
|
|
|
Loans and advances to customers, net
|
11
|
119,145,984
|
|
119,321,103
|
|
|
Derivative financial instruments
|
|
242,694
|
|
216,383
|
|
|
Investments
|
|
|
|
|
|
|
- Financial Assets at Fair value through P&L
|
12
|
344,219
|
|
418,781
|
|
|
- Financial Assets at Fair value through OCI
|
12
|
119,938,583
|
|
89,897,257
|
|
|
- Amortized cost
|
12
|
69,896,376
|
|
107,225,613
|
|
|
- Investments in associates
|
13
|
141,772
|
|
107,693
|
|
|
Other assets
|
|
9,398,676
|
|
9,748,143
|
|
|
Goodwill
|
0
|
223,328
|
|
-
|
|
|
Deferred tax assets (Liabilities)
|
|
413,720
|
|
350,339
|
|
|
Property, plant and equipment
|
14
|
2,265,502
|
|
2,204,464
|
|
|
Total assets
|
|
414,720,117
|
|
386,742,368
|
|
|
Liabilities and equity
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
Due to banks
|
15
|
8,820,095
|
|
11,810,607
|
|
|
Due to customers
|
16
|
332,326,819
|
|
304,448,455
|
|
|
Derivative financial instruments
|
|
305,164
|
|
282,588
|
|
|
Current tax liabilities
|
|
1,359,201
|
|
4,639,364
|
|
|
Other liabilities
|
|
6,656,244
|
|
8,396,794
|
|
|
Other loans
|
|
7,764,995
|
|
3,272,746
|
|
|
Provisions
|
17
|
2,960,720
|
|
2,011,369
|
|
|
Total liabilities
|
|
360,193,238
|
|
334,861,923
|
|
|
Equity
|
|
|
|
|
|
|
Issued and paid up capital
|
|
14,776,813
|
|
14,690,821
|
|
|
Reserves
|
|
30,496,156
|
|
24,344,815
|
|
|
Reserve for employee stock ownership plan (ESOP)
|
|
1,410,846
|
|
963,152
|
|
|
Retained earnings *
|
|
7,501,210
|
|
11,881,657
|
|
|
Total equity
|
|
54,185,025
|
|
51,880,445
|
|
|
Minority interest
|
|
341,854
|
|
-
|
|
|
Total minority interest, equity and net profit for the period/year
|
54,526,879
|
|
51,880,445
|
|
|
Total liabilities and equity
|
|
414,720,117
|
|
386,742,368
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of these financial statements .
|
|
|
|
|
|
|
(Review report attached)
|
|
|
|
|
|
*
|
Including net profit for the current period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hussein Abaza
|
Sherif Samy
|
|
|
CEO & Board member
|
|
Chairman
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Interim statement of other Comprehensive Income for the period ended September 30, 2020
|
|
|
|
|
Last 9 Months
|
|
Last 9 Months
|
|
|
|
|
|
|
|
Sep. 30, 2020
|
|
Sep. 30, 2019
|
|
|
|
|
|
|
|
EGP Thousands
|
|
EGP Thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit for the period
|
|
|
7,344,292
|
|
8,537,594
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in fair value of instruments measured at fair value through other comprehensive income
|
|
|
(2,292,039)
|
|
5,271,372
|
|
|
|
|
Transferred from reserve for financial assets at fair value through OCI
|
|
|
(76,717)
|
|
-
|
|
|
|
|
Cumulative foreign currencies translation differences
|
|
|
1,314
|
|
3,747
|
|
|
|
|
Expected credit loss for fair value of debt instruments measured at fair value through other comprehensive income
|
|
|
88,192
|
|
(71,846)
|
|
|
|
|
Total other comprehensive income for the period
|
|
|
5,065,042
|
|
13,740,867
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As follows:
|
|
|
|
|
|
|
|
|
|
Bank's shareholders
|
|
|
5,067,142
|
|
13,740,867
|
|
|
|
|
Minority interest
|
|
|
(2,100)
|
|
-
|
|
|
|
|
Total other comprehensive income for the period
|
|
|
5,065,042
|
|
13,740,867
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Interim Cash flows for the period ended September 30, 2020
|
|
|
|
|
|
|
|
|
Notes
|
Sep. 30, 2020
|
|
Sep. 30, 2019
|
|
|
|
EGP Thousands
|
|
EGP Thousands
|
|
|
|
|
|
|
|
Cash flow from operating activities
|
|
|
|
|
|
Profit before income tax from continued operations
|
|
11,239,451
|
|
11,773,726
|
|
Adjustments to reconcile net profit to net cash provided by operating activities
|
|
|
|
|
|
Fixed assets depreciation
|
14
|
558,536
|
|
425,637
|
|
Impairment charge for credit losses (Loans and advances to customers and banks)
|
|
3,761,456
|
|
1,256,000
|
|
Other provisions charges
|
17
|
974,522
|
|
12,494
|
|
Impairment charge for credit losses (due from banks)
|
|
13,218
|
|
23,161
|
|
Impairment charge for credit losses (financial investments)
|
|
88,192
|
|
(71,846)
|
|
Impairment charge for other assets
|
|
56,245
|
|
83,213
|
|
Exchange revaluation differences for financial assets at fair value through OCI
|
|
238,906
|
|
1,303,741
|
|
Goodwill amortization
|
22
|
20,302
|
|
-
|
|
Intangible assets amortization
|
|
-
|
|
97,656
|
|
Impairment charge financial assets at fair value through OCI
|
|
79,126
|
|
45,664
|
|
Utilization of other provisions
|
17
|
(1,479)
|
|
(27,733)
|
|
Other provisions no longer used
|
17
|
(6,022)
|
|
(96,499)
|
|
Exchange differences of other provisions
|
17
|
(17,670)
|
|
(103,531)
|
|
Profits from selling property, plant and equipment
|
|
(872)
|
|
(1,439)
|
|
(Profits) losses from selling financial investments
|
12
|
(979,144)
|
|
(310,329)
|
|
Released (Impairment) charges of investments in associates and subsidiaries
|
|
14,100
|
|
-
|
|
Shares based payments
|
|
447,694
|
|
371,997
|
|
Bank's share in the profits of associates
|
|
(24,327)
|
|
(291)
|
|
Operating profits before changes in operating assets and liabilities
|
|
16,462,234
|
|
14,781,621
|
|
|
|
|
|
|
|
Net decrease (increase) in assets and liabilities
|
|
|
|
|
|
Due from banks
|
|
(5,972,551)
|
|
(13,052,086)
|
|
Treasury bills and other governmental notes
|
|
(4,492,317)
|
|
4,974,205
|
|
Financial assets at fair value through P&L
|
12
|
74,562
|
|
2,252,280
|
|
Derivative financial instruments
|
|
(3,735)
|
|
(67,282)
|
|
Loans and advances to banks and customers
|
10 - 11
|
(2,977,814)
|
|
(4,796,325)
|
|
Other assets
|
|
592,680
|
|
247,459
|
|
Due to banks
|
15
|
(2,990,512)
|
|
(5,431,711)
|
|
Due to customers
|
16
|
27,878,364
|
|
22,548,279
|
|
Income tax obligations paid
|
|
(4,389,254)
|
|
(3,625,579)
|
|
Other liabilities
|
|
(4,589,999)
|
|
1,862,821
|
|
Net cash used in (generated from) operating activities
|
|
19,591,658
|
|
19,693,682
|
|
|
|
|
|
|
|
Cash flow from investing activities
|
|
|
|
|
|
Proceeds from Investments in associates.
|
|
750
|
|
-
|
|
Payment for purchases of property, plant, equipment and branches
constructions
|
|
(921,312)
|
|
(1,067,918)
|
|
Proceeds from selling property, plant and equipment
|
|
872
|
|
1,439
|
|
Proceeds from redemption of financial assets at amortized cost
|
|
37,493,345
|
|
33,937,957
|
|
Payment for purchases of financial assets at amortized cost
|
|
-
|
|
(47,344,534)
|
|
Payment for purchases of financial assets at fair value through OCI
|
|
(51,331,273)
|
|
(26,637,577)
|
|
Proceeds from selling financial assets at fair value through OCI
|
|
24,041,845
|
|
5,350,754
|
|
Proceeds from investment in subsidiaries.
|
|
194,722
|
|
-
|
|
Net cash generated from (used in) investing activities
|
|
9,478,949
|
|
(35,759,879)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow from financing activities
|
|
|
|
|
|
Increase (decrease) in long term loans
|
|
4,492,249
|
|
(321,235)
|
|
Dividend paid
|
|
(3,370,464)
|
|
(2,700,544)
|
|
Capital increase
|
|
85,992
|
|
-
|
|
Net cash generated from (used in) financing activities
|
|
1,207,777
|
|
(3,021,779)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalent during the period
|
|
30,278,384
|
|
(19,083,872)
|
|
Beginning balance of cash and cash equivalent
|
|
22,895,017
|
|
34,303,645
|
|
Cash and cash equivalent at the end of the period
|
|
53,173,401
|
|
15,219,773
|
|
|
|
|
|
|
|
Cash and cash equivalent comprise:
|
|
|
|
|
|
Cash and balances at the central bank
|
7
|
35,786,423
|
|
27,205,020
|
|
Due from banks
|
|
56,934,238
|
|
25,629,602
|
|
Treasury bills and other governmental notes
|
9
|
32,133,958
|
|
44,736,504
|
|
Obligatory reserve balance with CBE
|
7
|
(30,004,955)
|
|
(20,770,245)
|
|
Due from banks with maturities more than three months
|
|
(8,958,909)
|
|
(16,541,989)
|
|
Treasury bills with maturity more than three months
|
|
(32,717,354)
|
|
(45,039,119)
|
|
Total cash and cash equivalent
|
|
53,173,401
|
|
15,219,773
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Interim statement of changes in shareholders' equity for the period ended September 30, 2019
|
|
|
|
|
Sep. 30, 2019
|
Issued and paid up capital
|
Legal reserve
|
General reserve
|
General risk reserve
|
Capital reserve
|
Reserve for financial assets at fair value through OCI
|
Banking risks reserve
|
Retained earnings
|
Reserve for employee stock ownership plan
|
Cumulative foreign currencies translation differences
|
Total Shareholders Equity
|
Minority Interest
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EGP Thousands
|
|
|
|
Beginning balance
|
11,668,326
|
1,710,293
|
12,776,215
|
1,549,445
|
12,421
|
(1,860,851)
|
4,323
|
9,637,083
|
738,320
|
-
|
36,235,575
|
-
|
36,235,575
|
|
|
|
Capital increase
|
2,917,082
|
-
|
(2,917,082)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
|
|
Transferred to reserves
|
-
|
477,736
|
6,375,589
|
-
|
1,045
|
-
|
-
|
(6,854,370)
|
-
|
-
|
-
|
-
|
-
|
|
|
|
Dividend paid
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(2,700,544)
|
-
|
-
|
(2,700,544)
|
-
|
(2,700,544)
|
|
|
|
Net profit of the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
8,537,594
|
-
|
-
|
8,537,594
|
-
|
8,537,594
|
|
|
|
Net unrealised gain/(loss) on financial assets at fair value through OCI
|
-
|
-
|
-
|
-
|
-
|
5,271,372
|
-
|
-
|
-
|
-
|
5,271,372
|
-
|
5,271,372
|
|
|
|
Transferred (from) to bank risk reserve
|
-
|
-
|
-
|
-
|
-
|
-
|
841
|
(841)
|
-
|
-
|
-
|
-
|
-
|
|
|
|
ECL for impairment of debt instruments investments
|
-
|
-
|
-
|
-
|
-
|
(71,846)
|
-
|
-
|
-
|
-
|
(71,846)
|
-
|
(71,846)
|
|
|
|
Cost of employees stock ownership plan (ESOP)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
371,997
|
-
|
371,997
|
-
|
371,997
|
|
|
|
Cumulative foreign currencies translation differences
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
3,747
|
3,747
|
-
|
3,747
|
|
|
|
Balance at the end of the period
|
14,585,408
|
2,188,029
|
16,234,722
|
1,549,445
|
13,466
|
3,338,675
|
5,164
|
8,618,922
|
1,110,317
|
3,747
|
47,647,895
|
-
|
47,647,895
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
