CIB Stand Alone Results Year

RNS Number : 3188H

Commercial Intnl Bank (Egypt) SAE

17 February 2010



Commercial International Bank (Egypt) S.A.E.
Financial Statements
December 31, 2009


COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of December 31, 2009
Amounts in L.E.	Note	Dec. 31, 2009	Dec. 31,2008
Assets

Cash & Due From Central Bank	5	4,179,212,739	4,473,011,942
Due From Banks	6	7,785,042,557	6,411,397,744
Treasury Bills & Other Governmental Notes	7	13,191,665,954	12,449,007,406
Trading Financial Assets	8	380,620,682	497,554,487
Net Loans & Overdrafts	11&12	27,303,684,185	26,330,327,878
Financial Derivatives	13	225,347,220	704,890,792
Financial Investments
Available for Sale	9	7,420,529,606	2,762,232,984
Held to Maturity	9	579,926,673	681,263,274
Financial Investments in Subsidiary and associated companies	14	1,138,277,487	1,138,332,627
Debit Balances and Other Assets	16	960,489,245	942,621,482
Deferred Tax	28	39,799,318	21,840,568
Fixed Assets (Net)	17	718,847,964	715,251,587
Total Assets		63,923,443,630	57,127,732,816

Liabilities & Shareholders' Equity
Liabilities

Due to Banks	18	458,145,229	213,470,012
Customer Deposits	19	54,842,629,843	48,938,109,663
Financial Derivatives	13	150,526,830	636,914,744
Credit Balances & Other Liabilities	20	1,106,662,383	1,235,780,102
Long Term Loans	21	93,237,042	109,273,933
Other Provisions	22	373,832,092	363,218,186

Total Liabilities		57,025,033,419	51,496,766,640

Shareholders' Equity
Issued & Paid- in Capital	23	2,925,000,000	2,925,000,000
Reserves	23	2,056,667,203	1,006,080,499
Reserve for employee stock ownership plan (ESOP)		161,728,984	86,727,903
Retained Earning		(1,942,684)	(1,942,684)
Total Shareholders' Equity		5,141,453,503	4,015,865,718
Net Profit of the Year		1,756,956,708	1,615,100,458
Total Shareholders' Equity & Net Profit		6,898,410,211	5,630,966,176
Total Liabilities & Shareholders' Equity		63,923,443,630	57,127,732,816
Contingent & commitments Liabilities	24	12,637,872,568	13,290,994,705
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME STATEMENT
For Year Ended December 31, 2009


Amounts in LE.	Note	Dec. 31, 2009	Dec. 31, 2008

Interest and similar income	25	4,026,337,183	3,631,009,316
Interest and similar expenses	25	(2,000,868,482)	(1,988,581,582)

Net Interest Income		2,025,468,701	1,642,427,734

Fees and Commissions income		704,436,353	687,404,799
Fees and Commissions Expense		(67,147,458)	(53,330,476)

Net Income from Fees and Commissions		637,288,895	634,074,323

Dividends Income		126,062,373	139,603,428
Net Trading Income	26	404,153,055	514,178,749
Provisions	12&22	(96,243,322)	(394,144,903)
Profit (losses) from Financial Investments	9	65,751,144	107,630,232
Administrative Expenses		(1,040,787,351)	(950,081,643)
Other Operating Income (Expenses)	10	(36,084,926)	162,201,251
Net Profit before Tax		2,085,608,569	1,855,889,171
Income Tax	29	(346,610,611)	(209,809,806)
Deferred Tax	28&29	17,958,750	(30,978,907)
Net Profit After Tax		1,756,956,708	1,615,100,458
Earning per share
Basic	30	5.32	4.89
Diluted	30	5.20	4.84


COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
For Year Ended Dec. 31, 2009
Amounts in LE.		Dec. 31, 2009	Dec. 31, 2008
Cash Flow From Operating Activities
Net Income Before Tax		2,085,608,569	1,855,889,171
Adjustments To Reconcile Net Income
Total Net Cash Provided by operating
Depreciation		184,283,445	153,818,325
Provisions (Additions during the period)		96,760,400	394,545,539
Trading Financial Investment Evaluation Diff.		(11,988,038)	87,784,923
Impairment of Assets		22,423,516	54,837,345
Utilization of Provision (Other than Provision for Doubtful Debts)		(5,934,246)	(10,943,385)
Provisions No Longer Used		(517,078)	(165,365,215)
Difference in revaluation of FCY Provision Balances (Except Doubtful Debts)		(724,579)	516,745
Gains From Selling of Fixed Assets		(15,797,710)	(5,052,568)
Profit From Selling of Investments		(113,051,948)	(219,181,954)
Profits from Dispose part of a Subsidiary		-	(50,258,991)
FCY Revaluation Difference of Long Term Loans		310,424	(922,993)
Share based payments		75,001,081	57,568,319
Operating Profit Before Changes in Operating Assets and Liabilities		2,316,373,836	2,153,235,261

Net Decrease (Increase) in Assets
Due from banks		(1,792,506,063)	9,567,610,757
Treasury Bills & Other Governmental Notes		1,410,297,463	(7,353,852,038)
Trading Financial Assets		128,921,844	3,133,860
Financial Derivatives (Net)		(6,844,342)	(55,834,978)
Loans & Overdrafts		(1,047,276,956)	(6,220,116,065)


Net Increase (Decrease) In Liabilities
Debit Balances & Other Assets		(64,378,784)	(13,465,835)
Due to Banks		244,675,217	(2,163,612,423)
Customer Deposits		5,904,520,180	9,423,569,671
Credit Balances & Other Liabilities		(475,728,331)	263,170,719
Net Cash Provided from Operating Activities		6,618,054,065	5,603,838,929


COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
For Year Ended Dec.31,2009		Dec. 31, 2009	Dec. 31, 2008
Cash Flow From Investment Activities
Sale (Purchase) of Subsidiaries & Associated Companies		(86,222,017)	(772,608,736)
Purchase of Fixed Assets, premises and Fitting-out of Branches		(130,621,033)	(142,698,585)
Redemption of Held-to-Maturity Investments		100,347,555	276,189,303
Held to Maturity Financial Investment (Purchases)		989,046	(513,558,411)
Available for Sale Financial Investments (Purchases) Sell		(4,567,668,190)	(200,041,718)
Net Cash (Used in) Investment Activities		(4,683,174,638)	(1,352,718,147)

Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans		(16,347,315)	(51,159,293)
Dividends Paid		(478,236,553)	(336,727,470)

Net Cash (Used in) provided from Financing Activities		(494,583,868)	(387,886,763)

Net cash & cash equivalent Changes		1,440,295,558	3,863,234,019
Beginning Balance of cash and cash equivalent		8,622,040,072	6,779,152,548
Cash & Cash equivalent Balance At the End of the Year		10,062,335,630	10,642,386,567

Cash & Cash Equivalent are Represented as Follows
Cash and Due from Central Bank		4,179,212,740	6,493,358,437
Due From Banks		7,785,042,557	4,391,051,249
Treasury Bills & Other Governmental Notes		13,191,665,954	12,449,007,406
Due From Banks (Time Deposits)		(7,509,460,335)	(3,696,607,777)
Treasury Bills with Maturity More than Three Months		(7,584,125,285)	(8,994,422,748)
Total Cash & Cash Equivalent		10,062,335,631	10,642,386,567

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY
As of December 31, 2009

2008	Capital	Legal Reserves	General Reserves	Retained Earning*	Special Reserves	Reserves for Inv. Rev.*	Profits of the year	Reserve for ESOP	Total
Beginning Balance	1,950,000,000	432,851,511	1,382,547,602	11,628,342	185,993,785	60,903,531	-	29,159,584	4,053,084,355
Derivatives Revaluations Settlement*	-	-	-	(13,571,026)	-	-	-	-	(13,571,026)
Capital Increase*	975,000,000	-	(975,000,000)	-	-	-	-	-	-
Net Profits of the Year	-	-	-	-	-	-	1,615,100,458	-	1,615,100,458
Usage Part of Reserve	-	-	-	-	-	(81,215,930)	-	-	(81,215,930)
Reserve for Employee Stock Ownership plan (ESOP)**	-	-	-	-	-	-	-	57,568,319	57,568,319
Ending Balance	2,925,000,000	432,851,511	407,547,602	(1,942,684)	185,993,785	(20,312,399)	1,615,100,458	86,727,903	5,630,966,176

2009	Capital	Legal Reserves	General Reserves	Retained Earning*	Special Reserves	Reserves for Inv. Rev.	Profits of the year	Reserve for ESOP	Total
Beginning Balance	2,925,000,000	432,851,511	407,547,602	(1,942,684)	185,993,785	(20,312,399)	1,615,100,458	86,727,903	5,630,966,176
Transfer to Reserves	-	80,755,023	1,056,108,882	-	-	-	(1,136,863,905)	-	-
Dividends Paid	-	-	-	-	-	-	(478,236,553)	-	(478,236,553)
Net Profits of The Year	-	-	-	-	-	-	1,756,956,708	-	1,756,956,708
Addition from financial Investment Revaluation	-	-	-		-	(86,277,201)	-	-	(86,277,201)
Reserve for ESOP	-	-	-		-	-	-	75,001,081	75,001,081
Ending Balance	2,925,000,000	513,606,534	1,463,656,484	(1,942,684,)	185,993,785	(106,589,600)	1,756,956,708	161,728,984	6,898,410,211