End of 2004 results
Commercial Intnl Bank (Egypt) SAE
14 February 2005
Commercial International Bank (Egypt) S.A.E.
Financial Statements
December, 31 2004
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of December 31, 2004
Amounts in L.E. Note 31-Dec-2004 31-Dec-2003
Assets
Cash & Due From Central Bank 4 2,970,806,011 2,674,292,801
Due From Banks 5 4,649,962,623 3,782,015,348
Treasury Bills 6 2,268,671,181 1,427,181,491
Reverse Repos 7 674,285,962
Trading Investments 8 673,201,901 476,223,229
Available for Sale Investments 9 2,251,402,178 1,638,846,363
Loans & Overdrafts(Net of Provision for
Doubtful Debts) 10& 11 13,394,477,871 12,505,238,953
Held to maturity Investments 12 155,275,278 933,562,940
Investments in Subsidiary and associated
companies 13 82,400,000 65,660,000
Debit Balances and Other Assets 15 561,476,616 418,384,985
Fixed Assets (Net) 16 294,790,184 232,046,863
Total Assets 27,976,749,805 24,153,452,973
Liabilities & Shareholders' Equity
Liabilities
Due to Banks 17 224,649,342 163,305,925
Customer Deposits 18 23,979,205,974 20,414,684,038
Dividends & Profit Sharing 0 242,446,824
Credit Balances & Other Liabilities 19 455,148,244 445,762,619
Long Term Loans 20 121,042,257 270,408,918
Other Provisions 21 787,926,530 708,676,979
Total Liabilities 25,567,972,530 22,002,838,479
Shareholders' Equity
Issued & Paid- in Capital 1,300,000,000 1,300,000,000
Reserves 603,021,808 608,167,670
Total Shareholders' Equity 22 1,903,021,808 1,908,167,670
Net Profit of the Period 505,755,650
Total Shareholders' Equity & Net Profit 2,408,777,458 1,908,167,670
Total Liabilities & Shareholders' Equity 27,976,749,805 24,153,452,973
Contra Accounts 23 4,848,267,166 5,175,378,396
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME STATEMENT
As of December 31, 2004
Amounts in LE. Note 31-Dec-2004 31-Dec-2003
Interest Received from clients & Banks 1,248,111,869 1,170,428,750
Interest Received from Treasury Bills & Bonds 368,999,619 277,505,567
Interest Paid to Clients & Banks (908,197,696) (869,115,423)
Net Interest Income 708,913,792 578,818,894
Banking Fees & Commissions 351,774,711 261,886,103
Share Dividends 31,733,658 20,674,978
Foreign Exchange Income 24 105,026,452 (2,168,707)
Profit from Selling Investment 23,232,948 16,859,968
Trading Investment Revaluation Differences (5,218,850) 98,569,657
Other Income 57,290,780 36,712,507
Total Fee Income 563,839,699 432,534,506
Net Operating Income 1,272,753,491 1,011,353,400
Provisions (322,658,431) (303,438,801)
Other Investment Revaluation Differences 25 (68,518,066) 12,182,060
General & Administration Expenses
& Depreciation (328,649,064) (267,225,665)
Other Expenses (47,303,088) (40,981,209)
(767,128,649) (599,463,615)
Net Operating income 505,624,842 411,889,785
Non-Operating income 130,808 691,298
Net Profit 505,755,650 412,581,083
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of December 31, 2004
Amounts in LE. 31-Dec-2004 31-Dec-2003
Cash Flow From Operating Activities
Net Income Before Tax 505,755,650 412,581,083
Adjustments To Reconcile Net Income
Total Net Cash Provided by operating
Depreciation 46,739,840 39,771,576
Provisions (Additions during the period) 322,658,431 303,438,801
Trading Investment Evaluation 5,218,850 (98,569,657)
Other Investment Evaluation 68,518,066 (12,182,060)
Utilization of Provision (Other than Provision
for doubtful debts) (78,755) (8,498)
Difference in revaluation of FCY Provision
Balances (1,434,375) 50,551,910
Gain(Loss) From Selling of Fixed Assets (130,808) (691,298)
Gain(Loss) From Selling of Investments (23,232,948) (16,859,968)
Paid Income Tax (17,470,888) (124,000,000)
Difference in Revaluation of Long Term Loans 2,140,200 46,039,556
Operating Profit Before Changes in
Operating Assets and Liabilities 908,683,263 600,071,445
Net Decrease (Increase) in Assets
Due from banks (904,477,381) (819,809,993)
Treasury Bills Over Three Months (853,141,913) (249,094,953)
Reverse Repos (674,285,962) 0
Trading Investments (202,197,522) (285,289,410)
Available for Sale Investments (657,840,933) 264,245,944
Loans & Overdrafts (1,124,674,245) (1,861,551,199)
Debit Balances & Other Liabilities (131,916,846) (9,135,624)
Net Increase (Decrease) In Liabilities
Due to Banks 61,343,417 (164,664,633)
Customer Deposits 3,564,521,936 4,599,932,246
Credit Balances & Other Liabilities 9,385,625 123,633,747
Net Cash Provided from Operating Activities (4,600,561) 2,198,337,570
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of December 31, 2004 31-Dec-2004 31-Dec-2003
Cash Flow From Investment Activities
Purchase of Subsidiaries (16,740,000) (20,160,000)
Prepaid for Fixed Assets, premises and
Fitting-out of Branches (109,516,673) (83,365,487)
Purchase of Held-to-Maturity Investments 778,287,662 (933,347,940)
Net Cash (Used in) Investment Activities (652,030,989) (1,036,873,427)
Cash Flow From Financing Activities
Decrease in Long Term Loans (151,506,861) (101,625,819)
Dividends Paid (242,446,824) (238,801,907)
Increase(decrease) in bonds (300,000,000)
(5,145,862) 20,618,560
Net Cash (Used in) provided from Financing
Activities (399,099,547) (619,809,166)
Net Increase in cash & cash equivalent 248,330,881 541,654,977
Beginning Balance of cash and cash equivalent 3,077,271,444 2,535,616,467
Cash & Cash equivalent Balance At the End
of the period 3,325,602,325 3,077,271,444
Cash & Cash Equivalent are Represented as
Follows
Cash and Due from Central Bank 2,970,806,011 2,674,292,801
Due From Banks 4,649,962,623 3,782,015,348
Treasury Bills 2,268,671,181 1,427,181,491
Due to Banks (4,561,907,521) (3,657,430,140)
Treasury Bills More than Three Months (2,001,929,969) (1,148,788,056)
Total Cash& Cash Equivalent 3,325,602,325 3,077,271,444
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY
As of December 31, 2004
31-Dec-2004 Capital Legal General Special Reserves for Profits of the Total
Reserves Reserves Reserves Inv. year
Revaluation
Beginning 1,300,000,000 254,704,948 0 162,709,903 20,618,560 412,581,083 2,150,614,494
Balance
Transfer to 0 20,629,054 149,505,205 0 0 (170,134,259) 0
Reserves
Distributed 0 0 0 0 0 (242,446,824) (242,446,824)
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 1,300,000,000 275,334,002 149,505,205 162,709,903 15,472,698 505,755,650 2,408,777,458
Balance
31-Dec-2003 Capital Legal Reserves General Special Reserves for Profits of Total
Reserves Reserves Inv. the year
Revaluation
Beginning 650,000,000 308,719,566 453,901,139 162,709,903 0 0 1,575,330,608
Balance
Transfer to 0 36,909,488 275,309,014 0 0 0 312,218,502
Reserves
Distributed 0 0 0 0 0 0 0
Profits
Capital 650,000,000 (70,295,052) (579,704,948) 0 0 0 0
Increase
Net Profit 0 0 0 0 0 0 0
Increase in 0 0 0 0 20,618,560 0 20,618,560
Reserves
Ending 1,300,000,000 275,334,002 149,505,205 162,709,903 20,618,560 0 1,908,167,670
Balance
4. Cash And Due From Central Bank
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
- Cash & Cash Items 408,463,148 371,929,838
- Reserve Balance with CBE 2,562,342,863 2,302,362,963
Total Cash & Due From
Central Bank 2,970,806,011 2,674,292,801
5. Due from Banks
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
(A) Central Bank
- Time Deposits 232,463,340 633,928,379
Total Due from central bank 232,463,340 633,928,379
(B) Local Banks
- Current Accounts 5,245,686 4,990,327
- Time Deposits 488,549,000 396,425,251
Total Due from Local Banks 493,794,686 401,415,578
(C) Foreign Banks
- Current Accounts 82,809,416 119,594,881
- Time Deposits 3,840,895,181 2,627,076,510
Total Due From Foreign Banks 3,923,704,597 2,746,671,391
Total Due From Banks 4,649,962,623 3,782,015,348
6. Treasury Bills
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
- 91 Days Maturity 270,800,000 280,000,000
- 182 Days Maturity 1,416,725,000 1,166,000,000
- 364 Days Maturity 666,225,000 -
Total Treasury Bills 2,353,750,000 1,446,000,000
- Issuance Discount (85,078,819) (18,818,509)
Net Treasury Bills 2,268,671,181 1,427,181,491
Dec. 31, 2004 Dec. 31, 2003
7 - Reverse Repos L.E L.E
-Maturity within one week 258,017,644
-Maturity within three months 370,527,770
-Maturity within six months 45,740,548
-Maturity within one year -
674,285,962 -
8 -Trading Financial Investments
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
-Portfolio Managed By other 453,931,288 290,361,988
parties
-Bonds 202,052,927 178,259,906
-Shares 17,217,686 7,601,335
Total Trading Financial Investments 673,201,901 476,223,229
The Financial Trading Investments are represented as follows :-
-Financial Investments Quoted on Stock Exchange 673,201,901 476,223,229
-Financial Investments Un-quoted on Stock 0 0
Exchange
673,201,901 476,223,229
9 - Available for sale financial investments
Dec. 31, 2004 Dec. 31, 2003
(A) Shares L.E L.E
-Bank's Shares 9,076,909 6,890,735
-Corporate Shares 573,722,193 614,867,372
(B) Bonds
-Governmental Bonds 698,204,996 330,072,337
-Bank's Bonds 114,958,153 115,184,353
-Corporate Bonds 855,439,927 571,831,566
2,251,402,178 1,638,846,363
Available for sale financial investments
are represented as follows :-
-Financial Investments Quoted on
Stock Exchange 1,902,849,069 1,316,598,355
-Financial Investments Un-quoted on Stock 348,553,109 322,248,008
Exchange
2,251,402,178 1,638,846,363
The market Value of Available for sale Investments listed on the Capital market
is LE 1,971,258,092 as of Dec 31,2004 compared to LE 1,360,090 as of Dec 31,
2003
10- Loans and Overdrafts
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
Discounted Bills 175,368,806 287,242,050
Loans & Overdrafts to Customer 13,641,966,481 12,279,166,995
Loans & Overdraft to Banks 638,829,924 746,428,550
14,456,165,211 13,312,837,595
Unearned Bills discount (4,102,723) (6,343,819)
Provision For Doubtful Debts (911,915,247) (718,723,704)
Unearned Interest & commission (145,669,370) (82,531,119)
Net Loans & Overdrafts 13,394,477,871 12,505,238,953
11 - Provision For Doubtful Debts
Specific Total
LE LE
-Balance at beginning of the year 333,106,251 718,723,704
-Addition during the year 224,424,862 224,424,862
-written off debts recoveries 14,364,457 14,364,457
-Foreign currency revaluation diff. (2,606,103) (2,606,103)
569,289,467 954,906,920
-Usage during the year (42,991,673) (42,991,673)
-Transferred from general to specific 25,172,138 0
Balance at the end of the year 551,469,932 911,915,247
Specific Total
LE LE
-Balance at beginning of the year 165,087,738 454,285,611
-Addition during the year 199,677,510 199,677,510
-written off debts recoveries 13,392,724 13,392,724
-Transferred from general to specific 3,128,362 0
-Transferred from provision for income tax 41,618,560 41,618,560
-Foreign currency revaluation diff. 42,229,943 150,167,278
465,134,837 859,141,683
-Usage during the Year (132,028,586) (132,028,586)
-Transfer to provision for contingent 0 (8,389,393)
Balance at the end of the Year 333,106,251 718,723,704
12 - Held to maturity Investments
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
-Housing Bonds (maturity Dec.2019) 215,000 215,000
-Treasury Bonds 155,060,278 933,347,940
155,275,278 933,562,940
The held to maturity Financial Investments are represented as follows :-
-Investments Quoted on Stock Exchange 155,060,278 933,347,940
-Investments Un-quoted on Stock Exchange 215,000 215,000
155,275,278 933,562,940
The market value of Held to Maturity Financial Investment is LE 163,273,464
as of Dec. 31,2004
13 - Financial Investments in subsidiary companies
Dec. 31, 2004 Dec. 31, 2003
LE LE %
-Commercial International Brokerage co. 12,000,000 10,000,000 %40
-Contact for Cars Trading 31,000,000 20,000,000 %40
-Commercial International life insurance co. 32,000,000 32,000,000 %40
-C I Assets Management 1,500,000 1,500,000 %30
-Corplease co. 5,400,000 2,160,000 %40
-Concept co. 500,000
82,400,000 65,660,000
The Financial Investments in subsidiary companies are represented as follows:-
-Financial Investments Quoted on
Stock Exchange 12,000,000 10,000,000
-Financial Investments Un-quoted on Stock
Exchange 70,400,000 55,660,000
82,400,000 65,660,000
The market value of The Financial investments in subsidiary companies quoted
on stock Exchange is LE 12,000,000 as of 31 Dec. 2004 And 10,000,000 as of
Dec 2003
14- Capital Commitments (Financial Investments) :
The capital commitments for the financial investments reached in date of Financial position L.E
Financial Position L.E. 132,305,874 as follow :-
Gross Investment Paid Remaining
L.E L.E L.E
-Available for sale Financial investments 176,749,490 60,643,616 116,105,874
Financial Investments in subsidiaries co. 21,600,000 5,400,000 16,200,000
15 - Debit Balances and Other Assets
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
-Accrued Interest receivable 191,085,751 104,492,257
-Prepaid Expenses 15,050,977 12,573,959
-Advances for Purchase of Fixed Assets 83,387,859 83,223,539
-Assets Acquired for Settlement of Debts 131,866,299 120,855,834
-Accounts receivable & Other Assets 140,085,730 97,239,396
Total Debit Balances and Other Assets 561,476,616 418,384,985
16. Fixed Assets (Net of Accumulated Depreciation)
Land Premises E.D.P Vehicles Fitting Machines & Furniture total
-Out &
Equipment Furnishing
L.E L.E L.E L.E L.E L.E L.E L.E
Opening 2,247,073 162,708,373 154,336,833 14,886,683 47,083,795 60,733,711 24,445,319 466,441,787
Balance (3)
Additional 3,750,504 43,402,370 30,485,018 3,074,326 7,768,777 14,660,677 6,341,489 109,483,161
during the
year
Closing 5,997,577 206,110,743 184,821,851 17,961,009 54,852,572 75,394,388 30,786,808 575,924,948
Balance (1)
Acc.Dep at
beginning of - 48,765,007 84,512,136 10,882,589 39,392,485 38,257,980 12,584,727 234,394,924
the year (4)
Current year - 8,962,246 23,739,776 1,194,186 4,999,441 5,721,085 2,123,106 46,739,840
Depreciation
Acc.Dep at
end of the - 57,727,253 108,251,912 12,076,775 44,391,926 43,979,065 14,707,833 281,134,764
year (2)
End of year 5,997,577 148,383,490 76,569,939 5,884,234 10,460,646 31,415,323 16,078,975 294,790,184
net
assets(1-2)
Beginning of 2,247,073 113,943,366 69,824,697 4,004,094 7,691,310 22,475,731 11,860,592 232,046,863
year net
assets (3-4)
5% 20% 20% 33.3% 12.5% 10%
17 - Due to Banks
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
(a) Central Bank
-Current Accounts 1,753,231 2,832,636
-Time Deposits 0 9,211,072
Total Due to Central Bank 1,753,231 12,043,708
(b) Local Banks
-Current Accounts 20,961,988 23,241,936
-Time Deposits 920,848 19,062,452
Total Due to Local Banks 21,882,836 42,304,388
( c ) Foreign Banks
-Current Accounts 201,013,275 108,957,829
-Time Deposits 0 0
Total Due to foreign Banks 201,013,275 108,957,829
Total Due to Banks 224,649,342 163,305,925
18 - Customers' Deposits
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
-Demand Deposits 6,210,737,358 4,339,557,816
-Time & Notice Deposits 6,964,795,904 7,967,313,845
-Saving & Deposits Certificates 5,277,089,511 3,456,461,428
-Saving Deposits 4,391,838,621 3,753,395,330
-Other Deposits 1,134,744,580 897,955,619
Total Customer Deposits 23,979,205,974 20,414,684,038
19 - Credit Balances and Other Liabilities
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
-Accrued Interest Payable 86,518,203 106,739,344
-Accrued Expenses 46,265,669 15,472,209
-Accounts Payable 305,154,704 313,560,350
-Other Liabilities 17,209,668 9,990,716
Total Credit Balances
And Other Liabilities 455,148,244 445,762,619
20 - Long Term Loans
Rate Maturity date Maturing through Balance at Balance at
% next year Dec. 31, 2004 Dec. 31,
2003
Sumitomo bank 153,974,175
European Investment Bank - Dec-2012 0 33,230,664 31,090,464
KFW Bank ten years 18,873,292
Ministry of Agriculture 3.5 - 5.5 3-5 years 4,710,332 11,537,188 16,021,323
(F.S.D.P) depends on
maturity date
Ministry of Agriculture (V.S.P) 3.5 - 5.5 3-5 years 2,562,190 246,350 1,142,750
depends on
maturity date
Ministry of Agriculture 3.5 - 5.5 3-5 years 2,417,873 43,357,763 47,741,357
(M.S.S.P) depends on
maturity date
Barclays bank (P.S.F.S) 6.62 ten years 2,565,000 3,797,000 10,212,000
from 1996
Social Fund 3 months T/D 2010 0 10,000,000 10,226,849
or 9% which more
Total 12,255,395 121,042,257 270,408,918
21 - Other
Provisions
2004 Opening Addition FCY Balance Usage Transfer Closing
Balance During the year Reval. Difference During the year Balance
Provision for 474,262,778 50,000,000 0 (17,470,888) 0 506,791,890
Income Tax
claims
Provision for 1,883,088 314,391 (7,004) (78,755) 0 2,111,720
Legal Claims
Provision for 68,147,300 32,221,000 (783,803) 0 0 99,584,497
contingent
Provision for 151,066,860 15,698,178 (344,592) 0 (12,377,304) 154,043,142
General risk *
Provision for 13,316,953 0 (298,976) 0 12,377,304 25,395,281
Bank Risk
insurance
Total Other 708,676,979 98,233,569 (1,434,375) (17,549,643) 0 787,926,530
Provisions
*Operation risk and Market risk which reach 107,406M and 16,856M consequently on 31/12/2004 are a part
of General risk provision cover according to 'Basel II' requirements.
Opening Addition FCY Balance Usage Closing
2003 Balance During the Year Reval. During the Year Transfer Balance
Difference
Provision for 558,632,242 81,249,096 0 (124,000,000) (41,618,560) 474,262,778
Income Tax claims
Provision for Legal 1,433,328 0 449,760 0 0 1,883,088
Claims
Provision for 27,968,646 22,512,195 9,277,066 0 8,389,393 68,147,300
contingent
Provision for 113,558,729 0 37,508,131 0 0 151,066,860
General risk
Provision for Bank 10,000,000 0 3,316,953 0 0 13,316,953
Risk insurance
Provision for Real 8,498 0 0 (8,498) 0 0
Estate Tax
Total Other 711,601,443 103,761,291 50,551,910 (124,008,498) (33,229,167) 708,676,979
Provisions
22 - 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 legal Reserve reaches 50% of the bank's issued and paid -in capital
Concurrence of Central Bank of Egypt for usage of Special Reserve is required .
23- Contingent Accounts
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
-Letters of Guarantee 4,077,122,707 4,022,808,535
-Letters of Credit ( import & 518,658,339 693,273,659
export )
-Customers Acceptances 370,222,289 457,896,303
-Forward Foreign Exchange 933,107 79,099
contracts
-Swap Deals (118,669,276) 1,320,800
Total 4,848,267,166 5,175,378,396
24 - Foreign Exchange Profits (losses)
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
-profit from dealing with foreign currencies 100,951,465 59,413,794
-Profit (loss) of revaluation of Monitoring
assets and Liabilities 1,205,385 (67,976,843)
-profit (loss) forward deals revaluation 745,490 198,188
-profit revaluation of options 2,124,112 6,196,154
105,026,452 (2,168,707)
25 - Other Financial investments evaluation differences
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
+( - ) +( - )
-Available for sale Financial investments (68,518,066) 12,182,060
-Held to maturity Financial Investments - -
-Investments in subsidiary and associated - -
companies
(68,518,066) 12,182,060.0
26 - Earning Per Share
Dec. 31, 2004 Dec. 31, 2003
L.E L.E
-Net Profit For The Year 505,755,650 412,581,083
-Board Member's Bonus (7,586,335) (6,188,716)
-Staff Profit Sharing (50,575,565) (41,258,108)
-Shareholders' share in profits 447,593,750 365,134,259
-Number of Shares 130,000,000 130,000,000
Earning Per Share 3.44 2.81
27 - Assets & Liabilities Maturities
Maturity Maturity
Within one year Over One Year
Assets
Cash and Due from Central Bank 2,970,806,011 -
Due from Banks 4,649,962,623 -
Treasury Bills 2,353,750,000 -
Reverse repos 674,285,962 -
Trading Investments 673,201,901 -
Available for sale investments 2,251,402,178 -
Customers' Loans & Overdrafts 5,889,750,526 7,781,915,391
Banks' Loans & Overdrafts 324,448 638,505,476
Held to maturity Investments - 155,275,278
Investments in subsidiary companies - 82,400,000
Debit Balances and Other Assets 561,476,616 -
20,024,960,265 8,658,096,145
Liabilities
Due to Banks 224,649,342 -
Customer Deposits 18,693,844,750 5,285,361,224
Long Term Loans 12,255,395 108,786,864
Credit Balances and Other
Liabilities 455,148,244 -
19,385,897,731 5,394,148,088
28 - Interest Rate
The average interest rates applied for Assets and Liabilities
during the year are 5.94% & 3.26% Respectively.
29 - Corporate 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 2000 and the final settlement is under discussion
in the court of law .
Corporate income Tax for the years from 2001 up to 2002 were examined and under
discussion with the tax Authority.
30 - Distribution of Assets, Liabilities and Contingent Accounts
Assets
Local Currency Foreign Currency
1-Due From Banks 298,158,474 4,351,804,149
2-Loans & Overdrafts
%
-Agriculture Sector 94,329,829 0.65
-Industrial Sector 7,149,432,641 49.46
-Trading Sector 564,250,011 3.90
-Services Sector 5,378,650,007 37.21
-Household Sector 1,059,468,169 7.33
-Other Sectors 210,034,554 1.45
Total Loans & Overdrafts
(Including unearned interest) 14,456,165,211 100.00
Unearned Discounted Bills (4,102,723)
Provision for Doubtful Debts (911,915,247) 6.31
Unearned Interest & Commission (145,669,370)
Net Loans & Overdrafts 13,394,477,871
Liabilities
Local Currency Foreign Currency
1- Due to Banks 2,823,048 221,826,294
2-Customers' Deposits %
-Agriculture Sector 14,441,486 0.06
-Industrial Sector 2,619,481,284 10.92
-Trading Sector 691,757,361 2.89
-Services Sector 3,840,085,822 16.01
-Household Sector 15,300,594,160 63.81
-Other Sector 1,512,845,861 6.31
Total Customers' Deposits 23,979,205,974 100.00
Contingent Accounts
Local Currency Foreign Currency
-Letters of Guarantee 1,300,303,013 2,776,819,694
-Letter of Credit ( import & export ) 16,103,468 502,554,871
-Customers Acceptances 224,111,483 146,110,806
-Forward Foreign Exchange Contracts 116,657,249 (115,724,142)
-Swap Deals (926,565,596) 807,896,320
730,609,617 4,117,657,549
31 - Foreign Currencies Positions
Dec. 31, 2004 Dec. 31, 2003
in thousand L.E in thousand L.E
Egyptian Pound (16,400) (5,480)
US Dollar 15,849 (1,200)
Sterling pound (1,984) 1,630
Japanese Yen 25 (407)
Swiss Franc 191 208
Euro 2,838 6,302
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 82,400,000
-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 on Mar, 2004 decitions, For
ratifing the Appropriation account of year 2003.
This information is provided by RNS
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