Q1'2012 Stand-alone Financials

RNS Number : 0303D

Commercial Intnl Bank (Egypt) SAE

10 May 2012

 

Commercial International Bank (Egypt) S.A.E.
Unconsolidated Financial Statements
March 31,  2012
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
FINANCIAL POSITION
As of March. 31, 2012
Amounts in EGP.	Note		March 31, 2012				Dec. 31 ,2011
Assets
Cash and Due with Central Bank	15		5,395,158,277				7,492,064,510
Due From Banks	16		9,445,148,797				8,449,298,705
Treasury Bills and Other Governmental Notes	17		8,902,509,763				9,213,390,067
Trading Financial Assets	18		694,418,777				561,084,273
Loans and Advances to Banks	19		1,256,754,859				1,395,594,609
Loans and Advances to Customers	20		38,841,381,998				39,669,785,864
Derivative Financial Investments	21		100,130,748				146,544,656
Financial Investments
Available for Sale	22		15,602,737,179				15,412,566,069
Held to Maturity	22		2,957,944,562				29,092,920
Investments in Subsidiary and Associates	23		995,622,298				995,595,778
Investment Property	24		12,024,686				12,774,686
Other Assets	25		1,812,771,974				1,518,509,876
Deferred Tax	33		103,404,688				95,141,726
Property, Plant and Equipment	26		671,123,324				636,775,294
Total Assets			86,791,131,930				85,628,219,033
Liabilities and Equity
Liabilities
Due to Banks	27		1,044,862,620				3,340,794,517
Due to Customers	28		74,253,127,889				71,574,047,530
Derivative Financial Instruments	21		99,867,019				114,287,990
Dividends Payable			593,456,300				-
Other Liabilities	30		1,636,107,108				1,313,785,436
Long Term Loans	29		101,931,664				99,333,376
Other Provisions	31						264,625,909
Total Liabilities			78,054,136,353				76,706,874,758
Equity
Issued & Paid- in Capital	32		5,934,562,990				5,934,562,990
Reserves	32		2,129,264,123				1,085,472,868
Reserve for Employee Stock Ownership Plan (ESOP)			159,589,437				137,354,419
Retained Earnings			1,001,979				15,105,920
Total Equity			8,224,418,529				7,172,496,197
Net Profit of the Period/Year After Tax			512,577,048				1,748,848,078
Total Equity and Net Profit for the Period/Year			8,736,995,577				8,921,344,275
Total Liabilities and Equity			86,791,131,930				85,628,219,033
Contingent Liabilities and Commitments
Letters of Credit, Guarantees and other commitments	37		13,743,236,274				12,559,603,516
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
INCOME  STATEMENT
As of March. 31, 2012
Amounts in EGP.	Note		March 31, 2012				March 31, 2011
Interest and Similar Income			1,664,834,562				1,284,128,056
Interest and Similar Expense			(779,319,889)				(653,362,417)
Net Interest Income	6		865,514,673				630,765,639
Fee and Commissions Income			214,089,807				191,450,381
Fee and Commissions Expense			(23,670,700)				(18,987,766)
Net Income from Fees and Commissions	7		190,419,107				172,462,615
Dividend Income	8		3,948,837				442,234
Net Trading Income	9		98,886,825				148,699,032
Profit from Financial Investments	22		(512,588)				1,319,514
Administrative Expenses	10		(353,896,198)				(353,686,436)
Other Operating (Expenses) Income	11		(36,675,496)				(64,939,862)
Impairment Charge for Credit Losses	12		(16,542,204)				(122,800,880)
Net Profit before Tax			751,142,956				412,261,856
Income Tax Expense	13		(246,828,870)				(88,844,259)
Deferred Tax	33 & 13		8,262,962				9,104,963
Net Profit of the Period			512,577,048				332,522,560
Earning per share	14
Basic			0.80				0.52
Diluted			0.78				0.51
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1a
As of March. 31, 2012
Amounts in EGP.			March 31, 2012				March 31, 2011
Cash Flow From Operating Activities
Net Profit Before Tax			751,142,956				412,261,856
Adjustments To Reconcile Net Profit to Net Cash
Provided by Operating Activities
Depreciation			41,461,048				56,694,622
Assets Impairment Charges			16,542,204				122,923,729
Other Provisions Charges			67,087,237				6,214,523
Trading Financial Investment Revaluation Differences			(17,092,843)				41,629,180
Financial Investments Impairment Charge (Release)			2,662,324				(48,065,735)
Utilization of Other Provisions			(7,702,610)				(2,939,853)
Other Provisions No Longer Used			(531,054)				-
Exchange Differences of Other Provisions			1,304,271				3,969,911
Profits From Selling Property, Plant and Equipment			(43,012)				(942,513)
Profits From Selling Financial Investments			(751,298)				(48,401,288)
Profits from Selling Associates			-				(1,873,813)
Exchange Difference of  Long Term Loans			90,904				5,076,685
Share Based Payments			22,235,018				20,703,739
Investments in Subsidiary and Associates Revaluation		(26,520)				(508,872)
Real Estate Investments Impairment Charges			-				361,200
Operating Profits Before Changes in Operating Assets and Liabilities			876,378,625				567,103,371
Net Decrease (Increase) in Assets and Liabilities
Due from banks			(1,025,354,198)				(3,279,186,926)
Treasury Bills & Other Governmental Notes			(2,799,053,252)				2,022,306,742
Trading Financial Assets			(116,241,661)				926,096,580
Derivative Financial Instruments			31,992,937				(35,963,064)
Loans and Advances to Banks and Customers			950,701,413				(1,333,938,801)
Other Assets			(295,627,075)				125,682,921
Due to Banks			(2,295,931,897)				1,841,027,396
Due to Customers			2,679,080,359				1,884,579,267
Other Liabilities			75,492,802				26,960,613
Net Cash Provided from Operating Activities			(1,918,561,947)				2,744,668,099
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
CASH FLOW STATEMENT 1b
As of March. 31, 2012			March 31, 2012				March 31, 2011
Cash Flow From Investing Activities
Proceeds from Selling Subsidiary and Associates			-				1,000,000
Purchases of Property, Plant and Equipment			(74,401,088)				(25,566,082)
Redemption of Held-to-Maturity Financial Investments			-				34,585,979
Purchases of Held to Maturity Financial Investments			(2,928,851,641)				-
Purchases of Available for  Sale Financial Investments			(3,235,631,200)				(1,899,829,040)
Proceeds from Selling Available for Sale Financial Investments			3,130,594,820				1,080,009,117
Proceeds from Selling Real Estate Investments			750,000				-
Net Cash Generated from (Used in) Investing  Activities			(3,107,539,110)				(809.800,026)
Cash Flow From Financing Activities
Increase (Decrease) in Long Term Loans			2,507,383				130,760,791
Dividends Paid			(212,750,221)				(251,777,844)
Net Cash Generated from (Used in) Financing Activities			(210,242,838)				(121,017,053)
Net Increase (Decrease) in Cash and Cash Equivalent			(5,236,343,895)				1,813,851,020
Beginning Balance of Cash and Cash Equivalent			8,081,134,203				7,778,944,041
Cash and Cash Equivalent Balance At the End of the Period			2,844,790,308				9,592,795,061
Cash & Cash Equivalent Comprise
Cash and Balances with Central Bank			5,395,158,277				5,168,264,756
Due From Banks			9,445,148,797				9,859,268,757
Treasury Bills and Other  Governmental Notes			8,902,509,763				9,309,050,446
Obligatory Reserve Balance With CBE			(2,979,789,724)				(2,509,454,480)
Due from Banks (Time Deposits) More than Three Months			(6,297,816,068)				(7,164,528,077)
Treasury Bills with Maturity  More than Three Months			(11,620,420,737)				(5,069,806,341)
Total Cash & Cash Equivalent			2,844,790,308				9,592,795,061

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY
As of March  31, 2012

March 31, 2012	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (EGP)	Special Reserves (EGP)	Revaluation Diff. (EGP)	Risks Reserve (EGP)	Profits 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
Transferred to Reserves	-	87,306,567	743,027,060	-	2,716,747	-	-	(833,050,374)	-	-
Dividends Paid	-	-	-	(15,105,920)	-	-	-	(791,100,601)	-	(806,206,521)
Net Profit of the Period	-	-	-	-	-	-	-	512,577,048	-	512,577,048
Transfer from Special Reserve	-	61,697,292	8,143,225	1,001,979	(70,842,496)	-	-	-	-	-
Addition from Financial Investment Revaluation	-	-	-	-	-	87,045,756	-	-	-	87,045,756
Transferred to Bank Risk Reserve	-	-	-	-	-	-	(22,811,813)	22,811,813	-	-
Reserve for Employee Stock Ownership Plan ESOP	-	-	-	-	-	-	-	-	22,235,018	22,235,018
Balance at the end of the Period	5,934,562,990	380,348,755	1,985,445,245	1,001,979	117,805,566	(636,025,062)	258877,806	535,388,861	159,589,437	8,736,995,577

March 31, 2011	Capital (EGP)	Legal Reserve (EGP)	General Reserve (EGP)	Retained Earnings (EGP)	Special Reserves (EGP)	Revaluation Diff. (EGP)	Risk Reserve (EGP)	Profits of the Period (EGP)	Reserve for Employee Stock Ownership Plan ESOP	Total (EGP)
Beginning Balance	5,901,443,600	125,128,337	78,564,646	20,231,298	184,356,569	(18,014,631)	156,992,515	2,010,672,119	149,520,859	8,608,895,311
Transferred to Reserves	-	106,216,559	1,155,710,314	-	1,574,746	-	-	(1,173,875,293)	(89,626,327)	-
Dividends Paid	-	-	-	(20,231,298)	-	-	-	(821,690,906)	-	(841,922,204)
Net Profit of the Period	-	-	-	-	-	-	-	332,522,560	-	332,522,560
Addition from Financial Investment Revaluation	-	-	-	-	-	(285,363,091)	-	-	-	(285,363,091)
Transferred to Bank Risk Reserve	-	-	-	-	-	-	(2,648,019)	2,648,019	-	-
Reserve for Employee Stock ownership plan ESOP	-	-	-	-	-	-	-	-	20,703,739	20,703,739
Balance at the End of Period	5,901,443,600	231,344,896	1,234,274,960	-	185,931,315	(303,377,722)	154,344,396	350,276,499	80,598,271	7,834,836,316

 

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