Com.int.bk.regs Regulatory News (CBKD)

Commercial International Bank (Egypt) S.A.E.

Consolidated Financial Statements

June 30, 2012

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of June 30, 2012

Amounts in EGP

Note

June 30, 2012

Dec. 31, 2011

Assets

Cash & Balances with Central Bank

15

5,542,320,904

7,492,064,510

Due From Banks

16

9,880,244,903

8,528,229,519

Treasury Bills & Other Governmental Notes

17

9,414,560,183

9,260,842,183

Trading Financial Assets

18

1,341,176,357

675,325,450

Loans & Advances to Banks

19

1,076,710,388

1,395,594,609

Loans & Advances to Customers

20

39,693,994,592

39,669,785,864

Derivative Financial Instruments

21

134,310,943

146,544,656

Financial Investments

Available for Sale

22

15,405,567,958

15,421,546,277

Held to Maturity

22

3,673,289,768

39,159,520

Investments in Associates

23

122,830,678

106,676,167

Brokers-Debit Balances

93,951,742

24,185,525

Reconciliation Accounts- Debit Balances

66,953,670

42,507,905

Investment Property

24

10,024,686

12,774,686

Other Assets

25

2,225,009,016

1,534,819,491

Goodwill

41

8,688,759

120,280,337

Intangible Assets

41

103,712,954

309,353,104

Deferred Tax

33

135,433,764

123,977,698

Property, Plant and Equipment

26

672,947,372

630,508,089

Total Assets

89,601,728,637

85,534,175,590

Liabilities and Equity

Liabilities

Due to Banks

27

1,785,014,708

3,340,794,517

Due to Customers

28

76,767,071,626

71,467,935,259

Brokers-Credit Balance

174,895,070

111,851,855

Derivative Financial Instruments

21

130,111,395

114,287,990

Other Liabilities

30

1,451,504,179

1,342,736,040

Long Term Loans

29

91,074,960

99,333,376

Other Provisions

31

284,001,472

270,801,909

Total Liabilities

80,683,673,410

76,747,740,946

Equity

Issued and Paid In Capital

32

5,972,275,410

5,934,562,990

Reserves

32

2,223,432,742

1,387,842,060

Reserve for Employee Stock Ownership Plan (ESOP)

129,828,073

137,354,418

Retained Earnings

(482,976,388)

(334,419,692)

Total Equity

7,842,559,837

7,125,339,776

Net Profit of the Period/Year After Tax

1,028,139,869

1,614,738,322

Total Equity And Net Profit For Period/Year

8,870,699,706

8,740,078,098

Minority Interest

47,355,521

46,356,546

Total Minority Interest and Equity

8,918,055,227

8,786,434,644

Total Liabilities, Equity and Minority Interest

89,601,728,637

85,534,175,590

Contingent Liabilities and Commitments

Letters of Credit, Guarantees and Other Commitments

37

13,384,316,950

12,559,553,516

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of June 30, 2012

Amounts in EGP.

Note

June 30, 2012

June 30, 2011

Interest and Similar Income

3,602,430,763

2,587,280,676

Interest and Similar Expenses

(1,801,233,932)

(1,324,813,156)

Net Interest Income

6

1,801,196,831

1,262,467,520

Fees & Commissions Income

477,424,825

447,969,895

Fees and Commissions Expense

(47,766,855)

(41,227,766)

Net Income from Fees and Commissions

7

429,657,970

406,742,129

Dividend Income

8

21,744,400

57,164,372

Net Trading Income

9

204,616,711

226,109,065

Profit from Financial Investments

22

(23,267,142)

37,166,474

Goodwill Amortization

(1,737,752)

(20,046,723)

Administrative Expenses

10

(756,065,029)

(712,863,574)

Other operating (Expenses) Income

11

(56,004,253)

(82,045,734)

Impairment Charge for Credit Losses

12

(159,244,620)

(201,264,786)

Intangible Assets Amortization

(12,699,546)

(33,733,620)

Bank's Share in the Profits of Associates

(471,111)

10,896,229

Net Profit Before Tax

1,447,726,459

950,591,353

Income Tax Expense

13

(430,386,683)

(216,050,496)

Deferred Tax

33 & 13

11,456,066

16,422,042

Net Profit of The Year

1,028,795,842

750,962,898

Minority Interest

655,973

167,503

Bank Shareholders

1,028,139,869

750,795,396

Earning per share

14

Basic

1.78

1.31

Diluted

1.75

1.29

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of June 30, 2012

Amounts in EGP.

June 30, 2012

June 30, 2011

Cash Flow from Operating Activities

Net Profit Before Tax

1,447,726,459

950,591,353

Adjustments To Reconcile Net Profit

To Net Cash Provided by Operating Activities

Depreciation

84,143,375

102,694,841

Assets Impairment Charges

159,262,715

202,892,406

Other Provisions Charges

86,724,165

1,204,986

Trading Financial Investment Revaluation Differences

(27,220,349)

32,976,379

Intangible Assets Amortization

12,699,546

33,733,620

Goodwill Amortization

1,737,752

20,046,723

Financial Investments Impairment Charge (Release)

10,652,982

(49,775,434)

Utilization of Other Provisions

(72,300,072)

(5,218,667)

Other Provisions No Longer Used

(531,054)

(2,085,267)

Exchange Differences of Other Provisions

(711,571)

4,010,666

Profits From Selling Property, Plant and Equipment

(1,633,796)

(2,661,678)

Profits From Selling Financial Investments

(8,415,397)

(90,782,148)

Profits from Selling Associates

-

(1,873,813)

Exchange Differences of Long Term Loans

(20,812)

Shares Based Payments

44,135,782

Investments in Associates Revaluation

-

(11,408,222)

Real Estate Investments Impairment Charges

-

361,200

Operating Profits Before Changes in Operating Assets and Liabilities

1,736,249,725

1,231,152,845

Net Decrease (Increase) in Assets and Liabilities

Due from banks

(962,784,101)

(3,090,538,362)

Treasury Bills & Other Governmental Notes

(1,601,411,260)

3,218,771,820

Trading Financial Assets

(638,630,558)

1,015,597,733

Derivative Financial Instruments

28,057,118

(41,476,427)

Loans and Advances to Banks and Customers

135,430,874

(2,276,256,247)

Other Assets

(799,386,923)

142,114,045

Due to Banks

(1,555,779,809)

(691,883,640)

Due to Customers

5,299,136,367

3,923,391,605

Other Liabilities

(258,575,320)

(622,420,045)

Net Cash Provided from Operating Activities

1,382,306,113

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of June 30, 2012

June 30, 2012

June 30, 2011

Cash Flow From Investing Activities

Purchase of Subsidiary and Associates

(16,154,511)

(11,000,000)

Purchases of Property, Plant and Equipment

(109,963,446)

(61,756,079)

Redemption of Held-to-Maturity Financial Investments

-

170,571,760

Purchases of Held to Maturity Financial Investment

(3,634,130,249)

-

Purchases of Available for Sale Financial Investments

(4,845,384,951)

(677,660,821)

Proceeds from Selling Available For Sale Financial Investments

4,989,103,162

-

Proceeds from Selling Real Estate Investments

2,750,000

-

Net Cash Generated from (Used in) Investing Activities

(3,613,779,994)

(579,845,140)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

(8,237,604)

127,007,982

Dividend Paid

(806,206,518)

(843,063,191)

Capital Increase

37,712,420

-

Net Cash Generated from (Used in) Financing Activities

(776,731,702)

(716,055,209)

Net Increase (Decrease) in Cash and Cash Equivalent

(3,008,205,583)

1,512,552,977

Beginning Balance of Cash and Cash Equivalent

8,207,517,133

8,058,126,497

Cash & Cash Equivalent Balance At the End of the Period

5,199,311,549

9,570,679,474

Cash & Cash Equivalent Comprise

Cash and Balances with Central Bank

5,542,320,904

6,075,170,048

Due From Banks

9,880,244,903

9,812,636,221

Treasury Bills and Other Governmental Notes

9,414,560,183

7,047,441,434

Obligatory Reserve Balance With CBE

(3,028,051,899)

(2,811,219,930)

Due from Banks (Time Deposits) More than Three Months

(6,186,983,796)

(6,680,007036)

Treasury Bills With Maturity More than Three months

(10,442,778,746)

(3,873,341,263)

Total Cash & Cash Equivalent

5,199,311,549

9,570,679,474

June 30,

2011

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Intangible Assets Value for Bank Share before Acquisition

Retained Earnings

(EGP)

Special Reserve

(EGP)

Reserve for A.F.S Investment Revaluation Diff.

(EGP)

Banking Risks Reserve

(EGP)

Profits of the period

(EGP)

Reserve for Employee Stock Ownership Plan ESOP (EGP)

Total Shareholders Equity

(EGP)

Minority Interest

(EGP)

Total

(EGP)

Beginning Balance

5,901,443,660

125,128,337

78,412,462

302,794,421

(203,604,610)

184,356,569

(18,418,736)

156,992,515

1,890,311,700

149,520,858

8,566,937,115

46,965,639

8,613,902,754

Transferred to Reserves

-

106,216,559

1,066,083,988

-

-

1,574,746

-

-

(1,173,875,293)

-

-

-

-

Transferred to Retained Earnings

-

-

-

-

(121,501,406)

-

-

-

121,501,406

-

-

-

-

Dividend paid

-

-

-

-

(20,231,298)

-

-

-

(822,831,893)

-

(843,063,191)

-

(843,063,191)

Net Profit of the year

-

-

-

-

-

-

-

-

307,944,024

-

307,944,024

(75,261)

307,868,763

Change During the period

-

-

-

-

(1,262,583)

-

-

-

-

-

(1,262,583)

(102,844)

(1,365,427)

Financial Investment

-

-

-

-

-

-

(285,330,326)

-

-

-

(285,330,326)

-

(285,330,326)

Transferred to Bank Risk Reserve

-

-

-

-

-

-

-

(2,648,019)

2,648,019

-

-

-

-

Reserve for Employee Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

-

20,703,739

20,703,739

-

20,703,739

Balance at the end of the period

5,901,443,600

231,344,896

1,144,496,450

302,794,421

(346,599,897)

185,931,315

(303,749,062)

154,344,496

325,697,963

170,224,597

7,765,928,778

46,787,534

7,812,716,312

June 30,

2012

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Intangible Assets Value for Bank Share before Acquisition (EGP)

Retained Earnings

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Investments Revaluation Diff.

(EGP)

Banking Risk reserve

(EGP)

Profits of the period

Reserve for Employee Stock ownership plan ESOP

Total Shareholders Equity

Minority Interest (EGP)

Total

(EGP)

Beginning Balance

5,934,562,990

231,344,896

1,234,122,776

302,794,421

(334,419,692)

185,931,315

(723,343,863)

281,689,619

1,490,041,219

137,354,418

8,740,078,098

46,356,546

8,786,434,644

Capital Increase

37,712,420

-

-

-

-

-

-

-

-

-

37,712,420

-

37,712,420

Transferred to Reserves

-

87,306,567

794,689,187

-

-

2,716,747

-

-

(833,050,374)

(51,662,127)

-

-

-

Transferred to Retained Earnings

-

-

-

-

(134,109,753)

-

-

-

134,109,753

-

-

-

-

Dividend paid

-

-

-

-

(15,105,920)

-

-

-

(791,100,598)

-

(806,206,518)

-

(806,206,518)

Net Profit of the Year

-

-

-

-

-

-

-

-

1,028,139,869

-

1,028,139,869

655,973

1,028,795,842

Transfer from Special Reserve

-

61,697,292

8,143,225

-

1,001,979

(70,842,496)

-

-

-

-

-

-

-

Change during the period

-

-

-

-

(343,002)

-

-

-

-

-

(343,002)

343,002

-

Addition from Financial

-

-

-

-

-

-

129,977,478

-

-

-

129,977,478

-

129,977,478

Transferred to Bank Risk Reserve

-

-

-

-

-

-

-

(153,575,808)

153,575,808

-

-

-

-

Reserve for Employee Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

-

44,135,782

44,135,782

-

44,135,782

Settlement of Intangible Asset value for Bank Share Before Acquisition

-

-

-

(302,794,421)

-

-

-

-

-

-

(302,794,421)

-

(302,794,421)

Balance at the end of the period

5,972,275,410

380,348,755

2,036,955,187

-

(482,976,388)

117,805,566

(593,366,385)

128,113,811

1,181,715,678

129,828,073

8,870,699,707

47,355,521

8,918,055,227