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

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

Consolidated Financial Statements

March 31, 2014

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of March 31, 2014

Amounts in EGP

Note

March 31, 2014

Dec. 31, 2013

Assets

Cash & Balances with Central Bank

15

4,729,829,856

4,804,974,237

Due From Banks

16

10,333,594,869

9,003,950,890

Treasury Bills & Other Governmental Notes

17

22,775,550,088

23,665,428,816

Trading Financial Assets

18

3,380,560,206

2,286,484,581

Loans & Advances to Banks

19

43,542,211

132,422,732

Loans & Advances to Customers

20

42,469,388,366

41,733,251,712

Derivative Financial Instruments

21

93,698,197

103,085,538

Financial Investments

Available for Sale

22

27,066,659,242

23,378,104,482

Held to Maturity

22

4,185,480,015

4,197,176,655

Investments in Associates

23

205,235,928

192,752,878

Brokerage Clients-Debit Balances

833,046,316

270,811,253

Reconciliation Accounts- Debit Balances

32,986,735

28,778,971

Investment Property

24

4,056,000

9,695,686

Other Assets

25

2,981,289,298

2,892,343,882

Deferred Tax

33

65,222,546

83,557,219

Property, Plant and Equipment

26

989,093,201

969,176,894

Total Assets

120,189,233,074

113,751,995,426

Liabilities and Equity

Liabilities

Due to Banks

27

876,140,847

1,373,410,040

Due to Customers

28

102,720,863,146

96,845,683,408

Brokerage Clients-Credit Balances

1,106,997,332

167,378,879

Derivative Financial Instruments

21

118,091,960

114,878,583

Current Income Tax Obligations

1,152,996,108

1,179,708,811

Other Liabilities

30

1,644,476,590

1,476,956,657

Long Term Loans

29

141,302,084

132,153,227

Other Provisions

31

499,602,189

454,699,000

Total Liabilities

108,260,470,256

101,744,868,605

Equity

Issued and Paid In Capital

32

9,081,734,430

9,002,435,690

Reserves

32

2,043,396,019

307,060,175

Reserve for Employee Stock Ownership Plan (ESOP)

105,223,752

190,260,457

Retained Earnings (Losses)

(155,160,013)

(546,531,497)

Total Equity

11,075,694,188

8,953,224,825

Net Profit of the Period/Year After Tax

805,224,903

3,006,487,540

Total Equity And Net Profit For Period/Year

11,880,919,091

11,959,712,365

Minority Interest

47,843,727

47,414,456

Total Minority Interest and Equity

11,928,762,818

12,007,126,821

Total Liabilities, Equity and Minority Interest

120,189,233,074

113,751,995,426

Contingent Liabilities and Commitments

Letters of Credit, Guarantees and Other Commitments

37

18,051,490,509

16,182,439,160

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of March 31, 2014

Amounts in EGP.

Note

March 31, 2014

March 31, 2013

Interest and Similar Income

2,561,862,105

2,145,204,975

Interest and Similar Expenses

(1,192,668,306)

(1,007,611,145)

Net Interest Income

6

1,369,193,799

1,137,593,830

Fees & Commissions Income

410,603,989

317,107,277

Fees and Commissions Expense

(36,851,976)

(29,298,795)

Net Income from Fees and Commissions

7

373,752,013

287,808,482

Dividend Income

8

222,578

1,701,888

Net Trading Income

9

152,918,694

135,889,585

Profit (losses) from Financial Investments

22

3,958,025

1,919,767

Administrative Expenses

10

(421,616,248)

(376,467,481)

Other operating (Expenses) Income

11

(151,260,041)

(54,361,347)

Impairment (Charge) Release for Credit Losses

12

(184,587,065)

(226,326,368)

Intangible Assets Amortization

-

(2,088,901)

Bank's Share in the Profits of Associates

7,384,700

3,758,246

Net Profit Before Tax

1,149,966,455

909,427,701

Income Tax Expense

13

(325,968,231)

(260,196,315)

Deferred Tax

33 & 13

(80,334,673)

8,519,220

Net Profit of The period

805,663,551

657,750,606

Minority Interest

438,648

158,393

Bank Shareholders

805,224,903

657,592,213

Earning per share

14

Basic

0.76

0.66

Diluted

0.75

0.65

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of March. 31, 2014

Amounts in EGP.

March 31, 2014

March 31, 2013

Cash Flow from Operating Activities

Profit Before Income Tax

1,149,966,455

909,427,701

Adjustments To Reconcile Net Profit

To Net Cash Provided by Operating Activities

Depreciation

51,490,748

41,568,698

Impairment Charges for credit losses

184,587,065

226,326,368

Other Provisions Charges

46,175,135

34,710,014

Trading Financial Investment Revaluation Differences

2,623,545

25,349,735

Intangible Assets Amortization

-

2,088,901

Available for sale and held to maturity investments exchange revaluation differences

(3,336,225)

(96,308,651)

Financial Investments Impairment Charge (Release)

422,796

(3,062,279)

Utilization of Other Provisions

(1,716,407)

(3,265,332)

Other Provisions No Longer Used

-

(141,520)

Exchange Differences of Other Provisions

444,461

9,997,924

Profits From Selling Property, Plant and Equipment

(72,757)

(491,491)

Profits From Selling Financial Investments

(3,973,106)

(1,951,749)

Share Based Payments

27,314,941

23,961,679

Investments in Associates Revaluation

(7,495,265)

(6,531,730)

Operating Profits Before Changes in Operating Assets and Liabilities

1,446,431,386

1,161,678,268

Net Decrease (Increase) in Assets and Liabilities

Due from banks

(814,219,816)

(1,187,126,786)

Treasury Bills & Other Governmental Notes

1,349,983,072

(2,179,687,466)

Trading Financial Assets

(1,096,699,170)

336,688,055

Derivative Financial Instruments

12,600,718

22,681,045

Loans and Advances to Banks and Customers

(831,843,197)

(916,840,550)

Other Assets

(659,050,939)

(364,050,710)

Due to Banks

(497,269,193)

(715,615,737)

Due to Customers

5,875,179,738

7,348,254,732

Income Tax obligations Paid

(352,315,748)

(242,162,433)

Other Liabilities

1,106,773,200

530,850,794

Net Cash Provided from Operating Activities

5,539,570,051

3,794,669,212

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of March. 31, 2014

March 31, 2014

March 31, 2013

Cash Flow From Investing Activities

Purchase of Subsidiary and Associates

(4,987,784)

-

Purchase of Property, Plant and Equipment

(67,672,602)

(116,687,001)

Redemption of Held-to-Maturity Financial Investments

11,696,640

8,075,590

Purchases of Available for Sale Financial Investments

(4,913,751,526)

(737,071,950)

Proceeds from Selling Available For Sale Financial Investments

1,494,780,053

1,534,760,298

Proceeds from Selling Real Estate Investments

5,639,686

-

Net Cash Generated from (Used in) Investing Activities

(3,474,295,533)

689,076,937

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

9,148,857

48,635,000

Dividend Paid

(1,253,337,987)

(309,308,736)

Capital Increase

79,298,740

-

Net Cash Generated from (Used in) Financing Activities

(1,164,890,390)

(260,673,736)

Net Increase (Decrease) in Cash and Cash Equivalent during the period

900,384,128

4,223,072,413

Beginning Balance of Cash and Cash Equivalent

11,888,626,680

5,665,914,467

Cash & Cash Equivalent Balance At the End of the Period

 12,789,010,808

9,888,986,880

Cash & Cash Equivalent Comprise

Cash and Balances with Central Bank

4,729,829,856

5,616,291,150

Due From Banks

10,333,594,869

9,682,102,706

Treasury Bills and Other Governmental Notes

22,775,550,088

13,751,041,752

Obligatory Reserve Balance With CBE

(3,225,921,408)

(3,306,582,184)

Due from Banks (Time Deposits) More than Three Months

(5,961,288,645)

(5,611,100,817)

Treasury Bills With Maturity More than Three months

(15,862,753,952)

(10,242,765,727)

Total Cash & Cash Equivalent

12,789,010,808

9,888,986,880

March. 31,

2013

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings (Losses)

(EGP)

Special Reserve

(EGP)

Reserve for A.F.S Investment Revaluation Diff.

(EGP)

Banking Risks Reserve

(EGP)

Net Profit of the period

(EGP)

Reserve for Employee Stock Ownership Plan ESOP

(EGP)

Total Shareholders' Equity

(EGP)

Minority Interest

(EGP)

Total

(EGP)

Beginning Balance

5,972,275,410

380,348,755

2,036,955,188

(568,853,097)

117,805,566

153,364,794

103,716,932

2,404,153,189

164,761,121

10,764,527,858

47,519,931

10,812,047,789

Transferred to Reserves

-

110,016,166

1,213,438,663

-

2,387,583

-

-

(1,325,842,412)

-

-

-

-

Transferred to Retained Earnings (Losses)

-

-

-

23,469,594

-

-

-

(23,469,594)

-

-

-

-

Dividend paid

-

-

-

(1,001,979)

-

-

-

(1,054,841,183)

-

(1,055,843,162)

-

(1,055,843,162)

Net Profit of the period

-

-

-

-

-

-

-

657,592,213

-

657,592,213

158,394

657,750,607

Change During the Year

-

-

-

(129,687)

-

-

-

-

-

(129,687)

1,248

(128,439)

Net Change at fair value of A.F.S Financial Investment

-

-

-

-

-

(208,227,794)

-

-

-

(208,227,794)

-

(208,227,794)

Transferred (From) to Bank Risk Reserve

-

-

-

-

-

-

(19,199,133)

19,199,133

-

-

-

-

Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

23,961,679

23,961,679

-

23,961,679

Balance at the End of the period

5,972,275,410

490,364,921

3,250,393,851

(546,515,169)

120,193,149

(54,863,000)

84,517,799

676,791,347

188,722,799

10,181,881,106

47,679,573

10,229,560,679

March. 31,

2014

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings (Losses)

(EGP)

Special Reserve

(EGP)

Reserve for A.F.S Investment Revaluation Diff.

(EGP)

Banking Risks Reserve

(EGP)

Net Profits of the period

(EGP)

Reserve for Employee Stock Ownership Plan ESOP

(EGP)

Total Shareholders' Equity

(EGP)

Minority Interest

(EGP)

Total

(EGP)

Beginning Balance

9,002,435,690

490,364,921

406,090,568

(546,531,497)

27,366,758

(720,479,005)

1,990,756

3,108,213,716

190,260,457

11,959,712,365

47,414,456

12,007,126,821

Capital Increase

79,298,740

-

-

-

-

-

-

-

-

79,298,740

-

79,298,740

Transferred to Reserves

-

130,719,237

1,444,405,339

-

740,692

-

-

(1,463,513,622)

(112,351,646)

-

-

-

Transferred to Retained Earnings (Losses)

-

-

-

391,362,107

-

-

-

(391,362,107)

-

-

-

-

Dividend paid

-

-

-

-

-

-

-

(1,253,337,987)

-

(1,253,337,987)

-

(1,253,337,987)

Net Profit of the period

-

-

-

-

-

-

-

805,224,903

-

805,224,903

438,648

805,663,551

Change in Ownership percentage

-

-

-

9,377

-

-

-

-

-

9,377

(9,377)

-

Net Change at fair value of A.F.S Financial Investment

-

-

-

-

-

262,696,752

-

-

-

262,696,752

-

262,696,752

Reserve for Employee Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

27,314,941

27,314,941

-

27,314,941

Balance at the End of the period

9,081,734,430

621,084,158

1,850,495,907

(155,160,013)

28,107,451

(457,782,253)

1,990,756

805,224,903

105,223,752

11,880,919,091

47,843,727

11,928,762,818