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

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

Financial Statements

March 31, 2008

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION 

As of Mar. 31, 2008

Amounts in L.E.

Note

31-Mar-2008

31-Dec-2007

Assets

Cash & Due From Central Bank

4

6,434,125,884

4,953,205,430

Due From Banks

5

19,893,355,779

13,782,062,043

Treasury Bills & Other Notes Discountable at CBE

6

2,979,216,629

2,948,674,319

Trading Financial Investments

7

561,440,978

588,473,270

Available for Sale Financial Investments

8

2,279,762,437

2,382,992,007

Loans & Overdrafts (Net of Provision for Doubtful Debts)

9&10

23,377,274,868

20,375,525,133

Held to Maturity Financial Investments

11

298,645,419

443,894,166

Financial Investments in Subsidiary and associated companies

12

334,681,007

365,723,936

Debit Balances and Other Assets

14

1,166,729,633

1,020,565,573

Deferred Tax

27

17,999,937

52,819,475

Fixed Assets (Net)

15

599,260,017

607,104,820

Total Assets

57,942,492,588

47,521,040,172

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

16

3,948,600,927

2,377,082,435

Customer Deposits

17

48,006,846,116

39,514,539,992

Dividends & Profit Sharing

0

336,727,470

Credit Balances & Other Liabilities

18

999,223,738

773,862,137

Long Term Loans

19

169,099,542

161,356,219

Other Provisions

20

420,995,274

395,332,813

Total Liabilities

53,544,765,597

43,558,901,066

Shareholders' Equity

Issued & Paid- in Capital

1,950,000,000

1,950,000,000

Reserves

1,981,848,733

1,982,979,522

Reserve for employee stock ownership plan (ESOP)

30

42,952,065

29,159,584

Total Shareholders' Equity

21

3,974,800,798

3,962,139,106

Net Profit of the Period

422,926,193

-

Total Shareholders' Equity & Net Profit

4,397,726,991

3,962,139,106

Total Liabilities & Shareholders' Equity 

57,942,492,588

47,521,040,172

Contingent & commitments Liabilities

22

13,515,386,479

11,529,010,709

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Mar. 31 2008

Amounts in LE.

Note

Mar. 31, 2008

Mar. 31, 2007

Interest Received from clients & Banks

782,451,928

544,401,368

Interest Received from Treasury Bills & Bonds

83,566,270

144,035,811

Interest Paid to Clients & Banks

(450,229,478)

(433,369,129)

Net Interest Income

415,788,720

255,068,050

Banking Fees & Commissions

192,857,683

138,369,473

Share Dividends

57,035,788

19,643,970

Foreign Exchange Profit

23

69,889,396

21,424,699

Profit from Selling Financial Investment

7,926,142

28,856,813

Profit from dispose part of subsidiaries

24

50,258,991

-

Trading financial Investment Revaluation Differences

6,314,685

(1,855,885)

Provisions no longer used

25

94,395,171

-

Other Income

6,736,898

7,182,906

Total Fee Income

485,414,754

213,621,976

Net Operating Income

901,203,474

468,690,026

Provisions

(163,354,750)

(81,750,000)

Other financial Investment Revaluation Differences

26

(39,596,737)

31,939,236

General & Administrative Expenses & Depreciation

(187,424,811)

(124,710,399)

Other Expenses

(27,734,229)

(18,295,197)

(418,110,527)

(192,816,360)

Net Operating Profits

483,092,947

275,873,666

Non-Operating income

29,523

-

Net Profit before Tax

483,122,470

275,873,666

Income Tax

28

(25,376,739)

(23,184,893)

Deferred Tax

28&27

(34,819,538)

817,667

Net Profit After Tax

422,926,193

253,506,440

Earnings per share

29

1.92

1.15

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of Mar. 31 2008

Amounts in LE.

Mar. 31, 2008

Mar. 31, 2007

Cash Flow From Operating Activities

Net Income Before Tax

483,122,470

275,873,666

Adjustments To Reconcile Net Income

Total Net Cash Provided by operating

Depreciation

32,180,440

28,136,532

Provisions (Additions during the period)

163,354,750

81,750,000

Trading Financial Investment Evaluation

(6,314,685)

1,855,885

Other Financial Investment Evaluation

39,596,737

(31,939,236)

Utilization of Provision (Other than Provision for Doubtful Debts)

(12,298)

-

Provisions no longer used

(94,395,171)

-

FCY Revaluation Differences of Provision Balances except Doubtful Debt

(619,241)

(112,232)

Gains From Selling of Fixed Assets

(29,523)

-

Profit From Selling of financial Investments

(7,926,142)

(28,856,813)

Profits from dispose part of a subsidiary

(50,258,991)

FCY Revaluation Difference of Long Term Loans

1,320,333

199,581

Reserve for employee stock ownership plan (ESOP)

13,792,481

-

Operating Profit Before Changes in Operating Assets and Liabilities

573,811,160

326,907,383

Net Decrease (Increase) in Assets

Due from banks

(6,430,858,152)

(613,996,981)

Treasury Bills & Other Notes Discountable at CBE

(185,393,667)

1,671,725,483

Trading Financial Investments

33,346,977

39,899,091

Available for Sale Financial Investments

121,817,966

914,817,980

Loans & Overdrafts

(3,193,523,897)

(1,382,120,527)

Debit Balances & Other Assets

(63,563,260)

(159,930,563)

Net Increase (Decrease) In Liabilities

Due to Banks

1,571,518,492

(855,456,302)

Customer Deposits

8,492,306,124

482,241,349

Credit Balances & Other Liabilities

294,380,033

121,622,720

Net Cash Provided from Operating Activities

1,213,841,776

545,709,633

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of Mar. 31 2008

Mar. 31, 2008

Mar. 31, 2007

Cash Flow From Investment Activities

Sales (Purchases) of subsidiaries & associated companies

29,912,140

(137,844)

Prepaid for Fixed Assets, premises and Fitting-out of Branches

(52,193,502)

(94,812,917)

Redemption of Held-to-Maturity Financial Investments

145,248,747

267,114,852

Net Cash (Used in) Investment Activities

122,967,385

172,164,091

Cash Flow From Financing Activities

Increase in Long Term Loans

6,422,990

(2,729,747)

Dividends Paid

(336,727,470)

(287,235,147)

Net Cash (Used in) provided from Financing Activities

(330,304,480)

(289,964,894)

Net cash & cash equivalent changes

1,006,504,681

427,908,830

Beginning Balance of cash and cash equivalent

6,779,152,548

4,023,396,001

Cash & Cash equivalent Balance At the End of the period

7,785,657,229

4,451,304,831

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

6,434,125,884

4,168,574,347

Due From Banks

19,893,355,779

6,050,326,978

Treasury Bills & other notes discountable at the CBE

2,979,216,629

2,385,578,737

Due from Banks (time deposits)

(19,695,076,686)

(5,917,511,814)

Treasury Bills with Maturity More than Three Months

(1,825,964,377)

(2,235,663,417)

Total Cash & Cash Equivalent

7,785,657,229

4,451,304,831

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY

As of Mar. 31 2008

2007

Capital 

Legal Reserves

General Reserves

Special Reserves

Reserves for Inv. Revaluation Diff.

Profits for the period

Reserve for Employee Stock ownership plan ESOP

Total

Beginning Balance

1,950,000,000

371,230,872

548,482,934

162,709,903

7,458,634

0

3,039,882,343

Transfer to reserves

0

61,620,639

834,064,668

0

0

(895,685,307)

0

0

Distributed profits

0

0

0

0

0

(336,727,470)

0

(336,727,470)

Net Profit for period

0

0

0

0

0

1,232,412,777

0

1,232,412,777

Usage part of reserve

0

0

0

0

(2,588,128)

0

0

(2,588,128)

Reserve for employee stock ownership plan ESOP

0

0

0

0

0

0

29,159,584

29,159,584

Ending Balance

1,950,000,000

432,851,511

1,382,547,602

162,709,903

4,870,506

0

29,159,584

3,962,139,106

2008

Capital 

Legal Reserves

General Reserves

Special Reserves

Reserves for Inv. Revaluation Diff.

Profits for the period

Reserve for Employee Stock ownership plan ESOP

Total

Beginning Balance

1,950,000,000

432,851,511

1,382,547,602

162,709,903

4,870,506

0

29,159,584

3,962,139,106

Net Profit for period

0

0

0

0

0

422,926,193

0

422,926,193

Usage part of reserve

0

0

0

0

(1,130,789)

0

0

(1,130,789)

Reserve for employee stock ownership plan ESOP

0

0

0

0

0

0

13,792,481

13,792,481

Ending Balance

1,950,000,000

432,851,511

1,382,547,602

162,709,903

3,739,717

422,926,193

42,952,065

4,397,726,991