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

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

Separate Financial Statements

March 31st, 2017

FINANCIAL POSITION

As of March 31st, 2017

Amounts in EGP Thousands

Note

March 31, 2017

December 31, 2016

Assets

Cash and balances with central bank

15

15,101,163

10,522,040

Due from banks

16

65,449,817

58,011,034

Treasury bills and other governmental notes

17

39,956,034

39,177,184

Trading financial assets

18

2,209,221

2,445,134

Loans and advances to banks, net

19

69,384

159,651

Loans and advances to customers, net

20

86,670,859

85,991,914

Derivative financial instruments

21

95,242

269,269

Financial investments

- Available for sale

22

5,139,805

5,447,291

- Held to maturity

22

49,389,060

53,924,936

Investments in associates

23

10,500

10,500

Non current assets held for sale

42

239,875

428,011

Other assets

24

6,241,609

5,446,025

Intangible assets

41

466,579

499,131

Deferred tax assets (Liabilities)

32

195,918

181,308

Property, plant and equipment

25

1,402,583

1,338,629

Total assets

272,637,649

263,852,057

Liabilities and equity

Liabilities

Due to banks

26

2,598,068

3,008,996

Due to customers

27

239,730,858

231,965,312

Derivative financial instruments

21

163,896

331,091

Dividends Payable

576,933

-

Current tax liabilities

598,735

2,017,034

Other liabilities

29

5,204,188

3,579,330

Long term loans

28

155,218

160,243

Other provisions

30

1,603,192

1,514,057

Total liabilities

250,631,088

242,576,063

Equity

Issued and paid up capital

31

11,538,660

11,538,660

Reserves

34

8,261,895

3,443,319

Reserve for employee stock ownership plan (ESOP)

420,564

343,460

Total equity

20,221,119

15,325,439

Net profit for the period/year

1,785,442

5,950,555

Total equity and net profit for the period/ year

22,006,561

21,275,994

Total liabilities and equity

272,637,649

263,852,057

INCOME STATEMENT

As of March 31, 2017

Amounts in EGP Thousands

Note

March 31, 2017

March 31, 2016

Interest and similar income

6,376,570

4,178,859

Interest and similar expense

(3,593,103)

(1,910,574)

Net interest income

6

2,783,467

2,268,285

Fee and commission income

647,861

463,058

Fee and commission expense

(130,060)

(83,981)

Net fee and commission income

7

517,801

379,077

Dividend income

8

1,799

492

Net trading income

9

386,603

107,642

Profits on financial investments

22

323,473

91,474

Administrative expenses

10

(746,457)

(601,548)

Other operating (expenses) income

11

(357,997)

(161,400)

Goodwill impairment

41

-

(10,854)

Intangible assets amortization

41

(32,552)

(32,552)

Impairment charge for credit losses

12

(506,570)

(287,613)

Profit before income tax

2,369,567

1,753,003

Income tax expense

13

(598,735)

(482,726)

Deferred tax assets (Liabilities)

32 & 13

14,610

58,435

Net profit for the year

1,785,442

1,328,712

Earnings per share

14

Basic

1.37

1.02

Diluted

1.35

1.00

CASH FLOW STATEMENT

As of March 31, 2016

Amounts in EGP Thousands

March 31, 2017

March 31, 2016

Cash flow from operating activities

Profit before income tax

2,369,567

1,753,003

Adjustments to reconcile net profit to net cash provided by operating activities

Fixed assets depreciation

84,592

64,951

Impairment charge for credit losses

506,570

287,613

Other provisions charges

88,440

23,622

Trading financial investments revaluation differences

(49,057)

195,000

Available for sale and held to maturity investments exchange revaluation differences

16,596

(263,567)

Goodwill impairment

-

10,854

Intangible assets amortization

32,552

32,552

Financial investments impairment charge

(59,574)

19,481

Utilization of other provisions

(358)

(470)

Other provisions no longer used

(2,470)

(33,132)

Exchange differences of other provisions

3,523

62,934

Profits from selling property, plant and equipment

-

(164)

Profits from selling financial investments

53,608

(16,259)

Profits (losses) from selling associates

-

(84,934)

Shares based payments

77,104

48,661

Impairment (Released) charges of non current assets held for sale

(312,731)

-

Operating profits before changes in operating assets and liabilities

2,808,362

2,100,145

Net decrease (increase) in assets and liabilities

Due from banks

(6,369,580)

(5,624,857)

Treasury bills and other governmental notes

(1,278,538)

3,942,273

Trading financial assets

284,970

686,027

Derivative financial instruments

6,832

(87,486)

Loans and advances to banks and customers

(1,095,248)

(3,899,476)

Other assets

(739,325)

425,985

Non Current Assets Held for Sale

188,136

-

Due to banks

(410,928)

(971,815)

Due to customers

7,765,546

14,118,360

Income tax obligations paid

(2,017,034)

(1,949,694)

Other liabilities

1,624,858

1,592,521

Net cash provided from operating activities

768,051

10,331,983

Cash flow from investing activities

Proceeds from selling subsidiary and associates

-

159,989

Payment for purchases of property, plant, equipment and branches constructions

(204,805)

(174,558)

Proceeds from redemption of held to maturity financial investments

7,111,107

1,311

Payment for purchases of held to maturity financial investments

(2,575,231)

-

Payment for purchases of available for sale financial investments

(153,395)

(129,845)

Proceeds from selling available for sale financial investments

480,343

2,332,077

Proceeds from selling non current assets held for sale

500,867

-

Net cash used in investing activities

5,158,886

2,188,974

Cash flow from financing activities

Increase (decrease) in long term loans

(5,025)

(7,094)

Dividend paid

(773,274)

(1,463,450)

Net cash used in financing activities

(778,299)

(1,470,544)

Net increase (decrease) in cash and cash equivalent during the period

5,148,638

11,050,413

Beginning balance of cash and cash equivalent

61,518,700

22,433,117

Cash and cash equivalent at the end of the period

66,667,338

33,483,530

Cash and cash equivalent comprise:

Cash and balances with central bank

15,101,163

16,409,342

Due from banks

65,449,817

31,110,134

Treasury bills and other governmental notes

39,956,034

18,194,950

Obligatory reserve balance with CBE

(10,066,100)

(13,893,058)

Due from banks with maturities more than three months

(4,307,610)

(149,940)

Treasury bills with maturity more than three months

(39,465,966)

(18,187,898)

Total cash and cash equivalent

66,667,338

33,483,530