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

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

Separate Financial Statements

March 31st , 2018

FINANCIAL POSITION

As of March 31st, 2018

Amounts in EGP Thousands

Note

March 31st, 2018

December 31st , 2017

Assets

Cash and balances with central bank

15

26,182,232

14,663,289

Due from banks

16

42,306,844

45,319,766

Treasury bills and other governmental notes

17

45,937,458

54,478,202

Trading financial assets

18

7,170,208

7,295,197

Loans and advances to banks, net

19

188,312

1,313

Loans and advances to customers, net

20

95,115,591

88,427,103

Derivative financial instruments

21

38,274

40,001

Financial investments

- Available for sale

22

40,152,856

30,474,781

- Held to maturity

22

42,359,709

45,167,722

Investments in associates and subsidiaries

23

67,959

54,068

Other assets

24

8,293,920

6,886,807

Intangible assets

41

336,371

368,923

Deferred tax assets (Liabilities)

32

224,393

179,630

Property, plant and equipment

25

1,360,718

1,414,519

Total assets

309,734,845

294,771,321

Liabilities and equity

Liabilities

Due to banks

26

11,352,358

1,877,918

Due to customers

27

256,077,525

250,767,370

Derivative financial instruments

21

185,956

196,984

Current tax liabilities

896,492

2,778,973

Other liabilities

29

8,084,618

5,476,531

Other loans

28

3,687,828

3,674,736

Provisions

30

1,644,030

1,615,159

Total liabilities

281,928,807

266,387,671

Equity

Issued and paid up capital

31

11,618,011

11,618,011

Reserves

34

13,529,644

10,137,515

Reserve for employee stock ownership plan (ESOP)

596,636

489,334

Retained earnings*

2,076,436

6,138,790

Total equity

27,820,727

28,383,650

Total liabilities and equity

309,749,534

294,771,321

*Including net profit for the current period

INCOME STATEMENT

As of March 31st , 2018

Amounts in EGP Thousands

Note

March 31st , 2018

March 31st, 2017

Interest and similar income

7,936,316

6,376,570

Interest and similar expense

(4,676,400)

(3,593,103)

Net interest income

6

3,259,916

2,783,467

Fee and commission income

786,422

655,977

Fee and commission expense

(214,083)

(138,176)

Net fee and commission income

7

572,339

517,801

Dividend income

8

1,086

1,799

Net trading income

9

436,092

386,603

Profits (Losses) on financial investments

22

146,651

323,473

Administrative expenses

10

(957,074)

(746,457)

Other operating (expenses) income

11

(236,859)

(357,997)

Intangible assets amortization

41

(32,552)

(32,552)

Impairment charge for credit losses

12

(320,232)

(506,570)

Profit before income tax

2,869,367

2,369,567

Income tax expense

13

(896,492)

(598,735)

Deferred tax assets (Liabilities)

32 & 13

44,763

14,610

Net profit for the period

2,017,638

1,785,442

Earning per share

14

Basic

1.54

1.36

Diluted

1.51

1.34

CASH FLOW STATEMENT

As of March 31st , 2018

Amounts in EGP Thousands

March 31st , 2018

March 31st , 2017

Cash flow from operating activities

Profit before income tax

2,869,367

2,044,726

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

Fixed assets depreciation

94,089

84,592

Impairment charge for credit losses

320,232

506,570

Other provisions charges

26,048

88,440

Available for sale investments exchange revaluation differences

39,053

16,596

Intangible assets amortization

32,552

32,552

Financial investments impairment charge

(16)

(59,574)

Exchange differences in financial investments in subsidiary

209

(358)

Utilization of other provisions

245

(2,470)

Other provisions no longer used

-

3,523

Exchange differences of other provisions

2,578

53,608

(Losses) Profits from selling financial investments

(146,635)

77,104

Shares based payments

107,302

(11,940)

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

-

2,833,369

Net decrease (increase) in assets and liabilities

Due from banks

(29,978,825)

(6,369,580)

Treasury bills and other governmental notes

8,624,987

(1,278,538)

Trading financial assets

124,989

235,913

Derivative financial instruments

(5,392)

6,832

Loans and advances to banks and customers

(7,195,719)

(1,095,248)

Other assets

(1,232,913)

(715,275)

Non current assets held for sale

-

188,136

Due to banks

9,474,440

(410,928)

Due to customers

5,354,264

7,765,546

Income tax obligations paid

(2,778,973)

(2,017,034)

Other liabilities

2,608,087

1,624,858

Net cash (used in) provided from operating activities

(11,660,031)

768,051

Cash flow from investing activities

Payment for purchases of subsidiary and associates

(10,575)

-

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

(214,488)

(204,805)

Proceeds from redemption of held to maturity financial investments

2,808,013

7,111,107

Payment for purchases of held to maturity financial investments

-

(2,575,231)

Payment for purchases of available for sale financial investments

(10,484,844)

(153,395)

Proceeds from selling available for sale financial investments

303,449

480,343

Proceeds from selling non current assets held for sale

-

500,867

Net cash (used in) provided from investing activities

(7,598,445)

5,158,886

Cash flow from financing activities

Increase (decrease) in long term loans

13,092

(5,025)

Dividend paid

(2,143,177)

(773,274)

Net cash used in financing activities

(2,130,085)

(778,299)

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

(21,388,561)

5,148,638

Beginning balance of cash and cash equivalent

49,208,837

61,518,700

Cash and cash equivalent at the end of the period

27,820,276

66,667,338

Cash and cash equivalent comprise:

Cash and balances with central bank

26,182,232

15,101,163

Due from banks

42,306,844

65,449,817

Treasury bills and other governmental notes

45,937,458

39,956,034

Obligatory reserve balance with CBE

(20,421,756)

(10,066,100)

Due from banks with maturities more than three months

(20,155,641)

(4,307,610)

Treasury bills with maturity more than three months

(46,028,861)

(39,465,966)

Total cash and cash equivalent

27,820,276

66,667,338