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

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

Unconsolidated Financial Statements

March 31, 2010

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of Mar. 31, 2010

Amounts in L.E.

Note

31-Mar-2010

31-Dec-2009

Assets

Cash & Due From Central Bank

15

4,098,439,328

4,179,212,739

Due From Banks

16

7,909,044,105

7,785,042,557

Treasury Bills & Other Notes Discountable at CBE

17

13,571,018,384

13,191,665,954

Trading Financial Assets

18

386,607,420

380,620,682

Loans & Overdrafts for Banks (Net after provisions)

19

191,260,819

200,765,433

Loans & Overdrafts for Customers (Net after provisions)

20

29,337,106,271

27,242,306,896

Financial Derivatives

21

158,429,339

225,347,220

Financial Investments

Available for Sale

22

8,961,113,259

7,420,529,606

Held to Maturity Financial Investments

22

547,554,450

579,926,673

Financial Investments in Subsidiary and associated companies

23

1,138,316,682

1,138,277,487

Real Estate investments

24

42,485,364

42,485,364

Debit Balances and Other Assets

25

1,173,221,010

918,003,883

Deferred Tax

33

46,125,577

39,799,318

Fixed Assets (Net)

26

750,334,191

718,847,964

Total Assets

68,311,119,199

64,062,831,776

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

27

1,061,560,353

458,145,229

Customer Deposits

28

58,314,988,875

54,842,629,843

Financial Derivatives

21

107,471,850

150,526,830

Credit Balances & Other Liabilities

30

1,372,560,936

1,128,964,486

Long Term Loans

29

89,230,051

93,237,042

Other Provisions

31

405,290,617

443,728,578

Total Liabilities

61,351,102,682

57,117,232,007

Shareholders' Equity

Issued & Paid- in Capital

32

2,925,000,000

2,925,000,000

Reserves

32

3,264,397,454

2,077,203,969

Reserve for employee stock ownership plan (ESOP)

180,651,201

161,728,984

Retained Earning

20,231,298

(1,942,684)

Total Shareholders' Equity

6,390,279,952

5,161,990,269

Net Profit of the Period

569,736,565

1,783,609,500

Total Shareholders' Equity & Net Profit

6,960,016,517

6,945,599,768

Total Liabilities & Shareholders' Equity

68,311,119,199

64,062,831,776

Contingent Liabilities & commitments

Letters of Credit, Guarantees and other commitments

37

11,757,641,390

12,637,872,568

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Mar. 31 2010

Amounts in LE.

Note

Mar. 31, 2010

Mar. 31, 2009

Interest and Similar Income

6

1,034,922,676

1,047,983,025

Interest Expense and Similar Charges

6

(515,815,154)

(530,723,818)

Net Interest Income

519,107,522

517,259,207

Fees & Commissions Income

7

204,371,718

149,349,876

Fees and Commissions Expense

7

(17,257,198)

(16,029,590)

Net Income from Fees and Commissions

187,114,520

133,320,286

Dividends Income

8

84,821,549

99,707,405

Net Trading Income

9

80,673,822

146,813,800

(Losses) Profit from Financial Investments

22

58,397,638

(2,354,217)

Administrative Expenses

10

(289,004,834)

(253,063,490)

Other operating (Expenses) Income

11

22,733,232

(52,133,285)

Return (Losses) of impairment of loans

12

(1,911,080)

(11,765,527)

Net Profit before Tax

661,928,369

577,784,180

Income Tax

13

(98,518,063)

(85,340,806)

Deferred Tax

13&33

6,326,259

6,137,381

Net Profit After Tax

569,736,565

498,580,755

Earning per share

Basic

14

1.59

1.51

Diluted

14

1.55

1.47

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of Mar. 31 2010

Amounts in LE.

Mar. 31, 2010

Mar. 31, 2009

Cash Flow From Operating Activities

Net Income Before Tax

661,928,369

577,784,180

Adjustments To Reconcile Net Income

To Net Cash Provided by operating Activities

Depreciation

45,303,560

46,334,096

Provisions (Formed during the period)

2,082,736

37,088,123

Trading Financial Investment Evaluation Differences

(14,065,167)

(9,294,939)

Impairment of Assets

(1,296,453)

(2,329,265)

Utilization of Provision (except Provisions for Doubtful Debts)

(1,361,150)

(3,962,272)

Provisions no longer used

(37,554,170)

-

FCY Revaluation Differences of Provision Balances except Doubtful Debt

409,559

2,899,477

Losses From Selling of Fixed Assets

(1,833,430)

(609,735)

Losses From Selling of financial Investments

(62,495,543)

(7,567,855)

Losses from selling an investment in subsidiary

-

-

FCY Revaluation Difference of Long Term Loans

(886,352)

(560,550)

Share Based Payments

18,922,217

20,419,257

Operating Profits Before Changes in Operating Assets and Liabilities

609,154,174

660,200,517

Net Decrease (Increase) in Assets

Due from banks

24,633,442

(2,425,305,063)

Treasury Bills & Other Governmental Notes

1,454,263,087

193,665,319

Trading Financial Assets

8,015,429

(251,344,208)

Financial Derivatives (Net)

23,862,901

(55,017,097)

Loans & Overdrafts

(2,087,309,696)

(434,661,139)

Net Increase (Decrease) In Liabilities

Debit Balances and Other Assets

(249,236,101)

(176,950,933)

Due to Banks

603,415,124

1,906,408,400

Customer Deposits

3,472,359,032

2,362,070,467

Credit Balances & Other Liabilities

145,078,386

(349,001,794)

Net Cash Provided from Operating Activities

4,004,235,779

1,783,966,335

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of Mar. 31 2010

Mar. 31, 2010

Mar. 31, 2009

Cash Flow From Investment Activities

Investments in subsidiaries & associated companies

(39,195)

(245,505)

Purchase of Fixed Assets, premises and Fitting-out of Branches

(80,937,383)

(58,043,594)

Redemption of Held-to-Maturity Financial Investments

33,318,731

33,520,654

Held to Maturity financial Investments Purchases

(946,509)

(9,181,620)

Available for Sale Financial Investments

(1,392,664,099)

(2,756,011,964)

Real Estate investments

-

3,839,052

Net Cash (Used in) Provided from Investment Activities

(1,441,268,455)

(2,786,122,981)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

(3,120,639)

7,041,206

Dividends Paid

(658,369,589)

(478,236,553)

Net Cash (Used in) provided from Financing Activities

(661,490,228)

(471,195,347)

Net cash & cash equivalent changes

1,901,477,096

(1,473,351,994)

Beginning Balance of cash and cash equivalent

10,062,335,630

8,622,040,072

Cash & Cash equivalent Balance At the End of the period

11,963,812,726

7,148,688,078

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

4,098,439,328

5,118,066,563

Due From Banks

7,909,044,105

8,291,704,629

Treasury Bills & other governmental notes

13,571,018,384

10,681,933,650

Due from Banks (time deposits)

(7,484,826,893)

(8,142,259,335)

Treasury Bills with Maturity More than Three Months

(6,129,862,198)

(8,800,757,429)

Total Cash & Cash Equivalent

11,963,812,726

7,148,688,078

2009

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Inv. Revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Profits of the Year

(EGP)

Reserve for Employee Stock ownership plan ESOP

Total

(EGP)

Beginning Balance

2,925,000,000

432,851,511

407,547,602

(1,942,684)

185,993,785

(20,312,399)

-

1,615,100,458

86,727,903

5,630,966,176

Effect of adjusting accounting standards

-

-

-

-

20,536,766

-

-

-

-

20,536,766

Beginning Balance after adjustments

2,925,000,000

432,851,511

407,547,602

(1,942,684)

206,530,551

(20,312,399)

-

1,615,100,458

86,727,903

5,651,502,942

Transfer to Reserves

-

80,755,023

1,056,108,882

-

-

-

-

(1,136,836,905)

-

-

Dividends Paid

-

-

-

-

-

-

-

(478,236,556)

-

(478,236,556)

Net Profit of the year

-

-

-

-

-

-

-

1,783,609,500

-

1,783,609,500

Addition from financial investment revaluation

-

-

-

-

-

(86,277,201)

-

-

-

(86,277,201)

Effect of adjusting accounting standards

-

-

-

-

-

-

-

-

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

75,001,081

75,001,081

Capital Increase

-

-

-

-

-

-

-

-

-

-

Usage part of reserve

-

-

-

-

-

-

-

-

-

-

Balance at the end of the year

2,925,000,000

513,606,534

1,463,656,484

(1,942,684)

206,530,551

(106,589,600)

-

1,783,609,500

161,728,984

6,945,599,768

2010

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Inv. Revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Profits of the period

(EGP)

Reserve for Employee Stock ownership plan ESOP

Total

(EGP)

Beginning Balance

2,925,000,000

513,606,534

1,463,656,484

(1,942,684)

206,530,551

(106,589,600)

26,652,790

1,756,956,710

161,728,984

6,945,599,768

Transfer to Reserves

-

87,847,835

1,010,739,284

-

-

-

-

(1,098,587,119)

-

-

Dividends Paid

-

-

-

-

-

-

-

(658,369,589)

-

(658,369,589)

Net Profit of the period

-

-

-

-

-

-

-

569,736,565

-

569,736,565

Transfer to retained earnings

-

-

-

22,173,982

(22,173,982)

-

-

-

-

-

Addition from financial investment revaluation

-

-

-

-

-

84,127,558

-

-

-

84,127,558

Effect of adjusting accounting standards

-

-

-

-

-

-

44,378,643

(44,378,643)

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

18,922,217

18,922,217

Balance at the end of period

2,925,000,000

601,454,369

2,474,395,768

20,231,298

184,356,569

(22,462,042)

71,031,433

525,357,923

180,651,201

6,960,016,519