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

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

Consolidated Financial Statements

September 30, 2010

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of Sep. 30, 2010

Amounts in EGP

Note

Sep. 30, 2010

Dec. 31,2009

(Restated)

Assets

Cash & Due From Central Bank

15

4,532,683,673

4,179,256,489

Due From Banks

16

7,691,416,292

7,946,147,786

Treasury Bills & Other Notes Discountable at CBE

17

8,416,562,813

13,198,960,913

Trading Financial Assets

18

1,118,322,611

491,138,956

Loans & Overdrafts for Banks ( Net after Provision)

19

137,153,805

200,765,433

Loans & Overdrafts for Customers ( Net after Provision)

20

33,766,969,059

27,242,306,869

Financial Derivatives

21

219,896,414

225,347,220

Financial Investments

Available for Sale

22

12,262,788,010

7,429,977,151

Held to Maturity

22

356,320,015

590,057,209

Financial Investments in associated companies

23

104,169,316

74,750,645

Brokers-Debit Balances

185,015,801

80,154,770

Reconciliation Accounts- Debit Balances

-

20,302,650

Real Estate Investments

24

36,495,664

42,485,364

Debt Balances and other Assets

25

953,512,451

963,058,418

Goodwill

170,397,143

200,467,228

Intangible Assets

522,871,116

573,471,546

Deferred Tax

24

38,918,006

37,232,586

Fixed Assets (Net)

25

726,177,097

749,602,993

Total Assets

71,239,669,286

64,245,484,253

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

27

750,373,798

458,145,229

Customer Deposits

28

60,498,098,503

54,648,654,522

Brokers-Credit Balance

163,926,269

212,593,347

Reconciliation Accounts-Credit Balances

24,753,115

-

Financial Derivatives

21

183,606,745

150,526,830

Credit Balances & Other Liabilities

30

1,108,852,836

1,162,019,568

Long Term Loans

29

135,064,615

93,237,042

Other Provisions

31

362,767,980

450,056,493

Total Liabilities

63,227,443,861

57,175,233,031

Shareholders' Equity

Issued and Paid In Capital

29

5,901,443,600

2,925,000,000

Reserves

31

720,408,400

2,379,311,040

Reserve for employee stock ownership plan (ESOP)

139,930,990

161,728,984

Retained Earning

(212,641,747)

(176,287,838)

Total Shareholders' Equity

6,549,141,242

5,289,752,186

Net Profit of the Period/year

1,416,186,038

1,734,891,714

Total Shareholders' Equity & Net Profit

7,965,327,281

7,024,643,900

Minority Interest

46,898,144

45,607,323

Total Liabilities & Shareholders' Equity

71,239,669,286

64,245,484,253

Contingent liabilities & commitments

Letters of Credit, Guarantees and other commitments

37

11,483,218,710

12,637,872,568

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Sep. 30, 2010

Amounts in EGP.

Note

Sep. 30, 2010

Sep. 30, 2009

(Restated)

Interest and Similar Income

6

3,309,623,888

3,050,532,517

Interest Expenses and Similar Charges

6

(1,665,924,377)

(1,541,234,046)

Net Interest Income

1,643,699,511

1,509,298,471

Fees & Commissions Income

7

688,909,563

578,000,313

Fees and Commissions Expense

7

(58,278,187)

(46,930,027)

Net Income from Fees and Commissions

630,631,376

531,070,286

Dividends Income

8

105,061,783

129,389,084

Net Trading Income

9

262,820,234

359,818,056

Profit from Financial Investments

22

174,443,538

62,867,723

Goodwill Amortization

(30,070,084)

-

Administrative Expenses

10

(975,922,760)

(882,826,291)

Other operating (Expenses) Income

11

(18,690,144)

(27,992)

Return (Losses) of impairment from loans

12

(28,702,347)

(139,568,922)

Intangible Assets Amortization

(50,600,430)

(50,600,430)

Bank's share in the profits of Associates

12,397,111

-

Net Profit before Tax

1,725,067,788

1,519,419,985

Income Tax

13

(307,676,349)

(257,245,945)

Deferred Tax

13&33

85,420

13,191,868

Net Profit After Tax

1,417,476,859

1,275,365,908

Minority Interest

1,290,821

4,573,280

Bank Shareholders

1,416,186,038

1,270,792,628

Earning per share

Basic

14

1.95

1.91

Diluted

14

1.92

1.87

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of Sep. 30 2010

Amounts in EGP.

Sep.30, 2010

Sep. 30, 2009

(Restated)

Cash Flow from Operating Activities

Net Income Before Tax

1,725,067,788

1,519,419,985

Adjustments To Reconcile Net Income

To Net Cash Provided by operating Activities

Depreciation

137,775,086

146,004,606

Provisions (Formed during the period)

85,537,000

146,581,885

Trading Financial Investment Evaluation Differences

(70,759,769)

4,743,400

Intangible Assets Amortization

(50,600,430)

(50,600,430)

Goodwill Amortization

(30,070,084)

-

Impairment of Assets

(32,544,969)

4,690,062

Utilization of Provisions (Except Provision for Doubtful Debts)

(1,556,850)

(6,542,060)

Provisions no longer used

(108,465,097)

(3,499,887)

FCY Revaluation Differences of Provision Balances (except Doubtful Debts)

4,657,616

(259,087)

Profits From Selling Fixed Assets

(2,073,253)

15,344,069

Profits From Selling financial Investments

(126,694,967)

(3,416,690)

FCY Revaluation Difference of Long Term Loans

176,557

434,463

Share Based Payments

56,766,651

60,117,462

Operating Profits Before Changes in Operating Assets and Liabilities

1,587,215,375

1,833,017,778

Net Decrease (Increase) in Assets

Due from banks

135,222,889

(585,876,600)

Treasury Bills & Other Notes Discountable at CBE

1,047,055,612

2,216,935,318

Trading Financial Assets

(556,423,886)

(262,298,962)

Financial Derivatives (Net)

38,530,721

(40,675,900)

Loans & Overdrafts

(6,528,511,716)

(930,946,199)

Net Increase (Decrease) In Liabilities

Debit Balances and Other Assets

(54,207,075)

(178,439,710)

Due to Banks

292,228,569

517,259,211

Customer Deposits

5,849,443,981

2,046,087,756

Credit Balances & Other Liabilities

(315,947,759)

(321,279,901)

Net Cash Provided from Operating Activities

1,494,606,710

4,293,782,791

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of Sep. 30 2010

Sep. 30, 2010

Sep. 30, 2009

(Restated)

Cash Flow From Investing Activities

(Payments) Incomings from (Purchase) selling associated co.

(29,418,671)

55,302,976

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

(48,522,895)

(151,786,904)

Redemption of Held-to-Maturity Financial Investments

249,656,598

82,086,393

Held to Maturity financial Investment Purchases

(15,919,404)

(22,033)

Purchase of Available for Sale Financial Investments

(4,563,382,432)

(5,040,119,863)

Real Estate Investments

5,989,700

-

Net Cash (Used in) Provided from Investment Activities

(4,401,597,104)

(5,054,539,431)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

41,651,016

(12,863,095)

Dividends Paid

(661,806,331)

(478,236,553)

Capital Increase

25,721,800

-

Net Cash (Used in) Financing Activities

(594,433,515)

(491,099,648)

Net cash & cash equivalent changes

(3,501,423,909)

(1,251,856,288)

Beginning Balance of cash and cash equivalent

10,230,779,568

8,778,740,569

Cash & Cash equivalent Balance At the End of the period

6,729,355,659

7,526,884,281

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

4,532,683,673

4,174,723,405

Due From Banks

7,691,416,292

6,670,737,666

Treasury Bills & other governmental notes

8,416,562,813

9,806,172,890

Due from Banks (Time Deposits) More than Three Months

(7,374,237,446)

(6,314,873,872)

Treasury Bills With maturity More than Three months

(6,537,069,672)

(6,809,875,808)

Total Cash & Cash Equivalent

6,729,355,660

7,526,884,281

Sep. 30, 2009

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Intangible Assets Value for Bank share before acquisition

Retained Earning

(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

(EGP)

Total Shareholders Equity

(EGP)

Minority Interest

(EGP)

Total

(EGP)

Beginning Balance

2,925,000,000

432,851,511

407,547,602

302,794,421

87,845,690

185,993,785

(20,985,045)

-

1,370,592,742

86,727,903

5,778,368,609

46,280,877

5,824,649,486

Effect of adjusting Accounting Standards

-

-

-

-

-

20,536,766

-

-

-

-

20,536,766

-

20,536,766

Beginning Balance after adjustments

2,925,000,000

432,851,511

407,547,602

302,794,421

87,845,690

206,530,551

(20,985,045)

-

1,370,592,742

86,727,903

5,798,905,375

46,280,877

5,845,186,252

Transferred to reserves

-

80,755,023

1,056,108,882

-

-

-

-

-

(1,136,863,905)

-

-

-

-

Transferred to Retained earning

-

-

-

-

(244,507,717)

-

-

-

244,507,717

-

-

-

-

Dividends paid

-

-

-

-

-

-

-

-

(478,236,553)

-

(478,236,553)

-

(478,236,553)

Net profits of the period

-

-

-

-

-

-

-

-

1,270,792,628

-

1,270,792,628

4,573,280

1,275,365,908

Change during the period

-

-

-

-

(4,270,361)

-

-

-

-

-

(4,270,361)

3,935,351

(335,010)

Addition from financial Investment revaluation

-

-

-

-

-

-

55,281,526

-

-

-

55,281,526

-

55,281,526

Reserve for employee stock ownership plan ESOP

-

-

-

-

-

-

-

-

-

60,117,462

60,117,462

-

60,117,462

Balance at the end of the period

2,925,000,000

513,606,534

1,463,656,484

302,794,421

(160,932,388)

206,530,551

34,296,481

-

1,270,792,628

146,845,365

6,702,590,077

54,789,508

6,757,379,585

Sep. 30,2010

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Intangible Assets Value for Bank share before acquisition

Retained Earnings

(EGP)

Special Reserves

(EGP)

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

(EGP)

Banking Risk reserve

(EGP)

Profits of the period

Reserve for Employee Stock ownership plan ESOP

Total Shareholders Equity

Minority Interest (EGP)

Total

(EGP)

Beginning Balance

2,925,000,000

513,606,534

1,463,504,300

302,794,421

(176,287,838)

206,530,551

(107,124,766)

26,652,790

1,708,238,924

161,728,984

7,024,643,899

45,607,323

7,070,251,222

Capital Increase

2,976,443,600

(476,326,032)

(2,474,395,768)

-

-

-

-

-

-

-

25,721,800

-

25,721,800

Transfer to Reserves

-

87,847,835

1,010,739,284

-

-

-

-

-

(1,098,587,119)

-

-

-

-

Transfer to Retained Earnings

-

-

-

-

(37,980,544)

(22,173,982)

-

-

52,154,526

-

(8,000,000)

-

(8,000,000)

Dividends paid

-

-

-

-

-

-

-

-

(661,806,331)

-

(661,806,331)

-

(661,806,331)

Net Profits of the Period

-

-

-

-

-

-

-

-

1,416,186,038

-

1,416,186,038

1,290,821

1,417,476,859

Change during the period

-

-

-

-

1,626,635

-

-

-

-

-

1,626,635

-

1,626,635

Addition from Financial Investments Revaluation

-

-

-

-

-

-

110,188,587

-

-

-

110,188,587

-

110,188,587

Transferred to Bank Risk Reserve

-

-

-

-

-

-

-

113,960,161

(113,960,161)

-

-

-

-

Reserve for employee stock ownership plan ESOP

-

-

78,564,646

-

-

-

-

-

-

(21,797,994)

56,766,651

-

56,766,651

Balance at the end of the period

5,901,443,600

125,128,337

78,412,462

302,794,421

(212,641,747)

184,356,569

3,063,821

140,612,951

1,302,225,877

139,930,990

7,965,327,280

46,898,144

8,012,225,424