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

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

Consolidated Financial Statements

September 30, 2012

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of September 30, 2012

Amounts in EGP

Note

Sep. 30, 2012

Dec. 31, 2011

Assets

Cash & Balances with Central Bank

15

3,414,510,382

7,492,064,510

Due From Banks

16

8,851,001,009

8,528,229,519

Treasury Bills & Other Governmental Notes

17

9,139,014,588

9,260,842,183

Trading Financial Assets

18

1,838,742,061

675,325,450

Loans & Advances to Banks

19

987,397,719

1,395,594,609

Loans & Advances to Customers

20

40,142,585,729

39,669,785,864

Derivative Financial Instruments

21

145,153,442

146,544,656

Financial Investments

Available for Sale

22

21,058,077,980

15,421,546,277

Held to Maturity

22

4,222,446,777

39,159,520

Investments in Associates

23

138,641,109

106,676,167

Brokers-Debit Balances

150,477,111

24,185,525

Reconciliation Accounts- Debit Balances

35,207,289

42,507,905

Investment Property

24

10,024,686

12,774,686

Other Assets

25

2,467,526,528

1,534,819,491

Goodwill

41

7,819,883

120,280,337

Intangible Assets

41

97,363,181

309,353,104

Deferred Tax

33

141,320,435

123,977,698

Property, Plant and Equipment

26

658,164,116

630,508,089

Total Assets

93,505,474,025

85,534,175,590

Liabilities and Equity

Liabilities

Due to Banks

27

2,085,096,618

3,340,794,517

Due to Customers

28

78,427,912,179

71,467,935,259

Brokers-Credit Balance

204,967,326

111,851,855

Derivative Financial Instruments

21

129,801,534

114,287,990

Other Liabilities

30

1,903,524,337

1,342,736,040

Long Term Loans

29

62,424,153

99,333,376

Other Provisions

31

289,381,202

270,801,909

Total Liabilities

83,103,107,349

76,747,740,946

Equity

Issued and Paid In Capital

32

5,972,275,410

5,934,562,990

Reserves

32

3,074,866,835

1,387,842,060

Reserve for Employee Stock Ownership Plan (ESOP)

151,728,837

137,354,418

Retained Earnings

(482,986,800)

(334,419,692)

Total Equity

8,715,884,282

7,125,339,776

Net Profit of the Period/Year After Tax

1,638,574,471

1,614,738,322

Total Equity And Net Profit For Period/Year

10,354,458,753

8,740,078,098

Minority Interest

47,907,293

46,356,546

Total Minority Interest and Equity

10,402,366,676

8,786,434,644

Total Liabilities, Equity and Minority Interest

93,505,474,025

85,534,175,590

Contingent Liabilities and Commitments

Letters of Credit, Guarantees and Other Commitments

37

13,726,458,703

12,559,553,516

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of September 30, 2012

Amounts in EGP.

Note

Sep. 30, 2012

Sep. 30, 2011

Interest and Similar Income

5,709,924,331

3,981,585,481

Interest and Similar Expenses

(2,878,602,209)

(2,029,138,866)

Net Interest Income

6

2,831,322,122

1,952,446,615

Fees & Commissions Income

737,746,221

665,242,495

Fees and Commissions Expense

(76,765,133)

(64,114,837)

Net Income from Fees and Commissions

7

660,981,088

601,127,658

Dividend Income

8

22,704,086

58,982,479

Net Trading Income

9

418,171,996

252,241,996

Profit from Financial Investments

22

(29,687,230)

38,160,205

Goodwill Amortization

(2,606,628)

(30,070,084)

Administrative Expenses

10

(1,124,726,722)

(1,052,722,830)

Other operating (Expenses) Income

11

(74,848,809)

(54,147,544)

Impairment Charge for Credit Losses

12

(406,580,325)

(312,228,115)

Intangible Assets Amortization

(19,049,318)

(50,600,430)

Bank's Share in the Profits of Associates

1,107,855

(6,856,381)

Net Profit Before Tax

2,276,788,115

1,396,333,569

Income Tax Expense

13

(654,358,417)

(324,757,923)

Deferred Tax

33 & 13

17,342,735

(6,370,762)

Net Profit of The Year

1,639,772,433

1,065,204,884

Minority Interest

1,197,962

108,271

Bank Shareholders

1,638,574,471

1,065,096,613

Earning per share

14

Basic

2.73

1.65

Diluted

2.68

1.62

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of September 30, 2012

Amounts in EGP.

Sep. 30, 2012

Sep. 30, 2011

Cash Flow from Operating Activities

Net Profit Before Tax

2,276,788,115

1,396,333,569

Adjustments To Reconcile Net Profit

To Net Cash Provided by Operating Activities

Depreciation

127,504,186

144,057,127

Impairment Charges for credit losses

406,836,170

313,855,735

Other Provisions Charges

90,779,892

1,589,044

Trading Financial Investment Revaluation Differences

(114,094,428)

34,406,764

Intangible Assets Amortization

19,049,318

50,600,430

Goodwill Amortization

2,606,628

30,070,084

Available for sale and held to maturity investments exchange revaluation differences

(13,580,979)

(45,509,879)

Financial Investments Impairment Charge (Release)

7,844,587

(373,389)

Utilization of Other Provisions

(73,032,184)

(5,397,639)

Other Provisions No Longer Used

(531,054)

(40,635,496)

Exchange Differences of Other Provisions

1,106,792

3,926,263

Profits From Selling Property, Plant and Equipment

(3,801,360)

(2,664,190)

Profits From Selling Financial Investments

2,289,009

(93,073,621)

Profits from Selling Associates

-

(1,873,813)

Exchange Differences of Long Term Loans

42,050

459,526

Shares Based Payments

66,036,546

62,114,443

Investments in Associates Revaluation

-

6,354,684

Real Estate Investments Impairment Charges

-

361,200

Operating Profits Before Changes in Operating Assets and Liabilities

2,795,843,288

1,854,600,842

Net Decrease (Increase) in Assets and Liabilities

Due from banks

(233,540,939)

(4,989,972,029)

Treasury Bills & Other Governmental Notes

(43,416,593)

121,265,205

Trading Financial Assets

(1,049,322,183)

840,449,628

Derivative Financial Instruments

16,904,759

(25,035,261)

Loans and Advances to Banks and Customers

(471,183,299)

(3,100,295,504)

Other Assets

(1,035,637,518)

134,350,001

Due to Banks

(1,255,697,899)

192,787,727

Due to Customers

6,959,976,920

6,406,909,484

Other Liabilities

(454,640)

(686,370,502)

Net Cash Provided from Operating Activities

5,683,471,896

748,689,591

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of September 30, 2012

Sep. 30, 2012

Sep. 30, 2011

Cash Flow From Investing Activities

Purchase of Subsidiary and Associates

(31,964,942)

(11,000,000)

Purchases of Property, Plant and Equipment

(167,419,342)

(90,709,389)

Redemption of Held-to-Maturity Financial Investments

-

230,225,164

Purchases of Held to Maturity Financial Investment

(4,183,287,258)

(5,000,000)

Purchases of Available for Sale Financial Investments

(9,826,460,193)

(3,287,981,324)

Proceeds from Selling Available For Sale Financial Investments

5,174,787,444

1,794,737,265

Proceeds from Selling Real Estate Investments

2,750,000

-

Net Cash Generated from (Used in) Investing Activities

(9,031,594,291)

(1,369,728,284)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

(36,951,273)

(33,657,304)

Dividend Paid

(806,206,518)

(844,414,580)

Capital Increase

37,712,420

33,119,390

Net Cash Generated from (Used in) Financing Activities

(805,445,371)

(844,952,494)

Net Increase (Decrease) in Cash and Cash Equivalent

(4,153,567,765)

(1,465,991,187)

Beginning Balance of Cash and Cash Equivalent

8,207,517,133

8,058,126,497

Cash & Cash Equivalent Balance At the End of the Period

4,053,949,368

6,592,135,310

Cash & Cash Equivalent Comprise

Cash and Balances with Central Bank

3,414,510,382

4,585,395,495

Due From Banks

8,851,001,009

11,677,631,859

Treasury Bills and Other Governmental Notes

9,139,014,588

8,690,616,464

Obligatory Reserve Balance With CBE

(3,067,529,100)

(2,782,468,103)

Due from Banks (Time Deposits) More than Three Months

(5,418,263,433)

(8,608,192,530)

Treasury Bills With Maturity More than Three months

(8,864,784,078)

(6,970,847,875)

Total Cash & Cash Equivalent

4,053,949,368

6,592,135,310

September 30,

2011

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Intangible Assets Value for Bank Share before Acquisition

Retained Earnings

(EGP)

Special Reserve

(EGP)

Reserve for A.F.S Investment Revaluation Diff.

(EGP)

Banking Risks 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

5,901,443,660

125,128,337

78,412,462

302,794,421

(203,604,610)

184,356,569

1,722,491

156,992,515

1,875,205,780

149,520,858

8,571,972,423

46,965,639

8,613,938,062

Capital Increase

33,119,390

-

-

-

-

-

-

-

-

-

33,119,390

-

33,119,390

Transferred to Reserves

-

106,216,559

1,155,710,315

-

-

1,574,746

-

-

(1,173,875,293)

(89,626,327)

-

-

-

Transferred to Retained Earnings (losses)

-

-

-

-

(122,852,795)

-

-

-

122,852,795

-

-

-

-

Dividend paid

-

-

-

-

(20,231,298)

-

-

-

(824,183,282)

-

(844,414,580)

-

(844,414,580)

Net Profit of the year

-

-

-

-

-

-

-

-

1,065,096,613

-

1,065,096,613

108,271

1,065,204,884

Change During the period

-

-

-

-

(2,835,759)

-

-

-

-

-

(2,835,759)

(100,039)

(2,935,798)

Addition from Financial Investment revaluation

-

-

-

-

-

-

(350,155,749)

-

-

-

(350,155,749)

-

(350,155,749)

Transferred to Bank Risk Reserve

-

-

-

-

-

-

-

76,166,450

(76,166,450)

-

-

-

-

Reserve for Employee Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

-

62,114,443

62,114,443

-

62,114,443

The effect of changing accounting policies

-

-

-

-

15,105,920

-

-

-

(15,105,920)

-

-

-

-

Balance at the end of the period

5,934,562,990

231,344,896

1,234,122,777

302,794,421

(334,418,542)

185,931,315

(348,433,258)

233,158,965

973,824,243

122,008,974

8,534,896,781

46,973,871

8,581,870,652

September 30,

2012

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Intangible Assets Value for Bank Share before Acquisition (EGP)

Retained Earnings(losses)

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Investments 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

5,934,562,990

231,344,896

1,234,122,776

302,794,421

(334,419,692)

185,931,315

(723,343,863)

281,689,619

1,490,041,219

137,354,418

8,740,078,098

46,356,546

8,786,434,644

Capital Increase

37,712,420

-

-

-

-

-

-

-

-

-

37,712,420

-

37,712,420

Transferred to Reserves

-

87,306,567

794,689,187

-

-

2,716,747

-

-

(833,050,374)

(51,662,127)

-

-

-

Transferred to Retained Earnings

-

-

-

-

(134,109,753)

-

-

-

134,109,753

-

-

-

-

Dividend paid

-

-

-

-

(15,105,920)

-

-

-

(791,100,598)

-

(806,206,518)

-

(806,206,518)

Net Profit of the Year

-

-

-

-

-

-

-

-

1,028,139,869

-

1,028,139,869

655,973

1,028,795,842

Transfer from Special Reserve

-

61,697,292

8,143,225

-

1,001,979

(70,842,496)

-

-

-

-

-

-

-

Change during the period

-

-

-

-

(353,414)

-

-

-

-

-

(353,414)

353,414

-

Addition from Financial investment revaluation

-

-

-

-

-

-

981,411,571

-

-

-

981,411,571

-

981,411,571

Transferred to Bank Risk Reserve

-

-

-

-

-

-

-

(181,708,448)

181,708,448

-

-

-

-

Reserve for Employee Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

-

66,036,546

66,036,546

-

66,036,546

Settlement of Intangible Asset value for Bank Share Before Acquisition

-

-

-

(302,794,421)

-

-

-

-

-

-

(302,794,421)

-

(302,794,421)

Balance at the end of the period

5,972,275,410

380,348,755

2,036,955,188

-

(482,986,800)

117,805,566

258,067,708

99,981,171

1,820,282,919

151,728,837

10,354,458,753

47,907,923

10,402,366,676