Last checked at 13 Nov 2008 07:00
| | |||||
| Commercial International Bank (Egypt) S.A.E. | |||||
| Financial Statements | |||||
| September 30, 2008 | |||||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | |||||
| FINANCIAL POSITION |
|
|
|
| |
| As of September 30, 2008 | |||||
| Amounts in L.E. | Note | Sep. 30, 2008 | Dec. 31, 2007 | ||
| Assets | |||||
| Cash & Due From Central Bank | 4 | 7,286,466,976 | 4,953,205,430 | ||
| Due From Banks | 5 | 10,442,378,497 | 13,782,062,043 | ||
| Treasury Bills & Other Notes Discountable at CBE | 6 | 4,901,473,704 | 2,948,674,319 | ||
| Trading Financial Investments | 7 | 618,657,756 | 588,473,270 | ||
| Available for Sale Financial Investments | 8 | 4,001,690,618 | 2,279,926,299 | ||
| Loans & Overdrafts (Net of Provision for Doubtful Debts) | 9&10 | 26,724,842,392 | 20,478,590,841 | ||
| Held to maturity Financial Investments | 11 | 311,365,431 | 443,894,166 | ||
| Financial Investments in Subsidiary and associated companies | 12 | 1,115,305,192 | 365,723,936 | ||
| Debit Balances and Other Assets | 14 | 1,617,822,020 | 1,020,565,573 | ||
| Deferred Tax | 27 | 25,837,690 | 52,819,475 | ||
| Fixed Assets (Net) | 15 | 620,411,241 | 607,104,820 | ||
| Total Assets | 57,666,251,517 | 47,521,040,172 | |||
| Liabilities & Shareholders' Equity | |||||
| Liabilities | |||||
| Due to Banks | 16 | 3,164,646,060 | 2,377,082,435 | ||
| Customer Deposits | 17 | 47,893,263,457 | 39,514,539,992 | ||
| Dividends & Profit Sharing | - | 336,727,470 | |||
| Credit Balances & Other Liabilities | 18 | 796,344,678 | 773,862,137 | ||
| Long Term Loans | 19 | 108,551,687 | 161,356,219 | ||
| Other Provisions | 20 | 417,832,158 | 395,332,813 | ||
| Total Liabilities | 52,380,638,040 | 43,558,901,066 | |||
| Shareholders' Equity | |||||
| Issued & Paid- in Capital | 2,925,000,000 | 1,950,000,000 | |||
| Reserves | 1,005,272,248 | 1,982,979,522 | |||
| Reserve for employee stock ownership plan (ESOP) | 30 | 73,067,595 | 29,159,584 | ||
| Total Shareholders' Equity | 21 | 4,003,339,843 | 3,962,139,106 | ||
| Net Profit of the Period | 1,282,273,634 | - | |||
| Total Shareholders' Equity & Net Profit | 5,285,613,477 | 3,962,139,106 | |||
| Total Liabilities & Shareholders' Equity | 57,666,251,517 | 47,521,040,172 | |||
| Contingent & commitments Liabilities | 22 | 14,448,858,339 | 13,630,909,953 | ||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | |||||
| INCOME STATEMENT | |||||
| For the Period from Jan. 1 2008 to Sep. 30 2008 | |||||
| Amounts in LE. | Note | From Jan. 1, 2008 To Sep. 30, 2008 | From Jan. 1, 2007 To Sep. 30, 2007 | ||
| Interest Received from clients & Banks | 2,373,851,381 | 1,878,451,694 | |||
| Interest Received from Treasury Bills & Bonds | 330,920,648 | 308,605,257 | |||
| Interest Paid to Clients & Banks | (1,424,549,731) | (1,338,606,099) | |||
| Net Interest Income | 1,280,222,298 | 848,450,852 | |||
| Banking Fees & Commissions | 521,909,787 | 420,373,860 | |||
| Share Dividends | 129,249,394 | 62,860,246 | |||
| Foreign Exchange Income | 23 | 226,783,483 | 114,055,188 | ||
| Profit from Selling Financial Investment | 160,187,302 | 77,045,256 | |||
| Profits from Dispose part of Subsidiaries | 24 | 50,258,991 | 148,393,558 | ||
| Trading Investment Revaluation Differences | (28,630,787) | 1,708,699 | |||
| Provisions no Longer Used | 25 | 94,706,704 | - | ||
| Other Income | 42,154,360 | 24,209,777 | |||
| Total Fee Income | 1,196,419,234 | 848,646,584 | |||
| Net Operating Income | 2,476,641,532 | 1,697,097,436 | |||
| Provisions | (199,780,767) | (209,250,000) | |||
| Other Investment Revaluation Differences | 26 | (71,371,444) | 7,108,252 | ||
| General & Administration Expenses & Depreciation | (642,413,380) | (422,323,931) | |||
| Other Expenses | (83,119,038) | (57,393,317) | |||
| Net Operating Profits | 1,479,956,903 | 1,015,238,440 | |||
| Non-Operating income | 5,008,077 | 305,200 | |||
| Net Profit Before Tax | 1,484,964,980 | 1,015,543,640 | |||
| Income Tax | 28 | (175,709,561) | (122,331,979) | ||
| Deferred Tax | 28&27 | (26,981,785) | 12,262,789 | ||
| Net Profit After Tax | 1,282,273,634 | 905,474,450 | |||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | |||||
| CASH FLOW STATEMENT 1a | |||||
| For the Period from Jan. 1 2008 to Sep. 30 2008 | |||||
| Amounts in LE. | Sep. 30, 2008 | Sep. 30, 2007 | |||
| Cash Flow From Operating Activities | |||||
| Net Income Before Tax | 1,484,964,980 | 1,015,543,640 | |||
| Adjustments To Reconcile Net Income | |||||
| Total Net Cash Provided by operating | |||||
| Depreciation | 100,024,494 | 89,444,937 | |||
| Provisions (Additions during the period) | 199,780,767 | 209,250,000 | |||
| Trading Financial Investment Evaluation Diff. | 28,630,787 | (1,708,699) | |||
| Other Financial Investment Evaluation Diff. | 71,371,444 | (7,108,252) | |||
| Utilization of Provision (Other than Provision for Doubtful Debts) | (10,539,941) | - | |||
| Provisions No Longer Used | (94,706,704) | - | |||
| Difference in revaluation of FCY Provision Balances | (478,731) | (1,217,811) | |||
| Gains From Selling of Fixed Assets | (5,008,077) | (305,200) | |||
| Profit From Selling of Investments | (160,187,302) | (77,045,256) | |||
| Profits from Dispose part of a Subsidiary | (50,258,991) | (148,393,558) | |||
| FCY Revaluation Difference of Long Term Loans | (623,325) | 1,364,449 | |||
| Reserve for Employee Stock Ownership Plan (ESOP) | 43,908,011 | 21,869,688 | |||
| Operating Profit Before Changes in Operating Assets and Liabilities | 1,606,877,412 | 1,101,693,938 | |||
| Net Decrease (Increase) in Assets | |||||
| Due from banks | 3,295,057,442 | (5,281,256,609) | |||
| Treasury Bills & Other Notes Discountable at CBE | (1,683,978,012) | 2,640,133,947 | |||
| Trading Financial Investments | (58,815,273) | 351,885,571 | |||
| Available for Sale Financial Investments | (1,582,689,470) | 1,065,987,121 | |||
| Loans & Overdrafts | (6,446,213,476) | (2,952,088,393) | |||
| Debit Balances & Other Assets | (551,458,400) | (358,746,053) | |||
| Net Increase (Decrease) In Liabilities | |||||
| Due to Banks | 787,563,625 | 693,377,971 | |||
| Customer Deposits | 8,378,723,465 | 5,130,741,052 | |||
| Credit Balances & Other Liabilities | (58,520,316) | (154,516,574) | |||
| Net Cash Provided from Operating Activities | 3,686,546,997 | 2,237,211,971 | |||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | |||||
| CASH FLOW STATEMENT 1b | |||||
| For the Period from Jan. 1 2008 to Sep. 30 2008 | Sep. 30, 2008 | Sep. 30, 2007 | |||
| Cash Flow From Investment Activities | |||||
| Purchase of Subsidiaries | (749,581,256) | 82,502,885 | |||
| Prepaid for Fixed Assets, premises and Fitting-out of Branches | (120,421,710) | (225,024,852) | |||
| Purchase of Held-to-Maturity Investments | 132,528,735 | 294,989,624 | |||
| Net Cash (Used in) Investment Activities | (737,474,231) | 152,467,657 | |||
| Cash Flow From Financing Activities | |||||
| Decrease in Long Term Loans | (52,181,207) | 48,711,306 | |||
| Dividends Paid | (336,727,470) | (287,235,147) | |||
| Reverse for financial investment revaluation Diff | (2,707,274) | (1,643,782) | |||
| Net Cash (Used in) provided from Financing Activities | (391,615,951) | (240,167,623) | |||
| Net cash & cash equivalent | 2,557,456,815 | 2,149,512,005 | |||
| Beginning Balance of cash and cash equivalent | 6,779,152,548 | 4,023,396,002 | |||
| Cash & Cash equivalent Balance At the End of the period | 9,336,609,363 | 6,172,908,007 | |||
| Cash & Cash Equivalent are Represented as Follows | |||||
| Cash and Due from Central Bank | 7,286,466,976 | 5,111,767,158 | |||
| Due From Banks | 10,442,378,497 | 10,835,411,071 | |||
| Treasury Bills | 4,901,473,704 | 2,077,756,172 | |||
| Due From Banks (Time Deposits) | (9,969,161,092) | (10,584,771,442) | |||
| Treasury Bills with Maturity More than Three Months | (3,324,548,722) | (1,267,254,952) | |||
| Total Cash & Cash Equivalent | 9,336,609,363 | 6,172,908,007 | |||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | |
| STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY | |
| As of September 30, 2008 | |
| 2007 | Capital | Legal Reserves | General Reserves | Special Reserves | Reserves for Inv. Rev. | Profits of the year | Reserve for ESOP | Total |
| Beginning Balance | 1,950,000,000 | 371,230,872 | 548,482,934 | 162,709,903 | 7,458,634 | 0 | 0 | 3,039,882,343 |
| Transfer to Reserves | 0 | 61,620,639 | 834,064,668 | 0 | 0 | (895,685,307) | 0 | 0 |
| Distributed Profits | 0 | 0 | 0 | 0 | 0 | (336,727,470) | 0 | (336,727,470) |
| Net Profit | 0 | 0 | 0 | 0 | 0 | 1,232,412,777 | 0 | 1,232,412,777 |
| Usage part of reserve | 0 | 0 | 0 | 0 | (2,588,128) | 0 | 0 | (2,588,128) |
| Reserve for ESOP | 0 | 0 | 0 | 0 | 0 | 29,159,584 | 29,159,584 | |
| Ending Balance | 1,950,000,000 | 432,851,511 | 1,382,547,602 | 162,709,903 | 4,870,506 | (0) | 29,159,584 | 3,962,139,106 |
| 2008 | Capital | Legal Reserves | General Reserves | Special Reserves | Reserves for Inv. Rev. | Profits of the year | Reserve for ESOP | Total |
| Beginning Balance | 1,950,000,000 | 432,851,511 | 1,382,547,602 | 162,709,903 | 4,870,506 | 0 | 29,159,584 | 3,962,139,106 |
| Net Profits of the Period | 0 | 0 | 0 | 0 | (0) | 1,282,273,634 | 0 | 1,282,273,634 |
| Capital Increase | 975,000,000 | 0 | (975,000,000) | 0 | 0 | 0 | 0 | 0 |
| Usage Part of Reserve | 0 | 0 | 0 | 0 | (2,707,274) | 0 | 0 | (2,707,274) |
| Reserve for ESOP | 0 | 0 | 0 | 0 | 0 | 0 | 43,908,011 | 43,908,011 |
| Ending Balance | 2,925,000,000 | 432,851,511 | 407,547,602 | 162,709,903 | 2,163,232 | 1,282,273,634 | 73,067,595 | 5,285,613,477 |