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

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