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

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

Unconsolidated Financial Statements

September 30, 2009

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION 

As of September 30 2009

Amounts in EGP

Note

30-Sep-2009

31-Dec-2008

Assets

Cash & Due From Central Bank

5

4,173,466,534

4,473,011,942

Due From Banks

6

6,489,758,105

6,411,397,744

Treasury Bills & Other Governmental Notes

7

9,783,643,420

12,449,007,406

Trading Financial Assets

8

790,218,581

497,554,487

Loans & Overdrafts 

12&11

27,182,965,732

26,330,327,878

Financial Derivatives

13

392,541,362

704,890,792

Financial Investments:

Available for Sale 

9

7,803,503,357

2,762,232,984

Held to Maturity 

9

599,198,914

681,263,274

Financial Investments in Subsidiary and associated 

companies

14

1,138,311,222

1,138,332,672

Debit Balances and Other Assets

16

1,014,070,928

942,621,482

Deferred Tax

28

36,882,694

21,840,568

Fixed Assets (Net)

17

744,375,704

715,251,587

Total Assets

60,148,936,553

57,127,732,816

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

18

746,253,433

213,470,012

Customer Deposits

19

50,947,438,726

48,938,109,663

Financial Derivatives

13

283,889,414

636,914,744

Credit Balances & Other Liabilities

20

1,088,034,589

1,235,780,102

Long Term Loans

21

96,845,301

109,273,933

Other Provisions

22

362,678,480

363,218,186

Total Liabilities

53,525,139,943

51,496,766,640

Shareholders' Equity

Issued & Paid- in Capital

23

2,925,000,000

2,925,000,000

Reserves

23

2,196,921,519

1,006,080,499

Reserve for employee stock ownership plan (ESOP)

146,845,365

86,727,903

Retained Earnings

(1,942,684)

(1,942,684)

Total Shareholders' Equity

5,266,824,200

4,015,865,718

Net Profit of the Period/ Year

1,356,972,410

1,615,100,458

Total Shareholders' Equity & Net Profit

6,623,796,610

5,630,966,176

Total Liabilities & Shareholders' Equity 

60,148,936,553

57,127,732,816

Contingent Liabilities & commitments 

Letters of Credit, Guarantees and Other Commitments

24

12,129,864,544

13,290,994,705

INCOME STATEMENT

As of September 30 2009

Sep. 30, 2009

Sep. 30, 2008

(Restated)

Amounts in EGP

Note

Interest and similar income

25

3,045,676,359

2,618,840,929

Interest and similar expense

25

(1,539,561,730)

(1,447,572,006)

Net Interest Income

1,506,114,629

1,171,268,923

Fees & Commissions Income

482,795,216

522,510,157

Fees & Commissions Expense

(49,245,907)

(38,935,409)

Net Income from Fees & Commissions

433,549,309

483,574,748

Dividends Income

124,483,365

127,332,469

Net Trading Income

26

348,214,943

355,494,768

Provisions

12&22

(88,273,820)

(199,380,131)

Profits from Financial Investments

9

62,344,371

122,511,815

Administrative Expenses

(787,045,957)

(642,814,015)

Other Operating (Expenses) Income

10

(431,001)

109,931,639

Net Profit Before Tax

1,598,955,839

1,527,920,216

Income Tax

29

(257,025,555)

(177,896,316)

Deferred Tax

28&29

15,042,126

(29,176,368)

Net Profit After Tax

1,356,972,410

1,320,847,532

Earnings Per Share

Basic 

30

4.11

4.00

Diluted

30

4.02

3.96

CASH FLOW STATEMENT 1a

As of September 30 2009

Sep. 30, 2009

Sep. 30, 2008

(Restated)

Amounts in EGP

Cash Flow From Operating Activities

Net Income Before Tax

1,598,955,839

1,527,920,216

Adjustments To Reconcile Net Income

To Net Cash Provided by operating Activities

Depreciation

139,198,324

100,024,494

Provisions (Formed during the period)

88,273,819

199,780,767

Trading Financial Investment Evaluation Differences

4,743,400

28,630,787

Impairment of Assets

4,690,062

39,349,989.66

Utilization of Provision (Other than Provision for Doubtful Debts)

(5,887,041)

(10,539,941)

Provisions no longer used

-

(94,706,704)

FCY Revaluation Differences of Provision Balances (Except Doubtful Debts)

(259,087)

(478,731)

Profits From Selling Fixed Assets

(15,344,069)

(5,008,077)

Profits From Selling financial Investments

(3,416,690)

(160,187,303)

Profit from Selling an investment in subsidiary

-

(50,258,991)

FCY Revaluation Difference of Long Term Loans

434,463

(623,325)

Share Based Payments

60,117,462

43,908,011

Operating Profit Before Changes in Operating Assets and Liabilities

1,871,506,482

1,617,811,193

Net Decrease (Increase) in Assets

Due from banks

(597,919,600)

3,295,057,442

Treasury Bills & Other Governmental Notes 

2,202,353,652

(1,683,978,012)

Trading Financial Assets

(297,407,494)

(58,815,273)

Financial Derivatives (Net)

(40,675,900)

(29,022,253)

Loans & Overdrafts

(930,946,199)

(6,446,213,476)

Net Increase (Decrease) In Liabilities

Debit Balances & Other Assets

(121,775,850)

(551,458,400)

Due to Banks

532,783,421

787,563,625

Customer Deposits

2,009,329,063

8,378,723,465

Credit Balances & Other Liabilities

(404,771,069)

(75,160,573)

Net Cash Provided from Operating Activities

4,222,476,506

5,234,507,738

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of September 30 2009

Sep. 30, 2009

Sep. 30, 2008

Cash Flow From Investing Activities

Sales of subsidiaries & associated companies

53,998,565

(749,581,256)

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

(107,011,020)

(120,421,710)

Redemption of Held-to-Maturity Financial Investments

82,086,393

132,528,735

Held to Maturity Financial Investment Purchases

(22,033)

-

Available for Sale Financial Investments

(5,042,543,745)

(1,550,668,015)

Net Cash (Used in) Provided from Investing Activities

(5,013,491,840)

(2,288,142,246)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

(12,863,095)

(52,181,207)

Dividends Paid

(478,236,553)

(336,727,470)

-

Net Cash (Used in) Financing Activities

(491,099,648)

(388,908,677)

Net cash & cash equivalent changes

(1,282,114,982)

2,557,456,815

Beginning Balance of cash and cash equivalent

8,622,040,072

6,779,152,548

Cash & Cash equivalent Balance At the End of the period

7,339,925,090

9,336,609,363

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

4,173,466,533

7,286,466,976

Due From Banks

6,489,758,105

10,442,378,497

Treasury Bills & other Governmental Notes

9,783,643,420

4,901,473,704

Due from Banks (time deposits)

(6,314,873,872)

(9,969,161,092)

Treasury Bills with Maturity More than Three Months

(6,792,069,096)

(3,324,548,722)

Total Cash & Cash Equivalent

7,339,925,090

9,336,609,363

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY

As of September 30 2009

2008

Capital 

Legal Reserves

General Reserves

Retained Earnings*

Special Reserves

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

Profits of the year

Reserve for Employee Stock ownership plan ESOP

Total

Beginning Balance

1,950,000,000

432,851,511

1,382,547,602

11,628,342

185,993,785

60,903,531

0

29,159,584

4,053,084,355

Derivatives revaluations settlement*

0

0

0

(13,571,026)

0

0

0

0

(13,571,026)

Capital Increase*

975,000,000

0

(975,000,000)

0

0

0

0

0

0

Net Profit of the year

0

0

0

0

0

0

1,615,100,458

0

1,615,100,458

Usage part of reserve

0

0

0

0

0

(81,215,930)

0

0

(81,215,930)

Reserve for employee stock ownership plan ESOP**

0

0

0

0

0

0

0

57,568,319

57,568,319

Ending 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

2009

Capital 

Legal Reserves

General Reserves*

Retained Earnings*

Special Reserves

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

Profits for the period

Reserve for Employee Stock ownership plan ESOP

Total

Balance at beginning of the period

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

Transfer to Reserves

0

80,755,023

1,056,108,882

0

0

0

(1,136,863,905)

0

0

Dividends Paid

0

0

0

0

0

0

(478,236,553)

0

(478,236,553)

Net Profits of the Period

0

0

0

0

0

0

1,356,972,410

0

1,356,972,410

Addition from financial Investment Revaluation

0

0

0

0

0

53,977,115

0

0

53,977,115

Reserve for employee stock ownership plan ESOP**

0

0

0

0

0

0

0

60,117,462

60,117,462

Balance at the end of the period

2,925,000,000

513,606,534

1,463,656,484

(1,942,684)

185,993,785

33,664,716

1,356,972,410

146,845,365

6,623,796,610