Last checked at 12 Nov 2009 07:00
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| Commercial International Bank (Egypt) S.A.E. | |||||
| Unconsolidated Financial Statements | |||||
| September 30, 2009 | |||||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | |||||
| FINANCIAL POSITION |
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| 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 |
* Note No. (23)
** Note No. (31)