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

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

Consolidated Financial Statements

September 30, 2011

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of Sep. 30, 2011

Amounts in EGP

Note

30-Sep-2011

31-Dec-2010

Assets

Cash & Due From Central Bank

15

4,585,395,495

5,675,241,791

Due From Banks

16

11,677,631,859

7,054,682,826

Treasury Bills & Other Governmental Notes

17

8,690,616,464

8,821,003,566

Trading Financial Assets

18

710,891,443

1,585,747,835

Loans & Overdrafts for Banks ( Net after Provision)

19

179,935,995

125,833,038

Loans & Overdrafts for Customers ( Net after Provision)

20

37,781,044,706

35,048,707,894

Financial Derivatives

21

158,821,014

139,263,948

Financial Investments:

Available for Sale

22

14,892,642,450

13,613,839,805

Held to Maturity

22

79,141,517

299,250,313

Financial Investments in Associated Co.

23

101,473,049

96,827,733

Brokers-Debit Balances

70,289,681

180,368,320

Reconciliation Accounts- Debit Balances

-

8,185,474

Real Estate Investments

24

28,334,464

28,695,664

Debit Balances and other Assets

25

1,405,285,359

1,384,657,474

Goodwill

130,303,698

160,373,782

Intangible Assets

41

326,219,914

376,820,344

Deferred Tax

33

111,232,073

117,602,829

Fixed Assets (Net)

26

620,933,666

708,330,987

Total Assets

81,550,192,847

75,425,433,625

Liabilities & Shareholders' Equity:-

Liabilities

Due to Banks

27

1,515,067,636

1,322,279,909

Customer Deposits

28

69,771,086,762

63,364,177,278

Brokers-Credit Balance

87,075,495

393,321,036

Reconciliation Accounts-Credit Balances

24,244,409

-

Financial Derivatives

21

108,072,845

113,551,039

Credit Balances & Other Liabilities

30

1,088,487,691

1,165,163,338

Long Term Loans

29

95,915,648

129,113,426

Other Provisions

31

278,371,709

318,889,536

Total Liabilities

72,968,322,195

66,806,495,563

Shareholders' Equity

Issued and Paid In Capital

32

5,934,562,990

5,901,443,600

Reserves

32

1,762,752,666

719,067,070

Reserve for employee stock ownership plan (ESOP)

122,008,974

149,520,858

Retained Earning

(349,524,462)

(203,604,610)

Total Shareholders' Equity

7,469,800,168

6,566,426,917

Net Profit of the Period/year after tax

1,065,096,613

2,005,545,505

Total Shareholders' Equity & Net Profit for Period/year

8,534,896,781

8,571,972,423

Minority Interest

46,973,871

46,965,639

Total Minority Interest and Shareholders' Equity

8,581,870,652

8,618,938,062

Total Liabilities, Shareholders' Equity and Minority Interest

81,550,192,847

75,425,433,625

Contingent Liabilities and Commitments

Letters of Credit, Guarantees and Other Commitments

37

12,007,271,308

11,879,698,713

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Sep. 30 2011

Amounts in EGP.

Note

Sep. 30, 2011

Sep. 30, 2010

Interest and Similar Income

6

3,981,585,481

3,309,623,888

Interest Expenses and Similar Charges

6

(2,029,138,866)

(1,665,924,377)

Net Interest Income

1,952,446,615

1,643,699,511

Fees & Commissions Income

7

665,242,495

688,909,563

Fees & Commissions Expense

7

(64,114,837)

(58,278,187)

Net Fees and Commissions Income

601,127,658

630,631,376

Dividends Income

8

58,982,479

105,061,783

Net Trading Income

9

207,032,699

262,820,234

Profit from Financial Investments

22

78,553,717

174,443,538

Goodwill Amortization

(30,070,084)

(30,070,084)

Administrative Expenses

10

(1,052,722,830)

(975,922,760)

Other operating (Expenses) Income

11

(49,331,758)

(18,690,144)

Losses of impairment from loans

12

(312,228,115)

28,702,347

Intangible Assets Amortization

41

(50,600,430)

(50,600,430)

Bank's share in the profits of Associates

(6,856,381)

12,397,11

Net Profit before Tax

1,396,333,569

1,725,067,788

Income Tax

13

(324,757,923)

(307,676,349)

Deferred Tax

13 & 33

(6,370,762)

85,420

Net Profit After Tax

1,065,204,884

1,417,476,859

Minority Interest

108,271

1,290,821

Bank Shareholders

1,065,096,613

1,416,186,038

Earning per share

Basic

14

1.47

1.94

Diluted

14

1.44

1.90

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT

As of Sep. 30 2011

Amounts in EGP

Sep. 30, 2011

Sep. 30, 2010

Cash Flow from Operating Activities:-

Net Income Before Tax

1,396,333,569

1,725,067,788

Adjustments To Reconcile Net Income

To Net Cash Provided by operating Activities

Depreciation

144,057,127

137,775,086

Provisions (Formed During the Period)

315,444,779

85,537,000

Trading Financial Investment Evaluation Differences

34,406,764

(70,759,769)

Intangible Assets Amortization

50,600,430

50,600,430

Goodwill Amortization

30,070,084

30,070,084

Financial Investments Impairment

(45,883,268)

(32,544,969)

Utilization of Provisions (Except Provision for Doubtful Debts)

(5,397,639)

(1,556,850)

Provisions no longer used (Except Provision for Doubtful Debts)

(40,635,496)

(108,465,097)

FCY Revaluation Differences of Provision Balances (Except Doubtful Debts)

3,926,263

4,657,616

Profits From Selling Fixed Assets

(2,664,190)

(2,073,253)

Profits From Selling Financial Investments

(93,073,621)

(126,694,967)

Profits From Selling an Investment in Associated

(1,873,813)

96

FCY Revaluation Difference of Long Term Loans

459,526

176,557

Share Based Payments

62,114,443

56,766,651

Investment in Subsidiary and Associated Company Evaluation Differences

6,354,684

(13,033,822)

Impairment of Real Estate Investments

361,200

5,989,700

Operating Profits Before Changes in Operating Assets and Liabilities

1,854,600,843

1,741,534,281

Net Decrease (Increase) in Assets and Liabilities

Due from banks

(4,989,972,029)

135,222,889

Treasury Bills & Other Governmental Notes

121,265,205

1,047,055,612

Trading Financial Assets

840,449,628

(556,423,886)

Financial Derivatives (Net)

(25,035,261)

38,530,721

Loans and Overdrafts

(3,100,295,504)

(6,528,511,716)

Debit Balances and Other Assets

134,350,001

(54,207,077)

Due to Banks

(192,787,727)

292,228,569

Customer Deposits

6,406,909,484

5,849,443,981

Credit Balances & Other Liabilities

(686,370,502)

(477,288,787)

Net Cash Provided from Operating Activities

748,689,591

1,487,584,587

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT

As of Sep. 30, 2011

Sep. 30, 2011

Sep. 30, 2010

Amounts in EGP

Cash Flow From Investing Activities:-

Payments to Purchase Subsidiary And Associated Co.

(11,000,000)

(16,455,599)

Income from Selling Subsidiary and Associated Co.

-

48,750

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

(90,709,389)

(48,522,895)

Redemption of Held-to-Maturity Financial Investments

230,225,164

249,656,598

Held to Maturity Financial Investments Purchases

(5,000,000)

(15,919,404)

Purchase of Available for Sale Financial Investments

(1,493,244,059)

(4,563,382,432)

Net Cash (Used in) Provided from Investment Activities

(1,369,728,284)

(4,394,574,982)

Cash Flow From Financing Activities:-

Increase (Decrease) in Long Term Loans

(33,657,304)

41,651,016

Dividends Paid

(844,414,580)

(661,806,331)

Capital Increase

33,119,390

25,721,800

Net Cash (Used in) Financing Activities

(844,952,494)

(594,433,515)

Net cash & cash equivalent changes

(1,465,991,187)

(3,501,423,910)

Beginning Balance of Cash and Cash Equivalent

8,058,126,497

10,230,779,568

Cash & Cash equivalent Balance At the End of the Period

6,592,135,310

6,729,355,659

Cash & Cash Equivalent are Represented as Follows:-

Cash and Due from Central Bank

4,585,395,495

4,532,683,673

Due From Banks

11,677,631,859

7,691,416,292

Treasury Bills and other Governmental Notes

8,690,616,464

8,416,562,813

Obligatory Reserve balance with CBE

(2,782,468,103)

(2,429,632,454)

Due from Banks (Time Deposits) More than Three Months

(8,608,192,530)

(4,944,604,992)

Treasury Bills With Maturity More than 3 months

(6,970,847,875)

(6,537,069,673)

Total Cash & Cash Equivalent

6,592,135,310

6,729,355,659

Sep. 30,2010

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Intangible Assets Value for Bank share Before Acquisition

Retained Earning

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Investments

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

2,925,000,000

513,606,534

1,463,504,300

302,794,421

(176,287,838)

206,530,551

(107,124,766)

26,652,790

1,717,315,559

161,728,984

7,033,720,534

45,607,323

7,079,327,857

Capital Increase

2,976,443,600

(476,326,032)

(2,474,395,768)

-

-

-

-

-

-

-

25,721,800

-

25,721,800

Transferred To Reserves

-

87,847,835

1,089,303,930

-

-

-

-

-

(1,098,587,119)

(78,564,646)

-

-

-

Transferred to Retained Earning

-

-

-

(37,980,544)

(22,173,982)

-

-

43,077,890

-

(17,076,636)

-

(17,076,636)

Dividends Paid

-

-

-

-

-

-

-

-

(661.806.331)

-

(661.806.331)

-

(661.806.331)

Net Profits of the Year

-

-

-

-

-

-

-

-

1,416,186,038

-

1,416,186,038

1,290,821

1,417,476,859

Changes During the Period

-

-

-

-

1,626,635

-

-

-

-

-

1,626,635

-

1,626,635

Addition from Financial Investment Revaluation

-

-

-

-

-

-

110,188,587

-

-

-

110,188,587

-

110,188,587

Transferred to Bank Risk Reserve

-

-

-

-

-

-

-

113,960,161

(113,960,161)

-

-

-

-

Reserve for Employee Stock Ownership Plan (ESOP)

-

-

-

-

-

-

-

-

-

56,766,652

56,766,652

-

56,766,652

Balance at the End of the Period

5,901,443,600

125,128,337

78,412,462

302,794,421

(212,641,747)

184,356,569

3,063,821

140,612,951

1,302,225,877

139,930,990

7,965,327,280

46,898,144

8,012,225,424

Sep. 30, 2011

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Intangible Assets Value for Bank Share Before Acquisition

(EGP)

Retained Earnings

(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)

(EGP)

Total Shareholders Equity

(EGP)

Minority Interest (EGP)

Total

(EGP)

Beginning Balance

5,901,443,600

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

8,571,972,422

46,965,639

8,618,938,062

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

-

-

-

-

(122,852,795)

-

-

-

122,852,795

-

-

-

-

Dividends paid

-

-

-

-

(20,231,298)

-

-

-

(824,183,282)

-

(844,414,580)

-

(844,414,580)

Net Profits of the Period

-

-

-

-

-

-

-

-

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 Investments 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

Balance at the end of the period

5,934,562,990

231,344,896

1,234,122,776

302,794,421

(349,524,462)

185,931,315

(348,433,258)

233,158,965

988,930,163

122,008,974

8,534,896,780

46,973,871

8,581,870,652