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

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

Separate Financial Statements

September 30th , 2017

FINANCIAL POSITION

As of September 30th , 2017

Amounts in EGP Thousands

Note

September 30, 2017

December 31, 2016

Assets

Cash and balances with central bank

15

23,174,630

10,522,040

Due from banks

16

38,891,261

58,011,034

Treasury bills and other governmental notes

17

54,950,084

39,177,184

Trading financial assets

18

4,599,462

2,445,134

Loans and advances to banks, net

19

1,207

159,651

Loans and advances to customers, net

20

87,996,206

85,991,914

Derivative financial instruments

21

68,570

269,269

Financial investments

- Available for sale

22

17,781,240

5,447,291

- Held to maturity

22

47,494,845

53,924,936

Investments in associates

23

9,750

10,500

Non current assets held for sale

42

-

428,011

Other assets

24

5,953,798

5,446,025

Intangible assets

41

401,475

499,131

Deferred tax assets (Liabilities)

32

171,593

181,308

Property, plant and equipment

25

1,342,886

1,338,629

Total assets

282,837,007

263,852,057

Liabilities and equity

Liabilities

Due to banks

26

664,401

3,008,996

Due to customers

27

247,733,684

231,965,312

Derivative financial instruments

21

154,420

331,091

Current tax liabilities

1,945,105

2,017,034

Other liabilities

29

4,119,256

3,579,330

Long term loans

28

141,406

160,243

Other provisions

30

1,518,570

1,514,057

Total liabilities

256,276,842

242,576,063

Equity

Issued and paid up capital

31

11,618,011

11,538,660

Reserves

34

8,824,048

3,443,319

Reserve for employee stock ownership plan (ESOP)

428,807

343,460

Total equity

20,870,866

15,325,439

Net profit for the period/year

5,689,299

5,950,555

Total equity and net profit for the period/ year

26,560,165

21,275,994

Total liabilities and equity

282,837,007

263,852,057

INCOME STATEMENT

As of September 30, 2017

Amounts in EGP Thousands

Note

September 30, 2017

September 30, 2016

Interest and similar income

21,008,359

13,486,623

Interest and similar expense

(11,698,658)

(6,420,760)

Net interest income

6

9,309,701

7,065,863

Fee and commission income

2,019,148

1,385,726

Fee and commission expense

(435,430)

(279,399)

Net fee and commission income

7

1,583,718

1,106,327

Dividend income

8

27,844

32,019

Net trading income

9

908,024

696,412

Profits on financial investments

22

337,726

44,236

Administrative expenses

10

(2,262,632)

(1,793,713)

Other operating (expenses) income

11

(730,741)

(557,683)

Goodwill impairment

41

-

(32,561)

Intangible assets amortization

41

(97,656)

(97,656)

Impairment charge for credit losses

12

(1,431,865)

(577,684)

Profit before income tax

7,644,119

5,885,560

Income tax expense

13

(1,945,105)

(1,452,955)

Deferred tax assets (Liabilities)

32 & 13

(9,715)

(91)

Net profit for the Period

5,689,299

4,432,514

Earnings per share

14

Basic

4.34

3.38

Diluted

4.27

3.33

CASH FLOW STATEMENT

As of September 30, 2017

Amounts in EGP Thousands

September 30, 2017

September 30, 2016

Cash flow from operating activities

Profit before income tax

7,644,119

5,885,560

Adjustments to reconcile net profit to net cash provided by operating activities

Fixed assets depreciation

263,524

205,146

Impairment charge for credit losses

1,431,865

577,684

Other provisions charges

119,983

165,575

Trading financial investments revaluation differences

(269,480)

50,748

Available for sale and held to maturity investments exchange revaluation differences

115,734

(263,567)

Goodwill impairment

-

32,561

Intangible assets amortization

97,656

97,656

Financial investments impairment charge

(96,182)

46,492

Utilization of other provisions

(19,951)

(2,822)

Other provisions no longer used

(97,884)

(47,405)

Exchange differences of other provisions

2,365

60,254

Profits from selling property, plant and equipment

(607)

(575)

Profits from selling financial investments

101,546

(10,935)

Profits (losses) from selling associates

-

(84,948)

Shares based payments

230,357

145,981

Impairment (Released) charges of non-current assets held for sale

(330,934)

-

Operating profits before changes in operating assets and liabilities

9,192,111

6,857,405

Net decrease (increase) in assets and liabilities

Due from banks

(7,919,523)

(2,042,595)

Treasury bills and other governmental notes

(16,875,364)

538,374

Trading financial assets

(1,884,848)

2,135,885

Derivative financial instruments

24,028

(65,136)

Loans and advances to banks and customers

(3,277,713)

(4,601,222)

Other assets

(307,248)

541,151

Non-Current Assets Held for Sale

428,011

-

Due to banks

(2,344,595)

(1,123,107)

Due to customers

15,768,372

22,800,375

Income tax obligations paid

(2,017,034)

(1,949,694)

Other liabilities

539,926

265,769

Net cash provided from operating activities

(8,673,877)

23,357,205

Cash flow from investing activities

Proceeds from selling subsidiary and associates

750

161,503

Payment for purchases of property, plant, equipment and branches constructions

(467,699)

(439,372)

Proceeds from redemption of held to maturity financial investments

11,026,150

4,094

Payment for purchases of held to maturity financial investments

(4,596,059)

(2,367,123)

Payment for purchases of available for sale financial investments

(13,263,959)

(3,024,361)

Proceeds from selling available for sale financial investments

1,146,696

4,427,351

Proceeds from selling non-current assets held for sale

628,521

-

Net cash used in investing activities

(5,525,600)

(1,237,908)

Cash flow from financing activities

Increase (decrease) in long term loans

(18,837)

16,300

Dividend paid

(1,350,207)

(1,463,450)

Capital Increase

79,351

68,057

Net cash used in financing activities

(1,289,693)

(1,381,869)

Net increase (decrease) in cash and cash equivalent during the period

(15,489,170)

20,740,204

Beginning balance of cash and cash equivalent

61,518,700

22,583,060

Cash and cash equivalent at the end of the period

46,029,530

43,323,264

Cash and cash equivalent comprise:

Cash and balances with central bank

23,174,630

12,434,973

Due from banks

38,891,261

41,177,611

Treasury bills and other governmental notes

54,950,084

21,613,272

Obligatory reserve balance with CBE

(12,666,252)

(9,846,334)

Due from banks with maturities more than three months

(3,257,401)

(464,462)

Treasury bills with maturity more than three months

(55,062,792)

(21,591,796)

Total cash and cash equivalent

46,029,530

43,323,264