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

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

Separate Financial Statements

September 30th , 2018

FINANCIAL POSITION

As of Sep 30th, 2018

Amounts in EGP Thousands

Note

Sep 30th, 2018

December 31st , 2017

Assets

Cash and balances with central bank

15

33,253,111

14,663,289

Due from banks

16

45,038,599

45,319,766

Treasury bills and other governmental notes

17

48,324,427

54,478,202

Trading financial assets

18

4,113,070

7,295,197

Loans and advances to banks, net

19

77,309

1,313

Loans and advances to customers, net

20

104,354,329

88,427,103

Derivative financial instruments

21

14,993

40,001

Financial investments

- Available for sale

22

36,735,035

30,474,781

- Held to maturity

22

42,549,178

45,167,722

Investments in associates and subsidiaries

23

68,638

54,068

Other assets

24

10,698,705

6,886,807

Intangible assets

41

271,267

368,923

Deferred tax assets (Liabilities)

32

350,123

179,630

Property, plant and equipment

25

1,407,161

1,414,519

Total assets

327,255,945

294,771,321

Liabilities and equity

Liabilities

Due to banks

26

1,364,767

1,877,918

Due to customers

27

280,626,002

250,767,370

Derivative financial instruments

21

119,299

196,984

Current tax liabilities

2,563,006

2,778,973

Other liabilities

29

6,936,325

5,476,531

Other loans

28

3,679,094

3,674,736

Provisions

30

1,662,618

1,615,159

Total liabilities

296,951,111

266,387,671

Equity

Issued and paid up capital

31

11,668,326

11,618,011

Reserves

34

10,979,229

10,137,515

Reserve for employee stock ownership plan (ESOP)

654,484

489,334

Retained earnings*

34

7,002,795

6,138,790

Total equity

30,304,834

28,383,650

Total liabilities and equity

327,255,945

294,771,321

*Including net profit for the current period

INCOME STATEMENT

As of Sep 30th , 2018

Amounts in EGP Thousands

Note

Sep 30th, 2018

Sep 30th, 2017

Interest and similar income

27,150,333

21,008,359

Interest and similar expense

(13,842,130)

(11,698,658)

Net interest income

6

13,308,203

9,309,701

Fee and commission income

2,464,173

2,019,148

Fee and commission expense

(703,749)

(435,430)

Net fee and commission income

7

1,760,424

1,583,718

Dividend income

8

25,063

27,844

Net trading income

9

745,248

908,024

Profits (Losses) on financial investments

22

402,153

337,726

Administrative expenses

10

(2,947,507)

(2,262,632)

Other operating (expenses) income

11

(997,218)

(730,741)

Intangible assets amortization

41

(97,656)

(97,656)

Impairment charge for credit losses

12

(2,803,402)

(1,431,865)

Profit before income tax

9,395,308

7,644,119

Income tax expense

13

(2,563,006)

(1,945,105)

Deferred tax assets (Liabilities)

32 & 13

170,493

(9,715)

Net profit for the period

7,002,795

5,689,299

Earnings per share

14

Basic

5.32

4.33

Diluted

5.23

4.26

CASH FLOW STATEMENT

As of Sep 30th , 2018

Amounts in EGP Thousands

Sep 30th , 2018

Sep 30th , 2017

Cash flow from operating activities

Profit Before Income Tax

9,395,308

7,644,119

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

Fixed assets depreciation

279,798

263,524

Impairment charge for credit losses

2,803,402

1,431,865

Other provisions charges

90,731

119,983

Trading financial investments revaluation differences

242,481

-

Available for sale investments exchange revaluation differences

(103,827)

115,734

Intangible assets amortization

97,656

97,656

Financial investments impairment charge

19,721

(96,182)

Exchange differences in financial investments in subsidiary

(470)

-

Utilization of other provisions

(969)

(19,951)

Other provisions no longer used

(45,079)

(97,884)

Exchange differences of other provisions

2,776

2,365

Profits from selling property, plant and equipment

(1,045)

(607)

(Losses) Profits from selling financial investments

(421,874)

101,546

Shares based payments

324,510

230,357

Released charges of non-current assets held for sale

-

(330,934)

Operating profits before changes in operating assets and liabilities

12,683,119

9,461,591

Net decrease (increase) in assets and liabilities

Due from banks

(42,520,192)

(7,919,523)

Treasury bills and other governmental notes

6,405,425

(16,875,364)

Trading financial assets

3,182,127

(2,154,328)

Derivative financial instruments

(42,783)

24,028

Loans and advances to banks and customers

(18,806,624)

(3,277,713)

Other assets

(3,368,677)

(307,248)

Non-current assets held for sale

-

428,011

Due to banks

(513,151)

(2,344,595)

Due to customers

29,858,632

15,768,372

Income tax obligations paid

(2,778,973)

(2,017,034)

Other liabilities

1,459,794

539,926

Net cash (used in) provided from operating activities

(14,441,303)

(8,673,877)

Cash flow from investing activities

Proceeds from redemption of subsidiary and associates

-

750

Payment for purchases of subsidiary and associates

(10,575)

-

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

(652,768)

(468,306)

Proceeds from selling property, plant and equipment

1,045

607

Proceeds from redemption of held to maturity financial investments

7,321,780

11,026,150

Payment for purchases of held to maturity financial investments

(4,703,236)

(4,596,059)

Payment for purchases of available for sale financial investments

(11,372,289)

(13,263,959)

Proceeds from selling available for sale financial investments

1,985,962

1,146,696

Proceeds from selling non current assets held for sale

-

628,521

Net cash (used in) provided from investing activities

(7,430,081)

(5,525,600)

Cash flow from financing activities

Increase (decrease) in long term loans

4,358

(18,837)

Dividend paid

(2,143,177)

(1,350,207)

Capital Increase

50,315

79,351

Net cash used in financing activities

(2,088,504)

(1,289,693)

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

(23,959,888)

(15,489,170)

Beginning balance of cash and cash equivalent

49,208,837

61,518,700

Cash and cash equivalent at the end of the period

25,248,949

46,029,530

Cash and cash equivalent comprise:

Cash and balances with central bank

33,253,111

23,174,630

Due from banks

45,038,599

38,891,261

Treasury bills and other governmental notes

48,324,427

54,950,084

Obligatory reserve balance with CBE

(23,004,955)

(12,666,252)

Due from banks with maturities more than three months

(30,113,810)

(3,257,401)

Treasury bills with maturity more than three months

(48,248,423)

(55,062,792)

Total cash and cash equivalent

25,248,949

46,029,530