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

Notes

Dec. 31, 2017

Dec. 31, 2016

EGP Thousands

EGP Thousands

Profit for the year

6,802,586

5,462,396

Other comprehensive income

Other comprehensive income to be reclassified to profit or loss in subsequent periods:

Net (Loss)/gain on available-for-sale financial assets

537,286

22,219

Cumulative foreign currencies translation differences

32

(8,588)

8,588

Other comprehensive income for the year

528,698

30,807

Total comprehensive income for the year

7,331,284

5,493,203

Attributable to:

Equity holders of the parent

7,307,234

5,479,055

Non-controlling interest

24,050

14,148

The accompanying notes from 1 to 41 form an integral part of these consolidated financial statements.

Consolidated cash flow statement for the year ended December 31, 2017

Notes

Dec. 31, 2017

Dec. 31, 2016

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax from continued operations

9,292,103

7,428,903

Profit before income tax from discontinued operations

40

-

158,040

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

Fixed assets depreciation

353,681

288,057

Impairment charge for credit losses

1,742,281

892,874

Other provisions charges

212,622

150,847

Trading financial investments revaluation differences

(248,072)

(269,283)

Available for sale and held to maturity investments exchange revaluation differences

100,078

(2,219,961)

Goodwill impairment

-

217,078

Financial investments impairment charge

(83,079)

82,428

Utilization of other provisions

(25,463)

(3,696)

Other provisions no longer used

(97,897)

(78,405)

Exchange differences of other provisions

11,840

583,550

Profits from selling property, plant and equipment

(607)

(1,682)

Profits from selling financial investments

99,047

(35,193)

Profits from selling investments in associates

-

90,447

Shares based payments

290,884

187,000

Bank's share in the profits of associates

(38,636)

(131,799)

Associates financial investments revaluation differences

228

683

Operating profits before changes in operating assets and liabilities

11,609,010

7,339,888

Net decrease (increase) in assets and liabilities

Due from banks

(2,594,442)

264,072

Treasury bills and other governmental notes

(16,466,420)

(16,057,258)

Trading financial assets

(4,601,991)

3,672,526

Derivative financial instruments

95,161

(2,918)

Loans and advances to banks and customers

(4,019,132)

(29,440,654)

Other assets

(1,121,981)

(4,450,111)

Due to banks

(1,131,078)

1,408,227

Due to customers

18,802,058

76,506,379

Income tax obligations paid

(2,017,034)

(1,949,694)

Other liabilities

1,897,201

4,354,673

Net cash provided from operating activities

451,352

41,645,130

Cash flow from investing activities

Proceeds from redemption of subsidiary and associates

750

(12,036)

Payment (proceeds) for purchases and sell of subsidiary and associates

(44,318)

176,161

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

(745,089)

(560,631)

Proceeds from redemption of held to maturity financial investments

13,354,468

4,094

Payment for purchases of held to maturity financial investments

(4,597,254)

(44,667,810)

Payment for purchases of available for sale financial investments

(25,868,230)

(3,334,122)

Proceeds from selling available for sale financial investments

1,261,980

46,370,851

Proceeds from selling non current assets held for sale

628,521

(2,989)

Goodwill impairment

-

-

Non current assets held for sale

428,011

-

Net cash used in investing activities

(15,581,161)

(2,026,482)

Consolidated cash flow statement for the year ended December 31, 2017

(Cont.)

Dec. 31, 2017

Dec. 31, 2016

EGP Thousands

EGP Thousands

Cash flow from financing activities

Increase (decrease) in long term loans

3,524,063

28,915

Dividend paid

(1,350,204)

(1,463,450)

Capital increase

79,351

68,057

Payment related to finanace lease

(3,588)

(12,380)

Net cash used in financing activities

2,249,622

(1,378,858)

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

(12,880,187)

38,239,790

Beginning balance of cash and cash equivalent

52,675,691

14,435,901

Cash and cash equivalent at the end of the year

39,795,504

52,675,691

Cash and cash equivalent comprise:

Cash and balances with central bank

14,663,289

10,522,040

Due from banks

45,319,766

58,011,034

Treasury bills and other governmental notes

54,478,202

39,177,184

Obligatory reserve balance with CBE

(8,878,986)

(5,438,235)

Due from banks with maturities more than three months

(11,132,919)

(11,408,904)

Treasury bills with maturity more than three months

(54,653,848)

(38,187,428)

Total cash and cash equivalent

39,795,504

52,675,691