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

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

Separate Financial Statements

June 30th , 2018

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FINANCIAL POSITION

As of June 30th, 2018

Amounts in EGP Thousands

Note

June 30th, 2018

December 31st , 2017

Assets

Cash and balances with central bank

15

24,601,352

14,663,289

Due from banks

16

51,245,308

45,319,766

Treasury bills and other governmental notes

17

33,938,896

54,478,202

Trading financial assets

18

6,906,100

7,295,197

Loans and advances to banks, net

19

82,146

1,313

Loans and advances to customers, net

20

107,000,546

88,427,103

Derivative financial instruments

21

31,113

40,001

Financial investments

- Available for sale

22

38,248,938

30,474,781

- Held to maturity

22

40,185,122

45,167,722

Investments in associates and subsidiaries

23

68,569

54,068

Other assets

24

7,748,424

6,886,807

Intangible assets

41

303,819

368,923

Deferred tax assets (Liabilities)

32

365,051

179,630

Property, plant and equipment

25

1,418,080

1,414,519

Total assets

312,143,464

294,771,321

Liabilities and equity

Liabilities

Due to banks

26

5,657,628

1,877,918

Due to customers

27

266,870,541

250,767,370

Derivative financial instruments

21

138,292

196,984

Current tax liabilities

1,685,554

2,778,973

Other liabilities

29

3,977,842

5,476,531

Other loans

28

3,699,637

3,674,736

Provisions

30

1,651,212

1,615,159

Total liabilities

283,680,706

266,387,671

Equity

Issued and paid up capital

31

 11,618,011

11,618,011

Reserves

34

 11,722,597

10,137,515

Reserve for employee stock ownership plan (ESOP)

 705,195

489,334

Retained earnings*

 4,416,955

6,138,790

Total equity

 28,462,758

28,383,650

Total liabilities and equity

 312,143,464

294,771,321

*Including net profit for the current period

INCOME STATEMENT

As of June 30th , 2018

Amounts in EGP Thousands

Note

June 30th, 2018

June 30th, 2017

Interest and similar income

16,932,688

13,197,728

Interest and similar expense

(9,079,533)

(7,454,779)

Net interest income

6

7,853,155

5,742,949

Fee and commission income

1,632,017

1,317,034

Fee and commission expense

(437,896)

(267,157)

Net fee and commission income

7

1,194,121

1,049,877

Dividend income

8

20,533

26,136

Net trading income

9

385,925

620,594

Profits (Losses) on financial investments

22

401,995

323,564

Administrative expenses

10

(1,933,064)

(1,500,726)

Other operating (expenses) income

11

(649,306)

(528,307)

Intangible assets amortization

41

(65,104)

(65,104)

Impairment charge for credit losses

12

(1,291,167)

(809,346)

Profit before income tax

5,917,088

4,859,637

Income tax expense

13

(1,685,554)

(1,249,710)

Deferred tax assets (Liabilities)

32 & 13

185,421

(3,055)

Net profit for the period

4,416,955

3,606,872

Earnings per share

14

Basic

3.36

2.75

Diluted

3.30

2.70

CASH FLOW STATEMENT

As of June 30th , 2018

Amounts in EGP Thousands

June 30th , 2018

June 30th , 2017

Cash flow from operating activities

Profit Before Income Tax

5,917,088

4,859,637

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

Fixed assets depreciation

180,206

170,012

Impairment charge for credit losses

1,291,167

809,346

Other provisions charges

99,715

148,424

Impairment charge for other assets

214,000

-

Available for sale investments exchange revaluation differences

(91,952)

26,389

Intangible assets amortization

65,104

65,104

Financial investments impairment charge

19,842

(106,782)

Exchange differences in financial investments in subsidiary

(401)

-

Utilization of other provisions

(872)

(21,939)

Other provisions no longer used

(62,000)

(97,879)

Exchange differences of other provisions

(790)

16,191

(Losses) Profits from selling financial investments

(421,837)

101,465

Shares based payments

215,861

153,340

Released charges of non-current assets held for sale

-

(312,584)

Operating profits before changes in operating assets and liabilities

7,425,131

5,810,724

Net decrease (increase) in assets and liabilities

Due from banks

(27,757,024)

(6,167,220)

Treasury bills and other governmental notes

20,314,670

(4,707,972)

Trading financial assets

389,097

913,504

Derivative financial instruments

(42,938)

37,540

Loans and advances to banks and customers

(19,945,443)

(5,880,018)

Other assets

(549,525)

(563,155)

Non-current assets held for sale

-

205,346

Due to banks

3,779,710

(1,423,407)

Due to customers

16,103,171

13,197,334

Income tax obligations paid

(2,778,973)

(2,017,034)

Other liabilities

(1,498,689)

75,098

Net cash (used in) provided from operating activities

(4,560,813)

(519,260)

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

(404,485)

(328,120)

Proceeds from redemption of held to maturity financial investments

4,982,600

10,030,359

Payment for purchases of held to maturity financial investments

-

(4,594,910)

Payment for purchases of available for sale financial investments

(10,731,239)

(1,916,162)

Proceeds from selling available for sale financial investments

724,732

668,553

Proceeds from selling non-current assets held for sale

-

500,867

Net cash (used in) provided from investing activities

(5,438,967)

4,361,337

Cash flow from financing activities

Increase (decrease) in long term loans

24,901

(13,956)

Dividend paid

(2,143,177)

(1,350,207)

Capital Increase

-

79,351

Net cash used in financing activities

(2,118,276)

(1,284,812)

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

(12,118,056)

2,557,265

Beginning balance of cash and cash equivalent

49,208,837

61,518,700

Cash and cash equivalent at the end of the period

37,090,781

64,075,965

Cash and cash equivalent comprise:

Cash and balances with central bank

24,601,352

19,497,893

Due from banks

51,245,308

58,552,276

Treasury bills and other governmental notes

33,938,896

43,092,546

Obligatory reserve balance with CBE

(14,042,817)

(10,832,277)

Due from banks with maturities more than three months

(24,312,780)

(3,339,073)

Treasury bills with maturity more than three months

(34,339,178)

(42,895,400)

Total cash and cash equivalent

37,090,781

64,075,965