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

Condensed Separate Interim Balance Sheet as at June 30,2021

Notes

Jun. 30, 2021

Dec. 31, 2020

EGP Thousands

EGP Thousands

Assets

Cash and balances at the central bank

7

31,792,597

33,572,597

Due from banks

8

79,079,990

86,997,034

Loans and advances to banks, net

10

782,360

776,980

Loans and advances to customers, net

11

130,469,575

118,854,880

Derivative financial instruments

292,284

248,759

Investments

- Financial Assets at Fair Value through P&L

12

208,429

359,959

- Financial Assets at Fair Value through OCI

12

187,616,393

147,646,432

- Amortized cost

12

22,369,984

25,020,917

- Investments in associates and subsidiaries

13

1,022,433

874,348

Other assets

10,930,487

9,095,212

Deferred tax assets (Liabilities)

456,600

437,772

Property and equipment

14

2,455,283

2,259,940

Total assets

467,476,415

426,144,830

Liabilities and equity

Liabilities

Due to banks

15

1,313,331

8,815,561

Due to customers

16

384,955,527

340,086,524

Derivative financial instruments

354,701

331,073

Current tax liabilities

1,616,491

859,582

Other liabilities

7,332,878

5,679,266

Other loans

5,626,792

7,746,946

Provisions

17

3,509,061

3,221,252

Total liabilities

404,708,781

366,740,204

Equity

Issued and paid up capital

14,776,813

14,776,813

Reserves

40,241,849

33,085,554

Reserve for employee stock ownership plan (ESOP)

1,381,162

1,064,648

Retained earnings *

6,367,810

10,477,611

Total equity and net profit for the period / year

62,767,634

59,404,626

Total liabilities and equity

467,476,415

426,144,830

The accompanying notes are an integral part of these financial statements.

(Review report attached)

*

Including net profit for the current period

Hussein Abaza

Sherif Samy

CEO & Managing Director

Chairman

Condensed Separate Interim Income Statement for the period ended June 30, 2021

Notes

Jun. 30, 2021

Jun. 30, 2020

EGP Thousands

EGP Thousands

Interest and similar income

20,975,491

20,922,642

Interest and similar expense

(9,302,462)

(8,445,745)

Net interest income

11,673,029

12,476,897

Fee and commission income

1,798,447

1,479,217

Fee and commission expense

(687,129)

(493,057)

Net fee and commission income

1,111,318

986,160

Dividend income

63,572

25,962

Net trading income

5

274,657

177,231

Profits (Losses) on financial investments

12

577,519

832,005

Administrative expenses

(2,918,943)

(2,844,898)

Other operating (expenses) income

(1,113,292)

(1,847,487)

Impairment release (charges) for credit losses

(1,019,076)

(2,259,654)

Profit before income tax

8,648,784

7,546,216

Income tax expense

(2,590,270)

(2,652,208)

Deferred tax assets (Liabilities)

18,828

107,601

Net profit for the period

6,077,342

5,001,609

Earning per share

6

Basic

3.64

3.00

Diluted

3.63

2.99

Hussein Abaza

Sherif Samy

CEO & Managing Director

Chairman

Condensed Separate Interim statement of Comprehensive Income for the period ended June 30, 2021

Jun. 30, 2021

Jun. 30, 2020

EGP Thousands

EGP Thousands

Net profit for the period

6,077,342

5,001,609

Change in fair value of debt instruments measured at fair value through other comprehensive income

(1,624,416)

(1,483,581)

Transferred from reserve on disposal of financial assets at fair value through OCI

(104,406)

-

Effect of ECL in fair value of debt instruments measured at fair value through OCI

(54,113)

90,512

Total comprehensive income for the period

4,294,407

3,608,540

Condensed Separate Interim Cash flows for the period ended June 30, 2021

Notes

Jun. 30, 2021

Jun. 30, 2020

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax

8,648,784

7,546,216

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

Fixed assets depreciation

14

411,612

328,251

Impairment charge for credit losses (Loans and advances to customers and banks)

1,060,008

2,144,988

Other provisions charges

17

350,323

1,096,888

Impairment charge for credit losses (due from banks)

13,181

24,154

Impairment charge for credit losses (financial investments)

(54,113)

90,512

Impairment charge for other assets

25,524

24,621

Exchange revaluation differences for financial assets at fair value through OCI

50,039

(85,180)

Released (Impairment) charge financial assets at fair value through OCI

(72,957)

78,615

Exchange differences in financial investments in subsidiary

-

(242)

Utilization of other provisions

17

(44,173)

(1,066)

Other provisions no longer used

17

(9,145)

(43,200)

Exchange differences of other provisions

17

(9,196)

3,011

(Profits) losses from selling property, plant and equipment

(1,250)

(94)

(Profits) losses from selling financial investments

12

(514,837)

(924,720)

Shares based payments

316,514

296,959

Released (Impairment) charges of investments in associates and subsidiaries

10,275

14,100

Operating profits before changes in operating assets and liabilities

10,180,589

10,593,813

Net decrease (increase) in assets and liabilities

Due from banks

(8,642,436)

(507,846)

Financial assets at fair value through P&L

12

151,530

61,477

Derivative financial instruments

(19,897)

(41,469)

Loans and advances to banks and customers

10 - 11

(12,680,083)

(2,430,817)

Other assets

(1,944,779)

925,679

Due to banks

15

(7,502,230)

460,488

Due to customers

16

44,869,003

14,460,587

Income tax obligations paid

(973,779)

(4,639,364)

Other liabilities

794,030

(2,962,457)

Net cash used in (generated from) operating activities

24,231,948

15,920,091

Cash flow from investing activities

Proceeds from investments in associates.

-

750

Proceeds (payments) for investment in associates.

(158,360)

(560,963)

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

(522,975)

(625,596)

Proceeds from selling property, plant and equipment

1,250

94

Proceeds from redemption of financial assets at amortized cost

2,654,583

59,360,102

Payment for purchases of financial assets at amortized cost

(3,844)

(44,945,839)

Payment for purchases of financial assets at fair value through OCI

(111,506,191)

(50,506,453)

Proceeds from selling financial assets at fair value through OCI

71,451,202

55,237,128

Net cash generated from (used in) investing activities

(38,084,335)

17,959,223

Cash flow from financing activities

Received (Repaid) in long term loans

(2,120,154)

(22,492)

Dividend paid

(1,360,652)

(3,370,464)

Net cash generated from (used in) financing activities

(3,480,806)

(3,392,956)

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

(17,333,193)

30,486,358

Beginning balance of cash and cash equivalent

75,965,247

22,895,017

Cash and cash equivalent at the end of the period

58,632,054

53,381,375

Cash and cash equivalent comprise:

Cash and balances at the central bank

31,792,597

30,421,432

Due from banks

79,116,502

56,818,722

Treasury bills and other governmental notes

58,677,132

27,424,701

Obligatory reserve balance with CBE

(26,239,755)

(22,905,156)

Due from banks with maturities more than three months

(26,293,821)

(10,266,780)

Treasury bills with maturity more than three months

(58,420,601)

(28,111,544)

Total cash and cash equivalent

58,632,054

53,381,375

Condensed Separate Interim statement of changes in shareholders' equity for the period ended June 30, 2020

Jun. 30, 2020

Issued and paid up capital

Legal reserve

General reserve

General risk reserve

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Total

EGP Thousands

Beginning balance

14,690,821

2,188,029

16,474,429

1,549,445

13,466

4,111,781

5,164

11,803,555

963,152

51,799,842

Transferred to reserves

-

590,106

7,840,286

-

1,440

-

-

(8,431,832)

-

-

Dividend paid

-

-

-

-

-

-

-

(3,370,464)

-

(3,370,464)

Net profit for the period

-

-

-

-

-

-

-

5,001,609

-

5,001,609

Transferred from reserve of financial assets at fair value through OCI

-

-

-

-

-

(55,142)

-

55,142

-

-

Net unrealised gain/(loss) on financial assets at fair value through OCI

-

-

-

-

-

(1,483,581)

-

-

-

(1,483,581)

Transferred (from) to bank risk reserve

-

-

-

-

-

-

1,259

(1,259)

-

-

ECL for impairment of debt instruments investments

-

-

-

-

-

90,512

-

-

-

90,512

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

296,959

296,959

Ending balance

14,690,821

2,778,135

24,314,715

1,549,445

14,906

2,663,570

6,423

5,056,751

1,260,111

52,334,877

Condensed Separate Interim statement of changes in shareholders' equity for the period ended June 30, 2021

Jun. 30, 2021

Issued and paid up capital

Legal reserve

General reserve

General risk reserve

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Total

EGP Thousands

Beginning balance

14,776,813

2,778,135

24,765,658

1,549,445

14,906

3,970,987

6,423

10,477,611

1,064,648

59,404,626

Transferred to reserves

-

514,939

8,420,479

-

1,094

-

-

(8,936,512)

-

-

Dividend paid

-

-

-

-

-

-

-

(1,360,652)

-

(1,360,652)

Net profit for the period

-

-

-

-

-

-

-

6,077,342

-

6,077,342

Transferred from reserve on disposal of financial assets at fair value through OCI

-

-

-

-

-

(104,406)

-

104,406

-

-

Transferred from previous years' outstanding balances

-

-

-

-

-

-

-

8,333

-

8,333

Net unrealised gain/(loss) on financial assets at fair value through OCI

-

-

-

-

-

(1,624,416)

-

-

-

(1,624,416)

Transferred (from) to banking risk reserve

-

-

-

-

-

-

2,718

(2,718)

-

-

Effect of ECL in fair value of debt instruments measured at fair value through OCI

-

-

-

-

-

(54,113)

-

-

-

(54,113)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

316,514

316,514

Ending balance

14,776,813

3,293,074

33,186,137

1,549,445

16,000

2,188,052

9,141

6,367,810

1,381,162

62,767,634