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

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

June 30, 2023

Condensed Separate Interim Income Statement for the period ended June 30, 2023

Condensed Separate Interim Cash Flows for the period ended June 30, 2023

Notes

Jun. 30, 2023

Jun. 30, 2022

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax

20,127,696

11,415,242

Adjustments to reconcile profits to net cash provided by operating activities

Fixed assets depreciation

16

416,248

427,873

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

983,641

(94,868)

Other provisions charges

21

1,146,440

1,513,984

Impairment (Released) charge for credit losses (due from banks)

2,890

5,357

Impairment (Released) charge for credit losses (financial investments)

226,300

103,960

Impairment (Released) charge for other assets

-

(277,768)

Exchange revaluation differences for financial assets at fair value through OCI and AC

(5,858,602)

(2,840,747)

Utilization of other provisions

21

(1,031)

(1,707)

Other provisions no longer used

21

-

(267)

Exchange differences of other provisions

21

1,178,333

303,949

profits from selling property and equipment

(130)

(1,142)

profits from selling financial investments at fair value through OCI

13

(92,572)

(1,065,443)

Shares based payments

402,192

384,255

Operating profits before changes in operating assets and liabilities

18,531,405

9,872,678

Net decrease (increase) in assets and liabilities

Due from banks

32,434,410

13,240,715

Financial assets at fair value through P&L

-

239,339

Derivative financial instruments

(212,709)

(882,092)

Loans and advances to banks and customers

11 - 12

(25,329,650)

(25,746,135)

Other assets

(4,448,765)

(291,414)

Due to banks

17

20,464,950

2,107,063

Due to customers

18

126,298,231

21,455,167

Current income tax obligations paid

(817,428)

(780,370)

Other liabilities

2,117,243

(283,863)

Net cash generated from (used in) operating activities

169,037,687

18,931,088

Cash flow from investing activities

Payments for investment in subsidiaries

(1,216,022)

(49,900)

Payment for purchases of property, equipment and branches constructions

(700,038)

(312,818)

Proceeds from selling property and equipment

130

1,142

Proceeds from redemption of financial assets at amortized cost

196,783

659,761

Payment for purchases of financial assets at amortized cost

(9,045,180)

(41,770)

Payment for purchases of financial assets at fair value through OCI

(51,454,096)

(67,627,930)

Proceeds from selling financial assets at fair value through OCI

59,328,407

45,512,886

Net cash generated from (used in) investing activities

(2,890,016)

(21,858,629)

Condensed Separate Interim Cash Flows for the period ended June 30, 2023 (Cont.)

Jun. 30, 2023

Jun. 30, 2022

EGP Thousands

EGP Thousands

Cash flow from financing activities

Other loans

3,179,561

846,869

Dividends paid

(3,577,639)

(4,410,322)

Issued debt instruments

614,030

307,661

Capital increase

369,876

122,716

Net cash generated from (used in) financing activities

585,828

(3,133,076)

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

166,733,499

(6,060,617)

Beginning balance of cash and cash equivalent

92,895,143

60,891,899

Cash and cash equivalent at the end of the period

259,628,642

54,831,282

Cash and cash equivalent comprise:

Cash and balances at the central bank

33,404,357

41,845,093

Due from banks

281,505,636

57,016,700

Treasury bills

10

71,798,021

76,375,291

Obligatory reserve balance with CBE

(25,558,292)

(36,065,936)

Due from banks with maturities more than three months

(29,663,385)

(12,494,125)

Treasury bills with maturity more than three months

(71,857,695)

(71,845,741)

Total cash and cash equivalent

259,628,642

54,831,282

Condensed Separate Interim statement of changes in shareholders' equity

Jun. 30, 2022

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 at 1 January 2022

19,702,418

3,293,074

28,260,532

1,549,445

16,000

639,231

9,141

13,783,935

1,674,392

68,928,168

Capital increase

122,716

-

-

-

-

-

-

-

-

122,716

Transferred to reserves

-

670,872

8,836,326

-

2,947

-

-

(9,007,223)

(502,922)

-

Dividend paid

-

-

-

-

-

-

-

(4,410,322)

-

(4,410,322)

Net profit of the period

-

-

-

-

-

-

-

7,773,991

-

7,773,991

Transferred to RE from financial assets at fair value through OCI

-

-

-

-

-

(4,227)

-

4,227

-

-

Net unrealized gain/(loss) on financial assets at fair value through OCI after tax

-

-

-

-

-

(7,358,230)

-

-

-

(7,358,230)

Transferred (from) to bank risk reserve

-

-

-

-

-

-

2,840

(2,840)

-

-

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

-

-

-

-

-

104,188

-

-

-

104,188

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

384,255

384,255

Balance at 30 June 2022

19,825,134

3,963,946

37,096,858

1,549,445

18,947

(6,619,038)

11,981

8,141,768

1,555,725

65,544,766

Jun. 30, 2023

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 at 1 January 2023

29,825,134

3,963,946

27,096,858

1,549,445

18,947

(13,138,461)

11,981

16,497,346

1,895,435

67,720,631

Capital increase

369,876

-

-

-

-

-

-

-

-

369,876

Transferred to reserves

-

806,408

12,743,849

-

2,208

-

-

(12,388,223)

(1,164,242)

-

Dividend paid

-

-

-

-

-

-

-

(3,738,888)

-

(3,738,888)

Net profit of the period

-

-

-

-

-

-

-

14,143,571

-

14,143,571

Transferred to RE from financial assets at fair value through OCI

-

-

-

-

-

(95,308)

-

95,308

-

-

Net unrealized gain/(loss) on financial assets at fair value through OCI after tax

-

-

-

-

-

(9,947,459)

-

-

-

(9,947,459)

Transferred (from) to banking risk reserve

-

-

-

-

-

-

3,249

(3,249)

-

-

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

-

-

-

-

-

204,804

-

-

-

204,804

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

402,192

402,192

Balance at 30 June 2023

30,195,010

4,770,354

39,840,707

1,549,445

21,155

(22,976,424)

15,230

14,605,865

1,133,385

69,154,727