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CIB 1Q2022 Condensed Separate Results

19 Apr 2022 07:00

RNS Number : 4911I
Commercial Intnl Bank (Egypt) SAE
15 April 2022
Ā 

Click on, or paste the following link into your web browser, to view the associated PDF document

http://www.rns-pdf.londonstockexchange.com/rns/4911I_1-2022-4-15.pdf

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Separate Interim Balance Sheet as at March 31, 2022

Ā 

Ā 

Ā 

Notes

Mar. 31, 2022

Ā 

Dec. 31, 2021

Ā 

Ā 

Ā 

EGP Thousands

Ā 

EGP Thousands

Ā 

Ā 

Assets

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Cash and balances at the central bank

8

30,471,454

Ā 

43,385,222

Ā 

Ā 

Due from banks

9

120,898,421

Ā 

79,991,287

Ā 

Ā 

Loans and advances to banks, net

11

364,470

Ā 

312,216

Ā 

Ā 

Loans and advances to customers, net

12

157,575,938

Ā 

144,765,808

Ā 

Ā 

Derivative financial instruments

Ā 

884,030

Ā 

225,376

Ā 

Ā 

Investments

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

- Financial Assets at Fair Value through P&L

13

1,648

Ā 

240,987

Ā 

Ā 

- Financial Assets at Fair Value through OCI

13

179,382,229

Ā 

192,390,931

Ā 

Ā 

- Amortized cost

13

20,139,599

Ā 

20,318,767

Ā 

Ā 

- Investments in associates and subsidiaries

14

1,014,350

Ā 

1,014,350

Ā 

Ā 

Other assets

15

9,554,515

Ā 

11,141,917

Ā 

Ā 

Deferred tax assets (Liabilities)

Ā 

308,421

Ā 

460,026

Ā 

Ā 

Property and equipment

16

2,284,285

Ā 

2,404,237

Ā 

Ā 

Total assets

Ā 

522,879,360

Ā 

496,651,124

Ā 

Ā 

Liabilities and equity

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Liabilities

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Due to banks

17

3,695,888

Ā 

862,759

Ā 

Ā 

Due to customers

18

427,654,058

Ā 

406,100,916

Ā 

Ā 

Derivative financial instruments

Ā 

243,629

Ā 

265,265

Ā 

Ā 

Current tax liabilities

Ā 

1,113,423

Ā 

2,234,985

Ā 

Ā 

Other liabilities

19

12,133,075

Ā 

8,021,310

Ā 

Ā 

Issued debt instruments

20

1,810,601

Ā 

1,557,263

Ā 

Ā 

Other loans

Ā 

6,176,776

Ā 

5,140,782

Ā 

Ā 

Other Provisions

21

4,853,905

Ā 

3,539,676

Ā 

Ā 

Total liabilities

Ā 

457,681,355

Ā 

427,722,956

Ā 

Ā 

Equity

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Issued and paid up capital

Ā 

19,825,134

Ā 

19,702,418

Ā 

Ā 

Reserves

Ā 

39,418,823

Ā 

33,767,423

Ā 

Ā 

Reserve for employee stock ownership plan (ESOP)

Ā 

1,346,705

Ā 

1,674,392

Ā 

Ā 

Retained earnings *

Ā 

4,607,343

Ā 

13,783,935

Ā 

Ā 

Total equity and net profit for the period / year

Ā 

65,198,005

Ā 

68,928,168

Ā 

Ā 

Total liabilities and equity

Ā 

522,879,360

Ā 

496,651,124

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

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

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

(Review report attached)

Ā 

Ā 

Ā 

Ā 

Ā 

*

Including net profit for the current period

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Hussein Abaza

Sherif Samy

Ā 

CEO & Managing Director

Ā 

Chairman

Ā 

Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Separate Interim Income Statement for the period ended March 31, 2022

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Notes

Ā 

Ā 

Mar. 31, 2022

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2021

Ā 

Ā 

Ā 

Ā 

Ā 

EGP Thousands

Ā 

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Interest and similar income

Ā 

Ā 

11,812,196

Ā 

Ā 

10,120,581

Ā 

Interest and similar expense

Ā 

Ā 

(5,209,537)

Ā 

Ā 

(4,444,196)

Ā 

Net interest income

Ā 

Ā 

6,602,659

Ā 

Ā 

5,676,385

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Fee and commission income

Ā 

Ā 

1,191,476

Ā 

Ā 

844,128

Ā 

Fee and commission expense

Ā 

Ā 

(514,635)

Ā 

Ā 

(333,561)

Ā 

Ā 

Net fee and commission income

Ā 

Ā 

676,841

Ā 

Ā 

510,567

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Dividend income

Ā 

Ā 

37,800

Ā 

Ā 

91

Ā 

Net trading income

5

Ā 

716,066

Ā 

Ā 

112,718

Ā 

Profits (Losses) on financial investments

13

Ā 

1,021,334

Ā 

Ā 

493,655

Ā 

Administrative expenses

Ā 

Ā 

(1,545,348)

Ā 

Ā 

(1,472,944)

Ā 

Other operating (expenses) income

6

Ā 

(1,425,498)

Ā 

Ā 

(526,604)

Ā 

Impairment release (charges) for credit losses

Ā 

Ā 

40,525

Ā 

Ā 

(702,082)

Ā 

Profit before income tax

Ā 

Ā 

6,124,379

Ā 

Ā 

4,091,786

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Income tax expense

Ā 

Ā 

(1,375,213)

Ā 

Ā 

(1,209,247)

Ā 

Deferred tax assets (Liabilities)

Ā 

Ā 

(509,574)

Ā 

Ā 

(6,239)

Ā 

Net profit for the period

Ā 

Ā 

4,239,592

Ā 

Ā 

2,876,300

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Earning per share

7

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Basic

Ā 

Ā 

1.90

Ā 

Ā 

1.29

Ā 

Diluted

Ā 

Ā 

1.87

Ā 

Ā 

1.27

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Hussein Abaza

Ā 

Ā 

Ā 

Ā 

Sherif Samy

Ā 

Ā 

CEO & Managing Director

Ā 

Ā 

Ā 

Ā 

Chairman

Ā 

Ā Ā Ā Ā Ā Ā Ā Ā Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Separate Interim statement of Comprehensive Income for the period ended March 31, 2022

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2022

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2021

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

EGP Thousands

Ā 

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Net profit for the period

Ā 

Ā 

4,239,592

Ā 

Ā 

2,876,300

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

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

Ā 

Ā 

(3,958,945)

Ā 

Ā 

(1,674,309)

Ā 

Ā 

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

Ā 

Ā 

(4,201)

Ā 

Ā 

(104,406)

Ā 

Ā 

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

Ā 

Ā 

101,561

Ā 

Ā 

(14,644)

Ā 

Ā 

Total comprehensive income for the period

Ā 

Ā 

378,007

Ā 

Ā 

1,082,941

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 

Ā 

Condensed Separate Interim Cash flows for the period ended March 31, 2022

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Notes

Mar. 31, 2022

Ā 

Mar. 31, 2021

Ā 

Ā 

EGP Thousands

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Cash flow from operating activities

Ā 

Ā 

Ā 

Ā 

Profit before income tax

Ā 

6,124,379

Ā 

4,091,786

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

Ā 

Ā 

Ā 

Ā 

Fixed assets depreciation

16

210,105

Ā 

194,609

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

Ā 

(147,259)

Ā 

720,756

Other provisions charges

21

1,036,307

Ā 

114,144

Impairment charge for credit losses (due from banks)

Ā 

4,977

Ā 

(4,030)

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

Ā 

101,757

Ā 

(14,644)

Impairment (Released) charge for other assets

Ā 

(277,768)

Ā 

12,676

Exchange revaluation differences for financial assets at fair value through OCI

Ā 

63

Ā 

23,042

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

Ā 

-

Ā 

(72,957)

Utilization of other provisions

21

(156)

Ā 

(43,518)

Other provisions no longer used

21

(385)

Ā 

(5,872)

Exchange differences of other provisions

21

278,463

Ā 

(15,271)

Losses (profits) from selling property and equipment

Ā 

(50)

Ā 

(1,250)

Losses (profits) from selling financial investments

13

(1,021,334)

Ā 

(420,698)

Shares based payments

Ā 

175,235

Ā 

162,451

Operating losses (profits) before changes in operating assets and liabilities

Ā 

6,484,334

Ā 

4,741,224

Ā 

Ā 

Ā 

Ā 

Ā 

Net decrease (increase) in assets and liabilities

Ā 

Ā 

Ā 

Ā 

Due from banks

Ā 

25,542,432

Ā 

(12,278,859)

Financial assets at fair value through P&L

13

239,339

Ā 

18,839

Derivative financial instruments

Ā 

(680,290)

Ā 

(66,183)

Loans and advances to banks and customers

11 - 12

(12,715,125)

Ā 

(2,173,587)

Other assets

Ā 

1,851,768

Ā 

(284,984)

Due to banks

17

2,833,129

Ā 

(6,304,086)

Due to customers

18

21,553,142

Ā 

25,076,047

Income tax obligations paid

Ā 

(261,790)

Ā 

(29,046)

Other liabilities

Ā 

1,876,780

Ā 

(236,449)

Net cash used in (generated from) operating activities

Ā 

46,723,719

Ā 

8,462,916

Ā 

Ā 

Ā 

Ā 

Ā 

Cash flow from investing activities

Ā 

Ā 

Ā 

Ā 

Proceeds (payments) for investment in associates.

Ā 

-

Ā 

(158,360)

Payment for purchases of property, equipment and branches constructions

Ā 

(76,753)

Ā 

(347,656)

Proceeds from selling property and equipment

Ā 

50

Ā 

1,250

Proceeds from redemption of financial assets at amortized cost

Ā 

2,609,283

Ā 

346,898

Payment for purchases of financial assets at amortized cost

Ā 

(2,430,124)

Ā 

(3,844)

Payment for purchases of financial assets at fair value through OCI

Ā 

(68,194,467)

Ā 

(55,216,492)

Proceeds from selling financial assets at fair value through OCI

Ā 

78,071,439

Ā 

34,497,956

Net cash generated from (used in) investing activities

Ā 

9,979,428

Ā 

(20,880,248)

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Separate Interim Cash flows for the period ended March 31, 2022 (Cont.)

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2022

Ā 

Mar. 31, 2021

Ā 

Ā 

EGP Thousands

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Cash flow from financing activities

Ā 

Ā 

Ā 

Ā 

Received (Repaid) in long term loans

Ā 

1,035,994

Ā 

(14,410)

Dividend paid

Ā 

(4,410,322)

Ā 

(1,360,652)

Issued debt instruments

Ā 

253,338

Ā 

-

Capital increase

Ā 

122,716

Ā 

-

Net cash generated from (used in) financing activities

Ā 

(2,998,274)

Ā 

(1,375,062)

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

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

Ā 

53,704,873

Ā 

(13,792,394)

Beginning balance of cash and cash equivalent

Ā 

60,891,899

Ā 

75,965,247

Cash and cash equivalent at the end of the period

Ā 

114,596,772

Ā 

62,172,853

Ā 

Ā 

Ā 

Ā 

Ā 

Cash and cash equivalent comprise:

Ā 

Ā 

Ā 

Ā 

Cash and balances at the central bank

Ā 

30,471,454

Ā 

21,580,813

Due from banks

Ā 

120,943,837

Ā 

97,088,303

Treasury bills and other governmental notes

10

40,371,415

Ā 

52,339,135

Obligatory reserve balance with CBE

Ā 

(26,030,335)

Ā 

(15,671,568)

Due from banks with maturities more than three months

Ā 

(10,245,456)

Ā 

(40,498,431)

Treasury bills with maturity more than three months

Ā 

(40,914,143)

Ā 

(52,665,399)

Total cash and cash equivalent

Ā 

114,596,772

Ā 

62,172,853

'

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Separate Interim statement of changes in shareholders' equity for the period ended March 31, 2021

Ā 

Ā 

Ā 

Ā 

Ā 

Mar. 31, 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

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

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

Ā 

Ā 

Ā 

Ā 

Ā 

Capital increase

-

-

-

-

-

-

-

-

-

-

Ā 

Ā 

Ā 

Ā 

Ā 

Transferred to reserves

-

514,939

8,420,479

-

1,094

-

-

(8,936,512)

-

-

Ā 

Ā 

Ā 

Ā 

Ā 

Dividend paid

-

-

-

-

-

-

-

(1,360,652)

-

(1,360,652)

Ā 

Ā 

Ā 

Ā 

Ā 

Net profit of the year

-

-

-

-

-

-

-

2,876,300

-

2,876,300

Ā 

Ā 

Ā 

Ā 

Ā 

Transferred from reserve of financial assets at fair value through OCI

-

-

-

-

-

(104,406)

-

104,406

-

-

Ā 

Ā 

Ā 

Ā 

Ā 

Transferred from previous years' outstanding balances

-

-

-

-

-

-

-

8,333

-

8,333

Ā 

Ā 

Ā 

Ā 

Ā 

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

-

-

-

-

-

(1,674,309)

-

-

-

(1,674,309)

Ā 

Ā 

Ā 

Ā 

Ā 

Transferred (from) to bank risk reserve

-

-

-

-

-

-

2,718

(2,718)

-

-

Ā 

Ā 

Ā 

Ā 

Ā 

ECL for impairment of debt instruments investments

-

-

-

-

-

(14,644)

-

-

-

(14,644)

Ā 

Ā 

Ā 

Ā 

Ā 

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

162,451

162,451

Ā 

Ā 

Ā 

Ā 

Ā 

Ending balance

14,776,813

3,293,074

33,186,137

1,549,445

16,000

2,177,628

9,141

3,166,768

1,227,099

59,402,105

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Separate Interim statement of changes in shareholders' equity for the period ended March 31, 2022

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Mar. 31, 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

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Beginning balance

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

Ā 

Ā 

Ā 

Ā 

Ā 

Capital increase

122,716

-

502,922

-

-

-

-

-

(502,922)

122,716

Ā 

Ā 

Ā 

Ā 

Ā 

Transferred to reserves

-

670,872

8,333,404

-

2,947

-

-

(9,007,223)

-

-

Ā 

Ā 

Ā 

Ā 

Ā 

Dividend paid

-

-

-

-

-

-

-

(4,410,322)

-

(4,410,322)

Ā 

Ā 

Ā 

Ā 

Ā 

Net profit of the year

-

-

-

-

-

-

-

4,239,592

-

4,239,592

Ā 

Ā 

Ā 

Ā 

Ā 

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

-

-

-

-

-

(4,201)

-

4,201

-

-

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

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

-

-

-

-

-

(3,958,945)

-

-

-

(3,958,945)

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Transferred (from) to banking risk reserve

-

-

-

-

-

-

2,840

(2,840)

-

-

Ā 

Ā 

Ā 

Ā 

Ā 

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

-

-

-

-

-

101,561

-

-

-

101,561

Ā 

Ā 

Ā 

Ā 

Ā 

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

175,235

175,235

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ending balance

19,825,134

3,963,946

37,096,858

1,549,445

18,947

(3,222,354)

11,981

4,607,343

1,346,705

65,198,005

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Consolidated Interim Balance Sheet as at March 31, 2022

Ā 

Ā 

Notes

Mar. 31, 2022

Ā 

Dec. 31, 2021

Ā 

Ā 

Ā 

EGP Thousands

Ā 

EGP Thousands

Ā 

Ā 

Assets

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Cash and balances at the central bank

8

30,581,505

Ā 

43,492,248

Ā 

Ā 

Due from banks

9

121,082,311

Ā 

80,141,769

Ā 

Ā 

Loans and advances to banks, net

11

364,470

Ā 

312,216

Ā 

Ā 

Loans and advances to customers, net

12

158,490,232

Ā 

145,575,243

Ā 

Ā 

Derivative financial instruments

Ā 

884,030

Ā 

225,376

Ā 

Ā 

Investments

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

- Financial Assets at Fair Value through P&L

13

1,648

Ā 

240,987

Ā 

Ā 

- Financial Assets at Fair Value through OCI

13

180,352,612

Ā 

193,198,894

Ā 

Ā 

- Amortized cost

13

20,412,726

Ā 

20,547,465

Ā 

Ā 

- Investments in associates

14

208,156

Ā 

205,315

Ā 

Ā 

Other assets

15

9,618,567

Ā 

11,207,128

Ā 

Ā 

Goodwill

26

127,211

Ā 

137,525

Ā 

Ā 

Intangible assets

27

31,963

Ā 

34,554

Ā 

Ā 

Deferred tax assets (Liabilities)

Ā 

308,421

Ā 

456,002

Ā 

Ā 

Property and equipment

16

2,352,247

Ā 

2,461,116

Ā 

Ā 

Total assets

Ā 

524,816,099

Ā 

498,235,838

Ā 

Ā 

Liabilities and equity

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Liabilities

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Due to banks

17

3,725,995

Ā 

866,056

Ā 

Ā 

Due to customers

18

429,022,053

Ā 

407,241,538

Ā 

Ā 

Derivative financial instruments

Ā 

243,629

Ā 

265,470

Ā 

Ā 

Current tax liabilities

Ā 

1,113,423

Ā 

2,234,985

Ā 

Ā 

Other liabilities

19

12,181,434

Ā 

8,085,545

Ā 

Ā 

Issued debt instruments

20

1,810,601

Ā 

1,557,263

Ā 

Ā 

Other loans

Ā 

6,176,776

Ā 

5,140,782

Ā 

Ā 

Other Provisions

21

4,855,636

Ā 

3,541,462

Ā 

Ā 

Total liabilities

Ā 

459,129,547

Ā 

428,933,101

Ā 

Ā 

Equity

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Issued and paid up capital

Ā 

19,825,134

Ā 

19,702,418

Ā 

Ā 

Reserves

Ā 

39,481,063

Ā 

33,774,990

Ā 

Ā 

Reserve for employee stock ownership plan (ESOP)

Ā 

1,346,705

Ā 

1,674,392

Ā 

Ā 

Retained earnings *

Ā 

4,524,449

Ā 

13,696,402

Ā 

Ā 

Total equity and net profit for the period / year

Ā 

65,177,351

Ā 

68,848,202

Ā 

Ā 

Minority interest

509,201

Ā 

454,535

Ā 

Total minority interest, equity and net profit for the period / year

Ā 

65,686,552

Ā 

69,302,737

Ā 

Ā 

Total liabilities and equity

Ā 

524,816,099

Ā 

498,235,838

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

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

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

(Review report attached)

Ā 

Ā 

Ā 

Ā 

Ā 

*

Including net profit for the current period

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Hussein Abaza

Sherif Samy

Ā 

CEO & Managing Director

Ā 

Chairman

Ā 

Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Consolidated Interim Income Statement for the period ended March 31, 2022

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Notes

Ā 

Ā 

Mar. 31, 2022

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2021

Ā 

Ā 

Ā 

Ā 

Ā 

EGP Thousands

Ā 

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Interest and similar income

Ā 

Ā 

12,006,043

Ā 

Ā 

10,121,709

Ā 

Interest and similar expense

Ā 

Ā 

(5,288,771)

Ā 

Ā 

(4,444,196)

Ā 

Net interest income

Ā 

Ā 

6,717,272

Ā 

Ā 

5,677,513

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Fee and commission income

Ā 

Ā 

1,203,252

Ā 

Ā 

844,263

Ā 

Fee and commission expense

Ā 

Ā 

(515,125)

Ā 

Ā 

(333,668)

Ā 

Net fee and commission income

Ā 

Ā 

688,127

Ā 

Ā 

510,595

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Dividend income

Ā 

Ā 

37,800

Ā 

Ā 

91

Ā 

Net trading income

5

Ā 

732,821

Ā 

Ā 

112,718

Ā 

Profits (Losses) on financial investments

13

Ā 

1,040,297

Ā 

Ā 

493,655

Ā 

Administrative expenses

Ā 

Ā 

(1,670,887)

Ā 

Ā 

(1,475,077)

Ā 

Other operating (expenses) income

6

Ā 

(1,431,967)

Ā 

Ā 

(526,620)

Ā 

Goodwill amortization

26

Ā 

(10,314)

Ā 

Ā 

(10,314)

Ā 

Intangible assets amortization

27

Ā 

(2,591)

Ā 

Ā 

(2,591)

Ā 

Impairment release (charges) for credit losses

Ā 

Ā 

38,692

Ā 

Ā 

(702,082)

Ā 

Bank's share in the profits of associates

Ā 

Ā 

2,841

Ā 

Ā 

11,061

Ā 

Profit before income tax

Ā 

Ā 

6,142,091

Ā 

Ā 

4,088,949

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Income tax expense

Ā 

Ā 

(1,372,939)

Ā 

Ā 

(1,209,247)

Ā 

Deferred tax assets (Liabilities)

Ā 

Ā 

(509,534)

Ā 

Ā 

(6,239)

Ā 

Net profit for the period

Ā 

Ā 

4,259,618

Ā 

Ā 

2,873,463

Ā 

Minority interest

Ā 

Ā 

15,387

Ā 

Ā 

419

Ā 

Bank shareholders

Ā 

Ā 

4,244,231

Ā 

Ā 

2,873,044

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Earning per share

7

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Basic

Ā 

Ā 

1.90

Ā 

Ā 

1.29

Ā 

Diluted

Ā 

Ā 

1.87

Ā 

Ā 

1.27

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Hussein Abaza

Ā 

Ā 

Ā 

Ā 

Sherif Samy

Ā 

Ā 

CEO & Managing Director

Ā 

Ā 

Ā 

Ā 

Chairman

Ā 

Ā Ā Ā Ā Ā Ā Ā Ā Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Consolidated Interim statement of Comprehensive Income for the period ended March 31 2022

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2022

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2021

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

EGP Thousands

Ā 

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Net profit for the period

Ā 

Ā 

4,259,618

Ā 

Ā 

2,873,463

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

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

Ā 

Ā 

(3,961,167)

Ā 

Ā 

(1,674,309)

Ā 

Ā 

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

Ā 

Ā 

(4,201)

Ā 

Ā 

(104,406)

Ā 

Ā 

Cumulative foreign currencies translation differences

Ā 

Ā 

52,636

Ā 

Ā 

(3,320)

Ā 

Ā 

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

Ā 

Ā 

101,602

Ā 

Ā 

(14,644)

Ā 

Ā 

Total other comprehensive income

Ā 

Ā 

448,488

Ā 

Ā 

1,076,784

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

As follows:

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Bank's shareholders

Ā 

Ā 

433,101

Ā 

Ā 

1,076,365

Ā 

Ā 

Minority interest

Ā 

Ā 

15,387

Ā 

Ā 

419

Ā 

Ā 

Total comprehensive income for the period

Ā 

Ā 

448,488

Ā 

Ā 

1,076,784

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Consolidated Interim Cash flows for the period ended March 31 2022

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Notes

Mar. 31, 2022

Ā 

Mar. 31, 2021

Ā 

Ā 

EGP Thousands

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Cash flow from operating activities

Ā 

Ā 

Ā 

Ā 

Profit before income tax from continued operations

Ā 

6,142,091

Ā 

4,088,949

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

Ā 

Ā 

Ā 

Ā 

Fixed assets depreciation

16

223,781

Ā 

194,609

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

Ā 

(145,266)

Ā 

720,756

Other provisions charges

21

1,036,252

Ā 

114,109

Impairment charge for credit losses (due from banks)

Ā 

4,776

Ā 

(4,030)

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

Ā 

101,798

Ā 

(14,644)

Impairment (Released) charge for other assets

Ā 

(277,768)

Ā 

12,676

Exchange revaluation differences for financial assets at fair value through OCI

Ā 

63

Ā 

23,042

Goodwill amortization

26

10,314

Ā 

37,819

Intangible assets amortization

27

2,591

Ā 

9,502

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

Ā 

-

Ā 

(72,957)

Utilization of other provisions

21

(156)

Ā 

(43,518)

Other provisions no longer used

21

(385)

Ā 

(5,872)

Exchange differences of other provisions

21

278,463

Ā 

(15,271)

Profits from selling property and equipment

Ā 

(50)

Ā 

(1,250)

Losses (profits) from selling financial investments

13

(1,040,297)

Ā 

(420,698)

Shares based payments

Ā 

175,235

Ā 

162,451

Bank's share in the profits of associates

Ā 

(2,841)

Ā 

(11,061)

Operating losses (profits) before changes in operating assets and liabilities

Ā 

6,508,601

Ā 

4,774,612

Ā 

Ā 

Ā 

Ā 

Ā 

Net decrease (increase) in assets and liabilities

Ā 

Ā 

Ā 

Ā 

Due from banks

Ā 

25,468,271

Ā 

(12,278,859)

Financial assets at fair value through P&L

13

239,339

Ā 

18,839

Derivative financial instruments

Ā 

(680,085)

Ā 

(66,183)

Loans and advances to banks and customers

11 - 12

(12,821,977)

Ā 

(2,178,284)

Other assets

Ā 

1,844,416

Ā 

(371,049)

Due to banks

17

2,859,939

Ā 

(6,304,086)

Due to customers

18

21,780,515

Ā 

25,079,066

Income tax obligations paid

Ā 

(259,516)

Ā 

(29,046)

Other liabilities

Ā 

1,860,904

Ā 

(25,774)

Net cash used in (generated from) operating activities

Ā 

46,800,407

Ā 

8,619,236

Ā 

Ā 

Ā 

Ā 

Ā 

Cash flow from investing activities

Ā 

Ā 

Ā 

Ā 

Proceeds (payments) for investment in associates.

Ā 

-

Ā 

(158,360)

Payment for purchases of property, equipment and branches constructions

Ā 

(92,999)

Ā 

(348,974)

Proceeds from selling property and equipment

Ā 

50

Ā 

1,250

Proceeds from redemption of financial assets at amortized cost

Ā 

2,609,283

Ā 

452,910

Payment for purchases of financial assets at amortized cost

Ā 

(2,474,553)

Ā 

(237,609)

Payment for purchases of financial assets at fair value through OCI

Ā 

(68,625,535)

Ā 

(55,600,830)

Proceeds from selling financial assets at fair value through OCI

Ā 

78,456,150

Ā 

33,585,657

Net cash generated from (used in) investing activities

Ā 

9,872,396

Ā 

(22,305,956)

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Consolidated Interim Cash flows for the period ended March 31, 2022 (Cont.)

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2022

Ā 

Mar. 31, 2021

Ā 

Ā 

EGP Thousands

Ā 

EGP Thousands

Ā 

Ā 

Ā 

Ā 

Ā 

Cash flow from financing activities

Ā 

Ā 

Ā 

Ā 

Received (Repaid) in long term loans

Ā 

1,035,994

Ā 

(14,410)

Dividend paid

Ā 

(4,410,322)

Ā 

(1,360,652)

Issued debt instruments

Ā 

253,338

Ā 

-

Capital increase

Ā 

122,716

Ā 

-

Net cash generated from (used in) financing activities

Ā 

(2,998,274)

Ā 

(1,375,062)

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

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

Ā 

53,674,529

Ā 

(15,061,782)

Beginning balance of cash and cash equivalent

Ā 

61,065,822

Ā 

75,796,375

Cash and cash equivalent at the end of the period

Ā 

114,740,351

Ā 

60,734,593

Ā 

Ā 

Ā 

Ā 

Ā 

Cash and cash equivalent comprise:

Ā 

Ā 

Ā 

Ā 

Cash and balances at the central bank

Ā 

30,581,505

Ā 

21,800,293

Due from banks

Ā 

121,128,084

Ā 

97,518,428

Treasury bills and other governmental notes

10

40,379,000

Ā 

52,371,207

Obligatory reserve balance with CBE

Ā 

(26,188,639)

Ā 

(15,805,888)

Due from banks with maturities more than three months

Ā 

(10,245,456)

Ā 

(42,484,048)

Treasury bills with maturity more than three months

Ā 

(40,914,143)

Ā 

(52,665,399)

Total cash and cash equivalent

Ā 

114,740,351

Ā 

60,734,593

'

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Consolidated Interim statement of changes in shareholders' equity for the period ended March 31, 2021

Ā 

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2021

Issued and paid up capital

Legal reserve

General reserve

General risk reserve

Reserve for transactions under common control

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Cumulative foreign currencies translation differences

Total Shareholders' Equity

Minority Interest

Total

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

EGP Thousands

Ā 

Beginning balance

14,776,813

2,778,135

24,765,658

1,549,445

8,183

14,906

3,975,514

6,423

10,539,715

1,064,648

(3,684)

59,475,756

483,055

59,958,811

Ā 

Transferred to reserves

-

514,939

8,420,479

-

-

1,094

-

-

(8,936,512)

-

-

-

-

-

Ā 

Dividend paid

-

-

-

-

-

-

-

-

(1,360,652)

-

-

(1,360,652)

-

(1,360,652)

Ā 

Net profit of the year

-

-

-

-

-

-

-

-

2,873,044

-

-

2,873,044

419

2,873,463

Ā 

Transferred from reserve of financial assets at fair value through OCI

-

-

-

-

-

-

(104,406)

-

104,406

-

-

-

-

-

Ā 

Transferred from previous years' outstanding balances

-

-

-

-

-

-

-

-

8,333

-

-

8,333

-

8,333

Ā 

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

-

-

-

-

-

-

(1,674,309)

-

-

-

-

(1,674,309)

-

(1,674,309)

Ā 

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

2,718

(2,718)

-

-

-

-

-

Ā 

ECL for impairment of debt instruments investments

-

-

-

-

-

-

(14,644)

-

-

-

-

(14,644)

-

(14,644)

Ā 

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

162,451

-

162,451

-

162,451

Ā 

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

364

364

-

364

Ā 

Balance at the end of the period

14,776,813

3,293,074

33,186,137

1,549,445

8,183

16,000

2,182,155

9,141

3,225,616

1,227,099

(3,320)

59,470,343

483,474

59,953,817

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Condensed Consolidated Interim statement of changes in shareholders' equity for the period ended March 31, 2022

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Mar. 31, 2022

Issued and paid up capital

Legal reserve

General reserve

General risk reserve

Reserve for transactions under common control

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Cumulative foreign currencies translation differences

Total Shareholders' Equity

Minority Interest

Total

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

EGP Thousands

Ā 

Beginning balance

19,702,418

3,293,074

28,260,532

1,550,906

8,183

16,000

641,372

9,141

13,696,402

1,674,392

(4,218)

68,848,202

454,535

69,302,737

Ā 

Capital increase

122,716

-

502,922

-

-

-

-

-

-

(502,922)

-

122,716

-

122,716

Ā 

Transferred to reserves

-

670,872

8,333,404

-

-

2,947

-

-

(9,007,223)

-

-

-

-

-

Ā 

Dividend paid

-

-

-

-

-

-

-

-

(4,410,322)

-

-

(4,410,322)

-

(4,410,322)

Ā 

Net profit of the year

-

-

-

-

-

-

-

-

4,244,231

-

-

4,244,231

15,387

4,259,618

Ā 

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

-

-

-

-

-

-

(4,201)

-

4,201

-

-

-

-

-

Ā 

Ā 

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

-

-

-

-

-

-

(3,961,167)

-

-

-

-

(3,961,167)

-

(3,961,167)

Ā 

Ā 

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

2,840

(2,840)

-

-

-

-

-

Ā 

Ā 

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

-

-

-

-

-

-

101,602

-

-

-

-

101,602

-

101,602

Ā 

Ā 

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

175,235

-

175,235

-

175,235

Ā 

Ā 

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

56,854

56,854

39,279

96,133

Ā 

Balance at the end of the period

19,825,134

3,963,946

37,096,858

1,550,906

8,183

18,947

(3,222,394)

11,981

4,524,449

1,346,705

52,636

65,177,351

509,201

65,686,552

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

Ā 

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Ā 
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QRFGCGDSCDBDGDU
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