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

Notes

Mar. 31, 2019

Dec. 31, 2018

EGP Thousands

EGP Thousands

Assets

Cash and balances with central bank

15

24,741,584

 20,058,974

Due from banks

16

51,538,024

 46,518,892

Loans and advances to banks, net

18

241,873

 67,703

Loans and advances to customers, net

19

112,253,470

 106,309,205

Derivative financial instruments

20

150,424

 52,289

Financial investments securities

- Financial investments securities

21

149,898,821

 157,585,611

- Investments in associates

22

106,558

 106,558

Other assets

23

10,372,328

 9,563,018

Intangible assets

40

206,163

 238,715

Deferred tax assets (Liabilities)

31

419,450

 308,370

Property, plant and equipment

24

1,754,541

 1,651,875

Total assets

351,683,236

 342,461,210

Liabilities and equity

Liabilities

Due to banks

25

 3,338,516

 7,259,819

Due to customers

26

 293,349,773

 285,296,869

Derivative financial instruments

20

 174,198

 132,858

Current tax liabilities

 1,090,009

 3,625,579

Other liabilities

28

 9,989,413

 6,501,553

Other loans

27

 3,606,988

 3,721,529

Provisions

29

 1,496,939

 1,694,607

Total liabilities

 313,045,836

 308,232,814

Equity

Issued and paid up capital

30

 14,585,408

 11,668,326

Reserves

33

 20,466,737

 12,184,667

Reserve for employee stock ownership plan (ESOP)

33

 862,320

 738,320

Retained earnings *

33

 2,722,935

 9,637,083

Total equity

 38,637,400

 34,228,396

Total liabilities and equity

 351,683,236

 342,461,210

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

(Review report attached)

Including net profit for the current period

Consolidated income statement for the period ended March 31, 2019

Mar. 31, 2019

Mar. 31, 2018

EGP Thousands

EGP Thousands

Net profit for the period

2,641,607

2,021,347

Reserve for financial assets at fair value through OCI

2,335,582

(603,484)

Total other comprehensive income for the period

4,977,189

1,417,863

Consolidated cash flow for the period ended March 31, 2019

Notes

Mar. 31, 2019

Mar. 31, 2018

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax from continued operations

3,757,027

2,873,076

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

Fixed assets depreciation

24

131,898

94,089

Impairment charge for credit losses

12

634,951

320,232

Other provisions charges

29

2,077

26,048

Provisions charges - due from banks

12

(7,102)

-

Provisions charges - financial investments

12

(107,122)

-

Impairment charge for other assets

23

24,814

-

Exchange revaluation differences for financial assets at fair value through OCI

21

334,394

39,053

Intangible assets amortization

40

32,552

32,552

Impairment charge financial assets at fair value through OCI

21

45,664

(16)

Exchange differences in financial investments in subsidiary

22

1,485

-

Utilization of other provisions

29

2,461

245

Other provisions no longer used

29

(164,335)

-

Exchange differences of other provisions

29

(37,871)

2,578

(Profits) losses from selling financial investments

21

(52,041)

(146,635)

Shares based payments

124,000

107,302

Bank's share in the profits of associates

-

(3,709)

Operating profits before changes in operating assets and liabilities

4,722,852

3,344,815

Net decrease (increase) in assets and liabilities

Due from banks

16

(17,549,341)

(29,978,825)

Treasury bills and other governmental notes

41

15,781,350

8,624,987

Financial assets at fair value through P&L

21

2,180,287

124,989

Derivative financial instruments

20

(47,159)

(5,392)

Loans and advances to banks and customers

18 - 19

(6,035,057)

(7,195,719)

Other assets

42

(587,120)

(1,232,913)

Due to banks

25

(3,921,303)

9,474,440

Due to customers

26

8,052,189

5,354,473

Income tax obligations paid

(3,762,070)

(2,778,973)

Other liabilities

28

3,487,750

2,608,087

Net cash provided from operating activities

2,322,378

(11,660,031)

Cash flow from investing activities

Payment for purchases of associates

-

(10,575)

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

(483,048)

(214,488)

Proceeds from redemption of financial assets at amortized cost

21

33,452,378

2,808,013

Payment for purchases of financial assets at amortized cost

21

(32,834,360)

-

Payment for purchases of financial assets at fair value through OCI

21

(4,493,603)

(10,484,844)

Proceeds from selling financial assets at fair value through OCI

4,617,766

303,449

Net cash used in investing activities

259,133

(7,598,445)

Consolidated cash flow for the period ended March 31, 2019 (Cont.)

Mar. 31, 2019

Mar. 31, 2018

EGP Thousands

EGP Thousands

Cash flow from financing activities

Increase in long term loans

27

(114,541)

13,092

Dividend paid

(2,700,544)

(2,143,177)

Net cash used in (provided from) financing activities

(2,815,085)

(2,130,085)

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

(233,574)

(21,388,561)

Beginning balance of cash and cash equivalent

34,303,645

49,208,837

Cash and cash equivalent at the end of the period

34,070,071

27,820,276

Cash and cash equivalent comprise:

Cash and balances with central bank

15

24,741,584

26,182,232

Due from banks

16

51,538,237

42,306,844

Treasury bills and other governmental notes

17

33,831,714

45,937,458

Obligatory reserve balance with CBE

15

(17,837,693)

(20,421,756)

Due from banks with maturities more than three months

(23,971,797)

(20,155,641)

Treasury bills with maturity more than three months

(34,231,974)

(46,028,861)

Total cash and cash equivalent

34,070,071

27,820,276

Mar. 31, 2019

Issued and paid up capital

Legal reserve

General reserve

General risk reserve*

Special reserve

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

IFRS 9 risk reserve

Retained earnings

Reserve for employee stock ownership plan

Cumulative foreign currencies translation differences

Total Shareholders Equity

Minority Interest

Total

EGP Thousands

Beginning balance

11,668,326

1,710,293

12,776,215

-

20,645

12,421

(3,750,779)

4,323

1,411,549

9,637,083

738,320

-

34,228,396

-

34,228,396

Effect of applying IFRS 9

-

-

-

117,251

-

-

1,889,928

-

-

-

-

-

2,007,179

-

2,007,179

Transferred to general risk reserve

-

-

-

1,432,194

(20,645)

-

-

-

(1,411,549)

-

-

-

-

-

-

Beginning balance after the impact of initial application

11,668,326

1,710,293

12,776,215

1,549,445

-

12,421

(1,860,851)

4,323

-

9,637,083

738,320

-

36,235,575

-

36,235,575

Capital increase

2,917,082

-

(2,917,082)

-

-

-

-

-

-

-

-

-

-

-

-

Transferred to reserves

-

477,736

6,375,589

-

-

1,045

-

-

-

(6,854,370)

-

-

-

-

-

Dividend paid

-

-

-

-

-

-

-

-

-

(2,700,544)

-

-

(2,700,544)

-

(2,700,544)

Net profit of the period

-

-

-

-

-

-

-

-

-

2,641,607

-

-

2,641,607

-

2,641,607

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

-

-

-

-

-

-

2,442,704

-

-

-

-

-

2,442,704

-

2,442,704

Transferred (from) to bank risk reserve

-

-

-

-

-

-

-

841

-

(841)

-

-

-

-

-

Provision for impairment of debt instruments investments

-

-

-

-

-

-

(107,122)

-

-

-

-

-

(107,122)

-

(107,122)

Cost employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

-

124,000

-

124,000

-

124,000

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

-

1,180

1,180

-

1,180

Balance at the end of the period

14,585,408

2,188,029

16,234,722

1,549,445

-

13,466

474,731

5,164

-

2,722,935

862,320

1,180

38,637,400

-

38,637,400

\* The special reserve, general bank risk reserve and IFRS 9 risk reserve - were consolidated in the general risk reserve as per the instructions of the Central Bank of Egypt dated 26 February 2019

\* The initial application impact is LE 109,697 thousand and the tax effect is LE 7,554 thousand