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

Condensed Consolidated Interim Balance Sheet as at March 31, 2021

Notes

Mar. 31, 2021

Dec. 31, 2020

EGP Thousands

EGP Thousands

Assets

Cash and balances at the Central Bank

7

21,800,293

33,768,549

Due from banks

8

97,498,269

87,426,301

Loans and advances to banks, net

10

781,084

776,980

Loans and advances to customers, net

11

121,023,429

119,570,005

Derivative financial instruments

290,438

248,759

Investments

- Financial Assets at Fair value through P&L

12

341,120

359,959

- Financial Assets at Fair value through OCI

12

168,048,353

148,118,372

- Amortized cost

12

24,942,082

25,285,225

- Investments in associates

13

309,292

139,871

Other assets

9,481,630

9,175,525

Goodwill

22

168,468

178,782

Intangible Assets

23

42,329

44,920

Deferred tax assets (Liabilities)

431,534

437,772

Property, plant and equipment

14

2,517,780

2,311,147

Total assets

447,676,101

427,842,167

Liabilities and equity

Liabilities

Due to banks

15

2,513,449

8,817,535

Due to customers

16

366,248,516

341,169,450

Derivative financial instruments

306,569

331,073

Current tax liabilities

830,536

859,582

Other liabilities

6,817,729

5,735,269

Other loans

7,732,536

7,746,946

Provisions

17

3,272,949

3,223,501

Total liabilities

387,722,284

367,883,356

Equity

Issued and paid-up capital

14,776,813

14,776,813

Reserves

40,240,815

33,094,580

Reserve for employee stock ownership plan (ESOP)

1,227,099

1,064,648

Retained earnings *

3,225,616

10,539,715

Total equity and net profit for the period/year

59,470,343

59,475,756

Minority interest

483,474

483,055

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

59,953,817

59,958,811

Total liabilities and equity

447,676,101

427,842,167

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

Condensed Consolidated Interim statement of Comprehensive Income for the period ended March 31, 2021

Mar. 31, 2021

Mar. 31, 2020

EGP Thousands

EGP Thousands

Net profit for the period

2,873,463

2,398,521

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

(1,674,309)

(4,865,970)

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

(104,406)

-

Cumulative foreign currencies translation differences

(3,320)

1,499

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

(14,644)

(47,321)

Total comprehensive income for the period

1,076,784

(2,513,271)

As follows:

Bank's shareholders

1,076,365

(2,513,271)

Minority interest

419

-

Total comprehensive income for the period

1,076,784

(2,513,271)

Condensed Consolidated Interim Cash flows for the period ended March 31, 2021

Notes

Mar. 31, 2021

Mar. 31, 2020

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax from continued operations

4,088,949

3,655,767

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

Fixed assets depreciation

14

194,609

160,538

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

720,756

1,272,649

Other provisions charges

17

114,109

439,410

Impairment charge for credit losses (due from banks)

(4,030)

14,782

Impairment charge for credit losses (financial investments)

(14,644)

(47,321)

Impairment charge for other assets

12,676

13,707

Exchange revaluation differences for financial assets at fair value through OCI

23,042

287,889

Goodwill amortization

22

37,819

-

Intangible assets amortization

23

9,502

-

Impairment charge financial assets at fair value through OCI

(72,957)

69,863

Utilization of other provisions

17

(43,518)

(726)

Other provisions no longer used

17

(5,872)

(38,630)

Exchange differences of other provisions

17

(15,271)

(22,219)

Profits from selling property, plant and equipment

(1,250)

(94)

(Profits) losses from selling financial investments

12

(420,698)

(554,113)

Shares based payments

162,451

145,069

Bank's share in the profits of associates

(11,061)

5,951

Operating profits before changes in operating assets and liabilities

4,774,612

5,402,522

Net decrease (increase) in assets and liabilities

Due from banks

(12,278,859)

211,025

Financial assets at fair value through P&L

12

18,839

104,116

Derivative financial instruments

(66,183)

35,892

Loans and advances to banks and customers

10 - 11

(2,178,284)

2,421,201

Other assets

(371,049)

857,769

Due to banks

15

(6,304,086)

(1,372,684)

Due to customers

16

25,079,066

5,523,887

Income tax obligations paid

(29,046)

(4,639,364)

Other liabilities

(25,774)

(722,192)

Net cash used in (generated from) operating activities

8,619,236

7,822,172

Cash flow from investing activities

Proceeds (payments) for investment in associates.

(158,360)

-

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

(348,974)

(320,835)

Proceeds from selling property, plant and equipment

1,250

94

Proceeds from redemption of financial assets at amortized cost

452,910

45,639,889

Payment for purchases of financial assets at amortized cost

(237,609)

(44,945,839)

Payment for purchases of financial assets at fair value through OCI

(55,600,830)

(62,050,349)

Proceeds from selling financial assets at fair value through OCI

33,585,657

54,866,521

Net cash generated from (used in) investing activities

(22,305,956)

(6,810,519)

Condensed Consolidated Interim Cash flows for the period ended March 31, 2021 (Cont.)

Mar. 31, 2021

Mar. 31, 2020

EGP Thousands

EGP Thousands

Cash flow from financing activities

Received (Repaid) in long term loans

(14,410)

(91,576)

Dividend paid

(1,360,652)

(3,370,464)

Net cash generated from (used in) financing activities

(1,375,062)

(3,462,040)

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

(15,061,782)

(2,450,387)

Beginning balance of cash and cash equivalent

75,796,375

22,895,017

Cash and cash equivalent at the end of the period

60,734,593

20,444,630

Cash and cash equivalent comprise:

Cash and balances at the central bank

21,800,293

27,169,495

Due from banks

97,518,428

26,640,005

Treasury bills and other governmental notes

52,371,207

29,091,960

Obligatory reserve balance with CBE

(15,805,888)

(22,186,285)

Due from banks with maturities more than three months

(42,484,048)

(10,415,104)

Treasury bills with maturity more than three months

(52,665,399)

(29,855,441)

Total cash and cash equivalent

60,734,593

20,444,630

Condensed Consolidated Interim statement of changes in shareholders' equity for the period ended March 31, 2020

Mar. 31, 2020

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

EGP Thousands

Beginning balance

14,690,821

2,188,029

16,474,429

1,549,445

-

13,466

4,111,781

5,164

11,881,657

963,152

2,501

51,880,445

-

51,880,445

Transferred to reserves

-

590,106

7,840,286

-

-

1,440

-

-

(8,431,832)

-

-

-

-

-

Dividend paid

-

-

-

-

-

-

-

-

(3,370,464)

-

-

(3,370,464)

-

(3,370,464)

Net profit of the period

-

-

-

-

-

-

-

-

2,398,521

-

-

2,398,521

-

2,398,521

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

-

-

-

-

-

-

(4,865,970)

-

-

-

-

(4,865,970)

-

(4,865,970)

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

1,259

(1,259)

-

-

-

-

-

ECL for impairment of debt instruments investments

-

-

-

-

-

-

(47,321)

-

-

-

-

(47,321)

-

(47,321)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

145,069

-

145,069

-

145,069

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

666

-

(1,002)

(336)

-

(336)

Balance at the end of the period

14,690,821

2,778,135

24,314,715

1,549,445

-

14,906

(801,510)

6,423

2,477,289

1,108,221

1,499

46,139,944

-

46,139,944

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

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

EGP Thousands

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

Transferred to reserves

-

514,939

8,420,479

-

-

1,094

-

-

(8,936,512)

-

-

-

-

-

Dividend paid

-

-

-

-

-

-

-

-

(1,360,652)

-

-

(1,360,652)

-

(1,360,652)

Minority Interest share

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net profit of the period

-

-

-

-

-

-

-

-

2,873,044

-

-

2,873,044

419

2,873,463

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

-

8,333

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

-

-

-

-

-

-

(1,674,309)

-

-

-

-

(1,674,309)

-

(1,674,309)

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

-

-

-

-

-

-

(14,644)

-

-

-

-

(14,644)

-

(14,644)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

162,451

-

162,451

-

162,451

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

364

364

-

364

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