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

Condensed Separate 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

21,580,813

33,572,597

Due from banks

8

97,069,002

86,997,034

Loans and advances to banks, net

10

781,084

776,980

Loans and advances to customers, net

11

120,303,607

118,854,880

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

167,580,005

147,646,432

- Amortized cost

12

24,677,774

25,020,917

- Investments in associates and subsidiaries

13

1,032,708

874,348

Other assets

9,424,894

9,095,212

Deferred tax assets (Liabilities)

431,534

437,772

Property and equipment

14

2,466,612

2,259,940

Total assets

445,979,591

426,144,830

Liabilities and equity

Liabilities

Due to banks

15

2,511,475

8,815,561

Due to customers

16

365,162,571

340,086,524

Derivative financial instruments

306,569

331,073

Current tax liabilities

830,536

859,582

Other liabilities

6,763,064

5,679,266

Other loans

7,732,536

7,746,946

Provisions

17

3,270,735

3,221,252

Total liabilities

386,577,486

366,740,204

Equity

Issued and paid up capital

14,776,813

14,776,813

Reserves

40,231,425

33,085,554

Reserve for employee stock ownership plan (ESOP)

1,227,099

1,064,648

Retained earnings *

3,166,768

10,477,611

Total equity and net profit for the period / year

59,402,105

59,404,626

Total liabilities and equity

445,979,591

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 & Board member

Chairman

Condensed Separate Interim Income Statement for the period ended March 31, 2021

Notes

Mar. 31, 2021

Mar. 31, 2020

EGP Thousands

EGP Thousands

Interest and similar income

10,120,581

10,687,101

Interest and similar expense

(4,444,196)

(4,491,834)

Net interest income

5,676,385

6,195,267

Fee and commission income

844,128

805,413

Fee and commission expense

(333,561)

(305,561)

Net fee and commission income

510,567

499,852

Dividend income

91

-

Net trading income

5

112,718

(5,425)

Profits (Losses) on financial investments

12

493,655

470,150

Administrative expenses

(1,472,944)

(1,523,538)

Other operating (expenses) income

(526,604)

(747,740)

Impairment release (charges) for credit losses

(702,082)

(1,240,110)

Profit before income tax

4,091,786

3,648,456

Income tax expense

(1,209,247)

(1,332,487)

Deferred tax assets (Liabilities)

(6,239)

75,241

Net profit for the period

2,876,300

2,391,210

Earning per share

6

Basic

1.72

1.43

Diluted

1.71

1.42

Hussein Abaza

Sherif Samy

CEO & Board member

Chairman

Condensed Separate 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

2,876,300

2,391,210

Condensed Separate 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

4,091,786

3,648,456

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

114,144

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

Impairment charge financial assets at fair value through OCI

(72,957)

69,863

Exchange differences in financial investments in subsidiary

-

719

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) losses 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

Released (Impairment) charges of investments in associates and subsidiaries

-

14,100

Operating profits before changes in operating assets and liabilities

4,741,224

5,404,079

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

(2,173,587)

2,428,551

Other assets

(284,984)

857,769

Due to banks

15

(6,304,086)

(1,372,684)

Due to customers

16

25,076,047

5,513,465

Income tax obligations paid

(29,046)

(4,639,364)

Other liabilities

(236,449)

(722,423)

Net cash used in (generated from) operating activities

8,462,916

7,820,426

Cash flow from investing activities

Proceeds (payments) for investment in associates.

(158,360)

-

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

(347,656)

(319,089)

Proceeds from selling property, plant and equipment

1,250

94

Proceeds from redemption of financial assets at amortized cost

346,898

45,639,889

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

(55,216,492)

(62,050,349)

Proceeds from selling financial assets at fair value through OCI

34,497,956

54,866,521

Net cash generated from (used in) investing activities

(20,880,248)

(6,808,773)

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 period

(13,792,394)

(2,450,387)

Beginning balance of cash and cash equivalent

75,965,247

22,895,017

Cash and cash equivalent at the end of the period

62,172,853

20,444,630

Cash and cash equivalent comprise:

Cash and balances at the central bank

21,580,813

27,169,495

Due from banks

97,088,303

26,640,005

Treasury bills and other governmental notes

52,339,135

29,091,960

Obligatory reserve balance with CBE

(15,671,568)

(22,186,285)

Due from banks with maturities more than three months

(40,498,431)

(10,415,104)

Treasury bills with maturity more than three months

(52,665,399)

(29,855,441)

Total cash and cash equivalent

62,172,853

20,444,630

Condensed Separate 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

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

-

-

-

-

-

-

-

2,391,210

-

2,391,210

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

-

-

-

-

-

(4,865,970)

-

-

-

(4,865,970)

Transferred (from) to bank risk reserve

-

-

-

-

-

-

1,259

(1,259)

-

-

ECL for impairment of debt instruments investments

-

-

-

-

-

(47,321)

-

-

-

(47,321)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

145,069

145,069

Ending balance

14,690,821

2,778,135

24,314,715

1,549,445

14,906

(801,510)

6,423

2,391,210

1,108,221

46,052,366

Condensed Separate 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

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

-

-

-

-

-

-

-

2,876,300

-

2,876,300

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

-

-

-

-

-

(1,674,309)

-

-

-

(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)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

162,451

162,451

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