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 and subsidiaries

22

 67,148

68,633

Other assets

23

10,372,008

9,563,218

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

 351,643,506

342,423,485

Liabilities and equity

Liabilities

Due to banks

25

3,338,516

7,259,819

Due to customers

26

293,391,921

285,340,472

Derivative financial instruments

20

174,198

132,858

Current tax liabilities

1,090,009

3,625,579

Other liabilities

28

9,989,303

6,501,553

Other loans

27

3,606,988

3,721,529

Provisions

29

1,496,939

1,694,607

Total liabilities

313,087,874

308,276,417

Equity

Issued and paid up capital

30

14,585,408

11,668,326

Reserves

33

20,465,557

12,184,667

Reserve for employee stock ownership plan (ESOP)

33

862,320

738,320

Retained earnings *

33

2,642,347

9,555,755

Total equity

38,555,632

34,147,068

Total liabilities and equity

351,643,506

342,423,485

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

(Review report attached)

*Including net profit for the current period

Separate income statement for the period ended March 31, 2019

Notes

Mar. 31, 2019

Mar. 31, 2018

EGP Thousands

EGP Thousands

Net profit for the period

2,642,347

2,017,638

Reserve for financial assets at fair value through OCI

2,335,582

(603,484)

Total other comprehensive income for the period

4,977,929

1,414,154

Separate 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

3,757,767

2,869,367

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 subidiary

22

1,485

209

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

Operating profits before changes in operating assets and liabilities

4,723,592

3,345,024

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

8,051,449

5,354,264

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 subsidiary and 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)

Separate 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

Total

Beginning balance

11,668,326

1,710,293

12,776,215

-

20,645

12,421

(3,750,779)

4,323

1,411,549

9,555,755

738,320

34,147,068

Effect of applying IFRS 9**

-

-

-

117,251

-

-

1,889,928

-

-

-

-

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

-

9,555,755

738,320

36,154,247

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)

Net profit for the period

-

-

-

-

-

-

-

-

-

2,642,347

-

2,642,347

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

-

-

-

-

-

-

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)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

-

124,000

124,000

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

-

2,642,347

862,320

38,555,632

\* 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 (disclosure in page number 15)**

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