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

Condensed Separate Interim Balance Sheet as at September 30, 2021

Notes

Sep. 30, 2021

Dec. 31, 2020

EGP Thousands

EGP Thousands

Assets

Cash and balances at the central bank

7

33,207,606

33,572,597

Due from banks

8

71,953,894

86,997,034

Loans and advances to banks, net

10

-

776,980

Loans and advances to customers, net

11

139,110,172

118,854,880

Derivative financial instruments

266,997

248,759

Investments

- Financial Assets at Fair Value through P&L

12

206,699

359,959

- Financial Assets at Fair Value through OCI

12

211,854,018

147,646,432

- Amortized cost

12

20,299,222

25,020,917

- Investments in associates and subsidiaries

13

1,023,350

874,348

Other assets

10,515,647

9,095,212

Deferred tax assets (Liabilities)

449,617

437,772

Property and equipment

14

2,456,076

2,259,940

Total assets

491,343,298

426,144,830

Liabilities and equity

Liabilities

Due to banks

15

1,542,750

8,815,561

Due to customers

16

403,085,553

340,086,524

Derivative financial instruments

324,863

331,073

Current tax liabilities

1,962,488

859,582

Other liabilities

7,945,461

5,679,266

Issued debt instruments

17

1,556,032

-

Other loans

5,633,101

7,746,946

Provisions

18

3,341,155

3,221,252

Total liabilities

425,391,403

366,740,204

Equity

Issued and paid up capital

19,702,418

14,776,813

Reserves

34,449,076

33,085,554

Reserve for employee stock ownership plan (ESOP)

1,542,292

1,064,648

Retained earnings *

10,258,109

10,477,611

Total equity and net profit for the period / year

65,951,895

59,404,626

Total liabilities and equity

491,343,298

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 & Managing Director

Chairman

Condensed Separate Interim Income Statement for the period ended September 30, 2021

Notes

Last 3 Months

Last 9 Months

Last 3 Months

Last 9 Months

Sep. 30, 2021

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2020

EGP Thousands

EGP Thousands

EGP Thousands

EGP Thousands

Interest and similar income

11,593,432

32,568,923

10,576,974

31,499,616

Interest and similar expense

(5,160,860)

(14,463,322)

(4,220,982)

(12,666,727)

Net interest income

6,432,572

18,105,601

6,355,992

18,832,889

Fee and commission income

1,096,988

2,895,435

660,822

2,140,039

Fee and commission expense

(442,737)

(1,129,866)

(310,289)

(803,346)

Net fee and commission income

654,251

1,765,569

350,533

1,336,693

Dividend income

18,854

82,426

62,431

88,393

Net trading income

5

210,117

484,774

49,736

226,967

Profits (Losses) on financial investments

12

56,589

634,108

53,913

885,918

Administrative expenses

(1,463,520)

(4,382,463)

(1,339,447)

(4,184,345)

Other operating (expenses) income

(252,886)

(1,366,178)

(186,143)

(2,033,630)

Impairment release (charges) for credit losses

(306,694)

(1,325,770)

(1,602,505)

(3,862,159)

Profit before income tax

5,349,283

13,998,067

3,744,510

11,290,726

Income tax expense

(1,524,957)

(4,115,227)

(1,306,332)

(3,958,540)

Deferred tax assets (Liabilities)

(6,983)

11,845

(44,220)

63,381

Net profit for the period

3,817,343

9,894,685

2,393,958

7,395,567

Earning per share

6

Basic

1.71

4.44

1.08

3.34

Diluted

1.70

4.42

1.07

3.32

Hussein Abaza

Sherif Samy

CEO & Managing Director

Chairman

Condensed Separate Interim statement of Comprehensive Income for the period ended September 30, 2021

Last 3 Months

Last 9 Months

Last 3 Months

Last 9 Months

Sep. 30, 2021

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2020

EGP Thousands

EGP Thousands

EGP Thousands

EGP Thousands

Net profit for the period

3,817,343

9,894,685

2,393,958

7,395,567

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

(700,186)

(2,374,495)

(807,000)

(2,290,581)

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

(72,956)

(177,362)

(21,575)

(76,717)

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

(83,602)

(98,246)

(2,320)

88,192

Total comprehensive income for the period

2,960,599

7,244,582

1,563,063

5,116,461

Condensed Separate Interim Cash flows for the period ended September 30, 2021

Notes

Sep. 30, 2021

Sep. 30, 2020

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax

13,998,067

11,290,726

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

Fixed assets depreciation

14

636,413

503,005

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

1,385,835

3,761,572

Other provisions charges

18

190,858

972,522

Impairment charge for credit losses (due from banks)

38,181

12,395

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

(98,246)

88,192

Impairment (Released) charge for other assets

31,975

56,245

Exchange revaluation differences for financial assets at fair value through OCI

40,050

238,906

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

-

79,126

Utilization of other provisions

18

(44,978)

(1,479)

Other provisions no longer used

18

(12,255)

(6,022)

Exchange differences of other provisions

18

(13,722)

(17,670)

Losses (profits) from selling property, plant and equipment

(2,124)

(872)

Losses (profits) from selling financial investments

12

(643,467)

(979,144)

Shares based payments

477,644

447,694

Impairment (Released) charges of investments in associates and subsidiaries

9,359

14,100

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

15,993,590

16,459,296

Net decrease (increase) in assets and liabilities

Due from banks

(272,238)

(5,824,055)

Financial assets at fair value through P&L

12

153,260

74,562

Derivative financial instruments

(24,448)

(4,144)

Loans and advances to banks and customers

10 - 11

(20,847,787)

(2,311,001)

Other assets

(1,631,518)

653,639

Due to banks

15

(7,272,811)

(2,999,346)

Due to customers

16

62,999,029

26,727,228

Income tax obligations paid

(2,152,739)

(4,389,254)

Other liabilities

1,414,946

(4,645,456)

Net cash used in (generated from) operating activities

48,359,284

23,741,469

Cash flow from investing activities

Proceeds from investments in associates.

-

750

Proceeds (payments) for investment in associates.

(158,360)

(680,836)

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

(669,801)

(809,475)

Proceeds from selling property, plant and equipment

2,124

872

Proceeds from redemption of financial assets at amortized cost

4,725,376

37,493,345

Payment for purchases of financial assets at amortized cost

(3,844)

-

Payment for purchases of financial assets at fair value through OCI

(207,918,546)

(55,656,650)

Proceeds from selling financial assets at fair value through OCI

146,303,855

24,096,252

Net cash generated from (used in) investing activities

(57,719,196)

4,444,258

Cash flow from financing activities

Received (Repaid) in long term loans

(2,113,845)

4,492,249

Dividend paid

(1,360,652)

(3,370,464)

Issued debt instruments

1,556,032

-

Capital increase

-

85,992

Net cash generated from (used in) financing activities

(1,918,465)

1,207,777

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

(11,278,377)

29,393,504

Beginning balance of cash and cash equivalent

75,965,247

22,895,017

Cash and cash equivalent at the end of the period

64,686,870

52,288,521

Cash and cash equivalent comprise:

Cash and balances at the central bank

33,207,606

35,579,884

Due from banks

72,015,406

56,274,241

Treasury bills and other governmental notes

9

65,654,913

31,967,018

Obligatory reserve balance with CBE

(27,183,002)

(29,856,359)

Due from banks with maturities more than three months

(16,980,376)

(8,958,909)

Treasury bills with maturity more than three months

(62,027,677)

(32,717,354)

Total cash and cash equivalent

64,686,870

52,288,521

Condensed Separate Interim statement of changes in shareholders' equity for the period ended September 30, 2020

Sep. 30, 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

Capital increase

85,992

-

-

-

-

-

-

-

-

85,992

Transferred to reserves

-

590,106

7,840,287

-

1,440

-

-

(8,431,833)

-

-

Dividend paid

-

-

-

-

-

-

-

(3,370,464)

-

(3,370,464)

Net profit for the period

-

-

-

-

-

-

-

7,395,567

-

7,395,567

Transferred from reserve of financial assets at fair value through OCI

-

-

-

-

-

(76,717)

-

76,717

-

-

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

-

-

-

-

-

(2,290,581)

-

-

-

(2,290,581)

Transferred (from) to bank risk reserve

-

-

-

-

-

-

1,259

(1,259)

-

-

ECL for impairment of debt instruments investments

-

-

-

-

-

88,192

-

-

-

88,192

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

447,694

447,694

Ending balance

14,776,813

2,778,135

24,314,716

1,549,445

14,906

1,832,675

6,423

7,472,283

1,410,846

54,156,242

Condensed Separate Interim statement of changes in shareholders' equity for the period ended September 30, 2021

Sep. 30, 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

Capital increase

4,925,605

-

(4,925,605)

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

9,894,685

-

9,894,685

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

-

-

-

-

-

(177,362)

-

177,362

-

-

Transferred from previous years' outstanding balances

-

-

-

-

-

-

-

8,333

-

8,333

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

-

-

-

-

-

(2,374,495)

-

-

-

(2,374,495)

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

-

-

-

-

-

(98,246)

-

-

-

(98,246)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

477,644

477,644

Ending balance

19,702,418

3,293,074

28,260,532

1,549,445

16,000

1,320,884

9,141

10,258,109

1,542,292

65,951,895