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

Condensed Separate Interim Balance Sheet as at September 30,2020

Notes

Sep. 30, 2020

Dec. 31, 2019

EGP Thousands

EGP Thousands

Assets

Cash and balances at the central bank

7

35,579,884

28,273,962

Due from banks

8

56,245,029

28,353,366

Loans and advances to banks, net

10

19,021

625,264

Loans and advances to customers, net

11

118,479,055

119,321,103

Derivative financial instruments

242,295

216,383

Investments

- Financial Assets at Fair value through P&L

12

344,219

418,781

- Financial Assets at Fair value through OCI

12

119,729,609

89,897,257

- Amortized cost

12

69,732,268

107,225,613

- Investments in associates and subsidiaries

13

836,095

63,953

Other assets

9,331,455

9,747,939

Deferred tax assets (Liabilities)

413,720

350,339

Property, plant and equipment

14

2,213,488

2,202,698

Total assets

413,166,138

386,696,658

Liabilities and equity

Liabilities

Due to banks

15

8,811,261

11,810,607

Due to customers

16

331,210,883

304,483,655

Derivative financial instruments

304,356

282,588

Current tax liabilities

1,359,201

4,639,364

Other liabilities

6,600,480

8,396,487

Other loans

7,764,995

3,272,746

Provisions

17

2,958,720

2,011,369

Total liabilities

359,009,896

334,896,816

Equity

Issued and paid up capital

14,776,813

14,690,821

Reserves

30,496,300

24,342,314

Reserve for employee stock ownership plan (ESOP)

1,410,846

963,152

Retained earnings *

7,472,283

11,803,555

Total equity

54,156,242

51,799,842

Total liabilities and equity

413,166,138

386,696,658

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 September 30, 2020

Last 9 Months

Last 9 Months

Notes

Sep. 30, 2020

Sep. 30, 2019

EGP Thousands

EGP Thousands

Interest and similar income

31,499,616

31,652,305

Interest and similar expense

(12,666,727)

(16,204,157)

Net interest income

18,832,889

15,448,148

Fee and commission income

2,140,039

2,544,996

Fee and commission expense

(803,346)

(857,475)

Net fee and commission income

1,336,693

1,687,521

Dividend income

88,393

22,454

Net trading income

5

226,967

561,877

Profits (Losses) on financial investments

12

885,918

263,132

Administrative expenses

(4,184,345)

(3,885,776)

Other operating (expenses) income

(2,033,630)

(1,015,131)

Intangible assets amortization

-

(97,656)

Impairment release (charges) for credit losses

(3,862,159)

(1,207,315)

Profit before income tax

11,290,726

11,777,254

Income tax expense

(3,958,540)

(3,283,731)

Deferred tax assets (Liabilities)

63,381

47,599

Net profit for the period

7,395,567

8,541,122

Earning per share

6

Basic

4.46

5.15

Diluted

4.44

5.13

Hussein Abaza

Sherif Samy

CEO & Board member

Chairman

Condensed Separate Interim statement of other Comprehensive Income for the period ended September 30, 2020

Last 9 Months

Last 9 Months

Sep. 30, 2020

Sep. 30, 2019

EGP Thousands

EGP Thousands

Net profit for the period

7,395,567

8,541,122

Net change in fair value of instruments measured at fair value through other comprehensive income

(2,290,581)

5,271,372

Transferred from reserve for financial assets at fair value through OCI

(76,717)

-

Expected credit loss for fair value of debt instruments measured at fair value through other comprehensive income

88,192

(71,846)

Total other comprehensive income for the period

5,116,461

13,740,648

Condensed Separate Interim Cash flows for the period ended September 30, 2020

Notes

Sep. 30, 2020

Sep. 30, 2019

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax

11,290,726

11,777,254

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

Fixed assets depreciation

14

503,005

425,637

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

3,761,572

1,256,000

Other provisions charges

17

972,522

12,494

Impairment charge for credit losses (due from banks)

12,395

23,161

Impairment charge for credit losses (financial investments)

88,192

(71,846)

Impairment charge for other assets

56,245

83,213

Exchange revaluation differences for financial assets at fair value through OCI

238,906

1,303,741

Intangible assets amortization

-

97,656

Impairment charge financial assets at fair value through OCI

79,126

45,664

Utilization of other provisions

17

(1,479)

(27,733)

Other provisions no longer used

17

(6,022)

(96,499)

Exchange differences of other provisions

17

(17,670)

(103,531)

(Profits) losses from selling property, plant and equipment

(872)

(1,439)

(Profits) losses from selling financial investments

12

(979,144)

(310,329)

Shares based payments

447,694

371,997

Released (Impairment) charges of investments in associates and subsidiaries

14,100

-

Operating profits before changes in operating assets and liabilities

16,459,296

14,785,440

Net decrease (increase) in assets and liabilities

Due from banks

(5,824,055)

(13,052,086)

Treasury bills and other governmental notes

(4,325,377)

4,974,205

Financial assets at fair value through P&L

12

74,562

2,252,280

Derivative financial instruments

(4,144)

(67,282)

Loans and advances to banks and customers

10 - 11

(2,311,001)

(4,796,325)

Other assets

653,639

247,536

Due to banks

15

(2,999,346)

(5,431,711)

Due to customers

16

26,727,228

22,543,760

Income tax obligations paid

(4,389,254)

(3,625,579)

Other liabilities

(4,645,456)

1,862,133

Net cash used in (generated from) operating activities

19,416,092

19,692,371

Cash flow from investing activities

Proceeds from investments in associates.

750

-

Payments for investment in subsidiaries and associates.

(680,836)

-

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

(809,475)

(1,066,607)

Proceeds from selling property, plant and equipment

872

1,439

Proceeds from redemption of financial assets at amortized cost

37,493,345

33,937,957

Payment for purchases of financial assets at amortized cost

-

(47,344,534)

Payment for purchases of financial assets at fair value through OCI

(51,331,273)

(26,637,577)

Proceeds from selling financial assets at fair value through OCI

24,096,252

5,354,858

Net cash generated from (used in) investing activities

8,769,635

(35,754,464)

Cash flow from financing activities

Increase (decrease) in long term loans

4,492,249

(321,235)

Dividend paid

(3,370,464)

(2,700,544)

Capital increase

85,992

-

Net cash generated from (used in) financing activities

1,207,777

(3,021,779)

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

29,393,504

(19,083,872)

Beginning balance of cash and cash equivalent

22,895,017

34,303,645

Cash and cash equivalent at the end of the period

52,288,521

15,219,773

Cash and cash equivalent comprise:

Cash and balances at the central bank

7

35,579,884

27,205,020

Due from banks

56,274,241

25,629,602

Treasury bills and other governmental notes

9

31,967,018

44,736,504

Obligatory reserve balance with CBE

7

(29,856,359)

(20,770,245)

Due from banks with maturities more than three months

(8,958,909)

(16,541,989)

Treasury bills with maturity more than three months

(32,717,354)

(45,039,119)

Total cash and cash equivalent

52,288,521

15,219,773

Condensed Separate Interim statement of changes in shareholders' equity for the period ended September 30, 2019

Sep. 30, 2019

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

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

-

-

-

-

-

-

-

8,541,122

-

8,541,122

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

-

-

-

-

-

5,271,372

-

-

-

5,271,372

Transferred (from) to bank risk reserve

-

-

-

-

-

-

841

(841)

-

-

ECL for impairment of debt instruments investments

-

-

-

-

-

(71,846)

-

-

-

(71,846)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

371,997

371,997

Ending balance

14,585,408

2,188,029

16,234,722

1,549,445

13,466

3,338,675

5,164

8,541,122

1,110,317

47,566,348

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 for 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)

-

-

Release provision 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