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

Commercial International Bank (Egypt) S.A.E.

Consolidated Financial Statements

December 31, 2009

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CONSOLIDATED FINANCIAL POSITION

As of December 31, 2009

Amounts in L.E.

Note

Dec. 31, 2009

Dec. 31, 2008

Assets

Cash & Due From Central Bank

5

4,179,256,489

4,473,013,600

Due From Banks

6

7,946,147,786

6,572,191,780

Treasury Bills & Other Governmental Notes

7

13,198,960,913

12,456,955,210

Trading Financial Assets

8

491,138,956

641,627,430

Loans & Overdrafts

11&12

27,303,684,185

26,330,327,878

Financial Derivatives

13

225,347,220

704,890,792

Financial Investments

Available for Sale

9

7,429,977,151

2,774,965,250

Held to Maturity Financial Investments

9

590,057,209

681,263,274

Financial Investments in associated companies

14

93,352,492

92,923,215

Brokers-Debit Balances

80,154,770

151,604,732

Reconciliation Accounts-Debit Balances

20,302,650

-

Debit Balances & Other Assets

16

1,005,543,781

972,855,164

Goodwill

39

200,467,227

200,523,251

Intangible Assets

39

573,471,546

640,938,786

Deferred Tax

28

37,232,586

19,372,767

Fixed Assets (Net)

17

749,602,993

748,340,702

Total Assets

64,124,697,953

57,461,793,831

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

18

458,145,229

228,994,222

Customer Deposits

19

54,648,654,522

48,790,029,809

Brokers - Credit Balance

212,593,347

200,921,933

Reconciliation Accounts-Credit Balances

-

27,897,554

Financial Derivatives

13

150,526,830

636,914,744

Credit Balances & Other Liabilities

20

1,139,717,462

1,270,466,914

Long Term Loans

21

93,237,042

109,273,933

Other Provisions

22

380,160,007

372,645,236

Total Liabilities

57,083,034,439

51,637,144,345

Shareholders' Equity

Issued & Paid- in Capital

23

2,925,000,000

2,925,000,000

Reserves

23

2,358,774,274

1,308,202,274

Reserve for employee stock ownership plan (ESOP)

161,728,984

86,727,903

Retained Earning

(157,685,992)

87,845,690

Total Shareholders' Equity

5,287,817,266

4,407,775,867

Net Profit of the Year

1,708,238,925

1,370,592,742

Total Shareholders' Equity & Net Profit

6,996,056,191

5,778,368,609

Minority interest

45,607,323

46,280,877

Total Shareholders Equity & Minority Interest

7,041,663,514

5,824,649,486

Total Liabilities & Shareholders' Equity

64,124,697,953

57,461,793,831

Contingent & commitments Liabilities

24

12,637,822,568

13,290,994,705

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CONSOLIDATED INCOME STATEMENT

For Year Ended December 31, 2009

Amounts in LE.

Note

Dec. 31, 2009

Dec. 31, 2008

Interest and similar income

25

4,032,638,862

3,765,207,513

Interest and similar expenses

25

(2,002,606,659)

(1,966,547,421)

Net Interest Income

2,030,032,203

1,798,660,092

Fees and Commissions income

830,270,817

821,333,569

Fees and Commissions Expense

(64,831,578)

(73,587,145)

Net Income from Fees and Commissions

765,439,239

747,746,424

Dividends Income

133,473,178

102,559,579

Net Trading Income

26

419,294,504

345,367,741

Provisions

12&22

(97,376,936)

(410,519,381)

Profit (losses) from Financial Investments

9

66,326,834

109,312,249

Administrative Expenses

(1,170,802,794)

(1,038,662,088)

Other Operating Income

10

(30,383,615)

179,386,060

Intangible Assets Amortization

(67,467,240)

(33,733,620)

Net Profit before Tax

2,048,535,373

1,616,419,056

Income Tax

29

(355,028,402)

(218,777,585)

Deferred Tax

28

16,259,820

(32,226,272)

Net Profit After Tax

1,709,766,791

1,365,415,199

Minority interest

(1,527,866)

(5,177,543)

Bank Shareholders

1,708,238,925

1,370,592,742

Earning per share

Basic

30

5.17

4.15

Diluted

30

5.06

4.11

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CONSOLIDATED CASH FLOW STATEMENT 1a

For Year Ended Dec. 31, 2009

Amounts in LE.

Dec. 31, 2009

Dec. 31, 2008

Cash Flow From Operating Activities

Net Income Before Tax

2,048,535,373

1,616,419,056

Adjustments To Reconcile Net Income

Total Net Cash Provided by operating

Depreciation

193,535,183

157,078,362

Provisions (Additions during the period)

97,894,015

410,519,381

Trading Financial Investment Evaluation Diff.

(11,988,038)

88,799,961

Intangible Assets Amortization

(67,467,240)

33,733,620

Impairment of Assets

22,423,516

-

Utilization of Provision (Other than Provision for Doubtful Debts)

(6,767,109)

(11,957,034)

Provisions No Longer Used

(4,016,965)

(165,739,690)

Difference in revaluation of FCY Provision Balances

(Except Doubtful Debts)

(724,579)

518,328

Gains (losses) From Selling of Fixed Assets

15,797,710

(5,052,568)

Profit From Selling financial Investments

(113,051,948)

(227,427,627)

Profits from Selling an investment in subsidiary

-

(50,258,991)

FCY Revaluation Difference of Long Term Loans

310,424

(922,993)

Share based payments

75,001,081

57,568,319

Operating Profit Before Changes in Operating Assets and Liabilities

2,249,481,423

2,086,976,124

Net Decrease (Increase) in Assets

Due from banks

(1,780,463,063)

9,556,516,685

Treasury Bills & Other Governmental Notes

1,410,950,308

(7,358,853,097)

Trading Financial Assets

162,476,513

(46,594,530)

Financial Derivatives (Net)

(6,844,342)

(55,834,978)

Loans & Overdrafts

(1,047,276,956)

(6,220,116,065)

Net Increase (Decrease) In Liabilities

Debit Balances and Other Assets

(15,714,945)

(9,204,729)

Due to Banks

229,151,007

(2,149,619,156)

Customer Deposits

5,858,624,713

9,313,976,968

Credit Balances & Other Liabilities

(377,188,176)

618,321,121

Income Tax paid

-

(155,475,345)

Net Cash Provided from Operating Activities

6,683,196,482

5,580,092,998

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

 CONSOLIDATED CASH FLOW STATEMENT 1b

For Year Ended Dec.31,2009

Dec. 31, 2009

Dec. 31, 2008

Cash Flow From Investing Activities

Sale (Purchase) of Subsidiaries & Associated Companies

(86,568,998)

(2,208,667)

Purchase for Fixed Assets, premises and Fitting-out of Branches

(176,827,213)

(198,887,584)

Redemption of Held-to-Maturity Financial Investments

100,347,555

(237,369,108)

Held to Maturity Financial investment Purchases

(9,141,490)

-

Available for Sale Financial Investments

(4,564,383,469)

(211,077,065)

Financial Investments in subsidiary (Goodwill)

-

(621,580,409)

Net Cash (Used in) Provided from

Investing Activities

(4,736,573,615)

(1,271,122,833)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

(16,347,315)

(51,159,293)

Dividends Paid

(478,236,553)

(346,045,692)

Net Cash (Used in) Financing Activities

(494,583,868)

(397,204,985)

Net cash & cash equivalent Changes

1,452,038,999

3,911,765,180

Beginning Balance of cash and cash equivalent

8,778,740,569

6,879,374,081

Cash & Cash equivalent Balance At the End of the Year

10,230,779,568

10,791,139,261

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

4,179,256,489

6,493,360,095

Due From Banks

7,946,147,786

4,551,845,285

Treasury Bills & Other Governmental Notes

13,198,960,913

12,456,955,210

Due From Banks (Time Deposits)

(7,509,460,335)

(3,708,650,777)

Treasury Bills with Maturity More than Three Months

(7,584,125,285)

(9,002,370,552)

Total Cash & Cash Equivalent

10,230,779,568

10,791,139,261

2008

Capital

Legal Reserves

General Reserves

Intangible Assets Value for Bank Shares Before Acquisition

Retained Earning

Special Reserves

Reserves for AFS Inv. Rev.*

Profits of the year

Reserve for ESOP

Total Shareholders Equity

Minority Interest

Total

Beginning Balance

1,950,000,000

371,230,872

548,482,934

-

41,349,498

185,993,785

60,903,531

1,285,775,354

29,159,584

4,472,895,558

5,263,160

4,478,158,718

Derivatives Revaluations Settlement*

-

-

-

-

(13,571,026)

-

-

-

-

(13,571,026)

-

(13,571,026)

Capital Increase

975,000,000

-

(975,000,000)

-

-

-

-

-

-

-

-

-

Transfer to Reserves

-

61,620,639

834,064,668

-

-

-

-

(895,685,307)

-

-

-

-

Dividends paid

-

-

-

-

(5,997,898)

-

-

(336,709,547)

-

(342,707,445)

(3,338,247)

(346,045,692)

Net Profits of the Year

-

-

 -

-

-

-

-

1,370,592,742

-

1,370,592,742

(5,177,543)

1,365,415,199

Usage Part of Reserve

-

-

-

-

-

-

(81,888,576)

-

-

(81,888,576)

-

(81,888,576)

Transferred to Retained Earnings

-

-

-

-

53,380,500

-

-

(53,380,500)

-

-

-

-

Reserve for Employee Stock Ownership plan (ESOP)**

-

-

-

-

-

-

-

-

57,568,319

57,568,319

-

57,568,319

Adjustments on Income Tax

-

-

-

-

(461,324)

-

-

-

-

(461,324)

-

(461,324)

Minority Share from Retained Earnings

-

-

-

-

(4,927,294)

-

-

-

-

(4,927,294)

4,927,294

-

Majority Share in Intangible Assets

-

-

-

302,794,421

18,073,234

-

-

-

-

320,867,655

44,606,213

365,473,868

Ending Balance

2,925,000,000

432,851,511

407,547,602

302,794,421

87,845,690

185,993,785

(20,985,045)

1,370,592,742

86,727,903

5,778,368,609

46,280,877

5,824,649,486