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

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

Separate Financial Statements

December 31st , 2018

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FINANCIAL POSITION

As of December 31st , 2018

Amounts in EGP Thousands

Note

December 31st , 2018

December 31st , 2017

Assets

Cash and balances with central bank

15

20,058,974

14,663,289

Due from banks

16

46,518,892

45,319,766

Treasury bills and other governmental notes

17

41,999,252

54,478,202

Trading financial assets

18

2,737,705

7,295,197

Loans and advances to banks, net

19

67,703

1,313

Loans and advances to customers, net

20

106,309,205

88,427,103

Derivative financial instruments

21

52,289

40,001

Financial investments

- Available for sale

22

39,217,890

30,474,781

- Held to maturity

22

73,630,764

45,167,722

Investments in associates and subsidiaries

23

68,633

54,068

Other assets

24

9,563,218

6,886,807

Intangible assets

41

238,715

368,923

Deferred tax assets (Liabilities)

32

308,370

179,630

Property, plant and equipment

25

1,651,875

1,414,519

Total assets

342,423,485

294,771,321

Liabilities and equity

Liabilities

Due to banks

26

7,259,819

1,877,918

Due to customers

27

285,340,472

250,767,370

Derivative financial instruments

21

132,858

196,984

Current tax liabilities

3,625,579

2,778,973

Other liabilities

29

6,501,553

5,476,531

Other loans

28

3,721,529

3,674,736

Provisions

30

1,694,607

1,615,159

Total liabilities

308,276,417

266,387,671

Equity

Issued and paid up capital

31

11,668,326

11,618,011

Reserves

34

12,184,667

10,137,515

Reserve for employee stock ownership plan (ESOP)

34

738,320

489,334

Retained earnings*

34

9,555,755

6,138,790

Total equity

34,147,068

28,383,650

Total liabilities and equity

342,423,485

294,771,321

*Including net profit for the current year

INCOME STATEMENT

As of December 31st , 2018

Amounts in EGP Thousands

Note

December 31st , 2018

December 31st , 2017

Interest and similar income

37,403,709

28,671,166

Interest and similar expense

(19,260,190)

(16,167,155)

Net interest income

6

18,143,519

12,504,011

Fee and commission income

3,402,616

2,794,211

Fee and commission expense

(991,957)

(796,107)

Net fee and commission income

7

2,410,659

1,998,104

Dividend income

8

25,958

34,513

Net trading income

9

1,089,076

1,292,215

Profits (Losses) on financial investments

22

402,067

496,045

Administrative expenses

10

(4,222,779)

(3,118,839)

Other operating (expenses) income

11

(1,589,675)

(1,002,570)

Intangible assets amortization

41

(130,208)

(130,208)

Impairment charge for credit losses

12

(3,076,023)

(1,742,281)

Profit before income tax

13,052,594

10,330,990

Income tax expense

13

(3,625,579)

(2,778,973)

Deferred tax assets (Liabilities)

32 & 13

128,740

(1,678)

Net profit for the period

9,555,755

7,550,339

Earnings per share

14

Basic

7.26

5.76

Diluted

7.22

5.67

CASH FLOW STATEMENT

As of December 31st , 2018

Amounts in EGP Thousands

December 31st , 2018

December 31st , 2017

Cash flow from operating activities

Profit Before Income Tax

13,052,594

10,330,990

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

Fixed assets depreciation

25

390,830

351,005

Impairment charge for credit losses

12

3,076,023

1,742,281

Other provisions charges

30

101,501

212,622

Impairment charge for other assets

24

316,763

-

Available for sale investments exchange revaluation differences

22

(102,991)

100,078

Intangible assets amortization

41

130,208

130,208

Financial investments impairment charge

22

39,561

(108,349)

Exchange differences in financial investments in subsidiary

23

(465)

-

Utilization of other provisions

30

(2,114)

(25,463)

Other provisions no longer used

30

(17,670)

(97,897)

Exchange differences of other provisions

30

(2,269)

11,840

Profits from selling property, plant and equipment

11

(1,045)

(607)

(Profits) Losses from selling financial investments

22

(441,628)

99,047

Shares based payments

408,346

290,884

Released charges of non-current assets held for sale

-

(340,504)

Operating profits before changes in operating assets and liabilities

16,947,644

12,696,135

Net decrease (increase) in assets and liabilities

Due from banks

16

(13,661,577)

(2,594,442)

Treasury bills and other governmental notes

42

4,640,524

(16,466,420)

Trading financial assets

18

4,557,492

(4,850,063)

Derivative financial instruments

21

(66,141)

120,431

Loans and advances to banks and customers

19-20

(21,255,952)

(4,007,616)

Other assets

43

(2,263,465)

(1,133,497)

Due to banks

26

5,381,901

(1,131,078)

Due to customers

27

34,573,102

18,802,058

Income tax obligations paid

(2,778,973)

(2,017,034)

Other liabilities

29

1,025,022

1,897,201

Net cash (used in) provided from operating activities

27,099,577

1,315,675

Cash flow from investing activities

Proceeds from redemption of subsidiary and associates

-

750

Payment for purchases of subsidiary and associates

(10,575)

(44,318)

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

(874,708)

(745,696)

Proceeds from selling property, plant and equipment

11

1,045

607

Proceeds from redemption of held to maturity financial investments

22

5,532,271

13,354,468

Payment for purchases of held to maturity financial investments

22

(33,995,313)

(4,597,254)

Payment for purchases of available for sale financial investments

22

(12,670,761)

(25,868,230)

Proceeds from selling available for sale financial investments

22

2,059,341

1,261,980

Proceeds from selling non-current assets held for sale

-

768,515

Net cash (used in) provided from investing activities

(39,958,700)

(15,869,178)

Cash flow from financing activities

Increase (decrease) in long term loans 28

46,793

3,514,493

Dividend paid

(2,143,177)

(1,350,204)

Capital Increase

50,315

79,351

Net cash used in financing activities

(2,046,069)

2,243,640

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

(14,905,192)

(12,309,863)

Beginning balance of cash and cash equivalent

49,208,837

61,518,700

Cash and cash equivalent at the end of the period

34,303,645

49,208,837

Cash and cash equivalent comprise:

Cash and balances with central bank

15

20,058,974

14,663,289

Due from banks

16

46,518,892

45,319,766

Treasury bills and other governmental notes

17

41,999,252

54,478,202

Obligatory reserve balance with CBE

15

(13,526,763)

(8,878,986)

Due from banks with maturities more than three months

(10,733,386)

(1,719,586)

Treasury bills with maturity more than three months

17

(50,013,324)

(54,653,848)

Total cash and cash equivalent

34,303,645

49,208,837