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

 Consolidated Balance Sheet as of December 31, 2020

Notes

Dec. 31, 2020

Dec. 31, 2019

EGP Thousands

EGP Thousands

Assets

Cash and balances at the Central Bank

15

33,768,549

28,273,962

Due from banks

16

87,426,301

28,353,366

Loans and advances to banks, net

18

776,980

625,264

Loans and advances to customers, net

19

119,570,005

119,321,103

Derivative financial instruments

20

248,759

216,383

Investments

- Financial Assets at Fair value through P&L

21

359,959

418,781

- Financial Assets at Fair value through OCI

21

148,118,372

89,897,257

- Amortized cost

21

25,285,225

107,225,613

- Investments in associates

22

139,871

107,693

Other assets

23

9,175,525

9,748,143

Goodwill

42

178,782

-

Intangible Assets

43

44,920

-

Deferred tax assets (Liabilities)

31

437,772

350,339

Property, plant and equipment

24

2,311,147

2,204,464

Total assets

427,842,167

386,742,368

Liabilities and equity

Liabilities

Due to banks

25

8,817,535

11,810,607

Due to customers

26

341,169,450

304,448,455

Derivative financial instruments

20

331,073

282,588

Current tax liabilities

859,582

4,639,364

Other liabilities

28

5,735,269

8,396,794

Other loans

27

7,746,946

3,272,746

Provisions

29

3,223,501

2,011,369

Total liabilities

367,883,356

334,861,923

Equity

Issued and paid-up capital

30

14,776,813

14,690,821

Reserves

33

33,094,580

24,344,815

Reserve for employee stock ownership plan (ESOP)

33

1,064,648

963,152

Retained earnings *

33

10,539,715

11,881,657

Total equity

59,475,756

51,880,445

Minority interest

483,055

-

Total minority interest, equity and net profit for the period/year

59,958,811

51,880,445

Total liabilities and equity

427,842,167

386,742,368

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

(Audit report attached)

*

Including net profit for the current year

Hussein Abaza

Sherif Samy

CEO & Board member

Chairman

Consolidated statement of other comprehensive income for the year ended December 31, 2020

Dec. 31, 2020

Dec. 31, 2019

EGP Thousands

EGP Thousands

Net profit for the year

10,236,323

11,800,995

Other comprehensive income items that will not be reclassified to the Profit or Loss:

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

(13,966)

212,967

Other comprehensive income items that is or may be reclassified to the profit or loss:

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

(250,766)

5,944,586

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

(76,717)

-

Cumulative foreign currencies translation differences

(3,684)

2,501

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

205,182

(184,921)

Total other comprehensive income for the year

10,096,372

17,776,128

As follows:

Bank's shareholders

10,098,206

17,776,128

Minority interest

(1,834)

-

Total other comprehensive income for the year

10,096,372

17,776,128

Consolidated cash flow for the year ended December 31, 2020

Notes

Dec. 31, 2020

Dec. 31, 2019

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax from continued operations

15,236,308

16,534,881

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

Fixed assets depreciation

24

733,032

576,544

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

12

4,806,518

1,610,878

Other provisions charges

29

1,234,980

461,869

Impairment charge for credit losses (due from banks)

12

7,081

9,503

Impairment charge for credit losses (financial investments)

12

205,182

(184,921)

Impairment charge for other assets

23

69,217

(93,313)

Exchange revaluation differences for financial assets at fair value through OCI

21

249,642

1,593,030

Goodwill amortization

42

27,505

-

Intangible assets amortization

43

6,911

238,715

Impairment charge financial assets at fair value through OCI

21

79,126

-

Utilization of other provisions

29

(2,382)

(28,135)

Other provisions no longer used

29

(13,273)

(6,910)

Exchange differences of other provisions

29

(7,193)

(110,062)

Profits from selling property, plant and equipment

11

(1,094)

(1,439)

(Profits) losses from selling financial investments

21

(1,018,469)

(497,894)

Released (Impairment) charges of investments in associates and subsidiaries

21

16,511

-

Shares based payments

552,438

464,539

Bank's share in the profits of associates

(22,426)

(1,135)

Operating profits before changes in operating assets and liabilities

22,159,614

20,566,150

Net decrease (increase) in assets and liabilities

Due from banks

15

(10,899,927)

(8,870,547)

Treasury bills and other governmental notes

-

-

Financial assets at fair value through P&L

21

58,822

2,318,924

Derivative financial instruments

20

16,109

(2,910)

Loans and advances to banks and customers

18 - 19

(5,020,609)

(14,533,328)

Other assets

40

568,988

163,933

Due to banks

25

(2,993,072)

4,550,788

Due to customers

26

36,720,995

19,151,586

Income tax obligations paid

(3,779,782)

(3,625,579)

Other liabilities

28

(7,645,182)

1,895,241

Net cash used in (generated from) operating activities

29,185,956

21,614,258

Cash flow from investing activities

Proceeds from Investments in associates.

750

-

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

(1,091,829)

(1,303,181)

Proceeds from selling property, plant and equipment

11

1,094

1,439

Proceeds from redemption of financial assets at amortized cost

21

82,309,481

43,937,957

Payment for purchases of financial assets at amortized cost

21

(233,765)

(76,516,842)

Payment for purchases of financial assets at fair value through OCI

21

(112,791,966)

(50,954,311)

Proceeds from selling financial assets at fair value through OCI

54,137,187

54,855,966

Proceeds from investment in subsidiaries.

194,722

-

Net cash generated from (used in) investing activities

22,525,674

(29,978,972)

Consolidated cash flow for the year ended December 31, 2020 (Cont.)

Dec. 31, 2020

Dec. 31, 2019

EGP Thousands

EGP Thousands

Cash flow from financing activities

Received (Repaid) in long term loans

27

4,474,200

(448,783)

Dividend paid

(3,370,464)

(2,700,544)

Capital increase

85,992

105,413

Net cash generated from (used in) financing activities

1,189,728

(3,043,914)

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

52,901,358

(11,408,628)

Beginning balance of cash and cash equivalent

22,895,017

34,303,645

Cash and cash equivalent at the end of the year

75,796,375

22,895,017

Cash and cash equivalent comprise:

Cash and balances at the central bank

15

33,768,549

28,273,962

Due from banks

16

87,450,490

28,370,183

Treasury bills and other governmental notes

17

39,497,692

27,634,062

Obligatory reserve balance with CBE

15

(27,744,700)

(22,397,310)

Due from banks with maturities more than three months

(16,974,367)

(10,593,903)

Treasury bills with maturity more than three months

(40,201,289)

(28,391,977)

Total cash and cash equivalent

75,796,375

22,895,017

Consolidated statement of changes in shareholders' equity for the year ended December 31, 2019

Dec. 31, 2019

Issued and paid up capital

Legal reserve

General reserve

General risk reserve

Reserve for transactions under common control

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Cumulative foreign currencies translation differences

Total Shareholders Equity

Minority Interest

Total

EGP Thousands

Beginning balance

11,668,326

1,710,293

12,776,215

1,549,445

-

12,421

(1,860,851)

4,323

9,637,083

738,320

-

36,235,575

-

36,235,575

Capital increase

3,022,495

-

(2,917,082)

-

-

-

-

-

-

-

-

105,413

-

105,413

Transferred to reserves

-

477,736

6,615,296

-

-

1,045

-

-

(6,854,370)

(239,707)

-

-

-

-

Dividend paid

-

-

-

-

-

-

-

-

(2,700,544)

-

-

(2,700,544)

-

(2,700,544)

Net profit of the year

-

-

-

-

-

-

-

-

11,800,995

-

-

11,800,995

-

11,800,995

Reserve for transactions under common control

-

-

-

-

-

-

6,157,553

-

-

-

-

6,157,553

-

6,157,553

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

841

(841)

-

-

-

-

-

ECL for impairment of debt instruments investments

-

-

-

-

-

-

(184,921)

-

-

-

-

(184,921)

-

(184,921)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

464,539

-

464,539

-

464,539

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

(666)

-

2,501

1,835

-

1,835

Balance at the end of the year

14,690,821

2,188,029

16,474,429

1,549,445

-

13,466

4,111,781

5,164

11,881,657

963,152

2,501

51,880,445

-

51,880,445

Consolidated statement of changes in shareholders' equity for the year ended December 31, 2020

Dec. 31, 2020

Issued and paid up capital

Legal reserve

General reserve

General risk reserve

Reserve for transactions under common control

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Cumulative foreign currencies translation differences

Total Shareholders Equity

Minority Interest

Total

EGP Thousands

Beginning balance

14,690,821

2,188,029

16,474,429

1,549,445

-

13,466

4,111,781

5,164

11,881,657

963,152

2,501

51,880,445

-

51,880,445

Capital increase

85,992

-

-

-

-

-

-

-

-

-

-

85,992

-

85,992

Transferred to reserves

-

590,106

8,291,229

-

-

1,440

-

-

(8,431,833)

(450,942)

-

-

-

-

Dividend paid

-

-

-

-

-

-

-

-

(3,370,464)

-

-

(3,370,464)

-

(3,370,464)

Minority Interest share

-

-

-

-

-

-

-

-

-

-

-

485,779

485,779

Net profit of the year

-

-

-

-

-

-

-

-

10,238,157

-

-

10,238,157

(1,834)

10,236,323

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

-

-

-

-

-

-

(76,717)

-

76,717

-

-

-

-

-

Transferred from previous years' outstanding balances

-

-

-

-

-

-

-

-

101,013

-

-

101,013

-

101,013

Change in retained earnings from acquisition of subsidiaries

-

-

-

-

-

-

-

-

45,727

-

-

45,727

-

45,727

Reserve for transactions under common control

-

-

-

-

8,183

-

-

-

-

-

-

8,183

-

8,183

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

-

-

-

-

-

-

(264,732)

-

-

-

-

(264,732)

-

(264,732)

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

1,259

(1,259)

-

-

-

-

-

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

-

-

-

-

-

-

205,182

-

-

-

-

205,182

-

205,182

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

552,438

-

552,438

-

552,438

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

(6,185)

(6,185)

(890)

(7,075)

Balance at the end of the year

14,776,813

2,778,135

24,765,658

1,549,445

8,183

14,906

3,975,514

6,423

10,539,715

1,064,648

(3,684)

59,475,756

483,055

59,958,811