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

Separate balance sheet as at December 31, 2020

Notes

Dec. 31, 2020

Dec. 31, 2019

EGP Thousands

EGP Thousands

Assets

Cash and balances at the central bank

15

33,572,597

28,273,962

Due from banks

16

86,997,034

28,353,366

Loans and advances to banks, net

18

776,980

625,264

Loans and advances to customers, net

19

118,854,880

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

147,646,432

89,897,257

- Amortized cost

21

25,020,917

107,225,613

- Investments in associates and subsidiaries

22

874,348

63,953

Other assets

23

9,095,212

9,747,939

Deferred tax assets (Liabilities)

31

437,772

350,339

Property and equipment

24

2,259,940

2,202,698

Total assets

426,144,830

386,696,658

Liabilities and equity

Liabilities

Due to banks

25

8,815,561

11,810,607

Due to customers

26

340,086,524

304,483,655

Derivative financial instruments

20

331,073

282,588

Current tax liabilities

859,582

4,639,364

Other liabilities

28

5,679,266

8,396,487

Other loans

27

7,746,946

3,272,746

Provisions

29

3,221,252

2,011,369

Total liabilities

366,740,204

334,896,816

Equity

Issued and paid up capital

30

14,776,813

14,690,821

Reserves

33

33,085,554

24,342,314

Reserve for employee stock ownership plan (ESOP)

33

1,064,648

963,152

Retained earnings *

33

10,477,611

11,803,555

Total equity

59,404,626

51,799,842

Total liabilities and equity

426,144,830

386,696,658

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

Separate income statement for the year ended December 31, 2020

Notes

Dec. 31, 2020

Dec. 31, 2019

EGP Thousands

EGP Thousands

Interest and similar income

42,070,598

42,600,957

Interest and similar expense

(16,980,635)

(21,022,838)

Net interest income

6

25,089,963

21,578,119

Fee and commission income

3,053,536

3,451,688

Fee and commission expense

(983,450)

(1,170,893)

Net fee and commission income

7

2,070,086

2,280,795

Dividend income

8

98,175

53,423

Net trading income

9

395,701

688,059

Profits (Losses) on financial investments

21

922,832

450,697

Administrative expenses

10

(5,552,800)

(5,044,937)

Other operating (expenses) income

11

(2,737,550)

(1,794,540)

Intangible assets amortization

-

(238,715)

Impairment release (charges) for credit losses

12

(4,989,288)

(1,435,460)

Profit before income tax

15,297,119

16,537,441

Income tax expense

13

(5,084,670)

(4,639,364)

Deferred tax assets (Liabilities)

31 - 13

87,433

(94,522)

Net profit for the year

10,299,882

11,803,555

Earning per share

14

Basic

6.26

7.12

Diluted

6.24

7.09

Hussein Abaza

Sherif Samy

CEO & Board member

Chairman

Separate 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

10,299,882

11,803,555

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

(255,293)

5,944,586

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

(76,717)

-

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

10,159,088

17,776,187

Separate 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

15,297,119

16,537,441

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

Fixed assets depreciation

24

677,501

576,544

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

12

4,777,592

1,610,878

Other provisions charges

29

1,232,731

461,869

Impairment charge for credit losses (due from banks)

12

6,514

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

Intangible assets amortization

-

238,715

Impairment charge financial assets at fair value through OCI

21

79,126

47,197

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) losses from selling property, plant and equipment

11

(1,094)

(1,439)

(Profits) losses from selling financial investments

21

(1,018,469)

(497,894)

Shares based payments

552,438

464,539

Released (Impairment) charges of investments in associates and subsidiaries

21

16,511

-

Operating profits before changes in operating assets and liabilities

22,121,162

20,617,042

Net decrease (increase) in assets and liabilities

Due from banks

15

(10,899,927)

(8,870,547)

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

(4,276,558)

(14,533,328)

Other assets

40

649,301

162,502

Due to banks

25

(2,995,046)

4,550,788

Due to customers

26

35,602,869

19,143,183

Income tax obligations paid

(3,779,782)

(3,625,579)

Other liabilities

28

(7,700,878)

1,894,934

Net cash used in (generated from) operating activities

28,796,072

21,655,009

Cash flow from investing activities

Proceeds from investments in associates.

750

-

Payments for investment in subsidiaries and associates.

(721,352)

-

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

(987,061)

(1,301,415)

Proceeds from selling property, plant and equipment

11

1,094

1,439

Proceeds from redemption of financial assets at amortized cost

21

82,203,469

43,937,957

Payment for purchases of financial assets at amortized cost

21

-

(76,516,842)

Payment for purchases of financial assets at fair value through OCI

21

(112,382,696)

(50,954,311)

Proceeds from selling financial assets at fair value through OCI

54,970,226

54,813,449

Net cash generated from (used in) investing activities

23,084,430

(30,019,723)

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

53,070,230

(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

75,965,247

22,895,017

Cash and cash equivalent comprise:

Cash and balances at the central bank

15

33,572,597

28,273,962

Due from banks

16

87,020,365

28,370,183

Treasury bills and other governmental notes

17

39,464,714

27,634,062

Obligatory reserve balance with CBE

15

(27,610,380)

(22,397,310)

Due from banks with maturities more than three months

(16,280,760)

(10,593,903)

Treasury bills with maturity more than three months

(40,201,289)

(28,391,977)

Total cash and cash equivalent

75,965,247

22,895,017

Separate 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

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

3,022,495

-

(2,917,082)

-

-

-

-

-

-

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)

Net profit for the year

-

-

-

-

-

-

-

11,803,555

-

11,803,555

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

-

-

-

-

-

6,157,553

-

-

-

6,157,553

Transferred (from) to bank risk reserve

-

-

-

-

-

-

841

(841)

-

-

ECL for impairment of debt instruments investments

-

-

-

-

-

(184,921)

-

-

-

(184,921)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

464,539

464,539

Ending 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

Separate 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

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

8,291,229

-

1,440

-

-

(8,431,833)

(450,942)

-

Dividend paid

-

-

-

-

-

-

-

(3,370,464)

-

(3,370,464)

Net profit for the year

-

-

-

-

-

-

-

10,299,882

-

10,299,882

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

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

-

-

-

-

-

(269,259)

-

-

-

(269,259)

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

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

552,438

552,438

Ending 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