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

Notes

Jun. 30, 2020

Dec. 31, 2019

EGP Thousands

EGP Thousands

Assets

Cash and balances with central bank

7

30,421,432

 28,273,962

Due from banks

8

56,777,751

 28,353,366

Loans and advances to banks, net

10

883,248

 625,264

Loans and advances to customers, net

11

119,351,228

 119,321,103

Derivative financial instruments

315,916

 216,383

Investments

- Financial Assets at Fair Value through P&L

12

357,304

 418,781

- Financial Assets at Fair value through OCI

12

84,930,779

89,897,257

-Amortized cost

12

92,811,350

107,225,613

-Investments in associates and subsidiaries

13

692,010

63,953

Other assets

8,986,441

 9,747,939

Deferred tax assets (Liabilities)

457,940

 350,339

Property, plant and equipment

14

2,308,961

 2,202,698

Total assets

398,294,360

 386,696,658

Liabilities and equity

Liabilities

Due to banks

15

12,271,095

 11,810,607

Due to customers

16

318,944,242

 304,483,655

Derivative financial instruments

340,652

 282,588

Current tax liabilities

2,652,208

 4,639,364

Other liabilities

5,434,030

 8,396,487

Other loans

3,250,254

 3,272,746

Provisions

17

3,067,002

 2,011,369

Total liabilities

345,959,483

 334,896,816

Equity

Issued and paid up capital

14,690,821

14,690,821

Reserves

31,327,194

24,342,314

Reserve for employee stock ownership plan (ESOP)

1,260,111

963,152

Retained earnings *

5,056,751

11,803,555

Total equity

52,334,877

51,799,842

Total liabilities and equity

398,294,360

386,696,658

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

(Review report attached)

*Including net profit for the current period

Hisham Ezz Al-Arab

Chairman and Managing Director

Separate Condensed Interim income statement for the period ended June 30, 2020

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

Last 6 Months

Last 6 Months

Jun. 30, 2020

Jun. 30, 2019

EGP Thousands

EGP Thousands

Net profit for the period

5,001,609

5,358,020

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

(1,483,581)

2,838,861

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

90,512

(109,668)

Total other comprehensive income for the period

3,608,540

8,087,213

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

Notes

Jun. 30, 2020

Jun. 30, 2019

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax

7,546,216

7,399,456

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

Fixed assets depreciation

14

328,251

275,052

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

2,144,988

875,635

Other provisions charges

17

1,096,888

3,140

Impairment charge for credit losses (due from banks)

24,154

29,156

Impairment charge for credit losses (financial investments)

90,512

(109,667)

Impairment charge for other assets

24,621

52,772

Exchange revaluation differences for financial assets at fair value through OCI

(85,180)

886,795

Intangible assets amortization

-

65,104

Impairment charge financial assets at fair value through OCI

-

45,664

Exchange differences in financial investments in subsidiary

13

(242)

3,020

Utilization of other provisions

17

(1,066)

1,878

Other provisions no longer used

17

(43,200)

(126,575)

Exchange differences of other provisions

17

3,011

(69,724)

(Profits) losses from selling property, plant and equipment

(94)

(1,439)

(Profits) losses from selling financial investments

12

(924,720)

(65,445)

Shares based payments

296,959

247,998

Released (Impairment) charges of investments in associates and subsidiaries

14,100

-

Released (Impairment) charges of FVOCI equity instruments

78,615

-

Operating profits before changes in operating assets and liabilities

10,593,813

9,512,820

Net decrease (increase) in assets and liabilities

Due from banks

8

(507,846)

(25,049,337)

Treasury bills and other governmental notes

-

24,315,394

Financial assets at fair value through P&L

12

61,477

2,262,513

Derivative financial instruments

(41,469)

(75,592)

Loans and advances to banks and customers

10 - 11

(2,430,817)

(4,776,117)

Other assets

925,679

1,289,326

Due to banks

15

460,488

(5,879,606)

Due to customers

16

14,460,587

20,263,230

Income tax obligations paid

(4,639,364)

(3,625,579)

Other liabilities

(2,962,457)

(1,225,572)

Net cash provided from operating activities

15,920,091

17,011,480

Cash flow from investing activities

Proceeds from investments in associates.

750

-

Payments for investment in subsidiaries.

(560,963)

-

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

(625,596)

(840,953)

Proceeds from selling property, plant and equipment

94

1,439

Proceeds from redemption of financial assets at amortized cost

59,360,102

33,290,053

Payment for purchases of financial assets at amortized cost

(44,945,839)

(32,633,462)

Payment for purchases of financial assets at fair value through OCI

(50,506,453)

(11,433,512)

Proceeds from selling financial assets at fair value through OCI

55,237,128

5,105,870

Net cash used in investing activities

17,959,223

(6,510,565)

Cash flow from financing activities

Increase (decrease) in long term loans

(22,492)

(230,801)

Dividend paid

(3,370,464)

(2,700,544)

Net cash used in (provided from) financing activities

(3,392,956)

(2,931,345)

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

30,486,358

7,569,570

Beginning balance of cash and cash equivalent

22,895,017

34,303,645

Cash and cash equivalent at the end of the period

53,381,375

41,873,215

Cash and cash equivalent comprise:

Cash and balances with central bank

7

30,421,432

24,993,377

Due from banks

8

56,818,722

66,543,158

Treasury bills and other governmental notes

9

27,424,702

25,344,096

Obligatory reserve balance with CBE

7

(22,905,156)

(15,980,212)

Due from banks with maturities more than three months

(10,266,781)

(33,329,274)

Treasury bills with maturity more than three months

(28,111,544)

(25,697,930)

Total cash and cash equivalent

53,381,375

41,873,215

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

Jun. 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

-

-

-

-

-

-

-

5,358,020

-

5,358,020

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

-

-

-

-

-

2,838,861

-

-

-

2,838,861

Transferred (from) to bank risk reserve

-

-

-

-

-

-

841

(841)

-

-

ECL for impairment of debt instruments investments

-

-

-

-

-

(109,668)

-

-

-

(109,668)

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

247,998

247,998

Ending balance

14,585,408

2,188,029

16,234,722

1,549,445

13,466

868,342

5,164

5,358,020

986,318

41,788,914

Separate condensed Interim statement of changes in shareholders' equity for the period ended June 30, 2020

Jun. 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

-

-

-

-

-

-

-

-

-

-

Transferred to reserves

-

590,106

7,840,286

-

1,440

-

-

(8,431,832)

-

-

Dividend paid

-

-

-

-

-

-

-

(3,370,464)

-

(3,370,464)

Net profit for the period

-

-

-

-

-

-

-

5,001,609

-

5,001,609

Transferred from reserve for financial assets at fair value through OCI

-

-

-

-

-

(55,142)

-

55,142

-

-

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

-

-

-

-

-

(1,483,581)

-

-

-

(1,483,581)

Transferred (from) to bank risk reserve

-

-

-

-

-

-

1,259

(1,259)

-

-

Release provision for impairment of debt instruments investments

-

-

-

-

-

90,512

-

-

-

90,512

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

296,959

296,959

Ending balance

14,690,821

2,778,135

24,314,715

1,549,445

14,906

2,663,570

6,423

5,056,751

1,260,111

52,334,877