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

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

Unconsolidated Financial Statements

September 30, 2010

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of Sep. 30, 2010

Amounts in EGP.

Note

Sep.30,2010

Dec.31, 2009 (Restated)

Assets

Cash & Due From Central Bank

15

4,532,172,246

4,179,212,739

Due From Banks

16

7,571,838,916

7,785,042,557

Treasury Bills & Other Notes Discountable at CBE

17

8,416,562,813

13,191,665,954

Trading Financial Assets

18

925,523,301

380,620,682

Loans & Overdrafts for Banks (Net after provisions)

19

137,153,805

200,765,433

Loans & Overdrafts for Customers (Net after provisions)

20

33,766,969,059

27,242,306,896

Financial Derivatives

21

219,896,414

225,347,220

Financial Investments

Available for Sale

22

12,250,984,609

7,420,529,606

Held to Maturity Financial Investments

22

346,213,455

579,926,673

Financial Investments in Subsidiary and associated companies

23

1,155,299,047

1,138,277,487

Real Estate investments

24

36,495,664

42,485,364

Debit Balances and Other Assets

25

946,952,172

918,003,883

Deferred Tax

33

39,595,490

39,799,318

Fixed Assets (Net)

26

732,237,863

718,847,964

Total Assets

71,077,894,855

64,062,831,776

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

27

750,373,798

458,145,229

Customer Deposits

28

60,554,784,523

54,842,629,843

Financial Derivatives

21

183,606,745

150,526,830

Credit Balances & Other Liabilities

30

1,078,463,393

1,128,964,486

Long Term Loans

29

135,064,615

93,237,042

Other Provisions

31

354,735,020

443,728,578

Total Liabilities

63,057,028,094

57,117,232,007

Shareholders' Equity

Issued & Paid- in Capital

32

5,901,443,600

2,925,000,000

Reserves

32

418,203,033

2,077,203,969

Reserve for employee stock ownership plan (ESOP)

139,930,990

161,728,984

Retained Earning

20,231,298

(1,942,684)

Total Shareholders' Equity

6,479,808,920

5,161,990,269

Net Profit of the Period

1,541,057,841

1,783,609,500

Total Shareholders' Equity & Net Profit

8,020,866,761

6,945,599,768

Total Liabilities & Shareholders' Equity

71,077,894,855

64,062,831,776

Contingent Liabilities & commitments

Letters of Credit, Guarantees and other commitments

37

11,483,268,710

12,637,872,568

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Sep. 30, 2010

Amounts in EGP.

Note

Sep. 30, 2010

Sep. 30, 2009

(Restated)

Interest and Similar Income

6

3,306,493,377

3,045,676,359

Interest Expense and Similar Charges

6

(1,664,991,389)

(1,539,561,730)

Net Interest Income

1,641,501,988

1,506,114,629

Fees & Commissions Income

7

609,954,166

482,795,217

Fees and Commissions Expense

7

(58,278,178)

(49,245,907)

Net Income from Fees and Commissions

551,675,979

433,549,310

Dividends Income

8

124,246,264

124,483,365

Net Trading Income

9

252,193,234

348,214,943

Profit from Financial Investments

22

174,541,834

61,932,618

Administrative Expenses

10

(877,566,249)

(787,045,956)

Other operating (Expenses) Income

11

3,181,161

(6,397,212)

Return (Losses) of impairment of loans

12

(28,702,347)

(139,568,922)

Net Profit before Tax

1,841,071,865

1,541,282,775

Income Tax

13

(299,810,196)

(247,855,431)

Deferred Tax

13&33

(203,828)

15,042,127

Net Profit After Tax

1,541,057,841

1,308,469,471

Earning per share

Basic

14

2.14

1.96

Diluted

14

2.10

1.93

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of Sep. 30, 2010

Amounts in EGP.

Sep. 30, 2010

Sep. 30, 2009

(Restated)

Cash Flow From Operating Activities

Net Income Before Tax

1,841,071,865

1,541,282,775

Adjustments To Reconcile Net Income

To Net Cash Provided by operating Activities

Depreciation

134,728,750

139,198,324

Provisions (Formed during the period)

83,404,585

145,946,885

Trading Financial Investment Evaluation Differences

(70,759,769)

(4,743,400)

Impairment of Assets

(32,544,969)

4,690,062

Utilization of Provision (except Provisions for Doubtful Debts)

(1,556,850)

(5,887,041)

Provisions no longer used

(108,037,726)

-

FCY Revaluation Differences of Provision Balances except Doubtful Debt

4,657,616

(259,087)

Losses From Selling of Fixed Assets

(2,073,253)

(15,344,069)

Losses From Selling of financial Investments

(126,694,967)

(3,416,690)

Losses from selling an investment in subsidiary

96

-

FCY Revaluation Difference of Long Term Loans

176,557

434,463

Share Based Payments

56,766,651

60,117,462

Operating Profits Before Changes in Operating Assets and Liabilities

1,779,138,586

1,871,506,484

Net Decrease (Increase) in Assets

Due from banks

135,222,889

(597,919,600)

Treasury Bills & Other Governmental Notes

1,047,055,612

2,202,353,652

Trading Financial Assets

(474,142,850)

(297,407,494)

Financial Derivatives (Net)

38,530,721

(40,675,900)

Loans & Overdrafts

(6,528,511,716)

(930,946,199)

Net Increase (Decrease) In Liabilities

Debit Balances and Other Assets

(52,520,084)

(126,134,904)

Due to Banks

292,228,569

532,783,421

Customer Deposits

5,712,154,680

2,009,329,063

Credit Balances & Other Liabilities

(350,311,291)

(404,771,069)

Net Cash Provided from Operating Activities

1,598,845,115

4,218,117,454

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of Sep. 30, 2010

Sep. 30, 2010

Sep. 30, 2009

(Restated)

Cash Flow From Investment Activities

Investments in subsidiaries & associated companies

(17,021,560)

53,998,565

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

(122,473,601)

(107,011,020)

Redemption of Held-to-Maturity Financial Investments

249,632,622

82,086,396

Held to Maturity financial Investments Purchases

(15,919,404)

(22,033)

Purchase of available for Sale Financial Investments

(4,561,124,872)

(5,042,543,745)

Real Estate investments

5,989,700

4,359,052

Net Cash (Used in) Provided from Investment Activities

(4,460,917,116)

(5,009,132,788)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

41,651,016

(12,863,095)

Dividends Paid

(658,369,589)

(478,236,553)

Capital Increase

25,721,800

-

Net Cash (Used in) provided from Financing Activities

(590,996,773)

(491,099,648)

Net cash & cash equivalent changes

(3,453,068,774)

(1,282,114,982)

Beginning Balance of cash and cash equivalent

10,062,335,630

8,622,040,072

Cash & Cash equivalent Balance At the End of the period

6,609,266,856

7,339,925,090

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

4,532,172,246

4,173,466,533

Due From Banks

7,571,838,916

6,489,758,105

Treasury Bills & other governmental notes

8,416,562,813

9,783,643,420

Due from Banks (time deposits) More than Three Months

(7,374,237,446)

(6,314,873,872)

Treasury Bills with Maturity More than Three Months

(6,537,069,673)

(6,792,069,096)

Total Cash & Cash Equivalent

6,609,266,856

7,339,925,090

Sep.30, 2009

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Inv. Revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Profits of the Period

(EGP)

Reserve for Employee Stock ownership plan ESOP

Total

(EGP)

Beginning Balance

2,925,000,000

432,851,511

407,547,602

(1,942,684)

185,993,785

(20,312,399)

-

1,615,100,458

86,727,903

5,630,966,176

Effect of adjusting accounting standards

-

-

-

-

20,536,766

-

-

-

-

20,536,766

Beginning Balance after adjustments

2,925,000,000

432,851,511

407,547,602

(1,942,684)

206,530,551

(20,312,399)

-

1,615,100,458

86,727,903

5,651,502,942

Transfer to Reserves

-

80,755,023

1,056,108,882

-

-

-

-

(1,136,863,905)

-

-

Dividends Paid

-

-

-

-

-

-

-

(478,236,553)

-

(478,236,553)

Net Profit of the Period

-

-

-

-

-

-

-

1,308,469,471

-

1,308,469,471

Addition from financial investment revaluation

-

-

-

-

-

53,977,115

-

-

-

53,977,115

Effect of adjusting accounting standards

-

-

-

-

-

-

-

-

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

60,117,462

60,117,462

Balance at the end of the Period

2,925,000,000

513,606,534

1,463,656,484

(1,942,684)

206,530,551

33,664,716

-

1,308,469,471

146,845,365

6,595,830,436

Sep.30, 2010

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Inv. Revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Profits of the period

(EGP)

Reserve for Employee Stock ownership plan ESOP

Total

(EGP)

Beginning Balance

2,925,000,000

513,606,534

1,463,656,484

(1,942,684)

206,530,551

(106,589,600)

26,652,790

1,756,956,710

161,728,984

6,945,599,768

Capital Increase

2,976,443,600

(476,326,032)

(2,474,395,768)

-

-

-

-

-

-

25,721,800

Transfer to Reserves

-

87,847,835

1,010,739,284

-

-

-

-

(1,098,587,119)

-

-

Dividends Paid

-

-

-

-

-

-

-

(658,369,589)

-

(658,369,589)

Net Profit of the period

-

-

-

-

-

-

-

1,541,057,841

-

1,541,057,841

Transfer to retained earnings

-

-

-

22,173,982

(22,173,982)

-

-

-

-

-

Addition from financial investment revaluation

-

-

-

-

-

110,090,291

-

-

-

110,090,291

Transferred to bank risk reserve

-

-

-

-

-

-

113,960,161

(113,960,161)

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

78,564,646

-

-

-

-

-

(21,797,994)

56,766,651

Balance at the end of period

5,901,443,600

125,128,337

78,564,646

20,231,298

184,356,569

3,500,691

140,612,951

1,427,097,681

139,930,990

8,020,866,762