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

Note

Dec. 31, 2019

Dec. 31, 2018

EGP Thousands

EGP Thousands

Profit for the year

10,033,494

9,062,467

Other comprehensive income

Other comprehensive income to be reclassified to profit or loss in subsequent periods:

Net (Loss)/gain on FVOCI

5,975,133

(1,928,674)

Total other comprehensive income for the year

16,008,627

7,133,793

Attributable to:

Equity holders of the parent

16,008,627

7,133,793

Non-controlling interest

-

-

The accompanying notes from 1 to 41 form an integral part of these consolidated financial statements.

Consolidated cash flow statement for the year ended December 31, 2019

Note

Dec. 31, 2019

Dec. 31, 2018

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax from continued operations

14,767,380

12,652,038

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

Fixed assets depreciation

 587,662

 390,830

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

 1,610,878

 3,076,023

Other provisions charges

 461,869

 101,501

Impairment charge for other assets

 (93,313)

 316,763

Impairment charge for credit losses (due from banks)

 9,503

 -

Exchange revaluation differences for financial assets at fair value through OCI

 1,593,030

 (102,991)

Impairment charge for credit losses (financial investments)

 (184,921)

 39,561

Utilization of other provisions

 (28,135)

 (2,114)

Other provisions no longer used

 (6,910)

 (17,670)

Impairment of intangible assets

 651,041

 -

Exchange differences of other provisions

 (110,062)

 (2,269)

Profits from selling property, plant and equipment

 (1,439)

 (1,045)

(Profits) losses from selling financial investments

 (497,894)

 (441,628)

Shares based payments

 464,539

 408,346

Bank's share in the profits of associates

 (1,135)

 (27,419)

Operating profits before changes in operating assets and liabilities

 19,222,093

 16,389,926

Net decrease (increase) in assets and liabilities

Due from banks

 (8,870,547)

 (13,661,577)

Treasury bills and other governmental notes

 -

 4,640,524

Financial assets at fair value through P&L

 2,318,924

 4,557,492

Derivative financial instruments

 (2,910)

 (66,141)

Loans and advances to banks and customers

 (14,533,328)

 (21,255,952)

Other assets

 163,933

 (2,263,465)

Due to banks

 4,550,788

 5,381,901

Due to customers

 19,151,586

 34,573,817

Income tax obligations paid

 (3,625,579)

 (2,778,973)

Other liabilities

 1,895,241

 1,025,022

Net cash provided from operating activities

 20,270,201

 26,542,574

Cash flow from investing activities

Payment for purchases of associates

 -

 (10,575)

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

 (1,303,181)

 (874,708)

Proceeds from selling property, plant and equipment

 1,439

 1,045

Proceeds from redemption of financial assets at amortized cost

 43,937,957

 -

Payment for purchases of financial assets at amortized cost

 (76,516,842)

 (33,995,313)

Payment for purchases of financial assets at fair value through OCI

 (50,954,311)

 (12,670,761)

Proceeds from selling financial assets at fair value through OCI

 54,855,966

 2,314,616

Proceeds from selling non current assets held for sale

 -

 2,059,341

Net cash used in investing activities

 (29,978,972)

 (43,176,355)

Consolidated cash flow statement for the year ended December 31, 2019

(Cont.)

Dec. 31, 2019

Dec. 31, 2018

EGP Thousands

EGP Thousands

Cash flow from financing activities

Increase (decrease) in long term loans

 (448,783)

 46,793

Dividend paid

 (2,700,544)

 (2,143,177)

Capital increase

 105,413

 50,315

Net cash used in financing activities

 (3,043,914)

 (2,046,069)

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

 (12,752,685)

 (18,679,850)

Beginning balance of cash and cash equivalent

 21,115,654

 39,795,504

Cash and cash equivalent at the end of the year

 8,362,969

 21,115,654

Cash and cash equivalent comprise:

Cash and balances with central bank

13

 28,273,962

 20,058,974

Due from banks

14

 28,370,183

 46,511,579

Treasury bills and other governmental notes

19

 27,634,062

 41,999,252

Obligatory reserve balance with CBE

13

 (22,397,310)

 (13,526,763)

Due from banks with maturities more than three months

 (25,125,951)

 (23,914,064)

Treasury bills with maturity more than three months

 (28,391,977)

 (50,013,324)

Obligatory reserve balance with CBE

 8,362,969

 21,115,654