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

Condensed Consolidated Financial Statements

June 30, 2023

Condensed Consolidated Interim Cash flows for the period ended June 30 2023

Notes

Jun. 30, 2023

Jun. 30, 2022

EGP Thousands

EGP Thousands

Cash flow from operating activities

Profit before income tax from continued operations

19,996,857

11,325,469

Profit (loss) from discontinued operations

(49,612)

-

Adjustments to reconcile profits to net cash provided by operating activities

Fixed assets depreciation

16

435,552

445,305

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

950,009

(41,818)

Other provisions charges

21

1,146,383

1,513,929

Impairment (Released) charge for credit losses (due from banks)

5,231

4,970

Impairment (Released) charge for credit losses (financial investments)

227,247

110,825

Impairment (Released) charge for other assets

-

(277,768)

Exchange revaluation differences for financial assets at fair value through OCI and AC

(5,858,602)

(2,840,747)

Goodwill amortization

26

20,629

20,629

Intangible assets amortization

27

5,183

5,183

Utilization of other provisions

21

(1,031)

(1,707)

Other provisions no longer used

21

-

(782)

Exchange differences of other provisions

21

1,178,333

303,949

profits from selling property and equipment

(130)

(1,142)

profits from selling financial investments at fair value through OCI

13

(92,572)

(1,065,443)

Shares based payments

402,192

384,255

Bank's share in the profits / losses of associates

26,630

(5,214)

Operating profits before changes in operating assets and liabilities

18,392,299

9,879,893

Net decrease (increase) in assets and liabilities

Due from banks

31,684,362

13,218,002

Financial assets at fair value through P&L

-

239,339

Derivative financial instruments

(213,992)

(882,092)

Loans and advances to banks and customers

11 - 12

(25,279,763)

(25,997,906)

Other assets

(4,443,895)

(280,761)

Non current assets held for sale

(214)

-

Due to banks

17

20,441,352

2,092,943

Due to customers

18

126,914,539

21,624,749

Current income tax obligations paid

(795,945)

(684,278)

Non current liabilities held for sale

933

-

Other liabilities

2,149,496

2,750,906

Net cash generated from (used in) operating activities

168,849,172

21,960,795

Cash flow from investing activities

Payment for purchases of property, equipment and branches constructions

(727,599)

(331,846)

Proceeds from selling property and equipment

130

1,142

Proceeds from redemption of financial assets at amortized cost

196,783

622,072

Payment for purchases of financial assets at amortized cost

(9,121,279)

(41,770)

Payment for purchases of financial assets at fair value through OCI

(51,268,261)

(67,715,983)

Proceeds from selling financial assets at fair value through OCI

59,321,328

44,348,943

Payment for investment in subsidiaries.

(1,008,761)

-

Net cash generated from (used in) investing activities

(2,607,659)

(23,117,442)

Condensed Consolidated Interim Cash flows for the period ended June 30, 2023 (Cont.)

Jun. 30, 2023

Jun. 30, 2022

EGP Thousands

EGP Thousands

Cash flow from financing activities

Other loans

3,179,561

846,869

Dividends paid

(3,594,747)

(4,410,322)

Issued debt instruments

614,030

307,661

Capital increase

369,876

122,716

Net cash generated from (used in) financing activities

568,720

(3,133,076)

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

166,810,233

(4,289,723)

Beginning balance of cash and cash equivalent

92,969,526

61,065,822

Cash and cash equivalent at the end of the period

259,779,759

56,776,099

Cash and cash equivalent comprise:

Cash and balances at the central bank

33,569,139

41,970,190

Due from banks

282,285,952

56,974,029

Treasury bills

10 

71,798,021

76,380,971

Obligatory reserve balance with CBE

(25,697,561)

(36,172,792)

Due from banks with maturities more than three months

(30,318,097)

(10,530,558)

Treasury bills with maturity more than three months

(71,857,695)

(71,845,741)

Total cash and cash equivalent

259,779,759

56,776,099

Condensed Consolidated Interim statement of changes in shareholders' equity

Jun. 30, 2022

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

Non Controlling Interest

Total

EGP Thousands

Beginning at 1 January 2022

19,702,418

3,293,074

28,260,532

1,550,906

8,183

16,000

641,372

9,141

13,696,402

1,674,392

(4,218)

68,848,202

454,535

69,302,737

Capital increase

122,716

-

-

-

-

-

-

-

-

-

-

122,716

-

122,716

Transferred to reserves

-

670,872

8,836,326

-

-

2,947

-

-

(9,007,223)

(502,922)

-

-

-

-

Dividends paid

-

-

-

-

-

-

-

-

(4,410,322)

-

-

(4,410,322)

-

(4,410,322)

Net profit of the period

-

-

-

-

-

-

-

-

7,764,797

-

-

7,764,797

15,530

7,780,327

Transferred to RE from financial assets at fair value through OCI

-

-

-

-

-

-

(4,227)

-

4,227

-

-

-

-

-

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

-

-

-

-

-

-

(7,377,135)

-

-

-

-

(7,377,135)

-

(7,377,135)

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

2,840

(2,840)

-

-

-

-

-

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

-

-

-

-

-

-

104,188

-

-

-

-

104,188

-

104,188

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

384,255

-

384,255

-

384,255

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

85,542

85,542

54,747

140,289

Balance at 30 June 2022

19,825,134

3,963,946

37,096,858

1,550,906

8,183

18,947

(6,635,802)

11,981

8,045,041

1,555,725

81,324

65,522,243

524,812

66,047,055

Jun. 30, 2023

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

Non Controlling Interest

Total

EGP Thousands

Beginning at January 2023

29,825,134

3,963,946

27,096,858

1,550,906

8,183

18,947

(13,188,818)

11,981

16,393,841

1,895,435

181,324

67,757,737

580,431

68,338,168

Capital increase

369,876

-

-

-

-

-

-

-

-

-

-

369,876

-

369,876

Transferred to reserves

-

806,408

12,743,849

-

-

2,208

-

-

(12,388,223)

(1,164,242)

-

-

-

-

Dividends paid

-

-

-

-

-

-

-

-

(3,738,888)

-

-

(3,738,888)

(17,108)

(3,755,996)

Net profit of the period

-

-

-

-

-

-

-

-

14,052,589

-

-

14,052,589

3,474

14,056,063

Transferred to RE from financial assets at fair value through OCI

-

-

-

-

-

-

(95,308)

-

95,308

-

-

-

-

-

Change in non-controlling interest from acquisition of subsidiaries

-

-

-

-

-

-

-

-

-

-

-

-

(536,867)

(536,867)

Reserve for transactions under common control

-

-

-

-

(679,155)

-

-

-

-

-

-

(679,155)

-

(679,155)

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

-

-

-

-

-

-

(9,949,190)

-

-

-

-

(9,949,190)

-

(9,949,190)

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

3,249

(3,249)

-

-

-

-

-

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

-

-

-

-

-

-

205,751

-

-

-

-

205,751

-

205,751

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

402,192

-

402,192

-

402,192

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

85,603

85,603

99,192

184,795

Balance at the end of the period

30,195,010

4,770,354

39,840,707

1,550,906

(670,972)

21,155

(23,027,565)

15,230

14,411,378

1,133,385

266,927

68,506,515

129,122

68,635,637