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

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

Unconsolidated Financial Statements

December 31, 2011

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of Dec. 31, 2011

Amounts in EGP.

Note

Dec. 31 ,2011

Dec.31, 2010 (Restated)

Assets

Cash and Due with Central Bank

15

7,492,064,510

5,675,241,791

Due From Banks

16

8,449,298,705

6,769,607,397

Treasury Bills and Other Governmental Notes

17

9,213,390,067

8,821,003,566

Trading Financial Assets

18

561,084,273

1,422,038,841

Loans and Advances to Banks

19

1,395,594,609

125,833,038

Loans and Advances to Customers

20

39,669,785,864

35,048,707,895

Derivative Financial Investments

21

146,544,656

139,263,948

Financial Investments

Available for Sale

15,412,566,069

13,605,347,030

Held to Maturity

29,092,920

289,151,745

Investments in Subsidiary and Associates

23

995,595,778

996,317,538

Real Estate Investments

24

12,774,686

28,695,664

Other Assets

25

1,518,509,876

1,375,945,140

Deferred Tax

33

95,141,726

79,656,694

Property, Plant and Equipment

26

636,775,294

716,071,158

Total Assets

85,628,219,033

75,092,881,445

Liabilities and Equity

Liabilities

Due to Banks

27

3,340,794,517

1,322,279,909

Due to Customers

28

71,574,047,530

63,479,883,624

Derivative Financial Instruments

21

114,287,990

113,551,040

Other Liabilities

30

1,313,785,436

1,128,919,206

Long Term Loans

29

99,333,376

129,113,425

Other Provisions

31

264,625,909

310,238,930

Total Liabilities

76,706,874,758

66,483,986,134

Equity

Issued & Paid- in Capital

32

5,934,562,990

5,901,443,600

Reserves

32

1,085,472,868

396,687,711

Reserve for Employee Stock Ownership Plan (ESOP)

137,354,419

149,520,859

Retained Earnings

15,105,920

20,231,298

Total Equity

7,172,496,197

6,488,024,694

Net Profit of the Year After Tax

1,748,848,078

2,141,011,844

Total Equity and Net Profit for the Year

8,921,344,275

8,613,930,617

Total Liabilities and Equity

85,628,219,033

75,092,881,445

Contingent Liabilities and Commitments

Letters of Credit, Guarantees and other commitments

37

12,559,603,516

11,879,748,713

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Dec. 31, 2011

Amounts in EGP.

Note

Dec.31, 2011

Dec. 31, 2010

Restated

Interest and Similar Income

5,459,248,277

4,521,390,287

Interest and Similar Expense

(2,780,703,161)

(2,266,569,515)

Net Interest Income

6

2,678,545,116

2,254,820,772

Fee and Commissions Income

865,620,940

835,154,241

Fee and Commissions Expense

(87,451,431)

(84,876,559)

Net Income from Fees and Commissions

7

778,169,509

750,277,682

Dividend Income

8

69,921,078

1284,309,092

Net Trading Income

9

330,958,993

433,251,040

Profit from Financial Investments

22

76,063,911

102,559,206

Administrative Expenses

10

(1,336,701,608)

(1,187,939,938)

Other Operating (Expenses) Income

11

(85,530,954)

1,771,329

Impairment Charge for Credit Loses

12

(320,648,863)

(6,163,496)

Net Profit before Tax

2,179,777,182

2,532,885,687

Income Tax Expense

13

(446,414,136)

(431,731,219)

Deferred Tax

13 and 33

15,485,032

39,857,376

Net Profit of the Year

1,748,848,078

2,141,011,844

Earning per share

14

Basic

2.44

3.00

Diluted

2.39

2.94

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of Dec. 31, 2011

Amounts in EGP.

Dec. 31, 2011

Dec. 31, 2010

Restated

Cash Flow From Operating Activities

Net Profit Before Tax

2,179,777,182

2,532,885,687

Adjustments To Reconcile Net Profit to Net Cash

Provided by Operating Activities

Depreciation

185,074,214

179,021,238

Assets Impairment Charges

322,276,483

6,783,757

Other Provisions Charges

4,217,707

77,632,778

Trading Financial Investment Revaluation Differences

61,887,578

(76,970,503)

Financial Investments Impairment Charge (Release)

(60,754,172)

(84,837,159)

Utilization of Other Provisions

(3,412,238)

(1,990,637)

Other Provisions No Longer Used

(48,748,110)

(178,037,726)

Exchange Differences of Other Provisions

2,329,620

7,340,620

Profits From Selling Property, Plant and Equipment

(2,716,747)

(1,574,746)

Profits From Selling Financial Investments

(100,273,310)

(209,478,369)

Profits from Selling Associates

(1,873,813)

96

Exchange Difference of Long Term Loans

164,818

141,768

Share Based Payments

77,459,887

66,356,519

Investments in Subsidiary and Associates Revaluation

17,721,760

158,363,395

Real Estate Investments Impairment Charges

400,000

7,800,000

Operating Profits Before Changes in Operating Assets and Liabilities

2,633,530,859

2,653,111,036

Net Decrease (Increase) in Assets and Liabilities

Due from banks

(1,857,455,963)

1,114,664,704

Treasury Bills & Other Governmental Notes

(1,729,254,403)

492,012,203

Trading Financial Assets

799,066,990

(964,447,656)

Derivative Financial Instrument

(6,543,758)

49,107,482

Loans and Advances to Banks and Customers

(6,213,116,023)

(7,776,687,046)

Other Assets

(92,518,310)

(452,877,544)

Due to Banks

2,018,514,608

864,134,680

Due to Customers

8,094,163,906

6,637,253,781

Other Liabilities

(261,547,906)

(436,811,802)

Net Cash Provided from Operating Activities

3,384,840,000

4,179,459,838

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of Dec. 31, 2011

Dec. 31, 2011

Dec. 31, 2010

Restated

Cash Flow From Investing Activities

Purchase of Subsidiary and Associates

(18,000,000)

(16,452,199)

Proceeds from Selling Subsidiary and Associates

1,000,000

48,750

Purchases of Property, Plant and Equipment

(153,108,029)

(179,733,400)

Redemption of Held-to-Maturity Financial Investments

270,175,192

311,446,590

Purchases of Held to Maturity Financial Investments

(5,000,000)

(5,012,498)

Purchases of Available for Sale Financial Investments

(4,535,816,258)

(9,474,625,202)

Proceeds from Selling Available for Sale Financial Investments

2,181,325,960

3,492,400,008

Proceeds from Selling Real Estate Investments

15,520,978

5,989,700

Net Cash Generated from (Used in) Investing Activities

(2,243,902,157)

(5,865,938,251)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

(29,944,867)

35,734,615

Dividends Paid

(841,922,204)

(658,369,589)

Capital Increase

33,119,390

25,721,800

Net Cash Generated from (Used in) Financing Activities

(838,747,681)

(596,913,174)

Net Increase (Decrease) in Cash and Cash Equivalent

302,190,161

(2,283,391,587)

Beginning Balance of Cash and Cash Equivalent

7,778,944,041

10,062,335,629

Cash and Cash Equivalent Balance At the End of the Year

8,081,134,202

7,778,944,041

Cash & Cash Equivalent Comprise

Cash and Balances with Central Bank

7,492,064,510

5,675,241,791

Due From Banks

8,449,298,705

9,266,085,911

Treasury Bills and Other Governmental Notes

9,213,390,067

8,821,003,566

Obligatory Reserve Balance With CBE

(3,014,779,811)

(2,496,478,514)

Due from Banks (Time Deposits) More than Three Months

(5,237,471,784)

(6,394,795,631)

Treasury Bills with Maturity More than Three Months

(8,821,367,485)

(7,092,113,081)

Total Cash & Cash Equivalent

8,081,134,202

7,778,944,042

Dec.31, 2010

Restated

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 Year

(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

1,756,956,708

161,728,985

6,945,599,768

Capital Increase

2,976,443,600

(476,326,032)

(2,474,395,768)

-

-

-

-

-

-

25,721,800

Transferred to Reserves

-

87,847,835

1,089,303,930

-

-

-

-

(1,098,587,119)

(78,564,646)

-

Dividends Paid

-

-

-

-

-

-

-

(658,369,589)

-

(658,369,589)

Net Profit of the Year

-

-

-

-

-

-

-

2,141,011,844

-

2,141,011,844

Transferred to Retained Earnings

-

-

-

22,173,982

(22,173,982)

-

-

-

-

-

Addition from Financial Investment Revaluation

-

-

-

-

-

108,716,196

-

-

-

108,716,196

Transferred to Bank Risk Reserve

-

-

-

-

-

-

130,339,725

(130,339,725)

-

-

Reserve for Employee Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

66,356,519

66,356,519

The Effect of Changing Accounting Policies

-

-

-

-

-

(20,141,227)

-

-

-

(20,141,227)

Balance at the end of the Year

5,901,443,600

125,128,337

78,564,646

20,231,298

184,356,569

(18,014,631)

156,992,515

2,010,672,119

149,520,859

8,608,895,311

Dec.31, 2011

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 year

(EGP)

Reserve for Employee Stock Ownership Plan ESOP

Total

(EGP)

Beginning Balance

5,901,443,600

125,128,337

78,564,646

20,231,298

184,356,569

(18,014,631)

156,992,515

2,010,672,119

149,520,859

8,608,895,311

Capital Increase

33,119,390

-

-

-

-

-

-

-

-

33,119,390

Transferred to Reserves

-

106,216,559

1,155,710,314

-

1,574,746

-

-

(1,173,875,293)

(89,626,327)

-

Dividends Paid

-

-

-

(20,231,298)

-

-

-

(821,690,906)

-

(841,922,204)

Net Profit of the Year

-

-

-

-

-

-

-

1,748,848,078

-

1,748,848,078

Addition from Financial Investment Revaluation

-

-

-

-

-

(705,056,187)

-

-

-

(705,056,187)

Transferred to Bank Risk Reserve

-

-

-

-

-

-

124,697,104

(124,697,104)

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

77,459,887

77,459,887

The Effect of Changing Accounting Policies

-

-

-

15,105,920

-

-

-

(15,105,920)

-

-

Balance at the End of Year

5,934,562,990

231,344,896

1,234,274,960

15,105,920

185,931,315

(723,070,818)

281,689,619

1,624,150,975

137,354,419

8,921,344,275