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

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

Separate Financial Statements

Year End , 2017

FINANCIAL POSITION

As of December 31st , 2017

Amounts in EGP Thousands

Note

December 31, 2017

December 31, 2016

Assets

Cash and balances with central bank

15

14,663,289

10,522,040

Due from banks

16

45,319,766

58,011,034

Treasury bills and other governmental notes

17

54,478,202

39,177,184

Trading financial assets

18

7,295,197

2,445,134

Loans and advances to banks, net

19

1,313

159,651

Loans and advances to customers, net

20

88,427,103

85,991,914

Derivative financial instruments

21

40,001

269,269

Financial investments

- Available for sale

22

30,474,781

5,447,291

- Held to maturity

22

45,167,722

53,924,936

Investments in associates and subsidiaries

23

54,068

10,500

Non current assets held for sale

42

-

428,011

Other assets

24

6,886,807

5,446,025

Intangible assets

41

368,923

499,131

Deferred tax assets (Liabilities)

32

179,630

181,308

Property, plant and equipment

25

1,414,519

1,338,629

Total assets

294,771,321

263,852,057

Liabilities and equity

Liabilities

Due to banks

26

1,877,918

3,008,996

Due to customers

27

250,767,370

231,965,312

Derivative financial instruments

21

196,984

331,091

Current tax liabilities

2,778,973

2,017,034

Other liabilities

29

5,476,531

3,579,330

Long term loans

28

3,674,736

160,243

Other provisions

30

1,615,159

1,514,057

Total liabilities

266,387,671

242,576,063

Equity

Issued and paid up capital

31

11,618,011

11,538,660

Reserves

34

8,725,966

3,443,319

Reserve for employee stock ownership plan (ESOP)

489,334

343,460

Total equity

20,833,311

15,325,439

Net profit for the period/year

7,550,339

5,950,555

Total equity and net profit for the period/ year

28,383,650

21,275,994

Total liabilities and equity

294,771,321

263,852,057

INCOME STATEMENT

As of December 31st , 2017

Amounts in EGP Thousands

Note

December 31, 2017

December 31, 2016

Interest and similar income

28,671,170

19,144,218

Interest and similar expense

(16,167,155)

(9,126,512)

Net interest income

6

12,504,015

10,017,706

Fee and commission income

2,676,944

1,965,529

Fee and commission expense

(624,278)

(417,573)

Net fee and commission income

7

2,052,666

1,547,956

Dividend income

8

34,514

34,236

Net trading income

9

1,292,215

1,315,182

Profits on financial investments

22

496,045

32,121

Administrative expenses

10

(3,112,508)

(2,432,652)

Other operating (expenses) income

11

(1,063,468)

(1,237,187)

Goodwill impairment

-

(209,842)

Intangible assets amortization

41

(130,208)

(130,208)

Impairment charge for credit losses

12

(1,742,281)

(892,874)

Profit before income tax

10,330,990

8,044,438

Income tax expense

13

(2,778,973)

(2,017,034)

Deferred tax assets (Liabilities)

32 & 13

(1,678)

(76,849)

Net profit for the Period

7,550,339

5,950,555

Earnings per share

14

Basic

5.76

4.54

Diluted

5.67

4.47

CASH FLOW STATEMENT

As of December 31st , 2017

Amounts in EGP Thousands

December 31, 2017

December 31, 2016

Cash flow from operating activities

Profit before income tax

10,330,990

8,044,438

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

Fixed assets depreciation

351,005

285,381

Impairment charge for credit losses

1,742,281

892,874

Other provisions charges

212,622

150,847

Trading financial investments revaluation differences

(248,072)

(269,283)

Available for sale and held to maturity investments exchange revaluation differences

100,078

(2,219,961)

Goodwill impairment

-

209,842

Intangible assets amortization

130,208

130,208

Financial investments impairment charge

(83,079)

82,428

Utilization of other provisions

(25,463)

(3,696)

Other provisions no longer used

(97,897)

(78,405)

Exchange differences of other provisions

11,840

583,550

Profits from selling property, plant and equipment

(607)

(1,682)

Profits from selling financial investments

99,047

(35,193)

Profits (losses) from selling associates

-

32,793

Shares based payments

290,884

187,000

Impairment (Released) charges of non-current assets held for sale

(340,504)

(131,799)

Operating profits before changes in operating assets and liabilities

12,473,333

7,859,342

Net decrease (increase) in assets and liabilities

Due from banks

(2,594,442)

264,072

Treasury bills and other governmental notes

(16,466,420)

(16,057,258)

Trading financial assets

(4,601,991)

3,672,526

Derivative financial instruments

95,161

(2,918)

Loans and advances to banks and customers

(4,019,132)

(29,833,291)

Other assets

(1,121,981)

(599,879)

Non-Current Assets Held for Sale

428,011

-

Due to banks

(1,131,078)

1,408,227

Due to customers

18,802,058

76,595,390

Income tax obligations paid

(2,017,034)

(1,949,694)

Other liabilities

1,897,201

957,061

Net cash provided from operating activities

1,743,686

42,313,578

Cash flow from investing activities

Proceeds from redemption of subsidiary and associates

750

-

Payment ( proceeds) for purchases and sell of subsidiary and associates

(44,318)

176,161

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

(745,089)

(560,631)

Proceeds from redemption of held to maturity financial investments

13,354,468

4,094

Payment for purchases of held to maturity financial investments

(4,597,254)

(1,243,669)

Payment for purchases of available for sale financial investments

(25,868,230)

(3,334,122)

Proceeds from selling available for sale financial investments

973,963

2,946,710

Proceeds from selling non current assets held for sale

628,521

-

Net cash used in investing activities

(16,297,189)

(2,011,457)

Cash flow from financing activities

Increase (decrease) in long term loans

3,514,493

28,915

Dividend paid

(1,350,204)

(1,463,450)

Capital Increase

79,351

68,057

Net cash used in financing activities

2,243,640

1,366,478

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

(12,309,863)

38,935,643

Beginning balance of cash and cash equivalent

61,518,700

22,583,057

Cash and cash equivalent at the end of the period

49,208,837

61,518,700

Cash and cash equivalent comprise:

Cash and balances with central bank

14,663,289

10,522,040

Due from banks

45,319,766

58,011,034

Treasury bills and other governmental notes

54,478,202

39,177,184

Obligatory reserve balance with CBE

(8,878,986)

(5,438,235)

Due from banks with maturities more than three months

(1,719,586)

(2,565,895)

Treasury bills with maturity more than three months

(54,653,848)

(38,187,428)

Total cash and cash equivalent

49,208,837

61,518,700