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

http://www.rns-pdf.londonstockexchange.com/rns/5446L_-2017-7-19.pdf

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

Separate Financial Statements

June 30th , 2017

FINANCIAL POSITION

As of June 30th , 2017

Amounts in EGP Thousands

Note

June 30, 2017

December 31, 2016

Assets

Cash and balances with central bank

15

19,497,893

10,522,040

Due from banks

16

58,552,276

58,011,034

Treasury bills and other governmental notes

17

43,092,546

39,177,184

Trading financial assets

18

1,531,630

2,445,134

Loans and advances to banks, net

19

367

159,651

Loans and advances to customers, net

20

91,221,870

85,991,914

Derivative financial instruments

21

57,218

269,269

Financial investments

- Available for sale

22

6,840,040

5,447,291

- Held to maturity

22

48,489,487

53,924,936

Investments in associates

23

9,750

10,500

Non current assets held for sale

42

222,665

428,011

Other assets

24

6,150,001

5,446,025

Intangible assets

41

434,027

499,131

Deferred tax assets (Liabilities)

32

178,253

181,308

Property, plant and equipment

25

1,355,916

1,338,629

Total assets

277,633,939

263,852,057

Liabilities and equity

Liabilities

Due to banks

26

1,585,589

3,008,996

Due to customers

27

245,162,646

231,965,312

Derivative financial instruments

21

156,580

331,091

Current tax liabilities

1,249,710

2,017,034

Other liabilities

29

3,654,428

3,579,330

Long term loans

28

146,287

160,243

Other provisions

30

1,558,854

1,514,057

Total liabilities

253,514,094

242,576,063

Equity

Issued and paid up capital

31

11,618,011

11,538,660

Reserves

34

8,543,172

3,443,319

Reserve for employee stock ownership plan (ESOP)

351,790

343,460

Total equity

20,512,973

15,325,439

Net profit for the period/year

3,606,872

5,950,555

Total equity and net profit for the period/ year

24,119,845

21,275,994

Total liabilities and equity

277,633,939

263,852,057

INCOME STATEMENT

As of June 30, 2017

Amounts in EGP Thousands

Note

June 30, 2017

June 30, 2016

Interest and similar income

13,197,728

8,595,146

Interest and similar expense

(7,454,779)

(4,061,260)

Net interest income

6

5,742,949

4,533,886

Fee and commission income

1,317,034

937,206

Fee and commission expense

(267,157)

(173,523)

Net fee and commission income

7

1,049,877

763,683

Dividend income

8

26,136

28,911

Net trading income

9

620,594

408,523

Profits on financial investments

22

323,564

59,058

Administrative expenses

10

(1,500,726)

(1,204,462)

Other operating (expenses) income

11

(528,307)

(316,881)

Goodwill impairment

41

-

(21,707)

Intangible assets amortization

41

(65,104)

(65,104)

Impairment charge for credit losses

12

(809,346)

(503,979)

Profit before income tax

4,859,637

3,681,928

Income tax expense

13

(1,249,710)

(957,424)

Deferred tax assets (Liabilities)

32 & 13

(3,055)

4,893

Net profit for the Period

3,606,872

2,729,397

Earnings per share

14

Basic

2.75

2.08

Diluted

2.71

2.05

CASH FLOW STATEMENT

As of June 30, 2017

Amounts in EGP Thousands

June 30, 2017

June 30, 2016

Cash flow from operating activities

Profit before income tax

4,859,637

3,681,928

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

Fixed assets depreciation

170,012

134,956

Impairment charge for credit losses

809,346

503,979

Other provisions charges

148,424

51,547

Trading financial investments revaluation differences

(129,484)

124,229

Available for sale and held to maturity investments exchange revaluation differences

26,389

(263,567)

Goodwill impairment

-

21,707

Intangible assets amortization

65,104

65,104

Financial investments impairment charge

(121,734)

52,614

Utilization of other provisions

(21,939)

(1,800)

Other provisions no longer used

(97,879)

(37,312)

Exchange differences of other provisions

16,191

58,501

Profits from selling property, plant and equipment

-

(537)

Profits from selling financial investments

101,465

(16,243)

Profits (losses) from selling associates

-

(84,948)

Shares based payments

153,340

97,321

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

(312,584)

-

Operating profits before changes in operating assets and liabilities

5,666,288

4,387,479

Net decrease (increase) in assets and liabilities

Due from banks

(6,167,220)

(608,433)

Treasury bills and other governmental notes

(4,707,972)

5,366,184

Trading financial assets

1,042,988

1,926,279

Derivative financial instruments

37,540

(92,958)

Loans and advances to banks and customers

(5,880,018)

(4,359,858)

Other assets

(563,155)

551,657

Non-Current Assets Held for Sale

205,346

-

Due to banks

(1,423,407)

(236,908)

Due to customers

13,197,334

14,318,023

Income tax obligations paid

(2,017,034)

(1,949,694)

Other liabilities

75,098

219,345

Net cash provided from operating activities

(534,212)

19,521,116

Cash flow from investing activities

Proceeds from selling subsidiary and associates

750

160,003

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

(328,120)

(333,546)

Proceeds from redemption of held to maturity financial investments

10,030,359

2,671

Payment for purchases of held to maturity financial investments

(4,594,910)

(1,856,288)

Payment for purchases of available for sale financial investments

(1,916,162)

(2,703,756)

Proceeds from selling available for sale financial investments

683,505

2,670,755

Proceeds from selling non-current assets held for sale

500,867

-

Net cash used in investing activities

4,376,289

(2,060,161)

Cash flow from financing activities

Increase (decrease) in long term loans

(13,956)

13,524

Dividend paid

(1,350,207)

(1,463,450)

Capital Increase

79,351

68,057

Net cash used in financing activities

(1,284,812)

(1,381,869)

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

2,557,265

16,079,086

Beginning balance of cash and cash equivalent

61,518,700

22,397,171

Cash and cash equivalent at the end of the period

64,075,965

38,476,257

Cash and cash equivalent comprise:

Cash and balances with central bank

19,497,893

11,251,951

Due from banks

58,552,276

36,100,865

Treasury bills and other governmental notes

43,092,546

16,949,949

Obligatory reserve balance with CBE

(10,832,277)

(8,412,172)

Due from banks with maturities more than three months

(3,339,073)

(464,462)

Treasury bills with maturity more than three months

(42,895,400)

(16,949,874)

Total cash and cash equivalent

64,075,965

38,476,257