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

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

Financial Statements

March 31, 2008

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION 

As of June 30 2008

Amounts in L.E.

Note

30-June 2008

31-Dec-2007

Assets

Cash & Due From Central Bank

4

7,218,498,485

4,953,205,430

Due From Banks

5

14,522,244,685

13,782,062,043

Treasury Bills & Other Notes Discountable at CBE

6

2,776,871,582

2,948,674,319

Trading Financial Investments

7

778,685,567

588,473,270

Available for Sale Financial Investments

8

3,520,219,325

2,279,926,299

Loans & Overdrafts (Net of Provision for Doubtful Debts)

9&10

24,196,338,592

20,478,590,841

Held to Maturity Financial Investments

11

286,853,806

443,894,166

Financial Investments in Subsidiary and associated companies

12

345,159,835

365,723,936

Debit Balances and Other Assets

14

1,725,390,609

1,020,565,573

Deferred Tax

27

25,013,643

52,819,475

Fixed Assets (Net)

15

605,340,809

607,104,820

Total Assets

56,000,616,938

47,521,040,172

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

16

4,118,143,802

2,377,082,435

Customer Deposits

17

45,617,890,899

39,514,539,992

Dividends & Profit Sharing

0

336,727,470

Credit Balances & Other Liabilities

18

794,569,372

773,862,137

Long Term Loans

19

125,900,638

161,356,219

Other Provisions

20

416,680,652

395,332,813

Total Liabilities

51,073,185,363

43,558,901,066

Shareholders' Equity

Issued & Paid- in Capital

1,950,000,000

1,950,000,000

Reserves

1,005,541,430

1,982,979,522

Reserve for employee stock ownership plan (ESOP)

30

58,009,830

29,159,584

Capital Increase Reserve

30

975,000,000

-

Total Shareholders' Equity

21

3,988,551,260

3,962,139,106

Net Profit of the Period

938,880,315

-

Total Shareholders' Equity & Net Profit

4,927,431,575

3,962,139,106

Total Liabilities & Shareholders' Equity 

56,000,616,938

47,521,040,172

Contingent & commitments Liabilities

22

12,633,488,278

11,529,010,709

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of June. 30 2008

Amounts in LE.

Note

June. 30, 2008

June. 30, 2007

Interest Received from clients & Banks

1,547,978,621

1,183,516,681

Interest Received from Treasury Bills & Bonds

188,595,819

227,025,291

Interest Paid to Clients & Banks

(911,376,754)

(877,427,969)

Net Interest Income

825,197,686

533,114,003

Banking Fees & Commissions

363,336,660

282,332,402

Share Dividends

125,586,173

42,983,621

Foreign Exchange Profit

23

163,656,658

65,320,283

Profit from Selling Financial Investment

148,151,191

50,507,094

Profit from dispose part of subsidiaries

24

50,258,991

148,393,558

Trading financial Investment Revaluation Differences

(15,280,544)

2,433,163

Provisions no longer used

25

94,706,704

-

Other Income

30,337,240

13,622,254

Total Fee Income

960,753,073

605,592,375

Net Operating Income

1,785,950,759

1,138,706,378

Provisions

(164,755,386)

(147,500,000)

Other financial Investment Revaluation Differences

26

(87,605,853)

18,736,033

General & Administrative Expenses & Depreciation

(407,082,773)

(277,733,312)

Other Expenses

(55,055,061)

(38,307,332)

(714,499,073)

(444,804,611)

Net Operating Profits

1,071,451,686

693,901,767

Non-Operating income

5,034,478

-

Net Profit before Tax

1,076,486,164

693,901,767

Income Tax

28

(109,800,017)

(68,463,423)

Deferred Tax

28&27

(27,805,832)

9,936,179

Net Profit After Tax

938,880,315

635,374,523

Earnings per share

29

4.26

2.88

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of June. 30 2008

Amounts in LE.

June 30, 2008

June 30, 2007

Cash Flow From Operating Activities

Net Income Before Tax

1,076,486,164

693,901,767

Adjustments To Reconcile Net Income

Total Net Cash Provided by operating

Depreciation

65,209,394

58,369,810

Provisions (Additions during the period)

164,755,386

147,500,000

Trading Financial Investment Evaluation

15,280,544

(2,433,163)

Other Financial Investment Evaluation

87,605,853

(18,736,033)

Utilization of Provision (Other than Provision for Doubtful Debts)

(10,361,191)

-

Provisions no longer used

(94,706,704)

-

FCY Revaluation Differences of Provision Balances except Doubtful Debt

(1,783,606)

(111,248)

Gains From Selling of Fixed Assets

(5,034,478)

-

Profit From Selling of financial Investments

(148,151,191)

(50,507,094)

Profits from dispose part of a subsidiary

(50,258,991)

(148,393,558)

FCY Revaluation Difference of Long Term Loans

729,177

419,660

Reserve for employee stock ownership plan (ESOP)

28,850,246

14,579,792

Operating Profit Before Changes in Operating Assets and Liabilities

1,128,620,603

694,589,933

Net Decrease (Increase) in Assets

Due from banks

(1,015,132,615)

(4,968,766,697)

Treasury Bills & Other Notes Discountable at CBE

55,781,462

3,272,774,493

Trading Financial Investments

(205,492,841)

344,657,129

Available for Sale Financial Investments

(1,129,488,697)

1,123,301,245

Loans & Overdrafts

(3,902,357,346)

(2,297,011,795)

Debit Balances & Other Assets

(629,643,698)

(348,449,201)

Net Increase (Decrease) In Liabilities

Due to Banks

1,741,061,367

512,143,781

Customer Deposits

6,103,350,907

2,533,057,841

Credit Balances & Other Liabilities

5,613,922

(362,878,094)

Net Cash Provided from Operating Activities

2,152,313,064

503,418,635

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of June. 30 2008

June 30, 2008

June 30, 2007

Cash Flow From Investment Activities

Sales (Purchases) of subsidiaries & associated companies

18,126,009

82,426,172

Prepaid for Fixed Assets, premises and Fitting-out of Branches

(80,245,398)

(153,256,708)

Redemption of Held-to-Maturity Financial Investments

157,040,360

271,009,186

Net Cash (Used in) Investment Activities

94,920,971

200,178,650

Cash Flow From Financing Activities

Increase in Long Term Loans

(36,184,758)

26,750,908

Dividends Paid

(336,727,470)

(287,235,147)

Reserve for Financial Investments Revaluation Diff.

-

(328,756)

Net Cash (Used in) provided from Financing Activities

(372,912,228)

(260,812,995)

Net cash & cash equivalent changes

1,874,321,807

442,784,290

Beginning Balance of cash and cash equivalent

6,779,152,548

4,023,396,002

Cash & Cash equivalent Balance At the End of the period

8,653,474,355

4,466,180,292

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

7,218,498,485

3,417,012,100

Due From Banks

14,522,244,685

10,397,066,725

Treasury Bills & other notes discountable at the CBE

2,776,871,582

1,558,997,404

Due from Banks (time deposits)

(14,279,351,149)

(10,272,281,530)

Treasury Bills with Maturity More than Three Months

(1,584,789,248)

(634,614,407)

Total Cash & Cash Equivalent

8,653,474,355

4,466,180,292

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY

As of June 30 2008

2007

Capital 

Legal Reserves

General Reserves

Capital Increase Reserve 

Special Reserves

Reserves for Inv. Revaluation Diff.

Profits for the period

Reserve for Employee Stock ownership plan ESOP

Total

Beginning Balance

1,950,000,000

371,230,872

548,482,934

0

162,709,903

7,458,634

0

0

3,039,882,343

Transfer to reserves

0

61,620,639

834,064,668

0

0

0

(895,685,307)

0

0

Distributed profits

0

0

0

0

0

0

(336,727,470)

0

(336,727,470)

Net Profit for period

0

0

0

0

0

0

1,232,412,777

0

1,232,412,777

Usage part of reserve

0

0

0

0

0

(2,588,128)

0

0

(2,588,128)

Reserve for employee stock ownership plan ESOP

0

0

0

0

0

0

0

29,159,584

29,159,584

Ending Balance

1,950,000,000

432,851,511

1,382,547,602

0

162,709,903

4,870,506

0

29,159,584

3,962,139,106

2008

Capital 

Legal Reserves

General Reserves

Capital Increase Reserve

Special Reserves

Reserves for Inv. Revaluation Diff.

Profits for the period

Reserve for Employee Stock ownership plan ESOP

Total

Beginning Balance

1,950,000,000

432,851,511

1,382,547,602

0

162,709,903

4,870,506

0

29,159,584

3,962,139,106

Net Profit for period

0

0

0

0

0

0

938,880,315

0

938,880,315

Capital Increase Reserve

0

0

(975,000,000)

975,000,000

0

0

0

0

0

Usage part of reserve

0

0

0

0

0

(2,338,092)

0

0

(2,338,092)

Reserve for employee stock ownership plan ESOP

0

0

0

0

0

0

0

28,850,246

28,850,246

Ending Balance

1,950,000,000

432,851,511

407,547,602

975,000,000

162,709,903

2,432,414

938,880,315

58,009,830

4,927,431,575