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

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

Financial Statements

June 30, 2009

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION 

As of June 30 2009

Amounts in L.E.

Note

30-June 2009

31-Dec-2008

Assets

Cash & Due From Central Bank

5

4,114,701,616

4,473,011,942

Due From Banks

6

7,807,348,485

6,411,397,744

Treasury Bills & Other Governmental Notes

7

11,154,734,981

12,449,007,406

Trading Financial Assets

8

774,306,116

497,554,487

Loans & Overdrafts 

12&11

27,161,846,172

26,330,327,878

Financial Investments:

Available for Sale 

9

7,575,555,122

2,762,232,984

Held to Maturity 

9

638,693,110

681,263,274

Financial Investments in Subsidiary and associated 

companies

14

1,138,493,937

1,138,332,672

Debit Balances and Other Assets

16

754,460,068

942,621,482

Deferred Tax

28

31,220,934

21,840,568

Fixed Assets (Net)

17

773,811,530

715,251,587

Total Assets

62,355,894,834

57,127,732,816

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

18

3,573,891,247

213,470,012

Customer Deposits

19

50,929,446,540

48,938,109,663

Financial Derivatives

13

308,473,371

636,914,744

Credit Balances & Other Liabilities

20

869,125,264

1,235,780,102

Long Term Loans

21

108,168,665

109,273,933

Other Provisions

22

375,312,389

363,218,186

Total Liabilities

56,164,417,476

51,496,766,640

Shareholders' Equity

Issued & Paid- in Capital

23

2,925,000,000

2,925,000,000

Reserves

23

2,207,473,741

1,006,080,499

Reserve for employee stock ownership plan (ESOP)

126,996,263

86,727,903

Retained Earnings

(1,942,684)

(1,942,684)

Total Shareholders' Equity

5,257,527,320

4,015,865,718

Net Profit of the Period/ Year

933,950,038

1,615,100,458

Total Shareholders' Equity & Net Profit

6,191,477,358

5,630,966,176

Total Liabilities & Shareholders' Equity 

62,355,894,834

57,127,732,816

Contingent Liabilities & commitments 

Letters of Credit, Guarantees and Other Commitments

24

12,991,908,320

13,290,994,705

INCOME STATEMENT

As of June. 30 2009

June 30, 2009

June 30, 2008

(Restated)

Amounts in LE.

Note

Interest and similar income

25

2,012,664,456

1,684,590,269

Interest and similar expense

25

(1,059,411,520)

(928,362,172)

Net Interest Income

953,252,936

756,228,097

Fees & Commissions Income

313,645,336

363,936,283

Fees & Commissions Expense

(31,987,769)

(23,332,096)

Net Income from Fees & Commissions

281,657,567

340,604,187

Dividends Income

124,448,940

124,108,529

Net Trading Income

26

319,080,163

229,790,721

Provisions

12&22

(61,497,940)

(164,354,750)

(Losses) Profits from Financial Investments

9

31,032,893

94,481,354

Administrative Expenses

(530,589,594)

(407,483,408)

Other Operating (Expenses) Income

10

(16,262,131)

132,414,060

Net Profit Before Tax

1,101,122,834

1,105,788,790

Income Tax

29

(176,553,162)

(105,794,579)

Deferred Tax

28&29

9,380,366

(32,270,421)

Net Profit After Tax

933,950,038

967,723,790

Earnings Per Share

Basic 

2.83

2.93

Diluted

2.76

2.90

CASH FLOW STATEMENT 1a

As of June. 30 2008

June 30, 2009

June 30, 2008

(Restated)

Amounts in LE.

Cash Flow From Operating Activities

Net Income Before Tax

1,101,122,834

1,105,788,790

Adjustments To Reconcile Net Income

To Net Cash Provided by operating Activities

Depreciation

94,192,342

65,209,394

Provisions (Formed during the period)

61,497,940

164,755,386

Trading Financial Investment Evaluation Differences

(20,074,180)

15,280,544

Impairment of Assets

(1,163,011)

-

Utilization of Provision (Other than Provision for Doubtful Debts)

(5,061,073)

(10,361,191)

Provisions no longer used

-

(94,706,704)

FCY Revaluation Differences of Provision Balances (Except Doubtful Debts)

1,916,734

(1,783,606)

Losses From Selling of Fixed Assets

(15,393,221)

(5,034,478)

Losses From Selling of financial Investments

(45,535,354)

(60,545,338)

Losses from Selling an investment subsidiary

-

(15,258,991)

FCY Revaluation Difference of Long Term Loans

308,628

729,177

Share Based Payments

40,268,360

28,850,246

Operating Profit Before Changes in Operating Assets and Liabilities

1,212,079,998

1,157,923,229

Net Decrease (Increase) in Assets

Due from banks

(1,910,710,733)

(1,015,132,615)

Treasury Bills & Other Governmental Notes 

2,216,468,549

55,781,462

Trading Financial Assets

(256,677,448)

(205,492,841)

Financial Derivatives (Net)

(54,273,344)

(28,138,148)

Loans & Overdrafts

(873,938,640)

(3,902,357,346)

Net Increase (Decrease) In Liabilities

Debit Balances & Other Assets

129,174,480

(629,643,698)

Due to Banks

3,360,421,235

1,741,061,367

Customer Deposits

1,991,336,877

6,103,350,907

Credit Balances & Other Liabilities

(543,208,000)

4,449,444

Net Cash Provided from Operating Activities

5,270,672,974

3,281,801,761

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of June. 30 2009

June 30, 2009

June 30, 2008

Cash Flow From Investment Activities

Sales of subsidiaries & associated companies

64,368,072

18,126,009

Purchase of Fixed Assets, premises and Fitting-out of Branches

(82,211,182)

(80,245,398)

Redemption of Held-to-Maturity Financial Investments

48,739,592

157,040,360

Held to Maturity Financial Investment Purchases

(6,169,428)

-

Available for Sale Financial Investments

(4,766,623,773)

(1,129,488,697)

Net Cash (Used in) Provided from Investing Activities

(4,741,896,719)

(1,034,567,726)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

(1,413,896)

(36,184,758)

Dividends Paid

(478,236,553)

(336,727,470)

-

Net Cash (Used in) Financing Activities

(479,650,449)

(372,912,228)

Net cash & cash equivalent changes

49,125,805

1,874,321,807

Beginning Balance of cash and cash equivalent

8,622,040,072

6,779,152,548

Cash & Cash equivalent Balance At the End of the period

8,671,165,877

8,653,474,355

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

4,114,701,615

7,218,498,485

Due From Banks

7,807,348,485

14,522,244,685

Treasury Bills & other Governmental Notes

11,154,734,981

2,776,871,582

Due from Banks (time deposits)

(7,627,665,005)

(14,279,351,149)

Treasury Bills with Maturity More than Three Months

(6,777,954,199)

(1,584,789,248)

Total Cash & Cash Equivalent

8,671,165,877

8,653,474,355

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY

As of June 30 2009

2008

Capital 

Legal Reserves

General Reserves

Retained Earnings*

Special Reserves

Reserves for A.F.S* Inv. Revaluation Diff.

Profits of the year

Reserve for Employee Stock ownership plan ESOP

Total

Beginning Balance

1,950,000,000

432,851,511

1,382,547,602

11,628,342

185,993,785

60,903,531

0

29,159,584

4,053,084,355

Derivatives revaluations settlement*

0

0

0

(13,571,026)

0

0

0

0

(13,571,026)

Capital Increase*

975,000,000

0

(975,000,000)

0

0

0

0

0

0

Net Profit of the year

0

0

0

0

0

0

1,615,100,458

0

1,615,100,458

Usage part of reserve

0

0

0

0

0

(81,215,930)

0

0

(81,215,930)

Reserve for employee stock ownership plan ESOP**

0

0

0

0

0

0

0

57,568,319

57,568,319

Ending Balance

2,925,000,000

432,851,511

407,547,602

(1,942,684)

185,993,785

(20,312,399)

1,615,100,458

86,727,903

5,630,966,176

2009

Capital 

Legal Reserves

General Reserves*

Retained Earnings*

Special Reserves

Reserves for A.F.S* Inv. Revaluation Diff.

Profits for the period

Reserve for Employee Stock ownership plan ESOP

Total

Beginning Balance

2,925,000,000

432,851,511

407,547,602

(1,942,684)

185,993,785

(20,312,399)

1,615,100,458

86,727,903

5,630,966,176

Transfer to Reserves

0

80,755,023

1,056,108,882

0

0

0

(1,136,863,905)

0

0

Dividends Paid

0

0

0

0

0

0

(478,236,553)

0

(478,236,553)

Net Profits of the Period

0

0

0

0

0

0

933,950,038

0

933,950,038

Addition from financial Investment Revaluation

0

0

0

0

0

64,529,337

64,529,337

Reserve for employee stock ownership plan ESOP

0

0

0

0

0

0

0

40,268,360

40,268,360

Ending Balance

2,925,000,000

513,606,534

1,463,656,484

(1,942,684)

185,993,785

44,216,938

933,950,438

126,996,263

6,191,477,358