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

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

Unconsolidated Financial Statements

June 30, 2010

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of Jun. 30, 2010

Amounts in EGP.

Note

Jun.30,2010

Dec.31, 2009 (Restated)

Assets

Cash & Due From Central Bank

15

4,443,419,294

4,179,212,739

Due From Banks

16

7,373,216,564

7,785,042,557

Treasury Bills & Other Notes Discountable at CBE

17

8,966,484,676

13,191,665,954

Trading Financial Assets

18

525,279,647

380,620,682

Loans & Overdrafts for Banks (Net after provisions)

19

171,581,721

200,765,433

Loans & Overdrafts for Customers (Net after provisions)

20

31,970,221,338

27,242,306,896

Financial Derivatives

21

179,172,680

225,347,220

Financial Investments

Available for Sale

22

12,117,471,590

7,420,529,606

Held to Maturity Financial Investments

22

541,595,709

579,926,673

Financial Investments in Subsidiary and associated companies

23

1,155,303,731

1,138,277,487

Real Estate investments

24

39,734,864

42,485,364

Debit Balances and Other Assets

25

1,180,313,426

918,003,883

Deferred Tax

33

37,960,358

39,799,318

Fixed Assets (Net)

26

725,285,450

718,847,964

Total Assets

69,427,040,048

64,062,831,776

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

27

765,564,434

458,145,229

Customer Deposits

28

59,633,149,045

54,842,629,843

Financial Derivatives

21

128,103,062

150,526,830

Credit Balances & Other Liabilities

30

826,865,606

1,128,964,486

Long Term Loans

29

29,106,602,986

93,237,042

Other Provisions

31

395,966,085

443,728,578

Total Liabilities

61,915,251,217

57,117,232,007

Shareholders' Equity

Issued & Paid- in Capital

32

2,950,721,800

2,925,000,000

Reserves

32

3,318,682,262

2,077,203,969

Reserve for employee stock ownership plan (ESOP)

121,008,772

161,728,984

Retained Earning

20,231,298

(1,942,684)

Total Shareholders' Equity

6,410,644,132

5,161,990,269

Net Profit of the Period

1,101,144,699

1,783,609,500

Total Shareholders' Equity & Net Profit

7,511,788,831

6,945,599,768

Total Liabilities & Shareholders' Equity

69,427,040,048

64,062,831,776

Contingent Liabilities & commitments

Letters of Credit, Guarantees and other commitments

37

11,467,215,063

12,637,872,568

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Jun. 30, 2010

Amounts in EGP.

Note

Jun. 30, 2010

Jun. 30, 2009

(Restated)

Interest and Similar Income

6

2,171,823,754

2,065,422,884

Interest Expense and Similar Charges

6

(1,080,940,095)

(1,059,411,520)

Net Interest Income

1,090,883,659

1,006,011,364

Fees & Commissions Income

7

413,742,057

313,645,336

Fees and Commissions Expense

7

(35,069,249)

(31,987,769)

Net Income from Fees and Commissions

378,672,808

281,657,567

Dividends Income

8

114,614,465

124,448,940

Net Trading Income

9

167,524,037

266,321,735

(Losses) Profit from Financial Investments

22

161,353,260

31,032,893

Administrative Expenses

10

(580,477,568)

(530,589,593)

Other operating (Expenses) Income

11

(27,887,628)

(26,274,460)

Return (Losses) of impairment of loans

12

2,072,511

72,963,371

Net Profit before Tax

1,306,755,545

1,225,571,817

Income Tax

13

(203,771,886)

(195,628,806)

Deferred Tax

13&33

(1,838,960)

9,380,366

Net Profit After Tax

1,101,144,699

1,039,323,377

Earning per share

Basic

14

3.00

3.00

Diluted

14

2.95

2.95

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of Jun. 30, 2010

Amounts in EGP.

Jun. 30, 2010

Jun. 30, 2009

Cash Flow From Operating Activities

Net Income Before Tax

1,306,755,545

1,225,571,817

Adjustments To Reconcile Net Income

To Net Cash Provided by operating Activities

Depreciation

89,779,487

94,192,342

Provisions (Formed during the period)

4,421,035

10,012,329

Trading Financial Investment Evaluation Differences

(15,180,477)

(20,074,180)

Impairment of Assets

(29,504,655)

(1,163,011)

Utilization of Provision (except Provisions for Doubtful Debts)

(1,539,864)

(5,061,073)

Provisions no longer used

(55,312,726)

(72,963,371)

FCY Revaluation Differences of Provision Balances except Doubtful Debt

4,669,062

1,916,734

Losses From Selling of Fixed Assets

(2,048,472)

(15,393,221)

Losses From Selling of financial Investments

(142,299,409)

(45,535,354)

Losses from selling an investment in subsidiary

96

-

FCY Revaluation Difference of Long Term Loans

(1,064,017)

308,628

Share Based Payments

37,844,433

40,268,360

Operating Profits Before Changes in Operating Assets and Liabilities

1,196,520,038

1,212,080,000

Net Decrease (Increase) in Assets

Due from banks

467,843,381

(1,910,710,733)

Treasury Bills & Other Governmental Notes

4,014,639,846

2,216,468,549

Trading Financial Assets

(129,477,489)

(256,677,449)

Financial Derivatives (Net)

82,750,772

(54,273,344)

Loans & Overdrafts

(4,698,730,728)

(873,938,640)

Net Increase (Decrease) In Liabilities

Debit Balances and Other Assets

(254,897,996)

125,335.428

Due to Banks

307,419,205

3,360,421,235

Customer Deposits

4,790,519,202

1,991,336,877

Credit Balances & Other Liabilities

(505,870,768)

(543,208,000)

Net Cash Provided from Operating Activities

5,270,715,463

5,266,833,923

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of Jun. 30, 2010

Jun. 30, 2010

Jun. 30, 2009

Cash Flow From Investment Activities

Investments in subsidiaries & associated companies

(17,026,244)

64,368,072

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

(101,580,048)

(82,211,182)

Redemption of Held-to-Maturity Financial Investments

49,226,583

48,739,592

Held to Maturity financial Investments Purchases

(10,895,619)

(6,169,428)

Available for Sale Financial Investments

(4,465,290,295)

(4,766,623,773)

Real Estate investments

2,750,500

3,839,052

Net Cash (Used in) Provided from Investment Activities

(4,542,815,124)

(4,738,057,667)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

14,429,961

(1,413,896)

Dividends Paid

(658,369,589)

(478,236,553)

Net Cash (Used in) provided from Financing Activities

(618,217,828)

(479,650,449)

Net cash & cash equivalent changes

109,682,511

49,125,806

Beginning Balance of cash and cash equivalent

10,062,335,630

8,622,040,072

Cash & Cash equivalent Balance At the End of the period

10,172,018,141

8,671,165,878

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

4,443,419,294

4,114,701,616

Due From Banks

7,373,216,564

7,807,348,485

Treasury Bills & other governmental notes

8,966,484,676

11,154,734,981

Due from Banks (time deposits) More than Three Months

(7,041,616,954)

(7,627,665,005)

Treasury Bills with Maturity More than Three Months

(3,569,485,439)

(6,777,954,199)

Total Cash & Cash Equivalent

10,172,018,141

8,671,165,878

Jun.30, 2009

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 Period

(EGP)

Reserve for Employee Stock ownership plan ESOP

Total

(EGP)

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

Effect of adjusting accounting standards

-

-

-

-

20,536,766

-

-

-

-

20,536,766

Beginning Balance after adjustments

2,925,000,000

432,851,511

407,547,602

(1,942,684)

206,530,551

(20,312,399)

-

1,615,100,458

86,727,903

5,651,502,942

Transfer to Reserves

-

80,755,023

1,056,108,882

-

-

-

-

(1,136,836,905)

-

-

Dividends Paid

-

-

-

-

-

-

-

(478,236,553)

-

(478,236,553)

Net Profit of the Period

-

-

-

-

-

-

-

1,039,323,377

-

1,039,323,377

Addition from financial investment revaluation

-

-

-

-

-

64,529,337

-

-

-

64,529,337

Effect of adjusting accounting standards

-

-

-

-

-

-

38,088,499

(38,088,499)

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

40,268,360

40,268,360

Balance at the end of the Period

2,925,000,000

513,606,534

1,463,656,484

(1,942,684)

206,530,551

44,216,938

38,088,499

1,001,234,878

126,996,263

6,317,387,462

Jun.30, 2010

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 period

(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

1,756,956,710

161,728,984

6,945,599,768

Capital Increase

25,721,800

-

-

-

-

-

-

-

-

25,721,800

Transfer to Reserves

-

87,847,835

1,010,739,284

-

-

-

-

(1,098,587,119)

-

-

Dividends Paid

-

-

-

-

-

-

-

(658,369,589)

-

(658,369,589)

Net Profit of the period

-

-

-

-

-

-

-

1,101,144,699

-

1,101,144,699

Transfer to retained earnings

-

-

-

22,173,982

(22,173,982)

-

-

-

-

-

Addition from financial investment revaluation

-

-

-

-

-

59,847,721

-

-

-

59,847,721

Transferred to bank risk reserve

-

-

-

-

-

-

99,419,052

(99,419,052)

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

78,564,646

-

-

-

-

-

(40,720,212)

37,844,433

Balance at the end of period

2,950,721,800

601,454,369

2,552,960,414

20,231,298

184,356,569

(46,741,879)

126,071,842

1,001,725,649

121,008,772

7,511,788,833