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

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

Unconsolidated Financial Statements

March 31, 2011

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of Mar. 31, 2011

Amounts in L.E.

Note

31-Mar-2011

31-Dec-2010

Assets

Cash & Due From Central Bank

15

5,168,264,756

5,675,241,791

Due From Banks

16

9,859,268,757

6,769,607,397

Treasury Bills & Other Governmental Notes

17

9,309,050,446

8,821,003,566

Trading Financial Assets

18

454,313,081

1,422,038,841

Loans & Overdrafts for Banks (Net after provisions)

19

138,686,508

128,527,576

Loans & Overdrafts for Customers (Net after provisions)

20

36,246,869,496

35,046,013,357

Financial Derivatives

21

148,427,287

139,263,948

Financial Investments

Available for Sale

22

14,232,303,387

13,605,347,030

Held to Maturity Financial Investments

22

260,407,077

289,151,745

Financial Investments in Subsidiary and associated companies

23

995,826,410

996,317,538

Real Estate investments

24

28,334,464

28,695,664

Debit Balances and Other Assets

25

1,260,281,209

1,375,945,140

Deferred Tax

33

88,761,657

79,656,694

Fixed Assets (Net)

26

675,866,141

716,071,158

Total Assets

78,866,660,676

75,092,881,445

Liabilities & Shareholders' Equity

Liabilities

Due to Banks

27

3,163,307,305

1,322,279,909

Customer Deposits

28

65,364,462,891

63,479,883,625

Financial Derivatives

21

86,751,315

113,551,040

Dividends Payable

590,144,360

-

Credit Balances & Other Liabilities

30

1,239,688,770

1,123,883,898

Long Term Loans

29

264,950,901

129,113,425

Other Provisions

31

317,483,511

310,238,930

Total Liabilities

71,026,789,053

66,478,950,826

Shareholders' Equity

Issued & Paid- in Capital

32

5,901,443,600

5,901,443,600

Reserves

32

1,435,680,865

416,828,938

Reserve for employee stock ownership plan (ESOP)

170,224,598

149,520,859

Retained Earning

-

20,231,298

Total Shareholders' Equity

7,507,349,063

6,488,024,695

Net Profit of the Period/Year after tax

332,522,560

2,125,905,924

Total Shareholders' Equity & Net Profit of the period/year

7,839,871,623

8,613,930,619

Total Liabilities & Shareholders' Equity

78,866,660,676

75,092,881,445

Contingent Liabilities & commitments

Letters of Credit, Guarantees and other commitments

37

12,084,590,939

11,879,748,713

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Mar. 31 2011

Amounts in LE.

Note

Mar. 31, 2011

Mar. 31, 2010

Interest and Similar Income

6

1,284,128,056

1,0349,22,676

Interest Expense and Similar Charges

6

(653,362,417)

(515,815,154)

Net Interest Income

630,765,639

519,107,522

Fees & Commissions Income

7

191,450,381

204,371,718

Fees and Commissions Expense

7

(18,987,766)

(17,257,198)

Net Income from Fees and Commissions

172,462,615

187,114,520

Dividends Income

8

442,234

84,821,549

Net Trading Income

9

110,148,196

80,673,822

Profit from Financial Investments

22

44,383,949

58,397,638

Administrative Expenses

10

(353,686,436)

(289,008,834)

Other operating (Expenses) Income

11

(69,453,461)

22,733,232

Losses of impairment of loans

12

(122,800,880)

(1,911,080)

Net Profit before Tax

412,261,856

661,928,369

Income Tax

13

(88,844,259)

(98,518,063)

Deferred Tax

13&33

9,104,963

6,326,259

Net Profit After Tax

332,522,560

569,736,565

Earning per share

Basic

14

0.50

0.79

Diluted

14

0.49

0.77

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT

As of Mar. 31 2011

Amounts in LE.

Mar. 31, 2011

Mar. 31, 2010

Cash Flow From Operating Activities

Net Income Before Tax

412,261,856

661,928,364

Adjustments To Reconcile Net Income

To Net Cash Provided by operating Activities

Depreciation

56,694,622

45,303,560

Provisions (Formed during the period)

129,138,252

2,082,736

Trading Financial Investment Evaluation Differences

41,629,180

(14,065,167)

Impairment of Assets

(48,065,735)

(2,242,962)

Utilization of Provision (except Provisions for Doubtful Debts)

(2,939,853)

(1,361,150)

Provisions no longer used (except provisions for doubtful debts)

-

(37,554,170)

FCY Revaluation Differences of Provision Balances (except Doubtful Debt)

3,969,911

409,559

Profits From Selling of Fixed Assets

(942,513)

(1,833,430)

Profits From Selling of financial Investments

(48,401,288)

(62,495,543)

Profits from selling an investment in associated

(1,873,813)

-

FCY Revaluation Difference of Long Term Loans

5,076,685

(886,352)

Share Based Payments

20,703,739

18,922,217

Investment in subsidiary and associated co evaluation differences

(508,872)

(39,195)

Impairment from Real estate investments

361,200

-

Operating Profits Before Changes in Operating Assets and Liabilities

567,103,371

608,168,470

Net Decrease (Increase) in Assets and liabilities

Due from banks

(3,279,186,926)

24,633,442

Treasury Bills & Other Governmental Notes

2,022,306,742

1,454,263,087

Trading Financial Assets

926,096,580

8,015,429

Financial Derivatives (Net)

(35,963,064)

23,862,901

Loans & Overdrafts

(1,333,938,801)

(2,087,309,696)

Debit Balances and Other Assets

125,682,921

(249,236,101)

Due to Banks

1,841,027,396

603,415,124

Customer Deposits

1,884,579,267

3,472,359,032

Credit Balances & Other Liabilities

26,960,613

145,078,386

Net Cash Provided from Operating Activities

2,744,668,099

4,003,250,075

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT

As of Mar. 31 2011

Mar. 31, 2011

Mar. 31, 2010

Cash Flow From Investing Activities

Incoming from Selling Subsidiary and Associated Co.

1,000,000

-

Purchase of fixed assets, premises and fitting out of branches

(25,566,082)

(80,937,383)

Redemption of Held-to-Maturity Financial Investments

34,585,979

33,318,731

Purchase of Available for sale financial Investment

(819,819,923)

(1,392,664,099)

Net Cash (Used in) Provided from Investing Activities

(809,800,026)

(1,441,268,455)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

130,760,791

(3,120,639)

Dividends Paid

(251,777,844)

(658,369,589)

Net Cash (Used in) provided from Financing Activities

(121,017,053)

(661,490,228)

Net cash & cash equivalent changes

1,813,851,020

1,901,477,096

Beginning Balance of cash and cash equivalent

7,778,944,041

10,062,335,630

Cash & Cash equivalent Balance At the End of the period

9,592,795,061

11,963,812,726

Cash & Cash Equivalent are Represented as Follows

Cash and Due from Central Bank

5,168,264,756

4,098,439,328

Due From Banks

9,859,268,757

7,909,044,105

Treasury Bills & other governmental notes

9,309,050,446

13,571,018,384

Due from Banks (time deposits) More than three months

(9,673,982,557)

(7,484,826,893)

Treasury Bills with Maturity More than Three Months

(5,069,806,341)

(6,129,862,198)

Total Cash & Cash Equivalent

9,592,795,061

11,963,812,726

31 March

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 after adjustments

2,925,000,000

513,606,534

1,463,656,484

(1,942,684)

206,530,551

(106,589,600)

26,652,790

1,756,956,708

161,728,985

6,945,599,768

Transferred 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

-

-

-

-

-

-

-

569,736,565

-

569,736,565

Transferred to retained earning

-

-

-

22,173,982

(22,173,982)

-

-

-

-

-

Addition from financial investment revaluation

-

-

-

-

-

84,127,558

-

-

-

84,127,558

Transferred to Bank Risk Reserve

-

-

-

-

-

-

44,378,643

(44,378,643)

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

18,922,217

18,922,217

Balance at the end of Period

2,925,000,000

601,454,369

2,474,395,768

20,231,298

184,356,569

(22,462,042)

71,031,433

525,357,922

180,651,202

6,960,016,518

31 March

2011

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

5,901,443,600

125,128,337

78,564,646

20,231,298

184,356,569

2,126,596

156,992,515

1,996,566,199

149,520,859

8,613,930,618

Transferred to Reserves

-

106,216,559

1,066,083,988

-

1,574,746

-

-

(1,173,875,293)

-

-

Dividends Paid

-

-

-

(20,231,298)

-

-

-

(821,690,906)

-

(841,922,204)

Net Profit of the period

-

-

-

-

-

-

-

332,522,560

-

332,522,560

Addition from financial investment revaluation

-

-

-

-

-

(285,363,091)

-

-

-

(285,363,091)

Transferred to bank risk Reserves

-

-

-

-

-

-

(2,648,019)

2,648,019

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

20,703,739

20,703,739

Balance at the end of period

5,901,443,600

231,344,896

1,144,648,633

-

185,931,315

(283,236,495)

154,344,496

335,170,579

170,224,598

7,839,871,623