Last checked at 14 May 2009 07:00
| Commercial International Bank (Egypt) S.A.E. | ||||
| Financial Statements | ||||
| March 31, 2009 | ||||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | ||||
| FINANCIAL POSITION |
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| As of Mar. 31, 2009 | ||||
| Amounts in L.E. | Note | 31-Mar-2009 | 31-Dec-2008 | |
| Assets | ||||
| Cash & Due From Central Bank | 5 | 5,118,066,563 | 4,473,011,942 | |
| Due From Banks | 6 | 8,291,704,629 | 6,411,397,744 | |
| Treasury Bills & Other Notes Discountable at CBE | 7 | 10,681,933,650 | 12,449,007,406 | |
| Trading Financial Assets | 8 | 758,193,635 | 497,554,487 | |
| Loans & Overdrafts | 11&12 | 26,727,428,671 | 26,330,327,878 | |
| Financial Derivatives | 13 | 697,768,236 | 704,890,792 | |
| Financial Investments | ||||
| Available for Sale | 9 | 5,650,268,726 | 2,762,232,984 | |
| Held to Maturity Financial Investments | 9 | 656,924,240 | 681,263,274 | |
| Financial Investments in Subsidiary and associated companies | 14 | 1,138,578,177 | 1,138,332,672 | |
| Debit Balances and Other Assets | 16 | 751,604,687 | 942,621,482 | |
| Deferred Tax | 28 | 27,977,947 | 21,840,568 | |
| Fixed Assets (Net) | 17 | 733,958,578 | 715,251,587 | |
| Total Assets | 61,234,407,739 | 57,127,732,816 | ||
| Liabilities & Shareholders' Equity | ||||
| Liabilities | ||||
| Due to Banks | 18 | 2,119,878,412 | 213,470,012 | |
| Customer Deposits | 19 | 51,300,180,130 | 48,938,109,663 | |
| Financial Derivatives | 13 | 574,775,091 | 636,914,744 | |
| Dividends & Profit Sharing | - | 478,236,553 | ||
| Credit Balances & Other Liabilities | 20 | 967,377,695 | 1,235,780,102 | |
| Long Term Loans | 21 | 115,754,589 | 109,273,933 | |
| Other Provisions | 22 | 363,176,683 | 363,218,186 | |
| Total Liabilities | 55,441,142,600 | 51,975,003,193 | ||
| Shareholders' Equity | ||||
| Issued & Paid- in Capital | 23 | 2,925,000,000 | 2,925,000,000 | |
| Reserves | 23 | 2,265,071,057 | 2,142,944,404 | |
| Reserve for employee stock ownership plan (ESOP) |
| 107,147,160 | 86,727,903 | |
| Retained Earning | (1,942,684) | (1,942,684) | ||
| Total Shareholders' Equity | 5,295,275,533 | 4,015,865,718 | ||
| Net Profit of the Period | 497,989,606 | 1,615,100,458 | ||
| Total Shareholders' Equity & Net Profit | 5,793,265,139 | 5,630,966,176 | ||
| Total Liabilities & Shareholders' Equity | 61,234,407,739 | 57,127,732,816 | ||
| Contingent & commitments Liabilities | ||||
| Letters of Credit, Guarantees and other commitments | 24 | 13,721,541,672 | 13,290,994,705 | |
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | ||||
| INCOME STATEMENT | ||||
| As of Mar. 31 2009 | ||||
| Amounts in LE. | Note | Mar. 31, 2009 | Mar. 31, 2008 | |
| Interest and Similar Income | 25 | 1,021,874,530 | 844,789,734 | |
| Interest and Similar Expenses | 25 | (530,723,817) | (458,439,105) | |
| Net Interest Income | 491,150,713 | 386,350,629 | ||
| Fees & Commissions Income | 149,349,876 | 192,871,129 | ||
| Fees and Commissions Expense | (16,029,590) | (10,667,364) | ||
| Net Income from Fees and Commissions | 133,320,286 | 182,203,765 | ||
| Dividends Income | 99,707,405 | 56,386,710 | ||
| Net Trading Income | 26 | 172,922,295 | 128,646,620 | |
| Provisions | 12 & 22 | (42,420,690) | (163,354,750) | |
| (Losses) Profit from Financial Investments | 9 | (2,354,217) | 16,014,221 | |
| Administrative Expenses | (252,913,703) | (187,424,812) | ||
| Other operating (Expenses) Income | 10 | (26,960,475) | 94,320,142 | |
| Net Profit before Tax | 572,451,614 | 513,142,525 | ||
| Income Tax | 29 | (80,599,387) | (30,444,223) | |
| Deferred Tax | 29&28 | 6,137,379 | (36,212,666) | |
| Net Profit After Tax | 497,989,606 | 446,485,636 | ||
| Earning per share | ||||
| Basic | 30 | 1.51 | 1.35 | |
| Diluted | 30 | 1.47 | 1.34 | |
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | ||||
| CASH FLOW STATEMENT 1a | ||||
| As of Mar. 31 2009 | ||||
| Amounts in LE. | Mar. 31, 2009 | Mar. 31, 2008 | ||
| Cash Flow From Operating Activities | ||||
| Net Income Before Tax | 572,451,614 | 513,142,525 | ||
| Adjustments To Reconcile Net Income | ||||
| Total Net Cash Provided by operating Activities | ||||
| Depreciation | 46,334,096 | 32,180,440 | ||
| Provisions (Additions during the period) | 42,420,690 | 163,354,750 | ||
| Trading Financial Investment Evaluation Differences | (9,294,939) | (6,314,685) | ||
| Impairment of Assets | (2,329,265) | 39,596,737 | ||
| Utilization of Provision (Other than Provision for Doubtful Debts) | (3,962,272) | (12,298) | ||
| Provisions no longer used | - | (94,395,171) | ||
| FCY Revaluation Differences of Provision Balances except Doubtful Debt | 2,899,477 | (619,241) | ||
| Gains From Selling of Fixed Assets | (609,735) | (29,524) | ||
| Profit From Selling of financial Investments | (7,567,855) | (7,926,142) | ||
| Profits from dispose part of a subsidiary | - | (50,258,991) | ||
| FCY Revaluation Difference of Long Term Loans | (560,550) | 1,320,333 | ||
| Share Based Payments | 20,419,257 | 13,792,481 | ||
| Operating Profit Before Changes in Operating Assets and Liabilities | 660,200,517 | 603,831,214 | ||
| Net Decrease (Increase) in Assets | ||||
| Due from banks | (2,425,305,063) | (6,430,858,152) | ||
| Treasury Bills & Other Notes Discountable at CBE | 193,665,319 | (185,393,667) | ||
| Trading Financial Assets | (251,344,208) | 33,346,977 | ||
| Financial Derivatives (Net) | (55,017,097) | (54,487,847) | ||
| Loans & Overdrafts | (434,661,139) | (3,090,458,189) | ||
| Net Increase (Decrease) In Liabilities | ||||
| Debit Balances and Other Assets | 180,789,985 | (63,563,260) | ||
| Due to Banks | 1,906,408,400 | 1,571,518,492 | ||
| Customer Deposits | 2,362,070,467 | 8,492,306,124 | ||
| Credit Balances & Other Liabilities | (349,001,794) | 323,530,458 | ||
| Net Cash Provided from Operating Activities | 1,787,805,387 | 1,199,772,149 | ||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | ||||
| CASH FLOW STATEMENT 1b | ||||
| As of Mar. 31 2009 | Mar. 31, 2009 | Mar. 31, 2008 | ||
| Cash Flow From Investment Activities | ||||
| Sales (Purchases) of subsidiaries & associated companies | 121,881,148 | 29,912,140 | ||
| Purchase of Fixed Assets, premises and Fitting-out of Branches | (58,043,594) | (52,193,502) | ||
| Redemption of Held-to-Maturity Financial Investments | 33,520,654 | 145,248,747 | ||
| Held to Maturity financial Investments Purchases | (9,181,620) | - | ||
| Available for Sale Financial Investments | (2,878,138,621) | 14,069,627 | ||
| Net Cash (Used in) Provided from Investment Activities | (2,789,962,034) | 137,037,012 | ||
| Cash Flow From Financing Activities | ||||
| Increase (Decrease) in Long Term Loans | 7,041,206 | 6,422,990 | ||
| Dividends Paid | (478,236,553) | (336,727,470) | ||
| Net Cash (Used in) provided from Financing Activities | (471,195,347) | (330,304,480) | ||
| Net cash & cash equivalent changes | (1,473,351,994) | 1,006,504,681 | ||
| 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 | 7,148,688,078 | 7,785,657,229 | ||
| Cash & Cash Equivalent are Represented as Follows | ||||
| Cash and Due from Central Bank | 5,118,066,563 | 6,434,125,884 | ||
| Due From Banks | 8,291,704,629 | 19,893,355,779 | ||
| Treasury Bills & other notes discountable at the CBE | 10,681,933,650 | 2,979,216,629 | ||
| Due from Banks (time deposits) | (8,142,259,335) | (19,695,076,686) | ||
| Treasury Bills with Maturity More than Three Months | (8,800,757,429) | (1,825,964,377) | ||
| Total Cash & Cash Equivalent | 7,148,688,078 | 7,785,657,229 | ||
| COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E | |
| STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY | |
| As of Mar. 31 2009 | |
| 2008 | Capital | Legal Reserve | General Reserve | 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 | - | 29,159,584 | 4,053,084,355 |
| Derivatives Revaluations Settlement | - | - | - | (13,571,026) | - | - | - | - | (13,571,026) |
| Capital Increase | 975,000,000 | - | (975,000,000) | - | - | - | - | - | - |
| Net Profits for period | - | - | - | - | - | - | 1,615,100,458 | - | 1,615,100,458 |
| Usage part of reserve | - | - | - | - | - | (81,215,930) | - | - | (81,215,930) |
| Reserve for employee stock ownership plan ESOP | - | - | - | - | - | - | - | 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 Reserve | General Reserve | Retained Earnings | Special Reserves | Reserves for A.F.S Inv. Revaluation Diff. | Profits of 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 | - | 80,755,023 | 1,056,108,882 | - | - | - | (1,136,863,905) | - | - |
| Dividends Paid | - | - | - | - | - | - | (478,236,553) | - | (478,236,553) |
| Net Profit for period | - | - | - | - | - | - | 497,989,606 | - | 497,989,606 |
| Addition from Financial Investment Revaluation | - | - | - | - | - | 122,126,653 | - | - | 122,126,653 |
| Reserve for employee stock ownership plan ESOP | - | - | - | - | - | - | - | 20,419,257 | 20,419,257 |
| Ending Balance | 2.925,000,000 | 513,606,534 | 1,463,656,484 | (1,942,684) | 185,993,785 | 101,814,254 | 497,989,606 | 107,147,160 | 5,793,265,139 |