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

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

Financial Statements

March 31, 2009

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION 

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