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Commercial International Bank (Egypt) S.A.E.
|
|
Consolidated Financial Statements
|
|
March 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
|
|
FINANCIAL POSITION
|
|
|
|
|
|
As of March 31, 2016
|
|
|
|
|
|
|
Note
|
Mar.31, 2016
|
|
Dec. 31 ,2015
|
|
|
|
EGP Thousands
|
|
EGP Thousands
|
|
Assets
|
|
|
|
|
|
Cash and Balances with Central Bank
|
15
|
16,409,342
|
|
9,848,954
|
|
Due From Banks
|
16
|
31,110,134
|
|
21,002,305
|
|
Treasury Bills and Other Governmental Notes
|
17
|
18,194,950
|
|
22,130,170
|
|
Trading Financial Assets
|
18
|
4,967,350
|
|
5,848,377
|
|
Loans and Advances to Banks, net
|
19
|
43,172
|
|
38,443
|
|
Loans and Advances to Customers, net
|
20
|
60,012,073
|
|
56,797,576
|
|
Non-current Assets Held for Sale
|
42
|
3,573,823
|
|
1,066,270
|
|
Derivative Financial Instruments
|
21
|
150,374
|
|
80,995
|
|
Financial Investments
|
|
|
|
|
|
- Available for Sale
|
22
|
42,474,133
|
|
46,289,075
|
|
- Held to Maturity
|
22
|
9,259,909
|
|
9,261,220
|
|
Investments in Associates
|
23
|
35,094
|
|
159,983
|
|
Other Assets
|
24
|
4,483,454
|
|
4,789,291
|
|
Goodwill
|
41
|
198,988
|
|
209,842
|
|
Intangible Assets
|
41
|
596,788
|
|
629,340
|
|
Deferred Tax Assets (Liabilities)
|
32
|
316,592
|
|
258,157
|
|
Property, Plant and Equipment
|
25
|
1,080,617
|
|
1,090,181
|
|
Total Assets
|
|
192,906,793
|
|
179,500,179
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Equity
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
Due to Banks
|
26
|
628,954
|
|
1,600,769
|
|
Due to Customers
|
27
|
169,352,150
|
|
155,234,416
|
|
Non-current Liabilities Held for Sale
|
42
|
2,325,907
|
|
371,622
|
|
Current Tax Liabilities
|
21
|
127,628
|
|
145,735
|
|
Other Liabilities
|
|
482,726
|
|
1,949,694
|
|
Long Term Loans
|
29
|
4,214,790
|
|
2,622,269
|
|
Other Provisions
|
28
|
124,234
|
|
131,328
|
|
Total Liabilities
|
30
|
914,715
|
|
861,761
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
Issued and Paid- in Capital
|
31
|
11,470,603
|
|
11,470,603
|
|
Reserves
|
34
|
1,464,757
|
|
151,993
|
|
Reserve for Employee Stock Ownership Plan (ESOP)
|
|
296,809
|
|
248,148
|
|
Retained Losses
|
|
32,277
|
|
(64,566)
|
|
Total Equity
|
|
13,264,446
|
|
11,806,178
|
|
Net Profit of the Year
|
|
1,291,554
|
|
4,728,976
|
|
Total Equity and Net Profit for the Year
|
|
14,556,000
|
|
16,535,154
|
|
Minority interest
|
|
179,689
|
|
47,431
|
|
Total Minority Interest, Equity and Net Profit for year
|
|
14,735,689
|
|
16,582,585
|
|
Total Liabilities, Equity, Minority Interest and Net Profit for year
|
|
192,906,793
|
|
179,500,179
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
|
|
INCOME STATEMENT
|
|
|
|
|
|
As of March 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
Note
|
Mar. 31, 2016
|
|
Mar. 31, 2015
|
|
|
|
EGP Thousands
|
|
EGP Thousands
|
|
Interest and Similar Income
|
|
4,178,859
|
|
3,377,796
|
|
Interest and Similar Expense
|
|
(1,910,574)
|
|
(1,508,295)
|
|
Net Interest Income
|
6
|
2,268,285
|
|
1,869,501
|
|
|
|
|
|
|
|
Fee and Commissions Income
|
|
463,058
|
|
455,338
|
|
Fee and Commissions Expense
|
|
(83,981)
|
|
(53,418)
|
|
Net fee and commission income
|
7
|
379,077
|
|
401,920
|
|
Dividend Income
|
8
|
492
|
|
-
|
|
Net Trading Income
|
9
|
107,642
|
|
63,528
|
|
Profit (Losses) on Financial Investments
|
22
|
33,820
|
|
163,823
|
|
Administrative Expenses
|
10
|
(601,548)
|
|
(488,665)
|
|
Other Operating (Expenses) Income
|
11
|
(161,400)
|
|
12,623
|
|
Goodwill Amortization
|
42
|
(10,854)
|
|
-
|
|
Intangible Assets Amortization
|
42
|
(32,552)
|
|
-
|
Impairment Charge for Credit Losses
|
12
|
(287,613)
|
|
(420,898)
|
Bank's Share in the Profits of Associates
|
|
(740)
|
|
15,442
|
Profit Before Income Tax
|
|
1,694,609
|
|
1,617,274
|
|
Income Tax Expense
|
13
|
(482,726)
|
|
(542,567)
|
|
Deferred Tax Assets (Liabilities)
|
32 & 13
|
58,435
|
|
20,050
|
|
Net Profit from Continued Operations
|
|
1,270,318
|
|
1,094,757
|
|
Discontinued Operations
|
|
|
|
|
|
Net profit from discontinued operations
|
42
|
25,961
|
|
13,642
|
|
Net profit for the year
|
|
1,296,279
|
|
1,108,399
|
|
|
|
|
|
|
Minority interest
|
|
4,725
|
|
233
|
Bank shareholders
|
|
1,291,554
|
|
1,108,166
|
|
Earnings per share
|
14
|
|
|
|
|
Basic
|
|
1.03
|
|
0.83
|
Diluted
|
|
1.01
|
|
0.82
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
|
|
CASH FLOW STATEMENT 1a
|
|
|
|
|
|
As of March 31, 2016
|
|
|
|
|
|
|
|
Mar. 31, 2016
|
|
Mar. 31, 2015
|
|
|
|
EGP Thousands
|
|
EGP Thousands
|
Cash Flow From Operating Activities
|
|
|
|
|
|
Profit before income tax from continued operations
|
|
1,694,609
|
|
1,617,274
|
|
Profit before income tax from Discontinued Operations
|
|
32,148
|
|
18,351
|
|
Adjustments To Reconcile Net Profit to Net Cash
Provided by Operating Activities
|
|
|
|
|
|
Fixed Assets Depreciation
|
|
64,951
|
|
54,692
|
|
Impairment Charges for credit losses
|
|
287,613
|
|
420,898
|
|
Other Provisions Charges
|
|
23,622
|
|
27,970
|
|
Trading Financial Investment Revaluation Differences
|
|
195,000
|
|
95,971
|
|
Available for sale and held to maturity investments exchange revaluation
differences
|
|
(263,567)
|
|
(69,351)
|
|
Goodwill Amortization
|
|
10,854
|
|
-
|
|
Intangible Assets Amortization
|
|
32,552
|
|
-
|
|
Financial Investments Impairment Charge
|
|
19,481
|
|
22,868
|
|
Utilization of Other Provisions
|
|
(470)
|
|
(155)
|
|
Other Provisions No Longer Used
|
|
(33,132)
|
|
-
|
|
Exchange Differences of Other Provisions
|
|
62,934
|
|
7,920
|
|
Profits From Selling Property, Plant and Equipment
|
|
(164)
|
|
(647)
|
|
Profits From Selling Financial Investments
|
|
(16,259)
|
|
(177,242)
|
|
Profits From Selling Associates
|
|
(84,934)
|
|
-
|
|
Share Based Payments
|
|
48,661
|
|
42,609
|
|
Investments in Associates Revaluation
|
740
|
|
(15,442)
|
|
|
|
-
|
|
(24,299)
|
|
Operating Profits Before Changes in Operating Assets and Liabilities
|
|
2,074,639
|
|
2,021,417
|
|
|
|
|
|
|
|
Net Decrease (Increase) in Assets and Liabilities
|
|
|
|
|
|
Due from banks
|
|
(13,650,312)
|
|
(1,637,664)
|
|
Treasury Bills & Other Governmental Notes
|
|
5,128,034
|
|
(3,500,850)
|
|
Trading Financial Assets
|
|
686,027
|
|
(1,997,694)
|
|
Derivative Financial Instruments
|
|
(87,486)
|
|
56,209
|
|
Loans and Advances to Banks and Customers
|
|
(3,506,839)
|
|
(4,715,627)
|
|
Other Assets
|
|
(2,079,531)
|
|
(112,901)
|
|
Due to Banks
|
|
(971,815)
|
|
(721,611)
|
|
Due to Customers
|
|
14,117,734
|
|
14,042,048
|
|
Income Tax Obligation Paid
|
|
(1,949,694)
|
|
(1,814,609)
|
|
Other Liabilities
|
|
3,682,924
|
|
1,024,770
|
|
Net Cash Provided from Operating Activities
|
|
3,443,681
|
|
2,643,488
|
|
|
|
|
|
|
|
|
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E
|
|
CASH FLOW STATEMENT 1b
|
|
|
|
|
|
As of March 31, 2016
|
|
Mar. 31, 2016
|
|
Mar. 31, 2015
|
|
Cash Flow From Investing Activities
|
|
|
|
|
|
Payment for purchase of subsidiary and associates
|
|
48,607
|
|
491
|
|
Proceeds from selling subsidiary and associates
|
|
159,989
|
|
-
|
|
Payment for purchases of property, plant, equipment and branches constructions
|
|
(174,558)
|
|
(116,559)
|
|
Proceeds from redemption of held to maturity financial investments
|
|
1,311
|
|
2,765,025
|
|
Payment for purchases of held to maturity financial investments
|
|
-
|
|
(3,813,120)
|
|
Payment for purchases of available for sale financial investments
|
|
(143,557)
|
|
(5,852,952)
|
|
Proceeds from selling available for sale financial investments
|
|
2,345,789
|
|
1,666,803
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
2,237,581
|
|
(5,350,312)
|
|
|
|
|
|
|
|
Cash Flow From Financing Activities
|
|
|
|
|
|
Increase (Decrease) in Long Term Loans
|
|
(7,094)
|
|
(28,216)
|
|
Dividend Paid
|
|
(1,463,450)
|
|
(473,838)
|
|
Net cash used in financing activities
|
|
(1,470,544)
|
|
(502,054)
|
|
|
|
|
|
|
|
Net Increase (Decrease) in Cash and Cash Equivalent during the year
|
|
4,210,718
|
|
(3,208,878)
|
|
Beginning Balance of Cash and Cash Equivalent
|
|
12,622,531
|
|
15,062,901
|
|
Cash and Cash Equivalent At the End of the Year
|
|
16,833,249
|
|
11,854,023
|
|
|
|
|
|
|
|
Cash and Cash Equivalent Comprise:
|
|
|
|
|
|
Cash and Balances with Central Bank
|
|
16,409,342
|
|
8,842,134
|
|
Due From Banks
|
|
31,110,134
|
|
9,979,956
|
|
Treasury Bills and Other Governmental Notes
|
|
18,194,950
|
|
30,680,693
|
|
Obligatory Reserve Balance With CBE
|
|
(13,893,058)
|
|
(6,820,947)
|
|
Due from Banks with Maturities More than Three Months
|
|
(23,503,792)
|
|
(5,216,773)
|
|
Treasury Bills with Maturity More than Three Months
|
|
(11,484,327)
|
|
(25,611,040)
|
|
Total Cash and Cash Equivalent
|
|
16,833,249
|
|
11,854,023
|