12th May 2008 15:48
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Commercial International Bank (Egypt) S.A.E. |
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Financial Statements |
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March 31, 2008 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
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FINANCIAL POSITION |
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As of Mar. 31, 2008 |
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Amounts in L.E. |
Note |
31-Mar-2008 |
31-Dec-2007 |
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Assets |
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Cash & Due From Central Bank |
4 |
6,434,125,884 |
4,953,205,430 |
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Due From Banks |
5 |
19,893,355,779 |
13,782,062,043 |
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Treasury Bills & Other Notes Discountable at CBE |
6 |
2,979,216,629 |
2,948,674,319 |
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Trading Financial Investments |
7 |
561,440,978 |
588,473,270 |
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Available for Sale Financial Investments |
8 |
2,279,762,437 |
2,382,992,007 |
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Loans & Overdrafts (Net of Provision for Doubtful Debts) |
9&10 |
23,377,274,868 |
20,375,525,133 |
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Held to Maturity Financial Investments |
11 |
298,645,419 |
443,894,166 |
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Financial Investments in Subsidiary and associated companies |
12 |
334,681,007 |
365,723,936 |
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Debit Balances and Other Assets |
14 |
1,166,729,633 |
1,020,565,573 |
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Deferred Tax |
27 |
17,999,937 |
52,819,475 |
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Fixed Assets (Net) |
15 |
599,260,017 |
607,104,820 |
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Total Assets |
57,942,492,588 |
47,521,040,172 |
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Liabilities & Shareholders' Equity |
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Liabilities |
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Due to Banks |
16 |
3,948,600,927 |
2,377,082,435 |
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Customer Deposits |
17 |
48,006,846,116 |
39,514,539,992 |
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Dividends & Profit Sharing |
0 |
336,727,470 |
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Credit Balances & Other Liabilities |
18 |
999,223,738 |
773,862,137 |
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Long Term Loans |
19 |
169,099,542 |
161,356,219 |
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Other Provisions |
20 |
420,995,274 |
395,332,813 |
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Total Liabilities |
53,544,765,597 |
43,558,901,066 |
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Shareholders' Equity |
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Issued & Paid- in Capital |
1,950,000,000 |
1,950,000,000 |
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Reserves |
1,981,848,733 |
1,982,979,522 |
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Reserve for employee stock ownership plan (ESOP) |
30 |
42,952,065 |
29,159,584 |
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Total Shareholders' Equity |
21 |
3,974,800,798 |
3,962,139,106 |
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Net Profit of the Period |
422,926,193 |
- |
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Total Shareholders' Equity & Net Profit |
4,397,726,991 |
3,962,139,106 |
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Total Liabilities & Shareholders' Equity |
57,942,492,588 |
47,521,040,172 |
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Contingent & commitments Liabilities |
22 |
13,515,386,479 |
11,529,010,709 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
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INCOME STATEMENT |
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As of Mar. 31 2008 |
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Amounts in LE. |
Note |
Mar. 31, 2008 |
Mar. 31, 2007 |
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Interest Received from clients & Banks |
782,451,928 |
544,401,368 |
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Interest Received from Treasury Bills & Bonds |
83,566,270 |
144,035,811 |
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Interest Paid to Clients & Banks |
(450,229,478) |
(433,369,129) |
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Net Interest Income |
415,788,720 |
255,068,050 |
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Banking Fees & Commissions |
192,857,683 |
138,369,473 |
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Share Dividends |
57,035,788 |
19,643,970 |
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Foreign Exchange Profit |
23 |
69,889,396 |
21,424,699 |
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Profit from Selling Financial Investment |
7,926,142 |
28,856,813 |
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Profit from dispose part of subsidiaries |
24 |
50,258,991 |
- |
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Trading financial Investment Revaluation Differences |
6,314,685 |
(1,855,885) |
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Provisions no longer used |
25 |
94,395,171 |
- |
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Other Income |
6,736,898 |
7,182,906 |
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Total Fee Income |
485,414,754 |
213,621,976 |
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Net Operating Income |
901,203,474 |
468,690,026 |
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Provisions |
(163,354,750) |
(81,750,000) |
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Other financial Investment Revaluation Differences |
26 |
(39,596,737) |
31,939,236 |
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General & Administrative Expenses & Depreciation |
(187,424,811) |
(124,710,399) |
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Other Expenses |
(27,734,229) |
(18,295,197) |
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(418,110,527) |
(192,816,360) |
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Net Operating Profits |
483,092,947 |
275,873,666 |
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Non-Operating income |
29,523 |
- |
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Net Profit before Tax |
483,122,470 |
275,873,666 |
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Income Tax |
28 |
(25,376,739) |
(23,184,893) |
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Deferred Tax |
28&27 |
(34,819,538) |
817,667 |
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Net Profit After Tax |
422,926,193 |
253,506,440 |
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Earnings per share |
29 |
1.92 |
1.15 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
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CASH FLOW STATEMENT 1a |
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As of Mar. 31 2008 |
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Amounts in LE. |
Mar. 31, 2008 |
Mar. 31, 2007 |
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Cash Flow From Operating Activities |
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Net Income Before Tax |
483,122,470 |
275,873,666 |
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Adjustments To Reconcile Net Income |
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Total Net Cash Provided by operating |
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Depreciation |
32,180,440 |
28,136,532 |
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Provisions (Additions during the period) |
163,354,750 |
81,750,000 |
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Trading Financial Investment Evaluation |
(6,314,685) |
1,855,885 |
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Other Financial Investment Evaluation |
39,596,737 |
(31,939,236) |
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Utilization of Provision (Other than Provision for Doubtful Debts) |
(12,298) |
- |
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Provisions no longer used |
(94,395,171) |
- |
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FCY Revaluation Differences of Provision Balances except Doubtful Debt |
(619,241) |
(112,232) |
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Gains From Selling of Fixed Assets |
(29,523) |
- |
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Profit From Selling of financial Investments |
(7,926,142) |
(28,856,813) |
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Profits from dispose part of a subsidiary |
(50,258,991) |
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FCY Revaluation Difference of Long Term Loans |
1,320,333 |
199,581 |
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Reserve for employee stock ownership plan (ESOP) |
13,792,481 |
- |
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Operating Profit Before Changes in Operating Assets and Liabilities |
573,811,160 |
326,907,383 |
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Net Decrease (Increase) in Assets |
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Due from banks |
(6,430,858,152) |
(613,996,981) |
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Treasury Bills & Other Notes Discountable at CBE |
(185,393,667) |
1,671,725,483 |
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Trading Financial Investments |
33,346,977 |
39,899,091 |
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Available for Sale Financial Investments |
121,817,966 |
914,817,980 |
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Loans & Overdrafts |
(3,193,523,897) |
(1,382,120,527) |
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Debit Balances & Other Assets |
(63,563,260) |
(159,930,563) |
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Net Increase (Decrease) In Liabilities |
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Due to Banks |
1,571,518,492 |
(855,456,302) |
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Customer Deposits |
8,492,306,124 |
482,241,349 |
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Credit Balances & Other Liabilities |
294,380,033 |
121,622,720 |
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Net Cash Provided from Operating Activities |
1,213,841,776 |
545,709,633 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
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CASH FLOW STATEMENT 1b |
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As of Mar. 31 2008 |
Mar. 31, 2008 |
Mar. 31, 2007 |
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Cash Flow From Investment Activities |
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Sales (Purchases) of subsidiaries & associated companies |
29,912,140 |
(137,844) |
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Prepaid for Fixed Assets, premises and Fitting-out of Branches |
(52,193,502) |
(94,812,917) |
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Redemption of Held-to-Maturity Financial Investments |
145,248,747 |
267,114,852 |
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Net Cash (Used in) Investment Activities |
122,967,385 |
172,164,091 |
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Cash Flow From Financing Activities |
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Increase in Long Term Loans |
6,422,990 |
(2,729,747) |
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Dividends Paid |
(336,727,470) |
(287,235,147) |
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Net Cash (Used in) provided from Financing Activities |
(330,304,480) |
(289,964,894) |
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Net cash & cash equivalent changes |
1,006,504,681 |
427,908,830 |
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Beginning Balance of cash and cash equivalent |
6,779,152,548 |
4,023,396,001 |
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Cash & Cash equivalent Balance At the End of the period |
7,785,657,229 |
4,451,304,831 |
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Cash & Cash Equivalent are Represented as Follows |
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Cash and Due from Central Bank |
6,434,125,884 |
4,168,574,347 |
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Due From Banks |
19,893,355,779 |
6,050,326,978 |
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Treasury Bills & other notes discountable at the CBE |
2,979,216,629 |
2,385,578,737 |
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Due from Banks (time deposits) |
(19,695,076,686) |
(5,917,511,814) |
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Treasury Bills with Maturity More than Three Months |
(1,825,964,377) |
(2,235,663,417) |
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Total Cash & Cash Equivalent |
7,785,657,229 |
4,451,304,831 |
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COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
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STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY |
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As of Mar. 31 2008 |
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2007 |
Capital |
Legal Reserves |
General Reserves |
Special Reserves |
Reserves for Inv. Revaluation Diff. |
Profits for the period |
Reserve for Employee Stock ownership plan ESOP |
Total |
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Beginning Balance |
1,950,000,000 |
371,230,872 |
548,482,934 |
162,709,903 |
7,458,634 |
0 |
3,039,882,343 |
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Transfer to reserves |
0 |
61,620,639 |
834,064,668 |
0 |
0 |
(895,685,307) |
0 |
0 |
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Distributed profits |
0 |
0 |
0 |
0 |
0 |
(336,727,470) |
0 |
(336,727,470) |
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Net Profit for period |
0 |
0 |
0 |
0 |
0 |
1,232,412,777 |
0 |
1,232,412,777 |
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Usage part of reserve |
0 |
0 |
0 |
0 |
(2,588,128) |
0 |
0 |
(2,588,128) |
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Reserve for employee stock ownership plan ESOP |
0 |
0 |
0 |
0 |
0 |
0 |
29,159,584 |
29,159,584 |
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Ending Balance |
1,950,000,000 |
432,851,511 |
1,382,547,602 |
162,709,903 |
4,870,506 |
0 |
29,159,584 |
3,962,139,106 |
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2008 |
Capital |
Legal Reserves |
General Reserves |
Special Reserves |
Reserves for Inv. Revaluation Diff. |
Profits for the period |
Reserve for Employee Stock ownership plan ESOP |
Total |
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Beginning Balance |
1,950,000,000 |
432,851,511 |
1,382,547,602 |
162,709,903 |
4,870,506 |
0 |
29,159,584 |
3,962,139,106 |
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Net Profit for period |
0 |
0 |
0 |
0 |
0 |
422,926,193 |
0 |
422,926,193 |
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Usage part of reserve |
0 |
0 |
0 |
0 |
(1,130,789) |
0 |
0 |
(1,130,789) |
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Reserve for employee stock ownership plan ESOP |
0 |
0 |
0 |
0 |
0 |
0 |
13,792,481 |
13,792,481 |
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Ending Balance |
1,950,000,000 |
432,851,511 |
1,382,547,602 |
162,709,903 |
3,739,717 |
422,926,193 |
42,952,065 |
4,397,726,991 |
Related Shares:
Com.int.bk.regs