22nd Jul 2025 07:00
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Notes | Jun. 30, 2025 |
| Dec. 31, 2024 | |||||
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Assets |
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Cash and balances at the central bank | 9 | 100,535,373 |
| 136,165,920 | ||||
Due from banks | 10 | 231,774,988 |
| 270,089,441 | ||||
Loans and advances to banks, net | 12 | 28,273,497 |
| 9,555,410 | ||||
Loans and advances to customers, net | 13 | 419,494,572 |
| 340,955,698 | ||||
Derivative financial instruments | 1,165,796 |
| 819,711 | |||||
Financial investments |
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- Financial Assets at Fair Value through OCI | 14 | 262,186,573 |
| 233,029,903 | ||||
- Financial Assets at Amortized cost | 14 | 210,324,232 |
| 167,276,956 | ||||
Investments in subsidiaries and associates | 15 | 853,165 |
| 871,525 | ||||
Non-current assets held for sale | 29 | 159,828 |
| 159,828 | ||||
Other assets | 16 | 52,719,250 |
| 44,175,232 | ||||
Deferred tax assets | 2,558,253 |
| 2,337,304 | |||||
Property and equipment | 17 | 4,577,331 | 3,881,620 | |||||
Total assets |
| 1,314,622,858 |
| 1,209,318,548 | ||||
| Liabilities and equity |
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Liabilities |
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Due to banks | 18 | 2,975,504 |
| 2,317,715 | ||||
Due to customers | 19 | 1,040,233,344 |
| 967,895,387 | ||||
Derivative financial instruments | 510,278 |
| 100,571 | |||||
Current income tax liabilities | 11,373,107 |
| 18,327,968 | |||||
Other liabilities | 20 | 27,329,336 |
| 21,347,499 | ||||
Issued debt instruments | 21 | 4,948,964 |
| 5,067,781 | ||||
Other loans | 31,250,581 |
| 23,962,389 | |||||
Other provisions | 22 | 19,927,608 | 18,613,060 | |||||
Total liabilities |
| 1,138,548,722 | 1,057,632,370 | |||||
| Equity |
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Issued and paid capital | 30,708,510 |
| 30,431,580 | |||||
Reserves | 90,421,708 |
| 63,125,912 | |||||
Reserve for employee stock ownership plan (ESOP) | 1,734,177 |
| 1,868,235 | |||||
Retained earnings* |
| 53,209,741 | 56,260,451 | |||||
Total equity and net profit for the period / year |
| 176,074,136 | 151,686,178 | |||||
| Total liabilities and equity |
| 1,314,622,858 | 1,209,318,548 | ||||
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The accompanying notes are an integral part of these financial statements. |
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(Review report attached) |
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* | Including net profit for the period |
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Islam Zekry | Hisham Ezz Al-Arab | |||||||
| Group CFO & Executive Board Member | CEO & Executive Board Member |
Condensed Separate Interim Income Statement for the period ended June 30, 2025 |
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| Last 6 Months |
| Last 6 Months |
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| Notes |
| Jun. 30, 2025 |
| Jun. 30, 2024 |
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Interest and similar income |
| 104,727,073 |
| 81,420,481 |
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Interest and similar expense |
| (53,575,810) | (39,980,202) |
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Net interest income |
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| 51,151,263 | 41,440,279 |
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Fee and commission income |
| 7,416,971 |
| 5,905,503 |
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Fee and commission expense |
| (3,292,751) | (2,505,646) |
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Net fee and commission income |
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| 4,124,220 | 3,399,857 |
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Dividend income |
| 99,052 |
| 76,025 |
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Net trading income | 6 |
| 1,241,158 |
| 17,385,406 |
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Profits (Losses) on financial investments | 14.1 |
| 526,717 |
| 297,208 |
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Administrative expenses |
| (7,544,381) |
| (5,568,213) |
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Other operating income (expenses) | 7 |
| (3,546,143) |
| (16,410,949) |
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Impairment release (charges) for credit losses |
| 345,831 | (2,059,775) |
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Profit before income tax |
| 46,397,717 | 38,559,838 |
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Income tax expense | 26 |
| (13,477,682) |
| (11,255,055) |
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Deferred tax assets (Liabilities) | 26 |
| 489,475 | 378,395 |
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Net profit for the period |
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| 33,409,510 |
| 27,683,178 |
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Earnings per share | 8 |
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Basic | 9.69 |
| 8.11 |
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Diluted | 9.61 |
| 8.04 |
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0 |
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Islam Zekry | Hisham Ezz Al-Arab |
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Group CFO & Executive Board Member | CEO & Executive Board Member |
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Condensed Separate Interim Statement of Comprehensive Income for the period ended June 30, 2025 | |||||||||||||||||||||||||
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| Last 6 Months |
| Last 6 Months | |||||||||||||||||||||
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Net profit for the period |
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| 33,409,510 | 27,683,178 | |||||||||||||||||||||
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Transferred to RE from financial assets at fair value through OCI |
| 3,586 |
| - | |||||||||||||||||||||
Net change on financial assets at fair value through comprehensive income after tax |
| 4,622,564 |
| 4,073,707 | |||||||||||||||||||||
Effect of ECL on fair value of debt instruments measured at fair value through comprehensive income |
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| 140,134 | 751,734 | |||||||||||||||||||||
Total comprehensive income for the period |
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| 38,175,794 |
| 32,508,619 | ||||||||||||||||||||
Condensed Separate Interim Cash Flows for the period ended June 30, 2025 |
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Notes | Jun. 30, 2025 |
| Jun. 30, 2024 |
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Cash flow from operating activities |
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Profit before income tax |
| 46,397,717 |
| 38,559,838 |
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Adjustments to reconcile profits to net cash provided by operating activities |
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Fixed assets depreciation | 17 | 766,315 | 521,764 |
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Impairment release/charge for credit losses (Loans and advances to customers and banks) | (866,683) | 2,387,134 |
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Net charged/released for other provisions | 22 | 1,024,484 | 192,741 |
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Impairment release/charge for credit losses (due from banks) | 146,354 | (35) |
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Impairment release/charge for credit losses (financial investments) | 374,498 | (327,324) |
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Impairment release/charge for other assets | - | (7,173) |
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Exchange revaluation differences for financial assets at fair value through OCI and AC | 1,489,447 | (18,461,627) |
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Revaluation differences impairment charge for Financial Assets at Fair value through OCI | (95,111) | 1,182,360 |
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Revaluation differences impairment charge for Financial Assets at Amortized cost | 1,638 | 100,975 |
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Revaluation differences impairment charge for due from banks | (2,820) | 105 |
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Net utilized/recovered for other provisions | 22 | (1,053) | (8,970) |
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Exchange revaluation differences of other provisions | 22 | 291,117 | 3,707,089 |
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Profits/losses from selling property and equipment | (6,006) | (2,184) |
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Profits/losses from selling financial investments at fair value through OCI | 14.1 | (345,157) | (297,208) |
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Profits/losses from selling investments in associates | 14.1 | (181,560) | - |
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Share based payments |
| 653,254 |
| 533,219 |
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Operating profits before changes in operating assets and liabilities |
| 49,646,434 |
| 28,080,704 |
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Net decrease / increase in assets and liabilities |
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Due from banks | 75,949,504 | 36,256,280 |
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Financial assets at fair value through P&L | - | (172,728) |
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Derivative financial instruments | 24,358 | 164,384 |
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Loans and advances to banks and customers | (96,438,781) | (53,204,190) |
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Other assets | (5,527,589) | (18,799,962) |
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Due to banks | 18 | 657,789 | (8,429,958) |
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Due to customers | 19 | 72,337,957 | 182,431,141 |
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Current income tax obligations paid | (2,104,575) | (926,384) |
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Other liabilities |
| (12,900,414) | (5,875,532) |
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Net cash generated from (used in) operating activities |
| 81,644,683 |
| 159,523,755 |
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Cash flow from investing activities |
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Proceeds from sale of investments in associates | 339,920 | 7,173 |
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Payments for investment in subsidiaries | (140,000) | (200,000) |
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Payments for purchases of property, equipment and branches construction | (4,429,952) | (1,262,707) |
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Proceeds from selling property and equipment | 6,006 | 2,184 |
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Proceeds from redemption of financial assets at amortized cost | 4,876,544 | 1,240,196 |
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Payments for purchases of financial assets at amortized cost | (48,035,713) | (69,609,595) |
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Payments for purchases of financial assets at fair value through OCI | (91,524,026) | (58,448,832) |
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Proceeds from selling financial assets at fair value through OCI | 65,110,896 | 47,255,555 |
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Net cash generated from (used in) investing activities |
| (73,796,325) | (81,016,026) |
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Condensed Separate Interim Cash Flows for the period ended June 30, 2025 (Cont.) |
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Jun. 30, 2025 |
| Jun. 30, 2024 |
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Cash flow from financing activities |
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Other loans | 7,288,192 | 7,074,520 |
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Dividends | (14,160,151) | (5,078,792) |
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Issued debt instruments | (118,817) | 1,709,668 |
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Capital increase | 276,930 | 236,570 |
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Net cash generated from (used in) financing activities | (6,713,846) | 3,941,966 |
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Net (decrease) increase in cash and cash equivalent during the period | 1,134,512 | 82,449,695 |
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Beginning balance of cash and cash equivalent | 227,028,744 | 233,912,193 |
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Cash and cash equivalent at the end of the period |
| 228,163,256 |
| 316,361,888 |
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Cash and cash equivalent comprise: |
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Cash and balances at the central bank | 9 | 100,535,373 |
| 43,371,479 |
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Due from banks | 231,918,739 |
| 305,020,997 |
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Treasury bills and other governmental notes | 11 | 123,491,120 | 118,676,181 |
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Obligatory reserve balance with CBE | (76,281,994) |
| (25,285,404) |
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Due from banks with maturity more than three months | (28,050,433) | (7,684,847) |
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Treasury bills and other governmental notes with maturity more than three months |
| (123,449,549) | (117,736,518) |
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Total cash and cash equivalent |
| 228,163,256 |
| 316,361,888 |
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Condensed Separate Interim statement of changes in shareholders' equity |
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| Issued and paid capital | Legal reserve | General reserve | General risk reserve | Capital reserve | Reserve for financial assets at fair value through OCI | Banking risks reserve | Retained earnings | Reserve for employee stock ownership plan | Total |
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Jun. 30, 2024 |
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Beginning Balance at 1 January 2024 | 30,195,010 | 4,770,354 | 39,840,707 | 1,549,445 | 21,155 | (16,808,265) | 15,230 | 29,230,360 | 1,486,010 | 90,300,006 |
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Capital increase | 236,570 | - | - | - | - | - | - | - | - | 236,570 |
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Transferred to reserves | - | 1,438,320 | 22,582,085 | - | 1,663 | - | - | (23,398,943) | (623,125) | - |
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Dividend paid | - | - | - | - | - | - | - | (5,366,429) | - | (5,366,429) |
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Net profit for the period | - | - | - | - | - | - | - | 27,683,178 | - | 27,683,178 |
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Transferred to RE from financial assets at fair value through OCI | - | - | - | - | - | - | - | - | - | - |
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Net change on financial assets at fair value through OCI after tax | - | - | - | - | - | 4,073,707 | - | - | - | 4,073,707 |
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Transferred (from) to banking risk reserve | - | - | - | - | - | - | 2,694 | (2,694) | - | - |
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Effect of ECL in fair value of debt instruments measured at fair value through OCI | - | - | - | - | - | 751,734 | - | - | - | 751,734 |
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Cost of employees stock ownership plan (ESOP) | - | - | - | - | - | - | - | - | 533,219 | 533,219 |
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Balance at 30 June 2024 | 30,431,580 | 6,208,674 | 62,422,792 | 1,549,445 | 22,818 | (11,982,824) | 17,924 | 28,145,472 | 1,396,104 | 118,211,985 |
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| Issued and paid capital | Legal reserve | General reserve | General risk reserve | Capital reserve | Reserve for financial assets at fair value through OCI | Banking risks reserve | Retained earnings | Reserve for employee stock ownership plan | Total |
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Jun. 30, 2025 |
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Beginning Balance at 1 January 2025 | 30,431,580 | 6,208,674 | 62,422,792 | 1,549,445 | 22,818 | (7,095,741) | 17,924 | 56,260,451 | 1,868,235 | 151,686,178 |
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Capital increase | 276,930 | - | - | - | - | - | - | - | - | 276,930 |
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Transferred to reserves | - | 2,771,284 | 19,758,610 | - | 2,246 | - | - | (21,744,828) | (787,312) | - |
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Dividends paid | - | - | - | - | - | - | - | (14,714,434) | - | (14,714,434) |
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Net profit for the period | - | - | - | - | - | - | - | 33,409,510 | - | 33,409,510 |
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Transferred to RE from financial assets at fair value through OCI | - | - | - | - | - | 3,586 | - | (3,586) | - | - |
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Net change on financial assets at fair value through OCI after tax | - | - | - | - | - | 4,622,564 | - | - | - | 4,622,564 |
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Transferred (from) to banking risk reserve | - | - | - | - | - | - | (2,628) | 2,628 | - | - |
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Effect of ECL in fair value of debt instruments measured at fair value through OCI | - | - | - | - | - | 140,134 | - | - | - | 140,134 |
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Cost of employees stock ownership plan (ESOP) | - | - | - | - | - | - | - | - | 653,254 | 653,254 |
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Balance at 30 June 2025 | 30,708,510 | 8,979,958 | 82,181,402 | 1,549,445 | 25,064 | (2,329,457) | 15,296 | 53,209,741 | 1,734,177 | 176,074,136 |
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Related Shares:
Com.int.bk.regs