CIB 1st half Unconsolidated results

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

Unconsolidated Financial Statements

June 30, 2013

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of June 30, 2013

Amounts in EGP.

Note

June 30, 2013

Dec. 31 ,2012

Assets

Cash and Due with Central Bank

15

6,417,883,889

5,393,974,124

Due From Banks

16

9,808,438,509

7,957,710,034

Treasury Bills and Other Governmental Notes

17

17,772,315,963

7,978,030,413

Trading Financial Assets

18

1,767,030,846

1,472,281,763

Loans and Advances to Banks

19

118,736,640

1,178,867,739

Loans and Advances to Customers

20

42,445,725,873

40,698,313,773

Derivative Financial Investments

21

80,138,385

137,459,761

Financial Investments

Available for Sale

22

19,003,918,550

21,161,884,032

Held to Maturity

22

4,193,893,702

4,205,753,328

Investments in Subsidiary and Associates

23

949,599,840

938,033,700

Investment Property

24

9,695,686

10,395,686

Other Assets

25

2,600,949,490

2,459,025,844

Deferred Tax

33

133,524,069

129,133,209

Property, Plant and Equipment

26

837,368,544

684,527,896

Total Assets

106,139,219,986

94,405,391,302

Liabilities and Equity

Liabilities

Due to Banks

27

953,508,142

1,714,862,716

Due to Customers

28

91,288,133,619

78,834,726,890

Derivative Financial Instruments

21

86,538,114

119,099,260

Other Liabilities

30

2,068,011,420

2,034,351,571

Long Term Loans

29

117,795,397

80,495,238

Other Provisions

31

394,126,748

310,648,113

Total Liabilities

94,908,113,440

83,094,183,788

Equity

Issued & Paid- in Capital

32

6,001,623,790

5,972,275,410

Reserves

32

3,756,529,602

2,970,458,093

Reserve for Employee Stock Ownership Plan (ESOP)

149,002,252

164,761,121

Retained Earnings

-

1,001,979

Total Equity

9,907,155,644

9,108,496,603

Net Profit of the Period/Year After Tax

1,323,950,902

2,202,710,911

Total Equity and Net Profit for the Period/Year

11,231,106,546

11,311,207,514

Total Liabilities and Equity

106,139,219,986

94,405,391,302

Contingent Liabilities and Commitments

Letters of Credit, Guarantees and other commitments

37

15,834,465,580

14,897,789,005

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of June 30, 2013

Amounts in EGP.

Note

June 30, 2013

June 30, 2012

Interest and Similar Income

4,503,577,501

3,595,247,156

Interest and Similar Expense

(2,097,760,076)

(1,801,001,713)

Net Interest Income

6

2,405,817,425

1,794,245,443

Fee and Commissions Income

668,595,343

435,644,889

Fee and Commissions Expense

(63,131,885)

(47,766,855)

Net Income from Fees and Commissions

7

605,463,458

387,878,034

Dividend Income

8

12,274,522

21,744,400

Net Trading Income

9

375,678,042

201,385,483

Profit from Financial Investments

22

2,214,021

(23,195,737)

Administrative Expenses

10

(878,233,268)

(701,569,640)

Other Operating (Expenses) Income

11

(41,714,369)

(57,626,545)

Impairment Charge for Credit Losses

12

(490,785,133)

(159,244,620)

Net Profit before Tax

1,990,714,698

1,463,616,818

Income Tax Expense

13

(671,154,656)

(427,623,435)

Deferred Tax

33 & 13

4,390,860

11,652,967

Net Profit of the Period

1,323,950,902

1,047,646,350

Earning per share

14

Basic

1.97

1.77

Diluted

1.94

1.74

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of June 30, 2013

Amounts in EGP.

June 30, 2013

June 30, 2012

Cash Flow From Operating Activities

Net Profit Before Tax

1,990,714,698

1,463,616,818

Adjustments To Reconcile Net Profit to Net Cash

Provided by Operating Activities

Depreciation

90,273,799

83,198,082

Assets Impairment Charges

490,785,133

159,244,620

Other Provisions Charges

69,071,603

86,724,165

Trading Financial Investment Revaluation Differences

(1,316,714)

(24,186,619)

Available for sale and held to maturity investments exchange revaluation differences

(136,563,408)

(6,075,233)

Financial Investments Impairment Charge (Release)

(31,266,724)

16,662,686

Utilization of Other Provisions

(978,083)

(71,749,072)

Other Provisions No Longer Used

(141,520)

(531,054)

Exchange Differences of Other Provisions

15,526,634

(711,571)

Profits From Selling Property, Plant and Equipment

(495,294)

(1,633,796)

Profits From Selling Financial Investments

(2,228,843)

(8,421,272)

Exchange Difference of Long Term Loans

-

(20,812)

Share Based Payments

47,923,358

44,135,782

Investments in Subsidiary and Associates Revaluation

(4,038,840)

-

Operating Profits Before Changes in Operating Assets and Liabilities

2,527,265,799

1,740,252,724

Net Decrease (Increase) in Assets and Liabilities

Due from banks

(1,826,250,534)

(962,139,101)

Treasury Bills & Other Governmental Notes

(6,760,815,159)

(1,601,411,260)

Trading Financial Assets

(293,432,368)

(704,495,221)

Derivative Financial Instruments

24,760,230

28,057,118

Loans and Advances to Banks and Customers

(1,178,066,134)

135,430,874

Other Assets

(17,542,388)

(708,987,508)

Due to Banks

(761,354,574)

(1,555,779,809)

Due to Customers

12,453,406,729

5,227,605,274

Other Liabilities

(637,494,806)

(312,906,688)

Net Cash Provided from Operating Activities

3,530,476,795

1,285,626,403

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of June 30, 2013

June 30, 2013

June 30, 2012

Cash Flow From Investing Activities

Purchase of Subsidiary and Associates

(7,527,300)

(16,625,622)

Purchases of Property, Plant and Equipment

(367,000,411)

(106,448,191)

Redemption of Held-to-Maturity Financial Investments

11,859,626

-

Purchases of Held to Maturity Financial Investments

-

(3,634,146,232)

Purchases of Available for Sale Financial Investments

(778,731,294)

(4,841,916,012)

Proceeds from Selling Available for Sale Financial Investments

2,681,275,310

4,989,109,038

Proceeds from Selling Real Estate Investments

700,000

2,750,000

Net Cash Generated from (Used in) Investing Activities

1,540,575,931

(3,607,277,019)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

37,300,159

(8,237,604)

Dividend Paid

(1,055,843,165)

(806,206,521)

Capital Increase

29,348,380

37,712,420

Net Cash Generated from (Used in) Financing Activities

(989,194,626)

(776,731,705)

Net Increase (Decrease) in Cash and Cash Equivalent

4,081,858,100

(3,098,382,322)

Beginning Balance of Cash and Cash Equivalent

5,536,080,094

8,081,134,203

Cash and Cash Equivalent Balance At the End of the Period

9,617,938,194

4,982,751,881

Cash & Cash Equivalent Comprise

Cash and Balances with Central Bank

6,417,883,889

5,542,320,904

Due From Banks

9,808,438,509

9,711,796,359

Treasury Bills and Other Governmental Notes

17,772,315,963

9,365,804,058

Obligatory Reserve Balance With CBE

(3,284,941,291)

(3,028,051,899)

Due from Banks (Time Deposits) More than Three Months

(6,271,865,456)

(6,186,338,796)

Treasury Bills with Maturity More than Three Months

(14,823,893,420)

(10,422,778,745)

Total Cash & Cash Equivalent

9,617,938,194

4,982,751,881

June 30,

2012

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings

(EGP)

Special Reserves

(EGP)

Reserve for A.F.S

Revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Net Profit of the Period

(EGP)

Reserve for Employee Stock Ownership Plan (ESOP)

Total

(EGP)

Beginning Balance

5,934,562,990

231,344,896

1,234,274,960

15,105,920

185,931,315

(723,070,818)

281,689,619

1,624,150,975

137,354,419

8,921,344,275

Capital Increase

37,712,420

-

-

-

-

-

-

-

-

37,712,420

Transferred to Reserves

-

87,306,567

794,689,187

-

2,716,747

-

-

(833,050,374)

(51,662,127)

-

Dividend Paid

-

-

-

(15,105,920)

-

-

-

(791,100,601)

-

(806,206,521)

Net Profit of the Period

-

-

-

-

-

-

-

1,047,646,350

-

1,047,646,350

Transfer from Special Reserve

-

61,697,292

8,143,225

1,001,979

(70,842,496)

-

-

-

-

-

Addition from Financial Investment Revaluation

-

-

-

-

-

129,911,949

-

-

-

129,911,949

Transferred to Bank Risk Reserve

-

-

-

-

-

-

(153,575,808)

153,575,808

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

44,135,782

44,135,782

Balance at the End of Period

5,972,275,410

380,348,755

2,037,107,372

1,001,979

117,805,566

(593,158,869)

128,113,811

1,201,222,158

129,828,074

9,374,544,256

June 30,

2013

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings

(EGP)

Special Reserves

(EGP)

Reserve for A.F.S Investments Revaluation Difference

(EGP)

Banking

Risks Reserve

(EGP)

Net Profits of the Period

(EGP)

Reserve for Employee Stock Ownership Plan (ESOP)

Total

(EGP)

Beginning Balance

5,72,275,410

380,348,755

2,037,107,372

1,001,979

117,805,566

153,506,781

103,716,932

2,380,683,598

164,761,121

11,311,207,514

Capital Increase

29,348,380

-

-

-

-

-

-

-

-

29,348,380

Transferred to Reserves

-

110,016,166

1,277,120,890

-

2,387,583

-

-

(1,325,842,412)

(63,682,227)

-

Dividend Paid

-

-

-

(1,001,979)

-

-

-

(1,054,841,186)

-

(1,055,843,165)

Net Profit of the Period

-

-

-

-

-

-

-

1,323,950,902

-

1,323,950,902

Addition from Financial Investment Revaluation

-

-

-

-

-

(425,480,442)

-

-

-

(425,480,442)

Transferred to Bank Risk Reserve

-

-

-

-

-

-

(15,016,039)

15,016,039

-

-

Reserve for Employee Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

47,923,358

47,923,358

Balance at the end of the Period

6,001,623,790

490,364,921

3,314,228,261

-

120,193,149

(271,973,661)

88,700,893

1,338,966,941

149,002,252

11,231,106,546