Consolidated Financial Position at March 31.2025

Notes

Mar. 31, 2025

Dec. 31, 2024

Assets

Cash and balances at the central bank

9

68,810,514

136,531,020

Due from banks

10

314,305,928

270,829,834

Loans and advances to banks, net

12

16,109,873

9,555,410

Loans and advances to customers, net

13

364,274,475

343,542,674

Derivative financial instruments

930,893

819,711

Financial investments

- Financial Assets at Fair Value through OCI

14

261,161,290

234,512,167

- Financial Assets at Amortized cost

14

189,243,425

168,118,219

Investments in associates

15

35,384

98,193

Other assets

16

40,510,451

44,282,773

Deferred tax assets

2,804,720

2,685,331

Property and equipment

17

4,698,499

3,997,929

Total assets

1,262,885,452

1,214,973,261

Liabilities and equity

Liabilities

Due to banks

18

4,321,002

2,034,885

Due to customers

19

1,000,617,577

972,595,958

Non-current liabilities held for sale

30.2

1,397

1,397

Derivative financial instruments

78,314

100,571

Current income tax liabilities

5,565,862

18,327,968

Other liabilities

20

46,045,132

21,441,169

Issued debt instruments

21

5,044,951

5,067,781

Other loans

23,948,624

23,962,389

Other provisions

22

19,045,051

18,621,822

Total liabilities

1,104,667,910

1,062,153,940

Equity

Issued and paid capital

30,431,580

30,431,580

Reserves

88,394,260

63,544,579

Reserve for employee stock ownership plan (ESOP)

2,184,420

1,868,235

Retained earnings*

36,940,838

56,791,883

Total equity and net profit for the period / year

157,951,098

152,636,277

Non-Controlling Interest

266,444

183,044

Total NCI, equity and net profit for the period / year

158,217,542

152,819,321

Total liabilities and equity

1,262,885,452

1,214,973,261

The accompanying notes are an integral part of these financial statements.

(Review report attached)

*Including net profit for the period

Islam Zekry

Hisham Ezz Al-Arab

Group CFO & Executive Board Member

CEO & Executive Board Member

Notes

Mar. 31, 2025

Mar. 31, 2024

Interest and similar income

52,535,156

36,652,802

Interest and similar expense

(27,139,272)

(17,852,691)

Net interest income

25,395,884

18,800,111

Fee and commission income

3,522,513

2,685,963

Fee and commission expense

(1,587,691)

(1,118,912)

Net fee and commission income

1,934,822

1,567,051

Dividend income

12,751

610

Net trading income

6

644,549

16,202,148

Profits (Losses) on financial investments 

14.1

472,532

224,271

Administrative expenses

(3,932,425)

(2,928,640)

Other operating income (expenses)

7

(1,742,230)

(14,975,056)

Impairment release (charges) for credit losses

(84,032)

(1,421,114)

Bank's share in the profits / losses of associates

(297)

4,931

Profit before income tax

22,701,554

17,474,312

Income tax expense

27

(6,479,828)

(5,926,187)

Deferred tax assets (Liabilities)

27

411,443

376,765

Net profit for the period

16,633,169

11,924,890

Non-Controlling Interest

1,394

456

Bank's shareholders

16,631,775

11,924,434

Earnings per share

8

Basic

4.83

3.47

Diluted

4.79

3.45

Islam Zekry

Hisham Ezz Al-Arab

Group CFO & Executive Board Member

CEO & Executive Board Member

Condensed Consolidated Interim statement of Comprehensive Income for the period ended March 31, 2025

Last 9 Months

Last 9 Months

Mar. 31, 2025

Mar. 31, 2024

Net profit for the period

16,633,169

11,924,890

Net change on financial assets at fair value through comprehensive income after tax

2,491,322

1,915,786

Cumulative foreign currencies translation differences

(169,708)

831,452

Effect of ECL on fair value of debt instruments measured at fair value through comprehensive income

841,687

744,813

Total comprehensive income for the period

19,796,470

15,416,941

As follows:

Bank's shareholders

19,713,070

15,416,485

Non-Controlling Interest

83,400

456

Total comprehensive income for the period

19,796,470

15,416,941

Condensed Consolidated Interim Cash flows for the period ended March 31, 2025

Notes

Mar. 31, 2025

Mar. 31, 2024

Cash flow from operating activities

Profit before income tax

22,701,554

17,474,312

Adjustments to reconcile profits to net cash provided by operating activities

Fixed assets depreciation

17

773,002

261,427

Impairment release/charge for credit losses (Loans and advances to customers and banks)

(1,080,606)

1,712,500

Other provisions release/charge

22

320,589

41,587

Impairment release/charge for credit losses (due from banks)

141,071

(646)

Impairment release/charge for credit losses (financial investments)

1,023,567

(290,740)

Impairment release/charge for other assets

-

(4,782)

Exchange revaluation differences for financial assets at fair value through OCI and AC

212,785

(17,328,576)

Revaluation differences impairment charge for Financial Assets at Fair value through OCI

(13,267)

1,130,412

Revaluation differences impairment charge for Financial Assets at Amortized cost

1,240

95,225

Revaluation differences impairment charge for due from banks

(18)

1,393

Net utilized / recovered of other provisions

22

(520)

(4,517)

Exchange revaluation differences of other provisions

22

103,160

3,574,589

Profits/losses from selling property and equipment

7

(6,006)

-

Profits/losses from selling financial investments at fair value through OCI

14.1

(195,124)

(224,271)

Profits/losses from selling investments in associates

(277,408)

-

Share based payments

316,185

300,000

Bank's share in the profits / losses of associates

297

(4,931)

Operating profits before changes in operating assets and liabilities

24,020,501

6,732,982

Net decrease / increase in assets and liabilities

Due from banks

123,055,498

41,887,372

Financial assets at fair value through P&L

-

(974,297)

Derivative financial instruments

(142,036)

157,890

Loans and advances to banks and customers

(26,205,658)

(37,541,091)

Other assets

6,009,359

(5,893,831)

Non-current assets held for sale

-

(244)

Due to banks

18

2,286,117

(6,928,939)

Due to customers

19

28,021,619

118,843,058

Current income tax obligations paid

(913,966)

(480,418)

Non-current liabilities held for sale

-

1,297

Other liabilities

5,721,712

1,820,664

Net cash generated from (used in) operating activities

161,853,146

117,624,443

Cash flow from investing activities

Proceeds from sale of investments in associates

226,698

4,782

Payments for purchases of property, equipment and branches construction

(3,597,387)

(437,370)

Proceeds from selling property and equipment

6,006

-

Proceeds from redemption of financial assets at amortized cost

2,579,713

285,507

Payments for purchases of financial assets at amortized cost

(23,883,457)

(53,615,996)

Payments for purchases of financial assets at fair value through OCI

(29,279,247)

(26,592,698)

Proceeds from selling financial assets at fair value through OCI

6,310,466

26,222,450

Net cash generated from (used in) investing activities

(47,637,208)

(54,133,325)

Condensed Consolidated Interim Cash flows for the period ended March 31, 2025 (Cont.)

Mar. 31, 2025

Mar. 31, 2024

Cash flow from financing activities

Other loans

(13,765)

6,700,881

Dividends paid

(14,160,152)

(5,078,792)

Issued debt instruments

(22,830)

1,626,167

Net cash generated from (used in) financing activities

(14,196,747)

3,248,256

Net (decrease) increase in cash and cash equivalent during the period

100,019,191

66,739,374

Beginning balance of cash and cash equivalent

226,610,721

234,317,913

Cash and cash equivalent at the end of the period

326,629,912

301,057,287

Cash and cash equivalent comprise:

Cash and balances at the central bank

9

68,810,514

36,731,091

Due from banks

314,450,806

292,723,938

Treasury bills and other governmental notes

11

116,419,815

119,754,167

Obligatory reserve balance with central bank

(43,885,546)

(19,531,282)

Due from banks with maturity more than three months

(14,867,792)

(8,740,302)

Treasury bills and other governmental notes with maturity more than three months

(114,297,885)

(119,880,325)

Total cash and cash equivalent

326,629,912

301,057,287

Condensed Consolidated Interim statement of changes in shareholders' equity

Mar. 31, 2024

Issued and paid capital

Legal reserve

General reserve

General risk reserve

Reserve for transactions under common control

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Cumulative foreign currencies translation differences

Total Shareholders' Equity

Non-Controlling Interest

Total

Beginning balance

30,195,010

4,770,354

39,840,707

1,550,906

(670,972)

21,155

(16,868,691)

15,230

29,993,331

1,486,010

148,353

90,481,393

160,073

90,641,466

Transferred to reserves

-

1,438,320

21,958,960

-

-

1,663

-

-

(23,398,943)

-

-

-

-

-

Net profit for the period

-

-

-

-

-

-

-

-

11,924,434

-

-

11,924,434

456

11,924,890

Dividends paid

-

-

-

-

-

-

-

-

(5,366,429)

-

-

(5,366,429)

-

(5,366,429)

Net change on financial assets at fair value through OCI after tax

-

-

-

-

-

-

1,915,786

-

-

-

-

1,915,786

-

1,915,786

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

21,718

(21,718)

-

-

-

-

-

Effect of ECL in fair value of debt instruments measured at fair value through OCI

-

-

-

-

-

-

744,813

-

-

-

-

744,813

-

744,813

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

300,000

-

300,000

-

300,000

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

831,452

831,452

(321)

831,131

Ending balance

30,195,010

6,208,674

61,799,667

1,550,906

(670,972)

22,818

(14,208,092)

36,948

13,130,675

1,786,010

979,805

100,831,449

160,208

100,991,657

Mar. 31, 2025

Issued and paid capital

Legal reserve

General reserve

General risk reserve

Reserve for transactions under common control

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Cumulative foreign currencies translation differences

Total Shareholders' Equity

Non-Controlling Interest

Total

Beginning balance

30,431,580

6,208,674

62,422,792

1,550,906

(670,972)

22,818

(7,145,283)

17,924

56,791,883

1,868,235

1,137,720

152,636,277

183,044

152,819,321

Transferred to reserves

-

2,771,284

18,971,298

-

-

2,246

-

-

(21,744,828)

-

-

-

-

-

Dividends paid

-

-

-

-

-

-

-

-

(14,714,434)

-

-

(14,714,434)

-

(14,714,434)

Net profit for the period

-

-

-

-

-

-

-

-

16,631,775

-

-

16,631,775

1,394

16,633,169

Transferred to general risk reserve

-

-

-

26,186

-

-

-

-

(26,186)

-

-

-

-

-

Net change on financial assets at fair value through OCI after tax

-

-

-

-

-

-

2,409,316

-

-

-

-

2,409,316

82,006

2,491,322

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

(2,628)

2,628

-

-

-

-

-

Effect of ECL in fair value of debt instruments measured at fair value through OCI

-

-

-

-

-

-

841,687

-

-

-

-

841,687

-

841,687

Cost of employees stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

316,185

-

316,185

-

316,185

Cumulative foreign currencies translation differences

-

-

-

-

-

-

-

-

-

-

(169,708)

(169,708)

-

(169,708)

Ending balance

30,431,580

8,979,958

81,394,090

1,577,092

(670,972)

25,064

(3,894,280)

15,296

36,940,838

2,184,420

968,012

157,951,098

266,444

158,217,542