Final Results

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

Unconsolidated Financial Statements

December 31, 2012

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of Dec. 31, 2012

Amounts in EGP.

Note

Dec. 31 ,2012

Dec.31, 2011

Assets

Cash and Due with Central Bank

15

5,393,974,124

7,492,064,510

Due From Banks

16

7,957,710,034

8,449,298,705

Treasury Bills and Other Governmental Notes

17

7,978,030,413

9,213,390,067

Trading Financial Assets

18

1,472,281,763

561,084,273

Loans and Advances to Banks

19

1,178,867,739

1,395,594,609

Loans and Advances to Customers

20

40,698,313,773

39,669,785,864

Derivative Financial Investments

21

137,459,761

146,544,656

Financial Investments

Available for Sale

22

21,161,884,032

15,412,566,069

Held to Maturity

22

4,205,753,328

29,092,920

Investments in Subsidiary and Associates

23

938,033,700

995,595,778

Investment Property

24

10,395,686

12,774,686

Other Assets

25

2,459,025,844

1,518,509,876

Deferred Tax

33

129,133,209

95,141,726

Property, Plant and Equipment

26

684,527,896

636,775,294

Total Assets

94,405,391,302

85,628,219,033

Liabilities and Equity

Liabilities

Due to Banks

27

1,714,862,716

3,340,794,517

Due to Customers

28

78,834,726,890

71,574,047,530

Derivative Financial Instruments

21

119,099,260

114,287,990

Other Liabilities

30

2,034,351,571

1,313,785,436

Long Term Loans

29

80,495,238

99,333,376

Other Provisions

31

310,648,113

264,625,909

Total Liabilities

83,094,183,788

76,706,874,758

Equity

Issued & Paid- in Capital

32

5,972,275,410

5,934,562,990

Reserves

32

2,970,458,093

1,085,472,868

Reserve for Employee Stock Ownership Plan (ESOP)

164,761,121

137,354,419

Retained Earnings

1,001,979

15,105,920

Total Equity

9,108,496,603

7,172,496,197

Net Profit of the Year After Tax

2,202,710,911

1,748,848,078

Total Equity and Net Profit for the Year

11,311,207,514

8,921,344,275

Total Liabilities and Equity

94,405,391,302

85,628,219,033

Contingent Liabilities and Commitments

Letters of Credit, Guarantees and other commitments

37

14,897,789,005

12,559,603,516

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of Dec. 31, 2012

Amounts in EGP.

Note

Dec.31, 2012

Dec. 31, 2011

Interest and Similar Income

7,845,913,494

5,459,248,277

Interest and Similar Expense

(3,945,237,550)

(2,780,703,161)

Net Interest Income

6

3,900,675,944

2,678,545,116

Fee and Commissions Income

942,867,320

865,620,940

Fee and Commissions Expense

(107,365,742)

(87,451,431)

Net Income from Fees and Commissions

7

835,501,578

778,169,509

Dividend Income

8

32,234,196

59,921,078

Net Trading Income

9

565,727,965

368,912,520

Profit from Financial Investments

22

(116,514,246)

19,799,495

Administrative Expenses

10

(1,444,645,467)

(1,336,701,608)

Other Operating (Expenses) Income

11

(109,790,791)

(68,220,065)

Impairment Charge for Credit Loses

12

(609,971,077)

(320,648,863)

Net Profit before Tax

3,053,218,102

2,179,777,182

Income Tax Expense

13

(884,498,673)

(446,414,136)

Deferred Tax

13 and 33

33,991,482

15,485,032

Net Profit of the Year

2,202,710,911

1,748,848,078

Earning per share

14

Basic

3.53

2.43

Diluted

3.47

2.39

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of Dec. 31, 2012

Amounts in EGP.

Dec. 31, 2012

Dec. 31, 2011

Cash Flow From Operating Activities

Net Profit Before Tax

3,053,218,102

2,179,777,182

Adjustments To Reconcile Net Profit to Net Cash

Provided by Operating Activities

Depreciation

167,225,901

185,074,214

Assets Impairment Charges

609,971,078

322,276,483

Other Provisions Charges

51,616,933

4,217,707

Trading Financial Investment Revaluation Differences

(78,642,848)

61,887,578

Available For Sale And Held to Maturity investments exchange revaluation differences

(60,242,239)

(60,380,784)

Financial Investments Impairment Charge (Release)

7,902,478

58,080,987

Utilization of Other Provisions

(12,294,615)

(3,412,238)

Other Provisions No Longer Used

(531,054)

(48,748,110)

Exchange Differences of Other Provisions

7,230,941

2,329,620

Profits From Selling Property, Plant and Equipment

(2,387,583)

(2,716,747)

Profits From Selling Financial Investments

(519,013)

(37,608,880)

Profits from Selling Associates

0

(1,873,813)

Exchange Difference of Long Term Loans

0

164,818

Share Based Payments

79,068,829

77,459,887

Investments in Subsidiary and Associates Revaluation

89,736,000

18,430,000

Real Estate Investments Impairment Charges

(371,000)

400,000

Operating Profits Before Changes in Operating Assets and Liabilities

3,910,981,910

2,639,195,930

Net Decrease (Increase) in Assets and Liabilities

Due from banks

521,695,379

(1,857,455,963)

Treasury Bills & Other Governmental Notes

758,289,224

(1,729,254,403)

Trading Financial Assets

(832,554,642)

799,066,990

Derivative Financial Instrument

13,896,165

(6,543,758)

Loans and Advances to Banks and Customers

(1,421,772,116)

(6,213,116,023)

Other Assets

(948,385,056)

(92,518,310)

Due to Banks

1,625,931,801

2,018,514,608

Due to Customers

7,260,679,360

8,094,163,906

Other Liabilities

(163,932,540)

(261,547,906)

Net Cash Provided from Operating Activities

7,472,965,883

3,390,505,071

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2011

Cash Flow From Investing Activities

Purchase of Subsidiary and Associates

(32,173,922)

(16,834,427)

Proceeds from Selling Subsidiary and Associates

-

1,000,000

Purchases of Property, Plant and Equipment

(204,721,832)

(153,108,029)

Redemption of Held-to-Maturity Financial Investments

-

271,802,813

Purchases of Held to Maturity Financial Investments

(4,176,660,408)

(5,000,000)

Purchases of Available for Sale Financial Investments

(10,163,193,809)

(4,535,816,259)

Proceeds from Selling Available for Sale Financial Investments

5,343,312,220

2,172,867,695

Proceeds from Selling Real Estate Investments

2,750,000

15,520,978

Net Cash Generated from (Used in) Investing Activities

(9,230,687,751)

(2,249,567,229)

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

(18,838,138)

(29,944,867)

Dividends Paid

(806,206,521)

(841,922,204)

Capital Increase

37,712,420

33,119,390

Net Cash Generated from (Used in) Financing Activities

(787,332,239)

(838,747,681)

Net Increase (Decrease) in Cash and Cash Equivalent

(2,545,054,107)

302,190,161

Beginning Balance of Cash and Cash Equivalent

8,081,134,203

7,778,944,041

Cash and Cash Equivalent Balance At the End of the Year

5,536,080,096

8,081,134,202

Cash & Cash Equivalent Comprise

Cash and Balances with Central Bank

5,393,974,124

7,492,064,510

Due From Banks

7,957,710,034

8,449,298,705

Treasury Bills and Other Governmental Notes

7,978,030,413

9,213,390,067

Obligatory Reserve Balance With CBE

(3,093,283,199)

(3,014,779,811)

Due from Banks (Time Deposits) More than Three Months

(4,637,273,015)

(5,237,471,784)

Treasury Bills with Maturity More than Three Months

(8,063,078,261)

(8,821,367,485)

Total Cash & Cash Equivalent

5,536,080,096

8,081,134,202

Dec.31, 2011

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings (losses)

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Inv. Revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Net Profit of the Year

(EGP)

Reserve for Employee Stock ownership plan ESOP

Total

(EGP)

Beginning Balance

5,901,443,600

125,128,337

78,564,646

20,231,298

184,356,569

(18,014,631)

156,992,515

2,010,672,119

149,520,859

8,608,895,311

Capital Increase

33,119,390

-

-

-

-

-

-

-

-

33,119,390

Transferred to Reserves

-

106,216,559

1,155,710,314

-

1,574,746

-

-

(1,173,875,293)

(89,626,327)

-

Dividends Paid

-

-

-

(20,231,298)

-

-

-

(821,690,906)

-

(841,922,204)

Net Profit of the Year

-

-

-

-

-

-

-

1,748,848,078

-

1,748,848,078

Addition from Financial Investment Revaluation

-

-

-

-

-

(705,056,187)

-

-

-

(705,056,187)

Transferred to Bank Risk Reserve

-

-

-

-

-

-

124,697,104

(124,697,104)

-

-

Reserve for Employee Stock Ownership Plan ESOP

-

-

-

-

-

-

-

-

77,459,887

77,459,887

The Effect of Changing Accounting Policies

-

-

-

15,105,920

-

-

-

(15,105,920)

-

-

Balance at the end of the Year

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

Dec.31, 2012

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings (losses)

(EGP)

Special Reserves

(EGP)

Reserves for A.F.S Inv. Revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Net Profit of the year

(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)

-

Dividends Paid

-

-

-

(15,105,920)

-

-

-

(791,100,601)

-

(806,206,521)

Net Profit of the Year

-

-

-

-

-

-

-

2,202,710,911

-

2,202,710,911

Transfer from special reserve

-

61,697,292

8,143,225

1,001,979

(70,842,496)

-

-

-

-

-

Addition from Financial Investment Revaluation

-

-

-

-

-

876,577,599

-

-

-

876,577,599

Transferred to Bank Risk Reserve

-

-

-

-

-

-

(177,972,687)

177,972,687

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

79,068,829

79,068,829

Balance at the End of Year

5,972,275,410

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