13th Aug 2009 07:00
|
|
|||||
|
Commercial International Bank (Egypt) S.A.E. |
|||||
|
Financial Statements |
|||||
|
June 30, 2009 |
|||||
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
|||||
|
FINANCIAL POSITION |
|
|
|
|
|
|
As of June 30 2009 |
|||||
|
Amounts in L.E. |
Note |
30-June 2009 |
31-Dec-2008 |
||
|
Assets |
|||||
|
Cash & Due From Central Bank |
5 |
4,114,701,616 |
4,473,011,942 |
||
|
Due From Banks |
6 |
7,807,348,485 |
6,411,397,744 |
||
|
Treasury Bills & Other Governmental Notes |
7 |
11,154,734,981 |
12,449,007,406 |
||
|
Trading Financial Assets |
8 |
774,306,116 |
497,554,487 |
||
|
Loans & Overdrafts |
12&11 |
27,161,846,172 |
26,330,327,878 |
||
|
Financial Investments: |
|||||
|
Available for Sale |
9 |
7,575,555,122 |
2,762,232,984 |
||
|
Held to Maturity |
9 |
638,693,110 |
681,263,274 |
||
|
Financial Investments in Subsidiary and associated companies |
14 |
1,138,493,937 |
1,138,332,672 |
||
|
Debit Balances and Other Assets |
16 |
754,460,068 |
942,621,482 |
||
|
Deferred Tax |
28 |
31,220,934 |
21,840,568 |
||
|
Fixed Assets (Net) |
17 |
773,811,530 |
715,251,587 |
||
|
Total Assets |
62,355,894,834 |
57,127,732,816 |
|||
|
Liabilities & Shareholders' Equity |
|||||
|
Liabilities |
|||||
|
Due to Banks |
18 |
3,573,891,247 |
213,470,012 |
||
|
Customer Deposits |
19 |
50,929,446,540 |
48,938,109,663 |
||
|
Financial Derivatives |
13 |
308,473,371 |
636,914,744 |
||
|
Credit Balances & Other Liabilities |
20 |
869,125,264 |
1,235,780,102 |
||
|
Long Term Loans |
21 |
108,168,665 |
109,273,933 |
||
|
Other Provisions |
22 |
375,312,389 |
363,218,186 |
||
|
Total Liabilities |
56,164,417,476 |
51,496,766,640 |
|||
|
Shareholders' Equity |
|||||
|
Issued & Paid- in Capital |
23 |
2,925,000,000 |
2,925,000,000 |
||
|
Reserves |
23 |
2,207,473,741 |
1,006,080,499 |
||
|
Reserve for employee stock ownership plan (ESOP) |
|
126,996,263 |
86,727,903 |
||
|
Retained Earnings |
(1,942,684) |
(1,942,684) |
|||
|
Total Shareholders' Equity |
5,257,527,320 |
4,015,865,718 |
|||
|
Net Profit of the Period/ Year |
933,950,038 |
1,615,100,458 |
|||
|
Total Shareholders' Equity & Net Profit |
6,191,477,358 |
5,630,966,176 |
|||
|
Total Liabilities & Shareholders' Equity |
62,355,894,834 |
57,127,732,816 |
|||
|
Contingent Liabilities & commitments |
|||||
|
Letters of Credit, Guarantees and Other Commitments |
24 |
12,991,908,320 |
13,290,994,705 |
||
|
INCOME STATEMENT |
|||||
|
As of June. 30 2009 |
June 30, 2009 |
June 30, 2008 (Restated) |
|||
|
Amounts in LE. |
Note |
||||
|
Interest and similar income |
25 |
2,012,664,456 |
1,684,590,269 |
||
|
Interest and similar expense |
25 |
(1,059,411,520) |
(928,362,172) |
||
|
Net Interest Income |
953,252,936 |
756,228,097 |
|||
|
Fees & Commissions Income |
313,645,336 |
363,936,283 |
|||
|
Fees & Commissions Expense |
(31,987,769) |
(23,332,096) |
|||
|
Net Income from Fees & Commissions |
281,657,567 |
340,604,187 |
|||
|
Dividends Income |
124,448,940 |
124,108,529 |
|||
|
Net Trading Income |
26 |
319,080,163 |
229,790,721 |
||
|
Provisions |
12&22 |
(61,497,940) |
(164,354,750) |
||
|
(Losses) Profits from Financial Investments |
9 |
31,032,893 |
94,481,354 |
||
|
Administrative Expenses |
(530,589,594) |
(407,483,408) |
|||
|
Other Operating (Expenses) Income |
10 |
(16,262,131) |
132,414,060 |
||
|
Net Profit Before Tax |
1,101,122,834 |
1,105,788,790 |
|||
|
Income Tax |
29 |
(176,553,162) |
(105,794,579) |
||
|
Deferred Tax |
28&29 |
9,380,366 |
(32,270,421) |
||
|
Net Profit After Tax |
933,950,038 |
967,723,790 |
|||
|
Earnings Per Share |
|||||
|
Basic |
2.83 |
2.93 |
|||
|
Diluted |
2.76 |
2.90 |
|||
|
CASH FLOW STATEMENT 1a |
|||||
|
As of June. 30 2008 |
June 30, 2009 |
June 30, 2008 (Restated) |
|||
|
Amounts in LE. |
|||||
|
Cash Flow From Operating Activities |
|||||
|
Net Income Before Tax |
1,101,122,834 |
1,105,788,790 |
|||
|
Adjustments To Reconcile Net Income |
|||||
|
To Net Cash Provided by operating Activities |
|||||
|
Depreciation |
94,192,342 |
65,209,394 |
|||
|
Provisions (Formed during the period) |
61,497,940 |
164,755,386 |
|||
|
Trading Financial Investment Evaluation Differences |
(20,074,180) |
15,280,544 |
|||
|
Impairment of Assets |
(1,163,011) |
- |
|||
|
Utilization of Provision (Other than Provision for Doubtful Debts) |
(5,061,073) |
(10,361,191) |
|||
|
Provisions no longer used |
- |
(94,706,704) |
|||
|
FCY Revaluation Differences of Provision Balances (Except Doubtful Debts) |
1,916,734 |
(1,783,606) |
|||
|
Losses From Selling of Fixed Assets |
(15,393,221) |
(5,034,478) |
|||
|
Losses From Selling of financial Investments |
(45,535,354) |
(60,545,338) |
|||
|
Losses from Selling an investment subsidiary |
- |
(15,258,991) |
|||
|
FCY Revaluation Difference of Long Term Loans |
308,628 |
729,177 |
|||
|
Share Based Payments |
40,268,360 |
28,850,246 |
|||
|
Operating Profit Before Changes in Operating Assets and Liabilities |
1,212,079,998 |
1,157,923,229 |
|||
|
Net Decrease (Increase) in Assets |
|||||
|
Due from banks |
(1,910,710,733) |
(1,015,132,615) |
|||
|
Treasury Bills & Other Governmental Notes |
2,216,468,549 |
55,781,462 |
|||
|
Trading Financial Assets |
(256,677,448) |
(205,492,841) |
|||
|
Financial Derivatives (Net) |
(54,273,344) |
(28,138,148) |
|||
|
Loans & Overdrafts |
(873,938,640) |
(3,902,357,346) |
|||
|
Net Increase (Decrease) In Liabilities |
|||||
|
Debit Balances & Other Assets |
129,174,480 |
(629,643,698) |
|||
|
Due to Banks |
3,360,421,235 |
1,741,061,367 |
|||
|
Customer Deposits |
1,991,336,877 |
6,103,350,907 |
|||
|
Credit Balances & Other Liabilities |
(543,208,000) |
4,449,444 |
|||
|
Net Cash Provided from Operating Activities |
5,270,672,974 |
3,281,801,761 |
|||
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
|||||
|
CASH FLOW STATEMENT 1b |
|||||
|
As of June. 30 2009 |
June 30, 2009 |
June 30, 2008 |
|||
|
Cash Flow From Investment Activities |
|||||
|
Sales of subsidiaries & associated companies |
64,368,072 |
18,126,009 |
|||
|
Purchase of Fixed Assets, premises and Fitting-out of Branches |
(82,211,182) |
(80,245,398) |
|||
|
Redemption of Held-to-Maturity Financial Investments |
48,739,592 |
157,040,360 |
|||
|
Held to Maturity Financial Investment Purchases |
(6,169,428) |
- |
|||
|
Available for Sale Financial Investments |
(4,766,623,773) |
(1,129,488,697) |
|||
|
Net Cash (Used in) Provided from Investing Activities |
(4,741,896,719) |
(1,034,567,726) |
|||
|
Cash Flow From Financing Activities |
|||||
|
Increase (Decrease) in Long Term Loans |
(1,413,896) |
(36,184,758) |
|||
|
Dividends Paid |
(478,236,553) |
(336,727,470) |
|||
|
- |
|||||
|
Net Cash (Used in) Financing Activities |
(479,650,449) |
(372,912,228) |
|||
|
Net cash & cash equivalent changes |
49,125,805 |
1,874,321,807 |
|||
|
Beginning Balance of cash and cash equivalent |
8,622,040,072 |
6,779,152,548 |
|||
|
Cash & Cash equivalent Balance At the End of the period |
8,671,165,877 |
8,653,474,355 |
|||
|
Cash & Cash Equivalent are Represented as Follows |
|||||
|
Cash and Due from Central Bank |
4,114,701,615 |
7,218,498,485 |
|||
|
Due From Banks |
7,807,348,485 |
14,522,244,685 |
|||
|
Treasury Bills & other Governmental Notes |
11,154,734,981 |
2,776,871,582 |
|||
|
Due from Banks (time deposits) |
(7,627,665,005) |
(14,279,351,149) |
|||
|
Treasury Bills with Maturity More than Three Months |
(6,777,954,199) |
(1,584,789,248) |
|||
|
Total Cash & Cash Equivalent |
8,671,165,877 |
8,653,474,355 |
|||
|
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E |
|
|
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY |
|
|
As of June 30 2009 |
|
|
2008 |
Capital |
Legal Reserves |
General Reserves |
Retained Earnings* |
Special Reserves |
Reserves for A.F.S* Inv. Revaluation Diff. |
Profits of the year |
Reserve for Employee Stock ownership plan ESOP |
Total |
|
Beginning Balance |
1,950,000,000 |
432,851,511 |
1,382,547,602 |
11,628,342 |
185,993,785 |
60,903,531 |
0 |
29,159,584 |
4,053,084,355 |
|
Derivatives revaluations settlement* |
0 |
0 |
0 |
(13,571,026) |
0 |
0 |
0 |
0 |
(13,571,026) |
|
Capital Increase* |
975,000,000 |
0 |
(975,000,000) |
0 |
0 |
0 |
0 |
0 |
0 |
|
Net Profit of the year |
0 |
0 |
0 |
0 |
0 |
0 |
1,615,100,458 |
0 |
1,615,100,458 |
|
Usage part of reserve |
0 |
0 |
0 |
0 |
0 |
(81,215,930) |
0 |
0 |
(81,215,930) |
|
Reserve for employee stock ownership plan ESOP** |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
57,568,319 |
57,568,319 |
|
Ending Balance |
2,925,000,000 |
432,851,511 |
407,547,602 |
(1,942,684) |
185,993,785 |
(20,312,399) |
1,615,100,458 |
86,727,903 |
5,630,966,176 |
|
2009 |
Capital |
Legal Reserves |
General Reserves* |
Retained Earnings* |
Special Reserves |
Reserves for A.F.S* Inv. Revaluation Diff. |
Profits for the period |
Reserve for Employee Stock ownership plan ESOP |
Total |
|
Beginning Balance |
2,925,000,000 |
432,851,511 |
407,547,602 |
(1,942,684) |
185,993,785 |
(20,312,399) |
1,615,100,458 |
86,727,903 |
5,630,966,176 |
|
Transfer to Reserves |
0 |
80,755,023 |
1,056,108,882 |
0 |
0 |
0 |
(1,136,863,905) |
0 |
0 |
|
Dividends Paid |
0 |
0 |
0 |
0 |
0 |
0 |
(478,236,553) |
0 |
(478,236,553) |
|
Net Profits of the Period |
0 |
0 |
0 |
0 |
0 |
0 |
933,950,038 |
0 |
933,950,038 |
|
Addition from financial Investment Revaluation |
0 |
0 |
0 |
0 |
0 |
64,529,337 |
64,529,337 |
||
|
Reserve for employee stock ownership plan ESOP |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
40,268,360 |
40,268,360 |
|
Ending Balance |
2,925,000,000 |
513,606,534 |
1,463,656,484 |
(1,942,684) |
185,993,785 |
44,216,938 |
933,950,438 |
126,996,263 |
6,191,477,358 |
* Note No. (23)
** Note No. (31)
Related Shares:
Com.int.bk.regs