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Name | Symbol | Market | Type |
---|---|---|---|
Commercial International Bank Egypt CIB | LSE:CBKD | London | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.386 | 1.38 | 1.386 | 64,570 | 01:00:00 |
TIDMCBKD
RNS Number : 8643L
Commercial Intnl Bank (Egypt) SAE
05 May 2020
Commercial International Bank (Egypt) S.A.E. Separate Financial Statements March 31, 2020 Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/8643L_1-2020-5-4.pdf Separate balance sheet as at March 31, 2020 Notes Mar. 31, 2020 Dec. 31, 2019 EGP Thousands EGP Thousands Assets Cash and balances with central bank 15 27,169,495 28,273,962 Due from banks 16 26,608,406 28,353,366 Loans and advances to banks, net 18 937,043 625,264 Loans and advances to customers, net 19 115,422,951 119,321,103 Derivative financial instruments 20 377,344 216,383 Investments - Financial Assets at Fair Value through P&L 21 314,665 418,781 - Financial Assets at Fair value through OCI 21 92,469,884 89,897,257 -Amortized cost 21 106,531,563 107,225,613 -Investments in associates and subsidiaries 22 49,132 63,953 Other assets 23 9,011,803 9,747,939 Deferred tax assets (Liabilities) 31 425,580 350,339 Property, plant and equipment 24 2,226,095 2,202,698 Total assets 381,543,775 386,696,658 Liabilities and equity Liabilities Due to banks 25 10,437,923 11,810,607 Due to customers 26 309,997,120 304,483,655 Derivative financial instruments 20 479,441 282,588 Current tax liabilities 1,332,487 4,639,364 Other liabilities 28 7,674,064 8,396,487 Other loans 27 3,181,170 3,272,746 Provisions 29 2,389,204 2,011,369 Total liabilities 335,491,409 334,896,816 Equity Issued and paid up capital 30 14,690,821 14,690,821 Reserves 33 27,862,114 24,342,314 Reserve for employee stock ownership plan (ESOP) 33 1,108,221 963,152 Retained earnings * 33 2,391,210 11,803,555 Total equity 46,052,366 51,799,842 Total liabilities and equity 381,543,775 386,696,658 The accompanying notes are an integral part of these financial statements. (Review report attached) *Including net profit for the current period Hisham Ezz Al-Arab Chairman and Managing Director Separate income statement for the period ended March 31, 2020 Note Mar. 31, Mar. 31, 2020 2019 EGP EGP Thousands Thousands Interest and similar income 10,687,101 10,278,050 Interest and similar expense (4,491,834) (5,339,464) Net interest income 6 6,195,267 4,938,586 Fee and commission income 805,413 855,477 Fee and commission expense (305,561) (277,625) Net fee and commission income 7 499,852 577,852 Dividend income 8 - 121 Net trading income 9 (5,425) 249,879 Profits (Losses) on financial investments 21 470,150 6,377 Administrative expenses 10 (1,524,538) (1,320,672) Other operating (expenses) income 11 (747,740) (141,097) Intangible assets amortization - (32,552) Impairment release (charges) for credit losses 12 (1,240,110) (520,727) Profit before income tax 3,648,456 3,757,767 Income tax expense 13 (1,332,487) (1,090,009) 31 - Deferred tax assets (Liabilities) 13 75,241 (25,411) Net profit for the period 2,391,210 2,642,347 Earnings per share 14 1.44 1.59 Basic 1.43 1.58 Diluted Hisham Ezz Al-Arab Chairman and Managing Director Separate statement of other comprehensive income for the period ended March 31, 2020 Notes Mar. 31, Mar. 31, 2020 2019 EGP EGP Thousands Thousands Net profit for the period 2,391,210 2,642,347 Net change in fair value of debt instruments measured at fair value through other comprehensive income (4,865,970) 2,442,704 Net change in fair value of debt instruments measured at fair value through other comprehensive income (47,321) (107,122) Expected credit loss for fair value of debt instruments measured at fair value through other comprehensive income Total other comprehensive income for the year (2,522,081) 4,977,929 Separate cash flow for the period ended March 31, 2020 Notes Mar. 31, Mar. 31, 2020 2019 EGP EGP Thousands Thousands Cash flow from operating activities Profit before income tax 3,648,456 3,757,767 Adjustments to reconcile net profit to net cash provided by operating activities Fixed assets depreciation 24 160,538 131,898 Impairment charge for credit losses (Loans and advances to customers) 12 1,272,649 634,951 Other provisions charges 29 439,410 2,077 Impairment charge for credit losses (due from banks) 12 14,782 (7,102) Impairment charge for credit losses (financial investments) 12 (47,321) (107,122) Impairment charge for other assets 23 13,707 24,814 Exchange revaluation differences for financial assets at fair value through OCI 21 287,889 334,394 Intangible assets amortization - 32,552 Impairment charge financial assets at fair value through OCI 21 - 45,664 Exchange differences in financial investments in subsidiary 22 719 1,485 Utilization of other provisions 29 (726) 2,461 Other provisions no longer used 29 (38,630) (164,335) Exchange differences of other provisions 29 (22,219) (37,871) (Profits) losses from selling property, plant and equipment 11 (94) - (Profits) losses from selling financial investments 21 (554,113) (52,041) Shares based payments 145,069 124,000 Released (Impairment) charges of investments in associates and subsidiaries 14,100 - Released (Impairment) charges of equity instruments 69,863 - Operating profits before changes in operating assets and liabilities 5,404,079 4,723,592 Net decrease (increase) in assets and liabilities Due from banks 15 211,025 (17,549,341) Treasury bills and other governmental notes - 15,781,350
Financial assets at fair value through P&L 21 104,116 2,180,287 Derivative financial instruments 20 35,892 (47,159) 18 - Loans and advances to banks and customers 19 2,428,551 (6,035,057) Other assets 40 857,769 (587,120) Due to banks 25 (1,372,684) (3,921,303) Due to customers 26 5,513,465 8,051,449 Income tax obligations paid (4,639,364) (3,762,070) Other liabilities 28 (722,423) 3,487,750 Net cash provided from operating activities 7,820,426 2,322,378 Cash flow from investing activities Payment for purchases of property, plant, equipment and branches constructions (319,089) (483,048) Proceeds from selling property, plant and equipment 11 94 - Proceeds from redemption of financial assets at amortized cost 21 45,639,889 33,452,378 Payment for purchases of financial assets at amortized cost 21 (44,945,839) (32,834,360) Payment for purchases of financial assets at fair value through OCI 21 (62,050,349) (4,493,603) Proceeds from selling financial assets at fair value through OCI 54,866,521 4,617,766 Net cash used in investing activities (6,808,773) 259,133 Cash flow from financing activities Increase (decrease) in long term loans 27 (91,576) (114,541) Dividend paid (3,370,464) (2,700,544) Net cash used in (provided from) financing activities (3,462,040) (2,815,085) Net increase (decrease) in cash and cash equivalent during the year (2,450,387) (233,574) Beginning balance of cash and cash equivalent 22,895,017 34,303,645 Cash and cash equivalent at the end of the year 20,444,630 34,070,071 Cash and cash equivalent comprise: Cash and balances with central bank 15 27,169,495 24,741,584 Due from banks 16 26,640,005 51,538,237 Treasury bills and other governmental notes 17 29,091,960 33,831,714 Obligatory reserve balance with CBE 15 (22,186,285) (17,837,693) Due from banks with maturities more than three months (10,415,104) (23,971,797) Treasury bills with maturity more than three months (29,855,441) (34,231,974) Total cash and cash equivalent 20,444,630 34,070,071 Separate statement of changes in shareholders' equity for the year ended March 31, 2019 Mar. 31, Issued and Legal General General Capital Reserve Banking Retained Reserve Total 2019 paid up reserve reserve risk reserve for risks earnings for capital reserve financial reserve employee assets stock at fair ownership value plan through OCI EGP Thousands Beginning balance 11,668,326 1,710,293 12,776,215 1,549,445 12,421 (1,860,851) 4,323 9,555,755 738,320 36,154,247 Capital increase 2,917,082 - (2,917,082) - - - - - - - Transferred to reserves - 477,736 6,375,589 - 1,045 - - (6,854,370) - - Dividend paid - - - - - - - (2,700,544) - (2,700,544) Net profit for the period - - - - - - - 2,642,347 - 2,642,347 Net unrealised gain/(loss) on financial assets at fair value through OCI - - - - - 2,442,704 - - - 2,442,704 Transferred (from) to bank risk reserve - - - - - - 841 (841) - - ECL for impairment of debt instruments investments - - - - - (107,122) - - - (107,122) Cost of employees stock ownership plan (ESOP) - - - - - - - - 124,000 124,000 Ending balance 14,585,408 2,188,029 16,234,722 1,549,445 13,466 474,731 5,164 2,642,347 862,320 38,555,632 Separate statement of changes in shareholders' equity for the year ended March 31, 2020 Mar. 31, Issued and Legal General General Capital Reserve Banking Retained Reserve Total 2020 paid up reserve reserve risk reserve for risks earnings for capital reserve financial reserve employee assets stock at fair ownership value plan through OCI EGP Thousands Beginning balance 14,690,821 2,188,029 16,474,429 1,549,445 13,466 4,111,781 5,164 11,803,555 963,152 51,799,842 Capital - - - - - - - - - - increase Transferred to reserves - 590,106 7,840,286 - 1,440 - - (8,431,832) - - Dividend paid - - - - - - - (3,370,464) - (3,370,464) Net profit for the period - - - - - - - 2,391,210 - 2,391,210 Net unrealised gain/(loss) on financial assets at fair value through OCI - - - - - (4,865,970) - - - (4,865,970) Transferred (from) to bank risk reserve - - - - - - 1,259 (1,259) - - Release provision for impairment of debt instruments investments - - - - (47,321) - - - (47,321) Cost of employees stock ownership plan (ESOP) - - - - - - - - 145,069 145,069 Ending balance 14,690,821 2,778,135 24,314,715 1,549,445 14,906 (801,510) 6,423 2,391,210 1,108,221 46,052,366
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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May 05, 2020 05:21 ET (09:21 GMT)
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