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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 | 64,615 | 01:00:00 |
TIDMCBKD
RNS Number : 2181S
Commercial Intnl Bank (Egypt) SAE
05 November 2019
Commercial International Bank (Egypt) S.A.E. Separate Financial Statements September 30, 2019 Separate balance sheet as at September 30, 2019 Notes Sep. 30, 2019 Dec. 31, 2018 EGP Thousands EGP Thousands Assets Cash and balances with central bank 15 27,205,020 20,058,974 Due from banks 16 25,599,127 46,518,892 Loans and advances to banks, net 18 642,973 67,703 Loans and advances to customers, net 19 109,994,085 106,309,205 Derivative financial instruments 20 291,686 52,289 Investments - Financial investments securities 21 198,155,796 157,585,611 - Investments in associates and subsidiaries 22 64,529 68,633 Other assets 23 9,507,627 9,563,218 Intangible assets 40 141,059 238,715 Deferred tax assets (Liabilities) 31 492,460 308,370 Property, plant and equipment 24 2,014,187 1,651,875 Total assets 374,108,549 342,423,485 Liabilities and equity Liabilities Due to banks 25 1,828,108 7,259,819 Due to customers 26 307,884,232 285,340,472 Derivative financial instruments 20 302,812 132,858 Current tax liabilities 3,283,731 3,625,579 Other liabilities 28 8,363,686 6,501,553 Other loans 27 3,400,294 3,721,529 Provisions 29 1,479,338 1,694,607 Total liabilities 326,542,201 308,276,417 Equity Issued and paid up capital 30 14,585,408 11,668,326 Reserves 33 23,329,501 12,184,667 Reserve for employee stock ownership plan (ESOP) 33 1,110,317 738,320 Retained earnings * 33 8,541,122 9,555,755 Total equity 47,566,348 34,147,068 Total liabilities and equity 374,108,549 342,423,485 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 September 30, 2019 Note Sep. 30, Sep. 30, 2019 2018 EGP EGP Thousands Thousands Interest and similar income 31,652,305 27,150,333 Interest and similar expense (16,204,157) (13,842,130) Net interest income 6 15,448,148 13,308,203 Fee and commission income 2,544,996 2,464,173 Fee and commission expense (857,475) (703,749) Net fee and commission income 7 1,687,521 1,760,424 Dividend income 8 22,454 25,063 Net trading income 9 561,877 745,248 Profits (Losses) on financial investments 21 263,132 402,153 Administrative expenses 10 (3,885,776) (2,947,507) Other operating (expenses) income 11 (1,015,131) (997,218) Intangible assets amortization 40 (97,656) (97,656) Impairment charge for credit losses 12 (1,207,315) (2,803,402) Profit before income tax 11,777,254 9,395,308 Income tax expense 13 (3,283,731) (2,563,006) Deferred tax assets 31 - (Liabilities) 13 47,599 170,493 Net profit for the period 8,541,122 7,002,795 Earning per share 14 Basic 5.27 4.32 Diluted 5.23 4.29 Hisham Ezz Al-Arab Chairman and Managing Director Separate statement of other comprehensive income for the period ended September 30, 2019 Notes Sep. 30, 2019 Sep. 30, 2018 EGP Thousands EGP Thousands Net profit for the period 8,541,122 7,002,795 Reserve for financial assets at fair value through OCI 5,199,526 (3,313,259) Total other comprehensive income for the period 13,740,648 3,689,536 Separate cash flow for the period ended September 30, 2019 Notes Sep. 30, 2019 Sep. 30, 2018 EGP Thousands EGP Thousands Cash flow from operating activities Profit before income tax 11,777,254 9,395,308 Adjustments to reconcile net profit to net cash provided by operating activities Fixed assets depreciation 24 425,637 279,798 Impairment charge for credit losses 12 1,256,000 2,803,402 Other provisions charges 29 12,494 90,731 Provisions charges - due from banks 12 23,161 - Provisions charges - financial investments 12 (71,846) - Impairment charge for other assets 23 83,213 242,481 Exchange revaluation differences for financial assets at fair value through OCI 21 1,303,741 (103,827) Intangible assets amortization 40 97,656 97,656 Impairment charge financial assets at fair value through OCI 21 45,664 19,721 Exchange differences in financial investments in subsidiary 22 4,104 (470) Utilization of other provisions 29 (27,733) (969) Other provisions no longer used 29 (96,499) (45,079) Exchange differences of other provisions 29 (103,531) 2,776 Profits from selling property, plant and equipment 11 (1,439) (1,045) (Profits) losses from selling financial investments 21 (310,329) (421,874) Shares based payments 371,997 324,510 Operating profits before changes in operating assets and liabilities 14,789,544 12,683,119 Net decrease (increase) in assets and liabilities Due from banks 16 (13,052,086) (42,520,192) Treasury bills and other governmental notes 41 4,974,205 6,405,425 Financial assets at fair value through P&L 21 2,252,280 3,182,127 Derivative financial instruments 20 (67,282) (42,783) 18 - Loans and advances to banks and customers 19 (4,796,325) (18,806,624) Other assets 42 247,536 (3,368,677) Due to banks 25 (5,431,711) (513,151) Due to customers 26 22,543,760 29,858,632 Income tax obligations paid (3,625,579) (2,778,973) Other liabilities 28 1,862,133 1,459,794 Net cash provided from operating activities 19,696,475 (14,441,303) Cash flow from investing activities Payment for purchases of subsidiary and
associates - (10,575) Payment for purchases of property, plant, equipment and branches constructions (1,066,607) (652,768) Proceeds from selling property, plant and equipment 11 1,439 1,045 Proceeds from redemption of financial assets at amortized cost 21 33,937,957 7,321,780 Payment for purchases of financial assets at amortized cost 21 (47,344,534) (4,703,236) Payment for purchases of financial assets at fair value through OCI 21 (26,637,577) (11,372,289) Proceeds from selling financial assets at fair value through OCI 5,350,754 1,985,962 Net cash used in investing activities (35,758,568) (7,430,081) Cash flow from financing activities Increase in long term loans 27 (321,235) 4,358 Dividend paid (2,700,544) (2,143,177) Capital increase - 50,315 Net cash used in (provided from) financing activities (3,021,779) (2,088,504) Net increase (decrease) in cash and cash equivalent during the period (19,083,872) (23,959,888) Beginning balance of cash and cash equivalent 34,303,645 49,208,837 Cash and cash equivalent at the end of the period 15,219,773 25,248,949 Cash and cash equivalent comprise: Cash and balances with central bank 15 27,205,020 33,253,111 Due from banks 16 25,629,602 45,038,599 Treasury bills and other governmental notes 17 44,736,504 48,324,427 Obligatory reserve balance with CBE 15 (20,770,245) (23,004,955) Due from banks with maturities more than three months (16,541,989) (30,113,810) Treasury bills with maturity more than three months (45,039,119) (48,248,423) Total cash and cash equivalent 15,219,773 25,248,949 Separate statement of changes in shareholders' equity for the period ended September 30, 2018 Sep. 30, 2018 Issued and Legal General General Special Capital Reserve Banking IFRS 9 Retained Reserve Total paid up reserve reserve risk reserve reserve for risks risk earnings for capital reserve* financial reserve reserve employee assets stock at fair ownership value plan through OCI Beginning balance 11,618,011 1,332,807 9,000,023 - 20,645 11,815 (1,642,958) 3,634 1,411,549 6,138,790 489,334 28,383,650 Capital increase 50,315 - - - - - - - - - - 50,315 Transferred to reserves - 377,486 3,776,192 - - 606 - - - (3,994,924) (159,360) - Dividend paid - - - - - - - - - (2,143,177) - (2,143,177) Net profit for the period - - - - - - - - - 7,002,795 - 7,002,795 Net unrealised gain/(loss) on financial assets at fair value through OCI - - - - - - (3,313,259) - - - - (3,313,259) Transferred (from) to bank risk reserve - - - - - - - 689 - (689) - - Cost of employees stock ownership plan (ESOP) - - - - - - - - - - 324,510 324,510 Ending balance 11,668,326 1,710,293 12,776,215 - 20,645 12,421 (4,956,217) 4,323 1,411,549 7,002,795 654,484 30,304,834 ----------- ---------- ----------- --------- -------- -------- ------------ -------- ---------- ------------ ---------- ------------ --------- -------- Separate statement of changes in shareholders' equity for the period ended September 30, 2019 Sep. 30, Issued and Legal General General Special Capital Reserve Banking IFRS 9 risk Retained Reserve Total 2019 paid up reserve reserve risk reserve reserve for risks reserve earnings for capital reserve* financial reserve employee assets at stock fair value ownership through plan OCI Beginning balance 11,668,326 1,710,293 12,776,215 - 20,645 12,421 (3,750,779) 4,323 1,411,549 9,555,755 738,320 34,147,068 Effect of applying IFRS 9** - - - 117,251 - - 1,889,928 - - - - 2,007,179 Transferred to general risk reserve - - - 1,432,194 (20,645) - - - (1,411,549) - - - Beginning balance after the impact of initial application 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 - - - - - - - - - 8,541,122 - 8,541,122 Net unrealised gain/(loss) on financial assets at fair value through OCI - - - - - - 5,271,372 - - - - 5,271,372 Transferred (from) to bank risk reserve - - - - - - - 841 - (841) - - Provision for impairment of debt instruments investments - - - - - (71,846) - - - - (71,846) Cost of employees stock ownership
plan (ESOP) - - - - - - - - - - 371,997 371,997 Ending balance 14,585,408 2,188,029 16,234,722 1,549,445 - 13,466 3,338,675 5,164 - 8,541,122 1,110,317 47,566,348 ----------- ---------- ------------ ---------- --------- -------- ------------ -------- ------------ ------------ ---------- ------------ *The special reserve, general bank risk reserve and IFRS 9 risk reserve - were consolidated in the general risk reserve as per the instructions of the Central Bank of Egypt dated 26 February 2019 **The initial application impact (disclosure in page number 16) The initial application impact is LE 109,697 thousand and the tax effect is LE 7,554 thousand Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/2181S_1-2019-11-4.pdf
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.
END
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November 05, 2019 02:00 ET (07:00 GMT)
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