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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 : 8260B
Commercial Intnl Bank (Egypt) SAE
04 February 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/8260B_1-2020-2-3.pdf
Commercial International Bank (Egypt) S.A.E. Separate Financial Statements December 31, 2019 Separate balance sheet as at December 31, 2019 Notes Dec. 31, 2019 Dec. 31, 2018 EGP Thousands EGP Thousands Assets Cash and balances with central bank 15 28,273,962 20,058,974 Due from banks 16 28,353,366 46,518,892 Loans and advances to banks, net 18 625,264 67,703 Loans and advances to customers, net 19 119,321,103 106,309,205 Derivative financial instruments 20 216,383 52,289 Investments - Financial investments securities 21 197,541,651 157,585,611 - Investments in associates and subsidiaries 22 63,953 68,633 Other assets 23 9,747,939 9,563,218 Intangible assets 40 - 238,715 Deferred tax assets (Liabilities) 31 350,339 308,370 Property, plant and equipment 24 2,202,698 1,651,875 Total assets 386,696,658 342,423,485 Liabilities and equity Liabilities Due to banks 25 11,810,607 7,259,819 Due to customers 26 304,483,655 285,340,472 Derivative financial instruments 20 282,588 132,858 Current tax liabilities 4,639,364 3,625,579 Other liabilities 28 8,396,487 6,501,553 Other loans 27 3,272,746 3,721,529 Provisions 29 2,011,369 1,694,607 Total liabilities 334,896,816 308,276,417 Equity Issued and paid up capital 30 14,690,821 11,668,326 Reserves 33 24,342,314 12,184,667 Reserve for employee stock ownership plan (ESOP) 33 963,152 738,320 Retained earnings * 33 11,803,555 9,555,755 Total equity 51,799,842 34,147,068 Total liabilities and equity 386,696,658 342,423,485 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 December 31, 2019 Note Dec. 31, Dec. 31, 2019 2018 EGP EGP Thousands Thousands Interest and similar income 42,600,957 37,403,709 Interest and similar expense (21,022,838) (19,260,190) Net interest income 6 21,578,119 18,143,519 Fee and commission income 3,451,688 3,402,616 Fee and commission expense (1,170,893) (991,957) Net fee and commission income 7 2,280,795 2,410,659 Dividend income 8 53,423 25,958 Net trading income 9 688,059 1,089,076 Profits (Losses) on financial investments 21 450,697 402,067 Administrative expenses 10 (5,044,937) (4,222,779) Other operating (expenses) income 11 (1,794,540) (1,589,675) Intangible assets amortization 40 (238,715) (130,208) Impairment release (charges) for credit losses 12 (1,435,460) (3,076,023) Profit before income tax 16,537,441 13,052,594 Income tax expense 13 (4,639,364) (3,625,579) Deferred tax assets 31 - (Liabilities) 13 (94,522) 128,740 Net profit for the period 11,803,555 9,555,755 Earning per share 14 Basic 7.33 5.94 Diluted 7.28 5.89 Hisham Ezz Al-Arab Chairman and Managing Director Separate statement of other comprehensive income for the period ended December 31, 2019 Notes Dec. 31, 2019 Dec. 31, 2018 EGP Thousands EGP Thousands Net profit for the period 11,803,555 9,555,755 Other comprehensive income items that will not be reclassified to the Profit or Loss: Net change in fair value of debt instruments measured at fair value through other comprehensive income 212,967 57,026 Other comprehensive income items that is or may be reclassified to the profit or loss: Net change in fair value of debt instruments measured at fair value through other comprehensive income 5,944,586 (2,164,847) Expected credit loss for fair value of debt (184,921) - instruments measured at fair value through other comprehensive income Total other comprehensive income for the year 17,776,187 7,447,934 Separate cash flow for the period ended December 31, 2019 Notes Dec. 31, 2019 Dec. 31, 2018 EGP Thousands EGP Thousands Cash flow from operating activities Profit before income tax 16,537,441 13,052,594 Adjustments to reconcile net profit to net cash provided by operating activities Fixed assets depreciation 24 576,544 390,830 Impairment charge for credit losses (Loans and advances to customers) 12 1,610,878 3,076,023 Other provisions charges 29 461,869 101,501 Impairment charge for credit losses (due from banks) 12 9,503 - Impairment charge for credit losses (financial investments) 12 (184,921) - Impairment charge for other assets 23 (93,313) 316,763 Exchange revaluation differences for financial assets at fair value through OCI 20 1,593,030 (102,991) Intangible assets amortization 238,715 130,208 Impairment charge financial assets at fair value through OCI 21 - 39,561 Exchange differences in financial investments in subsidiary 22 4,680 (465) Utilization of other provisions 29 (28,135) (2,114) Other provisions no longer used 29 (6,910) (17,670) Exchange differences of other provisions 29 (110,062) (2,269) (Profits) losses from selling property, plant and equipment 11 (1,439) (1,045) (Profits) losses from selling financial investments 21 (497,894) (441,628) Shares based payments 464,539 408,346 Operating profits before changes in operating assets and liabilities 20,574,525 16,947,644 Net decrease (increase) in assets and liabilities Due from banks 15 (8,870,547) (13,661,577) Treasury bills and other governmental notes 41 - 4,640,524
Financial assets at fair value through P&L 21 2,318,924 4,557,492 Derivative financial instruments 20 (2,910) (66,141) 18 - Loans and advances to banks and customers 19 (14,533,328) (21,255,952) Other assets 42 162,502 (2,263,465) Due to banks 25 4,550,788 5,381,901 Due to customers 26 19,143,183 34,573,102 Income tax obligations paid (3,625,579) (2,778,973) Other liabilities 28 1,894,934 1,025,022 Net cash provided from operating activities 21,612,492 27,099,577 Cash flow from investing activities Payment for purchases of subsidiary and associates - (10,575) Payment for purchases of property, plant, equipment and branches constructions (1,301,415) (874,708) Proceeds from selling property, plant and equipment 11 1,439 1,045 Proceeds from redemption of financial assets at amortized cost 21 43,937,957 5,532,271 Payment for purchases of financial assets at amortized cost 21 (76,516,842) (33,995,313) Payment for purchases of financial assets at fair value through OCI 21 (50,954,311) (12,670,761) Proceeds from selling financial assets at fair value through OCI 54,855,966 2,059,341 Net cash used in investing activities (29,977,206) (39,958,700) Cash flow from financing activities Increase (decrease) in long term loans 27 (448,783) 46,793 Dividend paid (2,700,544) (2,143,177) Capital increase 105,413 50,315 Net cash used in (provided from) financing activities (3,043,914) (2,046,069) Net increase (decrease) in cash and cash equivalent during the year (11,408,628) (14,905,192) Beginning balance of cash and cash equivalent 34,303,645 49,208,837 Cash and cash equivalent at the end of the year 22,895,017 34,303,645 Cash and cash equivalent comprise: Cash and balances with central bank 15 28,273,962 20,058,974 Due from banks 16 28,370,183 46,518,892 Treasury bills and other governmental notes 17 27,634,062 41,999,252 Obligatory reserve balance with CBE 15 (22,397,310) (13,526,763) Due from banks with maturities more than three months (10,593,903) (10,733,386) Treasury bills with maturity more than three months (28,391,977) (50,013,324) Total cash and cash equivalent 22,895,017 34,303,645 Separate statement of changes in shareholders' equity for the year ended December 31, 2018 Dec. 31, 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 EGP Thousands 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 year - - - - - - - - - 9,555,755 - 9,555,755 Net unrealised gain/(loss) on financial assets at fair value through OCI - - - - - - (2,107,821) - - - - (2,107,821) Transferred (from) to bank risk reserve - - - - - - - 689 - (689) - - Cost of employees stock ownership plan (ESOP) - - - - - - - - - - 408,346 408,346 Ending 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 ----------- ---------- ----------- --------- -------- -------- ------------ -------- ---------- ------------ ---------- ------------ ------- -------- Separate statement of changes in shareholders' equity for the year ended December 31, 2019 Dec. 31, 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 EGP Thousands 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 3,022,495 - (2,917,082) - - - - - - - - 105,413 Transferred to reserves - 477,736 6,615,296 - - 1,045 - - - (6,854,370) (239,707) - Dividend paid - - - - - - - - - (2,700,544) - (2,700,544) Net profit for the year - - - - - - - - - 11,803,555 - 11,803,555 Net unrealised gain/(loss) on financial assets at fair value through OCI - - - - - - 6,157,553 - - - - 6,157,553 Transferred (from) to bank risk reserve - - - - - - - 841 - (841) - - Provision for impairment of debt instruments investments - - - - - (184,921) - - - - (184,921) Cost of employees stock ownership plan (ESOP) - - - - - - - - - - 464,539 464,539 Ending 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 ----------- ---------- ------------ ---------- --------- -------- ------------ -------- ------------ ------------ ---------- ------------ 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* ( 16 The initial application impact (disclosure in page number** The initial application impact is LE 109,697 thousand and the tax effect is LE 7,554 thousand (disclosure in page number 19)
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February 04, 2020 02:00 ET (07:00 GMT)
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