3rd Quarter 2022 Results (Separate)
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Commercial International Bank (Egypt) S.A.E. | ||||||||||||||||||||||||||||||||||||
Condensed Separate Financial Statements | ||||||||||||||||||||||||||||||||||||
September 30, 2022 Click on, or paste the following link into your web browser, to view the associated PDF document http://www.rns-pdf.londonstockexchange.com/rns/2910F_1-2022-11-3.pdf | ||||||||||||||||||||||||||||||||||||
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Condensed Separate Interim Income Statement for the period ended September 30, 2022
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Condensed Separate Interim Cash Flows for the period ended September 30, 2022
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| Notes | Sep. 30, 2022 |
| Sep. 30, 2021 | |||||
EGP Thousands |
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Cash flow from operating activities |
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Profit before income tax | 17,787,463 |
| 13,998,067 | ||||||
Adjustments to reconcile profits to net cash provided by operating activities |
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Fixed assets depreciation |
| 16 | 654,220 |
| 636,413 | ||||
Impairment charge for credit losses (Loans and advances to customers and banks) |
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| (16,255) |
| 1,385,835 | ||||
Other provisions charges |
| 21 | 1,803,863 |
| 190,858 | ||||
Impairment charge for credit losses (due from banks) |
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| 849 |
| 38,181 | ||||
Impairment (Released) charge for credit losses (financial investments) | 278,012 |
| (98,246) | ||||||
Impairment (Released) charge for other assets | (277,768) |
| 31,975 | ||||||
Exchange revaluation differences for financial assets at fair value through OCI and AC | (3,745,045) |
| 40,050 | ||||||
Utilization of other provisions | 21 | (1,857) |
| (44,978) | |||||
Other provisions no longer used |
| 21 | (101) |
| (12,255) | ||||
Exchange differences of other provisions |
| 21 | 333,425 |
| (13,722) | ||||
Losses (profits) from selling property and equipment |
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| (2,192) |
| (2,124) | ||||
Losses (profits) from selling financial investments at fair value through OCI |
| 13 | (1,096,850) |
| (643,467) | ||||
Shares based payments |
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| 579,653 |
| 477,644 | ||||
Impairment (Released) charges of investments in associates |
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| - |
| 9,359 | ||||
Operating profits before changes in operating assets and liabilities | 16,297,417 |
| 15,993,590 | ||||||
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Net decrease (increase) in assets and liabilities |
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Due from banks | 845,633 |
| (272,238) | ||||||
Financial assets at fair value through P&L | 13 | 240,987 |
| 153,260 | |||||
Derivative financial instruments |
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| (947,116) |
| (24,448) | ||||
Loans and advances to banks and customers |
| 11 - 12 | (33,520,003) |
| (20,847,787) | ||||
Other assets |
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| 1,242,254 |
| (1,631,518) | ||||
Due to banks |
| 17 | 841,125 |
| (7,272,811) | ||||
Due to customers |
| 18 | 91,483,674 |
| 62,999,029 | ||||
Current income tax obligations paid |
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| (2,305,911) |
| (2,152,739) | ||||
Other liabilities |
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| (310,752) |
| 1,414,946 | ||||
Net cash used in (generated from) operating activities |
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| 73,867,308 |
| 48,359,284 | ||||
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Cash flow from investing activities |
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Payments for investment in subsidiaries and associates. | (59,900) |
| (158,360) | ||||||
Payment for purchases of property, equipment and branches constructions | (542,743) |
| (669,801) | ||||||
Proceeds from selling property and equipment | 2,192 |
| 2,124 | ||||||
Proceeds from redemption of financial assets at amortized cost | 6,569,803 |
| 4,725,376 | ||||||
Payment for purchases of financial assets at amortized cost | (18,239,332) |
| (3,844) | ||||||
Payment for purchases of financial assets at fair value through OCI | (114,918,927) |
| (207,918,546) | ||||||
Proceeds from selling financial assets at fair value through OCI | 73,463,225 |
| 146,303,855 | ||||||
Net cash generated from (used in) investing activities | (53,725,682) |
| (57,719,196) | ||||||
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| Condensed Separate Interim Cash Flows for the period ended September 30, 2022 (Cont.)
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Sep. 30, 2022 |
| Sep. 30, 2021 |
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EGP Thousands |
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Cash flow from financing activities |
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Other loans | 1,116,344 |
| (2,113,845) |
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Dividends paid | (4,410,322) |
| (1,360,652) |
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Issued debt instruments | 382,977 |
| 1,556,032 |
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Capital increase | 122,716 |
| - |
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Net cash generated from (used in) financing activities | (2,788,285) |
| (1,918,465) |
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Net (decrease) increase in cash and cash equivalent during the period | 17,353,341 |
| (11,278,377) |
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Beginning balance of cash and cash equivalent | 60,891,899 |
| 75,965,247 |
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Cash and cash equivalent at the end of the period | 78,245,240 |
| 64,686,870 |
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Cash and cash equivalent comprise: |
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Cash and balances at the central bank | 43,776,754 |
| 33,207,606 |
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Due from banks | 90,419,482 |
| 72,015,406 |
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Treasury bills and other governmental notes | 10 | 87,119,766 |
| 65,654,913 |
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Obligatory reserve balance with CBE |
| (38,022,832) |
| (27,183,002) |
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Due from banks with maturities more than three months | (22,949,758) |
| (16,980,376) |
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Treasury bills with maturity more than three months | (82,098,172) |
| (62,027,677) |
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Total cash and cash equivalent | 78,245,240 |
| 64,686,870 |
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Condensed Separate Interim statement of changes in shareholders' equity for the period ended September 30, 2021
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Sep. 30, 2021 | Issued and paid up capital | Legal reserve | General reserve | General risk reserve | Capital reserve | Reserve for financial assets at fair value through OCI | Banking risks reserve | Retained earnings | Reserve for employee stock ownership plan | Total | |||||
EGP Thousands | |||||||||||||||
Beginning balance | 14,776,813 | 2,778,135 | 24,765,658 | 1,549,445 | 14,906 | 3,970,987 | 6,423 | 10,477,611 | 1,064,648 | 59,404,626 | |||||
Capital increase | 4,925,605 | - | (4,925,605) | - | - | - | - | - | - | - | |||||
Transferred to reserves | - | 514,939 | 8,420,479 | - | 1,094 | - | - | (8,936,512) | - | - | |||||
Dividend paid | - | - | - | - | - | - | - | (1,360,652) | - | (1,360,652) | |||||
Net profit of the period | - | - | - | - | - | - | - | 9,894,685 | - | 9,894,685 | |||||
Transferred from reserve of financial assets at fair value through OCI | - | - | - | - | - | (177,362) | - | 177,362 | - | - | |||||
Transferred from previous years' outstanding balances | - | - | - | - | - | - | - | 8,333 | - | 8,333 | |||||
Net unrealised gain/(loss) on financial assets at fair value through OCI after tax | - | - | - | - | - | (2,374,495) | - | - | - | (2,374,495) | |||||
Transferred (from) to bank risk reserve | - | - | - | - | - | - | 2,718 | (2,718) | - | - | |||||
Effect of ECL in fair value of debt instruments measured at fair value through OCI | - | - | - | - | - | (98,246) | - | - | - | (98,246) | |||||
Cost of employees stock ownership plan (ESOP) | - | - | - | - | - | - | - | - | 477,644 | 477,644 | |||||
Ending balance | 19,702,418 | 3,293,074 | 28,260,532 | 1,549,445 | 16,000 | 1,320,884 | 9,141 | 10,258,109 | 1,542,292 | 65,951,895 | |||||
Condensed Separate Interim statement of changes in shareholders' equity for the period ended September 30, 2022
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Sep. 30, 2022 | Issued and paid up capital | Legal reserve | General reserve | General risk reserve | Capital reserve | Reserve for financial assets at fair value through OCI | Banking risks reserve | Retained earnings | Reserve for employee stock ownership plan | Total |
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| EGP Thousands |
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Beginning balance | 19,702,418 | 3,293,074 | 28,260,532 | 1,549,445 | 16,000 | 639,231 | 9,141 | 13,783,935 | 1,674,392 | 68,928,168 |
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Capital increase | 10,122,716 | - | (10,000,000) | - | - | - | - | - | - | 122,716 |
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Transferred to reserves | - | 670,872 | 8,836,326 | - | 2,947 | - | - | (9,007,223) | (502,922) | - |
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Dividend paid | - | - | - | - | - | - | - | (4,410,322) | - | (4,410,322) |
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Net profit of the period | - | - | - | - | - | - | - | 12,205,922 | - | 12,205,922 |
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Transferred to RE from financial assets at fair value through OCI | - | - | - | - | - | (4,128) | - | 4,128 | - | - |
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Transferred from previous years' outstanding balances | - | - | - | - | - | - | - | - | - | - |
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Net unrealised gain/(loss) on financial assets at fair value through OCI after tax | - | - | - | - | - | (13,128,801) | - | - | - | (13,128,801) |
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Transferred (from) to banking risk reserve | - | - | - | - | - | - | 2,840 | (2,840) | - | - |
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Effect of ECL in fair value of debt instruments measured at fair value through OCI | - | - | - | - | - | 233,717 | - | - | - | 233,717 |
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Cost of employees stock ownership plan (ESOP) | - | - | - | - | - | - | - | - | 579,653 | 579,653 |
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Ending balance | 29,825,134 | 3,963,946 | 27,096,858 | 1,549,445 | 18,947 | (12,259,981) | 11,981 | 12,573,600 | 1,751,123 | 64,531,053 |
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