CIB's FY22 IFRS 9 Financial Statements
http://www.rns-pdf.londonstockexchange.com/rns/5862T_1-2023-3-20.pdf
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Consolidated Income Statement for the Year Ended December 31, 2022
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Notes | Dec. 31, 2022 | Dec. 31, 2021 |
EGP Thousands | EGP Thousands | |
 Interest and similar income |  55,723,701 |  45,078,169 |
Interest and similar expense | Â Â Â Â Â Â Â Â Â Â Â (24,828,731) | Â Â Â Â Â Â Â Â Â Â Â (20,204,272) |
Net interest income                                                              3 |           30,894,970 | 24,873,897 |
 Fee and commission income |  5,555,082 |  4,045,573 |
Fee and commission expense | Â Â Â Â Â Â Â Â Â Â Â Â Â (2,476,945) | Â Â Â Â Â Â Â Â Â Â Â Â Â (1,655,096) |
Net fee and commission income                                       4 |              3,078,137 | 2,390,477 |
Dividend income                                                                       5 |  52,411 |  59,725 |
Net trading income                                                                    6 | 2,827,922 | 774,992 |
Profits on financial investments                                               20 | 1,162,195 | 594,863 |
Administrative expenses                                                           7 | (9,460,461) | (7,787,584) |
Other operating expenses                                                          8 | (4,562,700) | (1,673,546) |
Impairment charges for credit losses                                         9 | (1,584,942) | (1,679,747) |
Bank's share in the (loss)/profit of associates                           12 |                   (19,253) |                     14,996 |
Profit before income tax from continuing operations | Â Â Â Â Â Â Â Â Â Â 22,388,279 | 17,568,073 |
Income taxes                                                                        10 |             (7,769,136) |  (5,565,599) |
 Net profit for the year |            14,619,143 |  12,002,474 |
  Attributable to: | ||
Equity holders of the parent | 14,561,381 | 12,006,925 |
Non-controlling interest | 57,762 | (4,451) |
Net Profit for the year | Â Â Â Â Â Â Â Â Â Â 14,619,143 | 12,002,474 |
Earning per share                                                                  11 | ||
Basic attributable to equity holders of the parent | 4.88 | 4.03 |
Diluted attributable to equity holders of the parent | 4.84 | 3.99 |
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The accompying notes from 1 to 42 form an integral part of these consolidated financial statements.
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Hussein Abaza
Sherif Samy
CEO & Managing director                                                                                                Chairman       Â
20- March -2023Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 20- March -2023
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Consolidated Statement of Comprehensive Income for the Year Ended December 31, 2022 | ||
Dec. 31, 2022 | Dec. 31, 2021 | |
EGP Thousands | EGP Thousands | |
Profit for the year | 14,619,143 | 12,002,474 |
Comprehensive income items that will not be reclassified to the Profit or Loss: | ||
Change in fair value of equity instruments measured at fair value through comprehensive income | 233,046 | (149,323) |
Tax impact for investments that will not be reclassified to Income Statement | (61,753) | 13,489 |
Transferred to RE from financial assets at fair value through comprehensive income | (3,436) | (177,488) |
Comprehensive income items that is or may be reclassified to the profit or loss: | ||
Change in fair value of debt instruments measured at fair value through comprehensive income | (14,691,866) | (2,181,779) |
Change in fair value from selling FVOCI financial instruments | (1,116,776) | (702,776) |
Cumulative foreign currencies translation differences | 181,324 | (4,218) |
Tax impact for OCI investment that will be reclassified to Income Statement | 1,215,530 | (109,394) |
Effect of ECL in fair value of debt instruments measured at fair value through OCI | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 455,047 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â (93,566) |
Total comprehensive income for the year | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 830,259 | Â Â Â Â Â Â Â Â Â Â Â Â 8,597,419 |
As follows: | ||
Bank's shareholders | 772,497 | 8,601,870 |
Non-controlling interest | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 57,762 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â (4,451) |
Total comprehensive income for the year | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 830,259 | Â Â Â Â Â Â Â Â Â Â Â Â 8,597,419 |
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Consolidated Statement of Financial Position as at December 31, 2022
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Notes
Dec. 31, 2021
EGP Thousands
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Assets | ||||
Cash and balances at the central bank | 13 | 47,492,549 | 43,492,248 | |
Due from banks | 14 | 133,856,720 | 80,141,769 | |
Loans and advances to banks, net | 15 | 2,978,197 | 312,216 | |
Loans and advances to customers, net | 16 | 193,599,872 | 145,575,243 | |
Financial Assets at fair value through profit or loss | 19 | 247,324 | 443,859 | |
Derivative financial instruments | 17 | 1,939,961 | 225,376 | |
Financial Assets at fair value through OCI | 19 | 208,144,247 | 197,238,721 | |
Financial Assets at amortized cost | 19 | 34,524,760 | 20,547,465 | |
Right of use assets | 23 | 1,726,082 | 1,084,585 | |
Investments in associates | 21 | 186,062 | 205,315 | |
Other assets | 22 | 14,521,427 | 11,207,128 | |
Intangible assets | 38 | 51,831 | 51,831 | |
Goodwill | 38 | 206,287 | 206,287 | |
Deferred tax assets | 10.2 | 185,745 | 456,002 | |
Property and equipment | 23 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2,405,434 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2,461,116 | |
Total assets | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 642,066,498 | 503,649,161 | ||
Liabilities and equity | ||||
Liabilities | ||||
Due to banks | 24 | 3,496,698 | 866,056 | |
Due to customers | 25 | 531,616,550 | 407,241,538 | |
Lease liabilities | 23 | 1,690,099 | 1,087,820 | |
Derivative financial instruments | 17 | 219,752 | 265,470 | |
Issued debt instruments | 18 | 2,456,607 | 1,557,263 | |
Other liabilities | 27 | 17,700,479 | 13,710,791 | |
Current Tax liability | 3,051,583 | 2,234,985 | ||
Other loans | 26 | 7,978,975 | 5,140,782 | |
Provisions | 28 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 7,067,599 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3,541,462 | |
Total liabilities | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 575,278,342 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 435,646,167 | ||
Equity | ||||
Issued and paid in capital | 29 | 29,825,134 | 19,702,418 | |
Reserves | 30 | 19,342,866 | 33,552,794 | |
Reserve for employee stock ownership plan (ESOP) | 30 | 1,895,435 | 1,674,392 | |
Retained earnings | 30 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 15,144,290 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 12,618,855 | |
Total equity attributable to equity holders of the parent | 66,207,725 | 67,548,459 | ||
Non-controlling interest | 39 | 580,431 | 454,535 | |
Total equity | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 66,788,156 | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 68,002,994 | ||
Total liabilities and equity | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 642,066,498 | 503,649,161 |
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The accompying notes from 1 to 42 form an integral part of these consolidated financial statements.
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Hussein Abaza
CEO & Managing director
20- March -2023Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
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Sherif Samy
Chairman
20- March -2023
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Consolidated Statement of Changes in Shareholders' Equity
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Dec. 31, 2021Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Issued and paid in capital
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Reserve for employee stock ownership plan (ESOP)
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Retained earnings            Reserves                      Total             Non-controlling
interest
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Total equity
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Beginning balance at 1st of Jan 2021Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 14,776,813Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,064,648Â Â Â Â Â Â Â Â Â Â Â Â Â Â 9,534,429Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 32,939,079Â Â Â Â Â Â Â Â Â Â Â Â Â Â 58,314,969Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 483,055Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 58,798,024
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Total comprehensive income                                                     -                             -                12,006,925                              -                  12,006,925                                                                                                  (4,451)                   12,002,474
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Capital increase | 4,925,605 | - | - | (4,925,605) | - | - | - | ||||||
Reserve for employee stock ownership plan (ESOP) | Â - | Â 609,744 | Â - | Â - | Â 609,744 | Â - | Â 609,744 | ||||||
Dividend | - | - | (156,389) | - | (156,389) | (24,069) | (180,458) | ||||||
Transferred to reserves | - | - | (8,766,110) | 5,539,320 | (3,226,790) | - | (3,226,790) | ||||||
Balance at 31 December 2021 | Â Â Â Â Â Â Â Â Â Â 19,702,418 | 1,674,392 | 12,618,855 | 33,552,794 | 67,548,459 | 454,535 | 68,002,994 | ||||||
Beginning balance at 1st of Jan 2022 | |||||||||||||
Total comprehensive income | |||||||||||||
Capital increase | |||||||||||||
Reserve for employee stock ownership plan (ESOP) | |||||||||||||
Dividend | |||||||||||||
Transferred to reserves | |||||||||||||
 Balance at 31 December 2022 | |||||||||||||
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