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Company Announcements

RNS Number : 4195I
Commercial Intnl Bank (Egypt) SAE
13 May 2025
 



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Commercial International Bank (Egypt) S.A.E.

Separate Financial Statements

March 31, 2025

 

 
















 









 





0

Notes

Mar. 31, 2025

 

Dec. 31, 2024



 


 

Assets

 

 

 


Cash and balances at the central bank

9

67,709,656

 

136,165,920

Due from banks

10

314,144,761

 

270,089,441

Loans and advances to banks, net

12

16,109,873

 

9,555,410

Loans and advances to customers, net

13

361,830,507

 

340,955,698

Derivative financial instruments


930,893

 

819,711

Financial investments

 

 

 


- Financial Assets at Fair Value through OCI

14

259,396,282

 

233,029,903

- Financial Assets at Amortized cost

14

188,018,472

 

167,276,956

Investments in subsidiaries and associates

15

853,165

 

871,525

Non-current assets held for sale

28

159,828

 

159,828

Other assets

16

40,366,933

 

44,175,232

Deferred tax assets


2,536,325

 

2,337,304

Property and equipment

17

4,597,989


3,881,620

Total assets

 

1,256,654,684

 

1,209,318,548

Liabilities and equity

 

 

 


Liabilities

 

 

 


Due to banks

18

4,051,736

 

2,317,715

Due to customers

19

996,119,565

 

967,895,387

Derivative financial instruments


78,314

 

100,571

Current income tax liabilities


5,565,862

 

18,327,968

Other liabilities

20

45,946,585

 

21,347,499

Issued debt instruments

21

5,044,951

 

5,067,781

Other loans


23,948,624

 

23,962,389

Other provisions

22

19,032,774


18,613,060

Total liabilities

 

1,099,788,411


1,057,632,370

Equity

 

 

 


Issued and paid capital


30,431,580

 

30,431,580

Reserves


87,850,844

 

63,125,912

Reserve for employee stock ownership plan (ESOP)


2,184,420

 

1,868,235

Retained earnings*

 

36,399,429


56,260,451

Total equity and net profit for the period / year

 

156,866,273


151,686,178

Total liabilities and equity

 

1,256,654,684


1,209,318,548

 


 

##







The accompanying notes are an integral part of these financial statements.

 




(Review report attached)

 




*Including net profit for the period

 




















Islam Zekry

Hisham Ezz Al-Arab

Group CFO & Executive Board Member

CEO & Executive Board Member

 






 

 

 



 

 


 

 

 


 

 

 

Condensed Separate Interim Income Statement for the period ended March 31, 2025

 


Last 9 Months

 


Last 9 Months


Notes

Mar. 31, 2025

 


Mar. 31, 2024

 


 

 





 

 



Interest and similar income


52,299,641

 


36,544,341

Interest and similar expense

 

(27,003,143)



(17,784,185)

Net interest income

 

25,296,498



18,760,156

 


 

 



Fee and commission income


3,510,324

 


2,684,283

Fee and commission expense

 

(1,586,144)



(1,118,950)

Net fee and commission income

 

1,924,180



1,565,333

 


 

 



Dividend income


12,751

 


610

Net trading income

6

641,395

 


16,202,679

Profits (Losses) on financial investments 

14.1

376,684

 


224,271

Administrative expenses


(3,748,977)

 


(2,840,462)

Other operating income (expenses)

7

(1,735,421)

 


(14,923,188)

Impairment release (charges) for credit losses

 

(68,528)



(1,482,187)

Profit before income tax

 

22,698,582



17,507,212

 


 

 



Income tax expense

26

(6,514,216)

 


(5,722,492)

Deferred tax assets (Liabilities)

26

411,246



161,877

Net profit for the period

 

16,595,612

 


11,946,597

 


 

 



Earnings per share

8

 

 



Basic


4.83

 


3.47

Diluted


4.79

 


3.45



 

 



























0

 














Islam Zekry

Hisham Ezz Al-Arab

Group CFO & Executive Board Member

CEO & Executive Board Member

 











 

 

 

 

 














 

 

 

 

 

 

Condensed Separate Interim Statement of Comprehensive Income for the period ended March 31, 2025

 

 

 

 

Last 9 Months

Last 9 Months


Mar. 31, 2025

 

Mar. 31, 2024

 


 

 


 

Net profit for the period

16,595,612


11,946,597

 

 

 

 


 

Net change on financial assets at fair value through comprehensive income after tax

2,141,325

 

1,977,715

 

Effect of ECL on fair value of debt instruments measured at fair value through comprehensive income

841,407


745,406

 

Total comprehensive income for the period

19,578,344

 

14,669,718

 


 

 

 


 

 

 

 

 

 

 

 

 

Condensed Separate Interim Cash Flows for the period ended March 31, 2025

 

 

 

 


 

 

 


 

 

 


Notes

Mar. 31, 2025

Mar. 31, 2024

 


 


Cash flow from operating activities

 

 


Profit before income tax

 

22,698,582

17,507,212

Adjustments to reconcile profits to net cash provided by operating  activities

 

 


Fixed assets depreciation

17

353,476

261,427

Impairment release/charge for credit losses (Loans and advances to customers and banks)


(1,099,420)

1,772,387

Other provisions release/charge

22

317,074

40,759

Impairment release/charge for credit losses (due from banks)


144,661

(53)

Impairment release/charge  for credit losses (financial investments)


1,023,287

(290,147)

Impairment release/charge for other assets


-

(4,782)

Exchange revaluation differences for financial assets at fair value through OCI and AC


212,785

(17,328,576)

Revaluation differences impairment charge for Financial Assets at Fair value through OCI


(13,337)

1,130,412

Revaluation differences impairment charge for Financial Assets at Amortized cost


1,240

95,225

Revaluation differences impairment charge for due from banks


-

101

Net utilized / recovered of other provisions

22

(520)

(4,517)

Exchange revaluation differences of other provisions

22

103,160

3,574,794

Profits/losses from selling property and equipment


(6,006)

-

Profits/losses from selling financial investments at fair value through OCI

14.1

(195,124)

(224,271)

Profits/losses from selling investments in associates

14.1

(181,560)

-

Share based payments

 

316,185

300,000

Operating profits before changes in operating assets and liabilities

 

23,674,483

6,829,971

 


 


Net decrease / increase in assets and liabilities

 

 


Due from banks


121,695,741

42,289,034

Financial assets at fair value through P&L


-

(974,297)

Derivative financial instruments


(142,036)

154,638

Loans and advances to banks and customers


(26,329,852)

(36,747,889)

Other assets


6,045,337

(5,850,432)

Due to banks

18

1,734,021

(6,855,319)

Due to customers

19

28,224,178

117,099,122

Current income tax obligations paid


(948,354)

(276,723)

Other liabilities

 

5,716,835

1,851,912

Net cash generated from (used in) operating activities

 

159,670,353

117,520,017

 


 


Cash flow from investing activities

 

 


Proceeds from sale of investments in associates


226,698

4,782

Payments for investment in subsidiaries


(140,000)

-

Payments for purchases of property, equipment and branches construction


(3,193,660)

(366,618)

Proceeds from selling property and equipment


6,006

-

Proceeds from redemption of financial assets at amortized cost


2,537,401

285,507

Payments for purchases of financial assets at amortized cost


(23,457,385)

(53,240,480)

Payments for purchases of financial assets at fair value through OCI


(29,004,342)

(26,284,875)

Proceeds from selling financial assets at fair value through OCI


6,057,967

26,380,625

Net cash generated from (used in) investing activities

 

(46,967,315)

(53,221,059)

 






Mar. 31, 2025

Mar. 31, 2024

 


 


Cash flow from financing activities

 

 


Other loans


(13,765)

6,700,881

Dividends paid


(14,160,152)

(5,078,792)

Issued debt instruments


(22,830)

1,626,167

Net cash generated from (used in) financing activities


(14,196,747)

3,248,256

 


 


Net (decrease) increase in cash and cash equivalent during the period


98,506,291

67,547,214

Beginning balance of cash and cash equivalent


227,028,744

233,912,193

Cash and cash equivalent at the end of the period

 

325,535,035

301,459,407

 


 


Cash and cash equivalent comprise:

 

 


Cash and balances at the central bank

9

67,709,656

36,542,863

Due from banks


314,289,639

291,980,200

Treasury bills and other governmental notes

11

115,964,828

119,754,167

Obligatory reserve balance with CBE


(43,718,398)

(19,383,018)

Due from banks with maturity more than three months


(14,867,792)

(7,554,480)

Treasury bills and other governmental notes with maturity more than three months

 

(113,842,898)

(119,880,325)

Total cash and cash equivalent

 

325,535,035

301,459,407



 

 


 

 

 


 

 

 

Condensed Separate Interim statement of  changes in shareholders' equity

 

Issued and paid 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

Mar. 31, 2024

 










Beginning Balance at 1 January 2024

    30,195,010

    4,770,354

    39,840,707

   1,549,445

       21,155

      (16,808,265)

      15,230

    29,230,360

       1,486,010

          90,300,006

Transferred to reserves

                    -  

    1,438,320

    21,958,960

                 -  

         1,663

                       -  

              -  

   (23,398,943)

                     -  

                          -  

Dividend paid

                    -  

                 -  

                    -  

                 -  

                -  

                       -  

              -  

     (5,366,429)

                     -  

          (5,366,429)

Net profit for the period

                    -  

                 -  

                    -  

                 -  

                -  

                       -  

              -  

    11,946,597

                     -  

          11,946,597

Net change on financial assets at fair value through OCI after tax

                    -  

                 -  

                    -  

                 -  

                -  

         1,977,715

              -  

                    -  

                     -  

            1,977,715

Transferred (from) to banking risk reserve

                    -  

                 -  

                    -  

                 -  

                -  

                       -  

        2,694

            (2,694)

                     -  

                          -  

Effect of ECL in fair value of debt instruments measured at fair value through OCI

                    -  

                 -  

                    -  

                 -  

                -  

             745,406

              -  

                    -  

                     -  

               745,406

Cost of employees stock ownership plan (ESOP)

                    -  

                 -  

                    -  

                 -  

                -  

                       -  

              -  

                    -  

          300,000

               300,000

 Balance at 31 March 2024

    30,195,010

    6,208,674

    61,799,667

   1,549,445

       22,818

      (14,085,144)

      17,924

    12,408,891

       1,786,010

          99,903,295

 












 

Issued and paid 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

Mar. 31, 2025

 

 

 

 

 

 

 

 

 

 

Beginning Balance at 1 January 2025

    30,431,580

    6,208,674

    62,422,792

   1,549,445

       22,818

        (7,095,741)

      17,924

    56,260,451

       1,868,235

        151,686,178

Transferred to reserves

                   -  

    2,771,284

    18,971,298

                 -  

         2,246

                       -  

              -  

   (21,744,828)

                     -  

                          -  

Dividends paid

                   -  

                 -  

                   -  

                 -  

                -  

                       -  

              -  

   (14,714,434)

                     -  

        (14,714,434)

Net profit for the period

                   -  

                 -  

                   -  

                 -  

                -  

                       -  

              -  

    16,595,612

                     -  

          16,595,612

Net change on financial assets at fair value through OCI after tax

                   -  

                 -  

                   -  

                 -  

                -  

         2,141,325

              -  

                    -  

                     -  

            2,141,325

Transferred (from) to banking risk reserve

                   -  

                 -  

                   -  

                 -  

                -  

                       -  

      (2,628)

              2,628

                     -  

                          -  

Effect of ECL in fair value of debt instruments measured at fair value through OCI

                   -  

                 -  

                   -  

                 -  

                -  

             841,407

              -  

                    -  

                     -  

               841,407

Cost of employees stock ownership plan (ESOP)

                   -  

                 -  

                   -  

                 -  

                -  

                       -  

              -  

                    -  

          316,185

               316,185

 Balance at 31 March 2025

    30,431,580

    8,979,958

    81,394,090

   1,549,445

       25,064

        (4,113,009)

      15,296

    36,399,429

       2,184,420

        156,866,273


 

 

 


 

 

 


 

 

 



 

 


 

 

 


 

 

 


 

 

 



 

 



 

 



 

 



 

 


 

 

 


 

 

 





 





 


 



 


 



 


 



 





 





 



 



 


 

 

 

 




 





 












 



 

 

 




 

 



 

 

 

 


 














 







 

 

 





 


 

 




 

 

 








































































 

 

 

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