REG - Commercial Int Bank - Consolidated Financial Position at March 31.2025
13/05/2025 07:00
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RNS Number : 4189I Commercial Intnl Bank (Egypt) SAE 13 May 2025
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Condensed Consolidated Interim Statement of Financial Position as at March 31, 2025
Notes Mar. 31, 2025 Dec. 31, 2024
Assets
Cash and balances at the central bank 9 68,810,514 136,531,020
Due from banks 10 314,305,928 270,829,834
Loans and advances to banks, net 12 16,109,873 9,555,410
Loans and advances to customers, net 13 364,274,475 343,542,674
Derivative financial instruments 930,893 819,711
Financial investments
- Financial Assets at Fair Value through OCI 14 261,161,290 234,512,167
- Financial Assets at Amortized cost 14 189,243,425 168,118,219
Investments in associates 15 35,384 98,193
Other assets 16 40,510,451 44,282,773
Deferred tax assets 2,804,720 2,685,331
Property and equipment 17 4,698,499 3,997,929
Total assets 1,262,885,452 1,214,973,261
Liabilities and equity
Liabilities
Due to banks 18 4,321,002 2,034,885
Due to customers 19 1,000,617,577 972,595,958
Non-current liabilities held for sale 30.2 1,397 1,397
Derivative financial instruments 78,314 100,571
Current income tax liabilities 5,565,862 18,327,968
Other liabilities 20 46,045,132 21,441,169
Issued debt instruments 21 5,044,951 5,067,781
Other loans 23,948,624 23,962,389
Other provisions 22 19,045,051 18,621,822
Total liabilities 1,104,667,910 1,062,153,940
Equity
Issued and paid capital 30,431,580 30,431,580
Reserves 88,394,260 63,544,579
Reserve for employee stock ownership plan (ESOP) 2,184,420 1,868,235
Retained earnings* 36,940,838 56,791,883
Total equity and net profit for the period / year 157,951,098 152,636,277
Non-Controlling Interest 266,444 183,044
Total NCI, equity and net profit for the period / year 158,217,542 152,819,321
Total liabilities and equity 1,262,885,452 1,214,973,261
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 Consolidated Interim Income Statement for the period ended March 31,
2025
Notes Mar. 31, 2025 Mar. 31, 2024
Interest and similar income 52,535,156 36,652,802
Interest and similar expense (27,139,272) (17,852,691)
Net interest income 25,395,884 18,800,111
Fee and commission income 3,522,513 2,685,963
Fee and commission expense (1,587,691) (1,118,912)
Net fee and commission income 1,934,822 1,567,051
Dividend income 12,751 610
Net trading income 6 644,549 16,202,148
Profits (Losses) on financial investments 14.1 472,532 224,271
Administrative expenses (3,932,425) (2,928,640)
Other operating income (expenses) 7 (1,742,230) (14,975,056)
Impairment release (charges) for credit losses (84,032) (1,421,114)
Bank's share in the profits / losses of associates (297) 4,931
Profit before income tax 22,701,554 17,474,312
Income tax expense 27 (6,479,828) (5,926,187)
Deferred tax assets (Liabilities) 27 411,443 376,765
Net profit for the period 16,633,169 11,924,890
Non-Controlling Interest 1,394 456
Bank's shareholders 16,631,775 11,924,434
Earnings per share 8
Basic 4.83 3.47
Diluted 4.79 3.45
Islam Zekry Hisham Ezz Al-Arab
Group CFO & Executive Board Member CEO & Executive Board Member
Condensed Consolidated 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 16,633,169 11,924,890
Net change on financial assets at fair value through comprehensive income 2,491,322 1,915,786
after tax
Cumulative foreign currencies translation differences (169,708) 831,452
Effect of ECL on fair value of debt instruments measured at fair value through 841,687 744,813
comprehensive income
Total comprehensive income for the period 19,796,470 15,416,941
As follows:
Bank's shareholders 19,713,070 15,416,485
Non-Controlling Interest 83,400 456
Total comprehensive income for the period 19,796,470 15,416,941
Condensed Consolidated 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 22,701,554 17,474,312
Adjustments to reconcile profits to net cash provided by operating
activities
Fixed assets depreciation 17 773,002 261,427
Impairment release/charge for credit losses (Loans and advances to customers (1,080,606) 1,712,500
and banks)
Other provisions release/charge 22 320,589 41,587
Impairment release/charge for credit losses (due from banks) 141,071 (646)
Impairment release/charge for credit losses (financial investments) 1,023,567 (290,740)
Impairment release/charge for other assets - (4,782)
Exchange revaluation differences for financial assets at fair value through 212,785 (17,328,576)
OCI and AC
Revaluation differences impairment charge for Financial Assets at Fair value (13,267) 1,130,412
through OCI
Revaluation differences impairment charge for Financial Assets at Amortized 1,240 95,225
cost
Revaluation differences impairment charge for due from banks (18) 1,393
Net utilized / recovered of other provisions 22 (520) (4,517)
Exchange revaluation differences of other provisions 22 103,160 3,574,589
Profits/losses from selling property and equipment 7 (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 (277,408) -
Share based payments 316,185 300,000
Bank's share in the profits / losses of associates 297 (4,931)
Operating profits before changes in operating assets and liabilities 24,020,501 6,732,982
Net decrease / increase in assets and liabilities
Due from banks 123,055,498 41,887,372
Financial assets at fair value through P&L - (974,297)
Derivative financial instruments (142,036) 157,890
Loans and advances to banks and customers (26,205,658) (37,541,091)
Other assets 6,009,359 (5,893,831)
Non-current assets held for sale - (244)
Due to banks 18 2,286,117 (6,928,939)
Due to customers 19 28,021,619 118,843,058
Current income tax obligations paid (913,966) (480,418)
Non-current liabilities held for sale - 1,297
Other liabilities 5,721,712 1,820,664
Net cash generated from (used in) operating activities 161,853,146 117,624,443
Cash flow from investing activities
Proceeds from sale of investments in associates 226,698 4,782
Payments for purchases of property, equipment and branches construction (3,597,387) (437,370)
Proceeds from selling property and equipment 6,006 -
Proceeds from redemption of financial assets at amortized cost 2,579,713 285,507
Payments for purchases of financial assets at amortized cost (23,883,457) (53,615,996)
Payments for purchases of financial assets at fair value through OCI (29,279,247) (26,592,698)
Proceeds from selling financial assets at fair value through OCI 6,310,466 26,222,450
Net cash generated from (used in) investing activities (47,637,208) (54,133,325)
Condensed Consolidated Interim Cash flows for the period ended March 31, 2025
(Cont.)
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 100,019,191 66,739,374
Beginning balance of cash and cash equivalent 226,610,721 234,317,913
Cash and cash equivalent at the end of the period 326,629,912 301,057,287
Cash and cash equivalent comprise:
Cash and balances at the central bank 9 68,810,514 36,731,091
Due from banks 314,450,806 292,723,938
Treasury bills and other governmental notes 11 116,419,815 119,754,167
Obligatory reserve balance with central bank (43,885,546) (19,531,282)
Due from banks with maturity more than three months (14,867,792) (8,740,302)
Treasury bills and other governmental notes with maturity more than three (114,297,885) (119,880,325)
months
Total cash and cash equivalent 326,629,912 301,057,287
Condensed Consolidated Interim statement of changes in shareholders' equity
Mar. 31, 2024 Issued and paid capital Legal reserve General reserve General risk reserve Reserve for transactions under common control Capital reserve Reserve for financial assets at fair value through OCI Banking risks reserve Retained earnings Reserve for employee stock ownership plan Cumulative foreign currencies translation differences Total Shareholders' Equity Non-Controlling Interest Total
Beginning balance 30,195,010 4,770,354 39,840,707 1,550,906 (670,972) 21,155 (16,868,691) 15,230 29,993,331 1,486,010 148,353 90,481,393 160,073 90,641,466
Transferred to reserves - 1,438,320 21,958,960 - - 1,663 - - (23,398,943) - - - - -
Net profit for the period - - - - - - - - 11,924,434 - - 11,924,434 456 11,924,890
Dividends paid - - - - - - - - (5,366,429) - - (5,366,429) - (5,366,429)
Net change on financial assets at fair value through OCI after tax - - - - - - 1,915,786 - - - - 1,915,786 - 1,915,786
Transferred (from) to banking risk reserve - - - - - - - 21,718 (21,718) - - - - -
Effect of ECL in fair value of debt instruments measured at fair value through - - - - - - 744,813 - - - - 744,813 - 744,813
OCI
Cost of employees stock ownership plan (ESOP) - - - - - - - - - 300,000 - 300,000 - 300,000
Cumulative foreign currencies translation differences - - - - - - - - - - 831,452 831,452 (321) 831,131
Ending balance 30,195,010 6,208,674 61,799,667 1,550,906 (670,972) 22,818 (14,208,092) 36,948 13,130,675 1,786,010 979,805 100,831,449 160,208 100,991,657
Mar. 31, 2025 Issued and paid capital Legal reserve General reserve General risk reserve Reserve for transactions under common control Capital reserve Reserve for financial assets at fair value through OCI Banking risks reserve Retained earnings Reserve for employee stock ownership plan Cumulative foreign currencies translation differences Total Shareholders' Equity Non-Controlling Interest Total
Beginning balance 30,431,580 6,208,674 62,422,792 1,550,906 (670,972) 22,818 (7,145,283) 17,924 56,791,883 1,868,235 1,137,720 152,636,277 183,044 152,819,321
Transferred to reserves - 2,771,284 18,971,298 - - 2,246 - - (21,744,828) - - - - -
Dividends paid - - - - - - - - (14,714,434) - - (14,714,434) - (14,714,434)
Net profit for the period - - - - - - - - 16,631,775 - - 16,631,775 1,394 16,633,169
Transferred to general risk reserve - - - 26,186 - - - - (26,186) - - - - -
Net change on financial assets at fair value through OCI after tax - - - - - - 2,409,316 - - - - 2,409,316 82,006 2,491,322
Transferred (from) to banking risk reserve - - - - - - - (2,628) 2,628 - - - - -
Effect of ECL in fair value of debt instruments measured at fair value through - - - - - - 841,687 - - - - 841,687 - 841,687
OCI
Cost of employees stock ownership plan (ESOP) - - - - - - - - - 316,185 - 316,185 - 316,185
Cumulative foreign currencies translation differences - - - - - - - - - - (169,708) (169,708) - (169,708)
Ending balance 30,431,580 8,979,958 81,394,090 1,577,092 (670,972) 25,064 (3,894,280) 15,296 36,940,838 2,184,420 968,012 157,951,098 266,444 158,217,542
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