Commercial Intnl Bank (Egypt) SAE

Interim / Quarterly Report • May 13, 2025

National Storage Mechanism | Additional information

RNS Number : 4195I

Commercial Intnl Bank (Egypt) SAE

13 May 2025

Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/4195I_1-2025-5-13.pdf 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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