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03/13/14
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commercial intl-144a sp gdr (CMGJY) Details

Commercial International Bank (Egypt) S.A.E. provides various banking services in Egypt. The company operates through four segments: Corporate Banking, Investment Banking, Retail Banking, and Others. It offers deposit products, such as current, saving, save, and safe accounts; time deposits; certificates of deposit; and minor, youth, senior citizen, and care accounts. The company also offers auto and personal loans, overdrafts, direct debit facilities, and other credit facilities; mortgages; credit, debit, and prepaid cards; point of sale machines; and business banking, payroll, electronic banking, mutual fund investment, CIB Plus, and fund raising services. In addition, it offers foreign currency and derivative products; financial instruments trading, structured financing, corporate leasing, and merger and acquisitions advisory services; investment saving products; custody services; assets management services; CIB Wealth services; global transaction services; securitization, direct investment, and treasury services; and equity research, industry research, and economic coverage services. Commercial International Bank (Egypt) S.A.E. serves enterprises of various sizes, institutions, households, and high-net-worth individuals through approximately 125 branches and 27 units. The company was formerly known as Chase National Bank of Egypt and changed its name to Commercial International Bank (Egypt) S.A.E. in January 1987. Commercial International Bank (Egypt) S.A.E. was founded in 1975 and is headquartered in Giza, Egypt.

5,193 Employees
Last Reported Date: 02/12/14
Founded in 1975

commercial intl-144a sp gdr (CMGJY) Top Compensated Officers

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commercial intl-144a sp gdr (CMGJY) Key Developments

Commercial International Bank (Egypt) S.A.E. Reports Consolidated and Standalone Earnings Results for the Second Quarter and First Half Ended June 30, 2014

Commercial International Bank (Egypt) S.A.E. reported consolidated and standalone earnings results for the second quarter and first half ended June 30, 2014. For the quarter, on consolidated basis, the company reported net interest income of EGP 1,433 million compared to EGP 2,409.811 million a year ago. Net profit before tax was EGP 1,449 million compared to EGP 1,090 million a year ago. Net profit for the period was EGP 932 million compared to EGP 671 million a year ago. ROAE was 30% compared to 25.6% a year ago. ROAA was 3% compared to 2.59% a year ago. For the first half, on consolidated basis, the company reported interest and similar income of EGP 5,265.020 million compared to EGP 4,508.235 million a year ago. Net interest income was EGP 2,802.091 million compared to EGP 2,409.811 million a year ago. Net profit before tax was EGP 2,598.781 million compared to EGP 1,999.111 million a year ago. Net profit for the period was EGP 1,738.043 million compared to EGP 1,329.124 million a year ago. Net profit for the bank shareholders was EGP 1,737.322 million compared to EGP 1,328.842 million a year ago. Diluted EPS was EGP 1.51 compared to EGP 1.29 a year ago. Net cash provided from operating activities was EGP 8,856.435 million compared to EGP 3,588.839 million a year ago. Purchases of property, plant and equipment were EGP 122.742 million compared to EGP 374.266 million a year ago. ROAE was 29.4% compared to 26% a year ago. ROAA was 2.89% compared to 2.66% a year ago. For the quarter, on standalone basis, the company reported net interest income of EGP 1,434 million compared to EGP 1,271 million a year ago. Net profit before tax was EGP 1,395 million compared to EGP 1,085 million a year ago. Net profit for the period was EGP 884 million compared to EGP 669 million a year ago. ROAE was 28.2% compared to 24.4% a year ago. ROAA was 2.86% compared to 2.58% a year ago. For the first half, on standalone basis, the company reported interest and similar income of EGP 5,268.734 million compared to EGP 4,503.578 million a year ago. Net interest income was EGP 2,805.823 million compared to EGP 2,405.818 million a year ago. Net profit before tax was EGP 2,516.986 million compared to EGP 1,990.714 million a year ago. Net profit for the period was EGP 1,663.003 million compared to EGP 1,323.951 million a year ago. Diluted EPS was EGP 1.59 compared to EGP 1.29 a year ago. Net cash provided from operating activities was EGP 8,722.182 million compared to EGP 3,530.477 million a year ago. Purchases of property, plant and equipment were EGP 122.003 million compared to EGP 367 million a year ago. ROAE was 27.8% compared to 26% a year ago. ROAA was 2.77% compared to 2.64% a year ago.

Commercial International Bank (Egypt) S.A.E. Reports Unconsolidated Earnings Results for the First Half Ended June 30, 2014

Commercial International Bank (Egypt) S.A.E. reported unconsolidated earnings results for the first half ended June 30, 2014. For the period, the company reported interest and similar income of EGP 5,268.734 million compared to EGP 4,503.578 million a year ago. Net interest income was EGP 2,805.823 million compared to EGP 2,405.818 million a year ago. Net profit before tax was EGP 2,516.986 million compared to EGP 1,990.714 million a year ago. Net profit for the period was EGP 1,663.003 million compared to EGP 1,323.951 million a year ago. Diluted EPS was EGP 1.59 compared to EGP 1.29 a year ago. Net cash provided from operating activities was EGP 8,722.182 million compared to EGP 3,530.477 million a year ago. Purchases of property, plant and equipment were EGP 122.003 million compared to EGP 367 million a year ago.

Winvest Capital Reportedly Places Bid For Alex Conferta

Winvest Capital for Development and Investment made an open bid to acquire a majority stake in Alex Conferta for Paper Industries, Winvest Capital said in a statement posted on the bourse website. Al Mal newspaper reported that Winvest received preliminary approval to purchase up to 40% equity stake in Alex Conferta from Al Baraka Bank Egypt (CASE:SAUD), Commercial International Bank (Egypt) S.A.E. (CASE:COMI), Arab Moltaka Investments Company (CASE:AMIA) and National Bank of Kuwait - Egypt (CASE:NBKE). While there are ongoing negotiations for the acquisition of a further 40% stake owned by Alex Conferta's principle shareholder Antoine El Shaer.

 

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CMGJY Competitors

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Arab Bank PLC 7.78 JOD -0.10
Arab Banking Corp/Bahrain $0.74 USD 0.00
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CMGJY

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Valuation CMGJY Industry Range
Price/Earnings 15.6x
Price/Sales 6.0x
Price/Book 3.2x
Price/Cash Flow 12.1x
TEV/Sales 3.0x
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