Consolidated Statement of Cash Flow for the Year Ended
December 31, 2023
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Notes
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Dec. 31,
2023
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Dec. 31,
2022
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EGP
Thousands
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EGP
Thousands
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Cash flow from operating activities
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Profit before income tax from continued
operations
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38,560,655
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22,392,634
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Profit (loss) from discontinued operations
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(42,102)
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(4,427)
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Adjustments to reconcile profits to net cash provided by
operating activities
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Fixed assets depreciation
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788,209
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885,801
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Impairment charge for credit losses
(Loans and advances to customers)
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2,311,867
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1,043,776
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Other provisions charges
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2,821,141
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2,134,462
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Impairment (Released) charge for
credit losses (due from banks)
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(47,234)
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8,395
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Impairment (Released) charge for
credit losses (financial investments)
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2,005,448
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524,838
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Impairment (Released) charge for
other assets
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17,620
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(277,766)
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Exchange revaluation differences for
financial assets at fair value through OCI and AC
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(5,442,433)
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(7,477,865)
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Utilization of other
provisions
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(5,850)
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(3,126)
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Other provisions no longer
used
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-
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(172)
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Impairment of goodwill and
intangible assets
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258,118
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206,287
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Exchange Revaluation differences
of other provisions
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1,213,126
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1,394,973
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Revaluation differences Impairment
charge for Financial Assets at Amortized cost
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607
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-
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Impairment (Reversal of impairment)
charges of investments in associates
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(9,000)
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-
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Profits from selling property, plant
and equipment
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(1,663)
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(2,208)
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profits from selling financial
investments at fair value through OCI
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(205,344)
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(1,162,195)
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Revaluation differences Impairment
charge for Financial Assets at Fair value through OCI
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1,903
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-
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Shares based payments
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754,817
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723,965
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Losses (Profits) from selling
investments in associates
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(7,466)
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-
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Bank's share in the profits / losses
of associates
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55,983
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17,680
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Operating profits before changes in working
capital
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43,028,402
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20,405,052
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Net
decrease (increase) in working capital
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Due from banks
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18,441,280
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(25,811,654)
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Financial assets at fair value
through profit or loss
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-
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240,987
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Derivative financial
instruments
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755,995
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(1,760,303)
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Loans and advances to banks and
customers
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(41,467,103)
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(51,705,061)
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Other assets
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(3,968,123)
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(2,862,478)
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Non current assets held for
sale
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(161)
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-
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Non current liabilities held for
sale
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873
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-
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Due to banks
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8,961,305
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2,630,642
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Due to customers
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145,620,929
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124,375,012
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Current income tax obligations
paid
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(3,704,414)
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(3,293,520)
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Other liabilities
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4,236,973
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3,989,688
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Net
cash generated from operating activities
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171,905,956
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66,208,365
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Net
cash generated from (used in) operating
activities
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Cash flow from investing activities
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Proceeds from sale of investments in
associates
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4,510
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-
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Payment for purchases of property,
equipment and branches construction
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(1,685,846)
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(1,033,499)
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Proceeds from selling property and
equipment
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1,663
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2,208
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Proceeds from redemption of
financial assets at amortized cost
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6,125,452
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6,738,937
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Payment for purchases of financial
assets at amortized cost
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(9,290,232)
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(19,908,223)
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Payment for purchases of financial
assets at fair value through OCI
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(129,073,519)
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(45,665,232)
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Proceeds from selling financial
assets at fair value through OCI
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102,763,650
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26,046,482
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Payment for investment in
subsidiaries.
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(1,142,840)
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-
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Net
cash generated from (used in) investing
activities
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(32,297,162)
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(33,819,327)
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Consolidated Statement of Cash Flow for the Year Ended
December 31, 2023 (Cont.)
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Dec. 31,
2023
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Dec. 31,
2022
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EGP
Thousands
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EGP
Thousands
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Cash flow from financing activities
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Other loans
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4,504,932
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2,838,193
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Other loans - new loans obtained in
the year
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9,604,139
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102,613
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Other loans - loans repaid in the
year
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(5,334,093)
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(554,539)
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Other loans - movement in foreign
exchange rate
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234,886
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3,290,119
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Dividends paid
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(2,016,159)
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(3,019,442)
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Issued debt instruments
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616,742
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899,344
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Cash payments for lease (principle
and interest)
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(248,871)
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(498,794)
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Capital increase
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369,876
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122,716
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Net
cash generated from (used in) financing
activities
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3,226,520
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342,017
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Net (decrease) increase in cash and
cash equivalent during the year
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142,835,314
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32,731,127
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Beginning balance of cash and cash
equivalent
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83,106,069
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50,374,942
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Cash and cash equivalent at the end of the
year
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225,941,383
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83,106,069
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Cash and cash equivalent at the end of the
year
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Cash and balances at the central
bank
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13
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71,887,821
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47,492,549
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Due from banks with maturities
of 3 months or less
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14
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217,156,599
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76,096,552
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Treasury bills and other
governmental notes with maturities of three months or
less
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19
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1,293,148
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10,575
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Obligatory reserve balance with
CBE
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13
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(64,396,185)
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(40,493,607)
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Total cash and cash equivalent
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31
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225,941,383
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83,106,069
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