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March 2021 - Interim Condensed March 2021 - Interim Condensed THE BANK TO TRUST Condensed Consolidated Interim Balance Sheet as at March 31, 2021 Mar. 31, 2021 Dec. 31, 2020 Notes EGP Thousands EGP Thousands Assets Cash and balances at the central bank 7 21,800,293 33,768,549 Due from banks 8 97,498,269 87,426,301 Loans and advances to banks, net 10 781,084 776,980 Loans and advances to customers, net 11 121,023,429 119,570,005 Derivative financial instruments 290,438 248,759 Investments - Financial Assets at Fair Value through P&L 12 341,120 359,959 - Financial Assets at Fair Value through OCI 12 168,048,353 148,118,372 - Amortized cost 12 24,942,082 25,285,225 - Investments in associates 13 309,292 139,871 Other assets 9,481,630 9,175,525 Goodwill 22 168,468 178,782 Intangible assets 23 42,329 44,920 Deferred tax assets (Liabilities) 431,534 437,772 Property and equipment 14 2,517,780 2,311,147 Total assets 447,676,101 427,842,167 Liabilities and equity Liabilities Due to banks 15 2,513,449 8,817,535 Due to customers 16 366,248,516 341,169,450 Derivative financial instruments 306,569 331,073 Current tax liabilities 830,536 859,582 Other liabilities 6,817,729 5,735,269 Other loans 7,732,536 7,746,946 Provisions 17 3,272,949 3,223,501 Total liabilities 387,722,284 367,883,356 Equity Issued and paid up capital 14,776,813 14,776,813 Reserves 40,240,815 33,094,580 Reserve for employee stock ownership plan (ESOP) 1,227,099 1,064,648 Retained earnings * 3,225,616 10,539,715 Total equity and net profit for the period / year 59,470,343 59,475,756 Minority interest 483,474 483,055 Total minority interest, equity and net profit for the period / year 59,953,817 59,958,811 Total liabilities and equity 447,676,101 427,842,167 The accompanying notes are an integral part of these financial statements . (Review report attached) * Including net profit for the current period 0 0 0 Hussein Abaza Sherif Samy CEO & Board member Chairman Condensed Consolidated Interim Income Statement for the period ended March 31, 2021 Last 3 Months Last 9 Months Last 3 Months Last 9 Months Notes ##### Mar. 31, 2021 #### Mar. 31, 2020 EGP Thousands EGP Thousands EGP Thousands EGP Thousands Interest and similar income #### 10,121,709 ### 10,687,101 Interest and similar expense #### (4,444,196) ### (4,491,657) Net interest income ### 5,677,513 ### 6,195,444 Fee and commission income #### 844,263 ### 805,413 Fee and commission expense #### (333,668) ### (305,561) Net fee and commission income ### 510,595 ### 499,852 Dividend income #### 91 ### - Net trading income 5 #### 112,718 ### (5,425) Profits (Losses) on financial investments 12 #### 493,655 ### 470,150 Administrative expenses #### (1,475,077) ### (1,524,860) Other operating (expenses) income #### (526,620) ### (747,433) Goodwill amortization 22 #### (10,314) - - Intangible assets amortization 23 - (2,591) ### - Impairment release (charges) for credit losses #### (702,082) ### (1,240,110) Bank's share in the profits of associates #### 11,061 ### 8,149 Profit before income tax ### 4,088,949 ### 3,655,767 Income tax expense #### (1,209,247) ### (1,332,487) Deferred tax assets (Liabilities) #### (6,239) ### 75,241 Net profit for the period #### 2,873,463 ### 2,398,521 Minority interest 419 419 - - Bank shareholders ### 2,873,044 ### 2,398,521 Earning per share 6 Basic 1.72 0.00 1.43 Diluted 1.43 1.71 0.00 1.42 Hussein Abaza Sherif Samy CEO & Board member Chairman Condensed Consolidated Interim statement of Comprehensive Income for the period ended March 31, 2021 Last 3 Months Last 9 Months Last 3 Months Last 9 Months Mar. 31, 2021 Mar. 31, 2021 Mar. 31, 2020 Mar. 31, 2020 EGP Thousands EGP Thousands EGP Thousands EGP Thousands Net profit for the period - 2,135,851 2,873,463 (2,949,737) 2,398,521 Change in fair value of debt instruments measured at fair value through other comprehensive income (190,728) (1,674,309) (7,704,831) (4,865,970) Transferred from reserve on disposal of financial assets at fair value through OCI (49,264) (104,406) - - Cumulative foreign currencies translation differences (4,174) (3,320) (435) 1,499 Effect of ECL in fair value of debt instruments measured at fair value through OCI (105,156) (14,644) 62,347 (47,321) Total comprehensive income for the period (2,485,173) 1,076,784 (10,592,656) (2,513,271) As follows: Bank's shareholders (2,485,592) 1,076,365 (10,592,656) (2,513,271) Minority interest 419 419 - - Total comprehensive income for the period (2,485,173) 1,076,784 (10,592,656) (2,513,271) Condensed Consolidated Interim Cash flows for the period ended March 31, 2021 Notes Mar. 31, 2021 Mar. 31, 2020 EGP Thousands EGP Thousands Cash flow from operating activities Profit before income tax from continued operations 4,088,949 3,655,767 Adjustments to reconcile net profit to net cash provided by operating activities Fixed assets depreciation 14 194,609 160,538 Impairment charge for credit losses (Loans and advances to customers and banks) 720,756 1,272,649 Other provisions charges 17 114,109 439,410 Impairment charge for credit losses (due from banks) (4,030) 14,782 Impairment charge for credit losses (financial investments) (14,644) (47,321) Impairment charge for other assets 12,676 13,707 Exchange revaluation differences for financial assets at fair value through OCI 23,042 287,889 Goodwill amortization 22 37,819 - Intangible assets amortization 23 9,502 - Impairment charge financial assets at fair value through OCI (72,957) 69,863 Utilization of other provisions 17 (43,518) (726) Other provisions no longer used 17 (5,872) (38,630) Exchange differences of other provisions 17 (15,271) (22,219) Profits from selling property, plant and equipment (1,250) (94) (Profits) losses from selling financial investments 12 (420,698) (554,113) Shares based payments 162,451 145,069 Bank's share in the profits of associates (11,061) 5,951 Operating profits before changes in operating assets and liabilities 4,774,612 5,402,522 Net decrease (increase) in assets and liabilities Due from banks (12,278,859) 211,025 Financial assets at fair value through P&L 12 18,839 104,116 Derivative financial instruments (66,183) 35,892 Loans and advances to banks and customers 10 - 11 (2,178,284) 2,421,201 Other assets (371,049) 857,769 Due to banks 15 (6,304,086) (1,372,684) Due to customers 16 25,079,066 5,523,887 Income tax obligations paid (29,046) (4,639,364) Other liabilities (25,774) (722,192) Net cash used in (generated from) operating activities 8,619,236 7,822,172 Cash flow from investing activities Proceeds (payments) for investment in associates. (158,360) - Payment for purchases of property, plant, equipment and branches constructions (348,974) (320,835) Proceeds from selling property, plant and equipment 1,250 94 Proceeds from redemption of financial assets at amortized cost 452,910 45,639,889 Payment for purchases of financial assets at amortized cost (237,609) (44,945,839) Payment for purchases of financial assets at fair value through OCI (55,600,830) (62,050,349) Proceeds from selling financial assets at fair value through OCI 33,585,657 54,866,521 Net cash generated from (used in) investing activities (22,305,956) (6,810,519) Condensed Consolidated Interim Cash flows for the period ended March 31, 2021 (Cont.) Mar. 31, 2021 Mar. 31, 2020 EGP Thousands EGP Thousands Cash flow from financing activities Received (Repaid) in long term loans (14,410) (91,576) Dividend paid (1,360,652) (3,370,464) Net cash generated from (used in) financing activities (1,375,062) (3,462,040) Net increase (decrease) in cash and cash equivalent during the priod (15,061,782) (2,450,387) Beginning balance of cash and cash equivalent 75,796,375 22,895,017 Cash and cash equivalent at the end of the period 60,734,593 20,444,630 Cash and cash equivalent comprise: Cash and balances at the central bank 21,800,293 27,169,495 Due from banks 97,518,428 26,640,005 Treasury bills and other governmental notes 52,371,207 29,091,960 Obligatory reserve balance with CBE (15,805,888) (22,186,285) Due from banks with maturities more than three months (42,484,048) (10,415,104) Treasury bills with maturity more than three months (52,665,399) (29,855,441) Total cash and cash equivalent 60,734,593 20,444,630 Condensed Consolidated Interim statement of changes in shareholders' equity for the period ended March 31, 2020 Reserve for Reserve for Reserve for Cumulative transactions Banking employee Total Issued and paid General risk Capital financial assets Retained foreign currencies Minority Mar. 31, 2020 Legal reserve General reserve under risks stock Shareholders Total up capital reserve reserve at fair value earnings translation Interest common reserve ownership Equity through OCI differences control plan EGP Thousands Beginning balance 14,690,821 2,188,029 16,474,429 1,549,445 - 13,466 4,111,781 5,164 11,881,657 963,152 2,501 51,880,445 - 51,880,445 Transferred to reserves - 590,106 7,840,286 - - 1,440 - - (8,431,832) - - - - - Dividend paid - - - - - - - - (3,370,464) - - (3,370,464) - (3,370,464) Net profit of the period - - - - - - - - 2,398,521 - - 2,398,521 - 2,398,521 Net unrealised gain/(loss) on financial assets at fair value through OCI - - - - - - (4,865,970) - - - - (4,865,970) - (4,865,970) Transferred (from) to banking risk reserve - - - - - - - 1,259 (1,259) - - - - - ECL for impairment of debt instruments investments - - - - - - (47,321) - - - - (47,321) - (47,321) Cost of employees stock ownership plan (ESOP) - - - - - - - - - 145,069 - 145,069 - 145,069 Cumulative foreign currencies translation differences - - - - - - - - 666 - (1,002) (336) - (336) Balance at the end of the period 14,690,821 2,778,135 24,314,715 1,549,445 - 14,906 (801,510) 6,423 2,477,289 1,108,221 1,499 46,139,944 - 46,139,944 Condensed Consolidated Interim statement of changes in shareholders' equity for the period ended March 31, 2021 Reserve for Reserve for Reserve for Cumulative transactions Banking employee Total Issued and General General risk Capital financial assets Retained foreign currencies Minority Mar.
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