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ANNUAL REPORT
w w w . a i b . c o m . e g
2013
ANNUAL REPORT
Annual Report
No.39
2013
Contents
First
6 Letter from The Deputy Chairman & Managing Director.
11 Banks Background.
General View
12 The Shareholders.
13 Members of The Board of Directors.
14 The Most Significant Financial Informations & Indications.
Second
Board of Directors
Report
20 Financial Position.
27 Income Statement.
31 Corporate Business Organizations Credit.
Third
34 Board of Directors.
Governance
Fourth
Financial
Statements
46 Auditors Report.
48 Financial Statements.
53 Notes to The Financial Statements.
Fifth
Interconnection
with the Bank
ANNUAL REPORT
2013
ANNUAL REPORT
2013
First
General View
6
11 Banks Background.
12 The Shareholders.
13 Members of The Board of Directors.
14 The Most Significant Financial
ANNUAL REPORT
2013
ANNUAL REPORT
2013
ANNUAL REPORT
2013
ANNUAL REPORT
2013
Dear Shareholders:
ANNUAL REPORT
2013
ANNUAL REPORT
10
2013
Banks Background
The Arab International Bank was established in 1974
by virtue of an international treaty concluded by the
governments of the Arab Republic of Egypt, Libya,
Sultanate of Oman, the State of Qatar and the United
Arab Emirates. The legal domicile of the Bank is located
in Cairo, Egypt.
The purpose of this Bank is to carry out all the banking,
financial and commercial activities related to the
projects of economic development and foreign trade,
especially for the interest of the member states, other
countries and the Arab countries. The said activities
include but not limited to:
1. Accepting time deposits or call deposits and opening
accounts for the governments of the Arab countries
,non- Arab countries, the organizations, institutions,
banks ,companies and individuals from the Arab
countries and non-Arab countries.
2. Financing the foreign trade operations of the Arab
countries through providing credit facilities for the
importers, granting finance to the exporters and
providing insurance or securing the facilities required
for such operations.
3. Organizing the participation in the projects and
investment programs that are related to the economic
development particularly those of common nature
among a number of the Arab countries.
4. Providing long and medium term loans for the
purposes of development.
5. Establishing or acquiring companies or participating
in any manner with the banks, Arab and foreign
companies practicing similar activities and assisting
the Bank in achieving its purposes in the Arab or
foreign countries.
ANNUAL REPORT
11
2013
The Shareholders
% 12.5
% 4.984
% 38.76
% 2.49
% 38.76
% 2.503
ANNUAL REPORT
12
%
Central Bank of Egypt on behalf of The Arab Republic of Egypt
38.76
38.76
12.5
4.984
2.49
2.503
Total
100
2013
ANNUAL REPORT
13
2013
ANNUAL REPORT
14
2012
2011
(US $ Thousand)
85466
78937
72833
(56102)
(49688)
(46845)
29364
29249
25988
Provisions increase
(11029)
(2200)
(319)
Net profit
18335
27049
25669
(US $ Milion)
Total assets
3181
3126
3800
701
549
1395
1352
1462
1363
Tresuary bills
431
424
193
Marketable securities
91
99
246
Direct investments
508
489
497
Customers deposits
1760
1795
2603
752
743
713
(%)
(%)
(%)
1.77
(17.74)
(8.26)
9.88
8.94
9.62
125.89
120.10
119.59
1.25
4.11
(1.07)
23.64
23.76
18.77
57.27
62.85
44.97
76.84
81.48
52.38
74.52
77.13
85.85
35.60
31.15
41.79
2.70
2.26
1.84
2.45
3.72
3.58
4.07
6.01
5.70
Assets quality
Capital Adequcy
Liquidity
Profitability
2013
Assets Breakdown
22 Cash at Banks
700,957
14 Treasury Bills
431,321
1 Trading Investments
42 Loans & Advances
1
Others
52,110
35,948
1,352,450
31,577
478,989
97,550
3,180,902
Resources Breakdown
55 Customers deposits
1,760,051
19 Banks deposits
601,657
24 Shareholders equity
751,827
2 Others
67,367
3,180,902
1,163,035
189,415
1,352,450
Financial
155,929
46
Industrial
681,669
Commercial
11
Tourism
11.8 Electricity
1
Construction
15
Others
79,190
170,447
176,921
11,587
224,919
1,500,662
ANNUAL REPORT
15
2013
ANNUAL REPORT
16
%50
%8
%28
%14
50 Financial Institutions
8
240,069
Tourism projects
37,761
132,098
69,061
478,989
1400000
1200000
1000000
Customers Deposits
800000
Dec / 2013
1,241,223
1,209,959
Demand Deposits
380,430
421,496
Certificates Of Deposits
122,384
144,049
16,014
19,336
1,760,051
1,794,840
Time Deposits
600000
400000
200000
Other
0
Fixed Deposits
Demand Deposits
31 December 2013
Certificates Of
Deposits
Dec / 2012
Other
31 December 2012
1600000
1400000
Distribution of Customers deposits by
Client Type
Dec / 2013
Dec / 2012
Business organizations
1,511,220
1,519,460
248,831
275,380
Individuals
1,760,051 1,794,840
1200000
1000000
800000
600000
400000
200000
0
Business organizations
31 December 2013
Individuals
31 December 2012
2013
500000
450000
400000
350000
300000
250000
200000
Dec / 2013
Dec / 2012
Local Banks
164,477
93,277
Foreign Banks
437,180
438,772
601,657
532,049
150000
100000
50000
0
Foreign Banks
Local Banks
31 December 2013
31 December 2012
3.500000
3.000000
Net Loans
Customers
Deposits
2008
825,510
3,408,473
2009
651,645
3,167,080
2010
1,503,608
2,808,089
2011
1,363,418
2,602,956
2012
1,462,405
1,794,840
2013
1,352,450
1,760,051
2.500000
2.000000
1.500000
1.000000
500000
0
2008
2009
2010
Net Loans
2011
2012
2013
Customers Deposits
350000
300000
250000
200000
Dec / 2013
Dec / 2012
Arab world
2,805,005
2,792,708
100000
Europe
188,193
280,529
50000
North America
131,740
13,352
55,964
38,961
3,180,902
3,125,550
Others
150000
Arab world
31 December 2013
Europe
North America
31 December 2012
Others
ANNUAL REPORT
17
2013
ANNUAL REPORT
18
If we dont change,
we dont grow.
Gail Sheehy
2013
Second
Board of Directors
Report
20 Financial Position.
27 Income Statement.
31 Corporate Business & Organizations Credit.
ANNUAL REPORT
19
2013
ANNUAL REPORT
20
(1)The Resources
The total amount of resources as at December 31, 2013 amounted to US$ 3 181million corresponding to US$ 3 126
million as at December 31, 2012 with an increase of US$ 55 million. The following table shows the sources of such
resources:
(Per Million US$)
31 December 2013
31 December 2012
Change (-)/ +
Value
Value
Value
1 760
55
1 795
57
(35)
602
19
532
17
70
Shareholders equity
752
24
743
24
67
56
11
Total
3 181
100
3 126
100
55
Resources
2000
1800
1600
1400
1200
1000
800
600
400
200
0
Customers
deposits
&certificates
of deposits
Placement
from banks and
other financial
institutions
31 December 2013
Shareholders
equity
Other
credit
balances
31 December 2012
2013
A- Shareholders Equity
The total Shareholders Equity as at December 31, 2013 mounted to US$ 752 million corresponding to US$743 million
as at December 31, 2012 with an increase of US$ 9 million .Hereunder is an analysis of the shareholders equity items
as at December 31, 2013 & December 31, 2012:
(Per Million US$)
Change(-)/ +
Item
31 December 2013
31 December 2012
Paid- in capital
450
450
Reserves
173
170
69
59
10
Retained earnings
37
36
18
27
(9)
Total
752
743
Value
(A/2) Capital
The Ordinary General Assembly meeting of the Bank was held on May 14, 2009 and approved increasing the capital
from US$ 300 million to US$ 600 million through the issuance of 15 thousand ordinary shares, the value of each is US$
20 thousand and they were entirely subscribed in. On November 3rd , 2009 the amount of US$ 150 million of the said
increase was called up and paid on November 23rd , 2009 thus, the paid in capital became US$ 450 million.
Value of
issued shares
12.5 %
4.984 %
2.49 %
38.76 %
2.503%
38.76 %
11 628
232 560
38.76
Libya
11 628
232 560
38.76
3 751
75 020
12.503
State of Qatar
1 495
29 900
4.984
747
14 940
2.49
751
15 020
2.503
Total
30 000
600 000
100
The Bank maintained a capital adequacy ratio as at December 31, 2013 amounted to 11.62% while the minimum limit
of the requirements of the Central Bank of Egypt is 10% and the minimum limit of the requirements of Basel Accords
is 8%.
ANNUAL REPORT
21
2013
ANNUAL REPORT
22
B- Deposits:
(B/ 1)Customers Deposits & Certificates Of Deposits
The Customers Deposits & Certificates Of Deposits as at December 31, 2013 amounted to US$ 1 760 million
corresponding to US$ 1 795 million as at December 31, 2012 with a decrease of US$ 35 million at a rate of reduction
of 2% as the decrease in financial organizations and institutions deposits reached 1% while the decrease in the
certificates of deposits reached 15% and an increase in the retail deposits at a rate of 1%.
The interest paid in return for customers deposits & certificates of deposits as at 31 Dec. 2013 amounted to US$ 8.3
million corresponding to US$ 8.4 million as at 31 Dec. 2012 at an average of interest rate that reached 0.47% during
the current financial year while corresponding to 0.42% during the comparative year.
(B/2)Placements From Banks And Other Financial Institutions
The Placements From Banks And Other Financial Institutions as at December 31, 2013 amounted to US$ 602 million
corresponding to US 532 million as at December 31, 2012 with an increase amounting to US$ 70 million at a rate
of increase of 13 % when compared to last year. The interest paid on Placements from Banks and other Financial
Institutions as at December 31, 2013 amounted to US$ 8.4 million at an average interest rate amounted to 1.45 %
corresponding to US$ 4.9 million as at December 31, 2012 at an average interest rate of 0.96 %.
(2) Utilizations
The total utilizations as at December 31, 2013 amounted to US$ 3 181 million corresponding to US$ 3 126 million as
at December 31, 2012 at an increase amounted to US$ 55 million. Such utilizations were distributed as follows:
(Per Million US$)
31 December 2013
31 December 2012
Change(-)/ +
Value
Value
value
701
22
549
17
152
Financial investments
522
16
523
17
(1)
1 352
43
1 462
47
(110)
Direct participations
508
16
489
16
19
Investment properties
22
22
76
81
(5)
Total
3 181
100
3 126
100
55
Utilizations
1600
1400
1200
1000
800
600
400
200
0
Cash balances
& due from
banks
Financial
investments
31 December 2013
Loans &
advances
(net)
Direct
participations
31 December 2012
Investment
properties
Fixed assets
& other debit
balances
2013
(B)Financial Investments
The balances of Financial Investments Available For Sale, Held To Maturity and Held For Trading in addition to Treasury
Bills as at December 31, 2013 amounted to US$ 522 million corresponding to US$ 523 million as at December 31,
2012 with a decrease of one million US dollars. The value of such investments represents 16.4% of the total assets as
at December 31, 2013 corresponding to 16.7% as at December 31, 2012.
The following represents the components of the said investments as at December 31, 2013/ 2012:
(Per ThousandUS$)
Description
Change (-)/ +
31 December 2013
31 December 2012
13 787
17 351
)3 564(
Mutual funds
7 808
6 722
1 086
1 844
8 818
)6 974(
23 439
32 891
)9 452(
431 321
424 450
6 871
431 321
424 450
6 871
31 577
31 522
55
(3) 31 577
31 522
55
35 948
34 551
1 397
35 948
34 551
1 397
522 285
523 414
)1 129(
Value
(1)
Treasury bills
Total treasury bills
(2)
(4)
The reduction is within the implementation of the Board of Directors resolution to the effect of reducing the volume of investments abroad whereas part of the portfolios was liquidated with an
500000
45000
31 December 2013
400000
31 December 2012
350000
300000
250000
200000
150000
100000
50000
0
Marketed
financial
issuance
Mutual funds
External
investment
managers
Treasury
bills
Fixed
interest local
bonds
Portfolios
managed by
third parties
ANNUAL REPORT
23
2013
ANNUAL REPORT
24
Change (-)/ +
Description
31 December 2013
31 December 2012
1 213 035
1 310 365
)97 330(
Commercial credit
376 968
379 268
)2 300(
Total portfolio
1 590 003
1 689 633
)99 630(
)89 341(
)83 608(
)5 733(
)116 934(
)116 929(
)5(
)31 278(
)26 691(
)4 587(
)237 553(
)227 228(
)10 325(
Net
1352450
1462405
)109955(
Value
Less:
On December 31, 2013, the non-performing loans portfolio amounted to US $118 million corresponding to US $
119 million during the previous year. The coverage ratio of the general and specified loans & Advances impairment
provisions to the total credit portfolio (excluding the suspense interests) was 9.9% on December 31, 2013 corresponding
to 8.9% on December 31, 2012 while the coverage ratio of the specified impairment provision to the net defaulting
loans portfolio was 99% on December 31, 2013 corresponding to 98% on December 31, 2012.
The total amount of the interest income pertaining to the credit portfolio amounted to US $ 54 million on December
31, 2013 corresponding to US $ 51 million on December 31, 2012 at an average interest rate of 3.9% on December 31,
2013 corresponding to 3.70% as at December 31, 2012.
The classification of the loans and advances according to the sectors (In net value after suspense interests &
commisions) is as follows:
(Per ThousandUS$)
Sector
Financial institutions
155 929
454 969
Industrial
281 733
255 890
Petroleum
202 517
150 000
Petroleum services
113 818
102 861
Gas
83 601
70 972
Commercial
79 190
76 638
Touristic
170 447
170 068
Electricity
176 921
178 650
Construction works
11 587
11 910
300000
Other
224 919
134 067
250000
Total
1 500 662
1 606 025
500000
450000
400000
350000
200000
150000
100000
50000
0
Financial
institutions
Industrial
Petroleum
Petroleum
services
Gas
31 December 2013
Commercial
Touristic
31 December 2012
Electricity
Construction
works
Other
2013
Participation 31 December
Percentage
2013
31 December
2012
Change
(-)/+
Amount
Housing
Administrative
50
132 098
132 241
)143(
Banking
46
116 290
102 807
13 483
Banking
41,5
116 138
116 138
Educational
Institutions
24
69 061
64 514
4 547
Housing
Hotels
20
37 761
39 029
)1 268(
Financial
Institutions
89
7 641
7 641
478 989
462 370
16 619
Description
Investments in Associates
Participation Percentage 20% and More
**
Housing
Hotels
18
16 400
16 400
Housing Tourism
10
1 583
1 583
Financial
Institutions
704
704
Financial
Institutions
10
1 632
1 632
Financial
Institutions
11
1 532
1 532
1 169
844
325
5 367
3 653
1 714
284
349
)65(
28 671
26 697
1 974
507 660
489 067
18 593
Miscellaneous
Equity Instruments Recorded at Fair Value
VISA International
Financial
Institutions
Banking
0.02
* The increase and decrease in the participations balance are due to decreasing the participation balance by the
amount of the cash dividends distributed by these companies in regard to their realized profits for the financial year
ended as at December 31, 2012 in addition to increasing or decreasing the participation balance by the amount of
the banks stake, labeled as an increase or decrease in the equity of the said companies for the financial year ended as
at December 31, 2013.
** Investments to be reclassified under the item of available for sale investments when preparing the financial
statements of the Bank at the end of the financial year.
The net value of the Banks share in the profits of the associate companies resulting from applying the equity method
amounted to US $ 13.9 million as at December 31, 2013 corresponding to US $ 14 million as at December 31, 2012.
ANNUAL REPORT
25
2013
ANNUAL REPORT
26
(Per ThousandUS$)
Item
Change (-)/+
31 December 2013
31 December 2012
131 667
205 479
)73 812(
Letters of Guarantee
157 229
108 597
48 632
Total (A)
288 896
314 076
)25 180(
50 871
44 266
6 605
Participations
614
)614(
Total (B)
50 871
44 880
5 991
Total (A +B)
339 767
358 956
)19 189(
Amount
Commitments
The total contingent liabilities provision that represents an obligation on the part of the Bank as at December 31, 2013
amounted to US$ 6 million corresponding to US$ 5 million as at December 31, 2012.
The net revenues gained from fees and commissions as at December 31, 2013 amounted to US$ 12.6 million
corresponding to US$ 13 million as at December 31, 2012.
2013
Description
31 December 2013
31 December 2012
Operating Income
102 176
86 834
Operating expenses
)16 712(
)13 277(
85 464
73 557
)43 881(
)36 957(
41 583
36 600
5 380
)11 029(
)2 200(
)2 147(
)1 972(
)10 072(
)10 759(
18 335
27 049
Provisions increase
BOD remunerations share in profits
Employees share in profits
Net profit
(1)Revenues :
The Bank achieved total operating income as at December 31, 2013 that amounted to US$ 102 million corresponding
to US$ 87 million as at December 31, 2012 according to the following:
(Per ThousandUS$)
31 December 2013
Description
31 December 2012
Value
Value
Interest income
70 862
69,2
66 847
77
2 458
2,5
)10 015(
)11,5(
13 880
13,7
13 995
16,1
14 976
14,6
16 007
18,4
Total
102 176
100
86 834
100
80000
70000
60000
50000
40000
30000
31 December 2013
20000
31 December 2012
10000
0
-10000
-20000
Interest
income
Profits /
Losses from
investments
Profits from
associates
Net
operating
income
ANNUAL REPORT
27
2013
ANNUAL REPORT
28
31 December 2013
Interest income
31 December 2012
Value
Value
1 329
1,9
1 619
2,4
53 959
76,1
50 927
76,2
15 574
22
14 301
21,4
Total
70 862
100
66 847
100
31 December 2013
Description
31 December 2012
Value
Value
1 501
2 603
65,4
957
)12 618(
)317(
13 880
85
13 995
351,6
Total
16 338
100
3 980
100
20000
15000
10000
5000
31 December 2013
31 December 2012
-5000
-10000
-15000
Profits from
investments
held for
trading
Losses/
Profits from
investments
available for
sale
Profits from
associates
2013
31 December 2013
Operating revenues
31 December 2012
Value
Value
12 653
84,5
13 059
81,5
1 449
9,7
2 005
12,5
874
5,8
943
6,00
Total
14 976
100
16 007
100
(2) Expenses:
(A) Interests Expenses:
The Interest Expenses as at December 31, 2013 reached the amount of US $ 17 million compared to US $ 13 million on
December 31, 2012 and the following table presents a detailed description of the paid interests:
Interest Expenses
31 December 2013
31 December 2012
Value
Value
Customers deposits
7 049
42,2
7 056
53
Banks deposits
8 377
50,1
4 854
36,6
Certificates of deposits
1 286
7,7
1 367
10,4
Total
16 712
100
13 277
100
10000
8000
31 December 2013
6000
31 December 2012
4000
2000
0
Customers
deposits
Banks
deposits
Certificates of
deposits
ANNUAL REPORT
29
2013
ANNUAL REPORT
30
Description
31 December 2013
31 December 2012
Value
Value
31 554
67
27 982
76
4 838
11
1 440
7 489
22
7 535
20
Total
43 881
100
36 957
100
31 December
Change (-) / +
Description
2013
2012
Value
(4 293)
(4 293)
(5 685)
(5 685)
(1 051)
(1 051)
(2 200)
2 200
5 380
(5 380)
Total
(11 029)
3 180
14 209
2013
ANNUAL REPORT
31
2013
ANNUAL REPORT
32
2013
Third
Governance
34 Board of Directors.
35 Organizational Structure Chart.
36 Board Committees.
38 Internal Control System.
ANNUAL REPORT
33
2013
ANNUAL REPORT
34
There is nothing
wrong with change,
if it is in the right
direction.
Winston Churchill
2013
Board of
Directors
Board
Committees
Deputy
Chairman
Chairman
Board
Secretarial
Supreme
Committees
Governance and
Nominations Committees
Deputy Chairman
Managing
Director
Credit
Assistant
Managing Director
Assistant
Managing Director
Administration
& Services
Treasury &
Capital Markets
Central
Operations
Financial
Institutions
Legal
Affairs
Direct
Investments
Financial
Control
Remuneration
Committees
Risk
Committees
Investment
Committees
Audit
Committees
Branches &
Internal
Audit
Banking Services
Executive
Committees
Compliance
Information
Technology
Human
Resources
Credit
Committees
Internal
Control
Asset
Liability Committees
Human R esources
Committees
Risk
Management
Provisions
Committees
ANNUAL REPORT
35
2013
ANNUAL REPORT
36
Board Committees
AS OF 31/12/2013
Managing Director
Governance Committee:
Managing Director
Administration ( As a Supervisor)
Provisions Committee
2013
Board Committees
AS OF 28/1/2014
Supreme Committee:
Managing Director
Audit Committee:
Mr. Nidal Assar
Administration ( As a Supervisor)
Managing Director
Provisions Committee
ANNUAL REPORT
37
2013
ANNUAL REPORT
38
2013
Reporting
Control &
Identification
Monitoring
Limitation
Measurment
t
ke
ar
O
pe
ra
tin
Ri
sk
sk
sk
Ri
Ri
Market Risks
Operating Risks
ANNUAL REPORT
39
2013
ANNUAL REPORT
40
Liquidity Risk:
following:
1- Interest Rate Risk
2- Liquidity Risk
3- Foreign Exchange Risk
Interest Rate Risk:
The interest rate risk is monitored by the Asset and
Liability Committee (ALCO).
2013
ANNUAL REPORT
41
2013
ANNUAL REPORT
42
Second: Compliance
The Bank is considered among the pioneering banks working
in Egypt with respect to establishing an independent sector
for compliance since 2002 in order to protect the bank from
any noncompliance risks. The activity of the Compliance
Sector depends on three essential pivots:
Making sure that the systems, regulations and business
mechanisms of the bank are in conformity with the
banking standards and policies and with the laws and
instructions issued by the supervisory authorities.
Anti-money laundering.
2013
Change is difficult
but essential for
survival
Lee Brown
ANNUAL REPORT
43
2013
ANNUAL REPORT
44
2013
Fourth
Financial Statements
46 Auditors Report.
48 Financial Statements.
53 Notes to The Financial Statements.
ANNUAL REPORT
45
2013
ANNUAL REPORT
46
AUDITORS REPORT
To the Shareholders of Arab International Bank
Auditors Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit
in accordance with the International Standards on Auditing. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are
free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal control relevant to the entitys preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness of the entitys internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by management,
as well as evaluating the overall presentation of the financial statements.
2013
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
opinion on the financial statements.
our audit
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position
of Arab International Bank as of December 31, 2013, and of its financial performance and its cash flows for the year
then ended in accordance with the International Financial Reporting standards.
Auditors
ANNUAL REPORT
47
2013
ANNUAL REPORT
48
Balance Sheet
As of December 31, 2013
31/12/2012
(6)
211 919
152 414
(7)
489 038
396 684
Treasury Bills
(8)
431 321
424 450
(9)
35 948
34 551
(10)
52 110
59 588
(11)
1 352 450
1 462 405
(12)
31 577
31 522
Investments in associates
(13-A)
478 989
462 370
(14)
35 210
37 578
Investment properties
(15)
22 058
22 058
(16)
40 282
41 930
3 180 902
3 125 550
601 657
532 049
Customers deposits
(18)
1 637 667
1 650 791
Certificates of deposits
(19)
122 384
144 049
(20)
51 603
46 819
Other provisions
(21)
Assets
Total assets
Liabilities & Shareholders equity
Liabilities
Total liabilities
15 764
9 327
2 429 075
2 383 035
Shareholders equity
Issued and fully subscribed capital
(22)
600 000
600 000
Paid-in capital
(22)
450 000
450 000
Statutory reserve
99 461
95 483
General reserve
73 582
73 582
Retained earnings
36 620
36 049
4 869
832
68 960
59 520
18 335
27 049
751 827
742 515
3 180 902
3 125 550
(13-B)
* The attached notes from(1) to (39) form an integral part of these financial statements and are to be read therewith
*Auditors report attached
Mohamed Abduljawad
Deputy Chairman & Managing Director
Gamal Negm
Chairman
2013
Statement of Income
31/12/2012
Interest income
(23)
70 862
66 847
Interest expenses
(24)
( 16 712)
( 13 277)
54 150
53 570
1 501
2 603
13 880
13 995
957
( 12 578)
Operating Income
(25)
( 40)
14 976
16 007
85 464
73 557
( 31 554)
( 27 982)
Depreciation
( 2 199)
( 2 261)
( 10 128)
( 6 714)
( 43 881)
( 36 957)
41 583
36 600
5 380
Provisions
( 11 029)
( 2 200)
30 554
39 780
(26)
(27)
Less :
Board of Directors allowances & remuneration (subject
to the approval of General Assembly)
(3-O)
( 2 147)
( 1 972)
(3-O)
( 10 072)
( 10 759)
18 335
27 049
0.611
0.902
Net profit for the year after board of directors allowances & remuneration and employees profit shares
Earning per share
(37)
* The attached notes from(1) to (39) form an integral part of these financial statements and are to be read therewith
Mohamed Abduljawad
Deputy Chairman & Managing Director
Gamal Negm
Chairman
ANNUAL REPORT
49
2013
ANNUAL REPORT
50
Statement of Changes
in Shareholders Equity
Share
Capital
Staturoty General
Reserve
Reserve
Available
Retained for sale
Earnings Fair Value
Reserve
Investment
in Associate
Fair value
Reserve
Net Profit
Total
For the
year
Balance as at
31/12/2011
450 000
91 726
73 582
36 637
( 33 066)
68 678
25 669
713 226
Profit appropriation
for the year ended
31/12/2011
3 757
( 588)
( 25 669)
( 22 500)
33 898
33 898
( 9 158)
( 9 158)
27 049
27 049
Balance as at
31/12/2012
450 000
95 483
73 582
36 049
832
59 520
27 049
742 515
Balance as at
31/12/2012
450 000
95 483
73 582
36 049
832
59 520
27 049
742 515
Profit appropriation
for the year ended
31/12/2012
3 978
571
( 27 049)
( 22 500)
4 037
4 037
9 440
9 440
18 335
18 335
Balance as at
31/12/2013
99 461
73 582
36 620
4 869
68 960
18 335
751 827
450 000
2013
31/12/2013
31/12/2012
18 335
27 049
2 199
2 261
11 029
2 200
( 5 380)
67
( 58)
( 1 501)
( 2 603)
( 315)
13 214
40
( 13 880)
( 13 995)
( 56)
( 52)
( 5 895)
( 12 098)
803
( 60)
10 719
10 585
( 92 354)
601 354
103
51
105 662
( 97 486)
2 369
3 385
69 608
102 972
( 34 789)
( 808 116)
4 486
3 901
65 804
( 183 354)
Treasury bills
( 976)
( 219 392)
11 830
169 731
6 701
13 190
( 551)
( 2 273)
17 004
( 38 744)
Dividends paid
( 22 500)
( 22 500)
( 22 500)
( 22 500)
Effect of exchange rate changes on cash and cash equivalents during the year
( 803)
Net (decrease) increase in cash & cash equivalents during the year
59 505
( 244 538)
152 414
396 952
211 919
152 414
60
ANNUAL REPORT
51
2013
ANNUAL REPORT
52
Statement of Proposed
Profit Appropriations
31/12/2013
31/12/2012
30 554
39 780
36 620
36 049
67 174
75 829
Statutory reserve 10 %
3 055
3 978
Shareholders dividends
22 500
2 147
1 972
10 072
10 759
51 900
36 620
Total
67 174
75 829
& Net profit for the year before Board of Directors allowances
Distributed as follows
2013
1- General
A- Establishment of the Bank
Arab International Bank was established in 1974 by an International Treaty.
The registered Headoffice of the Bank is located in Cairo,
Egypt and the Bank carries out its business activities
through its network of branches in the Arab Republic of
Egypt (7 Branches ).
By virtue of the Treaty, the Bank enjoys certain privileges
in the territories of the Member States (shareholders)
including:
- Exemption from laws regulating of banks, credit,
exchange control, statutory auditing requirements, public
institutions , public companies and joint stock companies,
- Immunity from all forms of nationalization and seizure of
shares of the shareholders or deposits with the Bank,
- The Banks documents, records and files are inviolable
and immuned from judicial, administrative and accounting
control and inspection rules and laws,
- Confidentiality of customers accounts with the Bank
which are not subject to judicial or administrative
distraining orders prior to final judgment issuance,
- Exemption from tax of any kind on its funds, profits,
dividends and all its activities and different transactions.
- Exemption from taxation and any obligations for the
payment, withholding or collection of any tax or duty,
which may be imposed on its customers.
- The Extraordinary General Assembly meeting of
the Arab International Bank held on March 22nd,
2013 resolved to amend some articles of the Bank
Establishment Treaty , and the following are the most
significant amendments of which:
B- Banks activity
The Bank undertakes all banking, financial and commercial
activities relating to economic development and foreign
trade particularly in member states, Arab countries and
other countries.
C- Financial year
The financial year of the Bank ends up on June 30 of each
year. According to the Extraordinary General Assembly
Resolution dated September 5, 2007 the ending date of
the financial year was amended to be on December 31 of
each year.
ANNUAL REPORT
53
2013
ANNUAL REPORT
54
2- Basis of preparation
- The financial statements have been prepared in
accordance with International Financial Reporting
Standards (IFRS) and its interpretations adopted by the
International Accounting Standards Board (IASB).
- The preparation of financial statements in conformity
with IFRS requires management to make judgments,
estimates and assumptions that affect the application
of accounting policies and reported amounts of assets,
liabilities, income and expenses, actual results may differ
from these estimates.
Estimates and underlying assumptions are reviewed
on an ongoing basis. Revisions to accounting estimates
are recognized in the period in which the estimates are
revised and in any future periods affected.
In particular, information about significant areas of
estimation uncertainty and critical judgments in
applying accounting policies that have the most
significant effect on the amounts recognized in the
financial statements is included in Note No. (5)
- The financial statements are prepared under the
historical cost convention method as modified by the
revaluation of financial assets held for trading, available
for sale assets and derivatives instruments.
- These financial statements were approved by the board
of director on April 27, 2014.
3- Significant accounting
policies applied
The accounting policies set out below have been applied
consistently to all periods presented in these financial
statements.
B- Revenue recognition
- Interest income is recognized in the income statement as
it accrues and the income gained from the commissions
and charges is recognized upon rendering the service
except for interest income on non-performing loans
and advances as the interest are calculated based on the
portion expected to be collected thereof at the contract
interest rate to calculate the present value of the future
cash flows related to the portion of the loan that is
expected to be repaid.
- The Banks share in the operating results of the associate
companies is recorded in the books based on the equity
method.
- Dividend income on equity instruments classified as held
for trading or available for sale investments is accounted
for when the right to receive dividend is established.
- Gain or loss on sale of investments is accounted for when
the sale is executed.
- The revenues of banking services are recorded when the
service is rendered.
2013
C- Financial assets
The Bank classifies its financial assets into the following
categories: financial assets at fair value through profit
or loss, loans & liabilities, heldto-maturity investments;
available-for-sale
financial
assets.
Management
determines the classification of its investments at initial
recognition.
ANNUAL REPORT
55
2013
ANNUAL REPORT
56
D- Investments in associates
Accounting for investments in companies which the Bank
owns 20% or more of the voting rights is according to
the equity method. Initial recognition is at cost, which is
subsequently increased or decreased based on the Banks
share of the change in the investees companies net assets
which occur after the acquisition. The Banks share in the
change of the investees companies equity subsequent
to the acquisition are recorded directly in the Banks
equity. The investment cost is decreased by the dividends
received from the investees and impairment losses, if any.
E- Investment properties
Investment properties are initially recognized at cost plus
transaction costs, and are subsequently measured at fair
value. Gains or losses arising from a change in fair value of
these investments are recorded in the income statement
in the period in which they arise.
2013
J- Other provisions
A provision is recognized, if as result of a past event,
the Bank has a present legal or constructive obligation
that can be estimated reliably, and it is probable that
an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by
discounting the expected future cash flows at a pretax rate that reflects current market assessments of the
time value of money and the risks specific to the liability.
Other provisions balance is reviewed on the balance
sheet date and amended when necessary to indicate
the best current estimate thereof.
ANNUAL REPORT
57
2013
ANNUAL REPORT
58
K- Offsetting:
M- Statutory reserve
L- Derivatives
N- General reserve
2013
Credit risk
Operational risk
Market risk
Liquidity risk
ANNUAL REPORT
59
2013
ANNUAL REPORT
60
A- Credit risks
The Bank is exposed to credit risk which means that a
party does not repay the amount due from it. Credit risk
is the most significant risk encountered by the Bank;
therefore, the Banks management carefully manages
such exposure. Credit risk is mainly represented
in lending activities such as loans, facilities, and
investment activities, as a result, the Banks assets
include debt instruments. Credit risk also exists in
off balance sheet financial instruments such as loan
commitments. Credit risk management and control
operations are the responsibility of Risk Management
Department which regularly reports to the Board of
Directors, top management, and heads of business
units.
The Bank applies a tight framework to control credit
risk, and the credit policy and the authority to grant
credit are corner stone of this framework. Both credit
policy and the authority to grant credit are determined
by the Risk Management Department and business
lines, and they are regularly reviewed and approved by
the Board of Directors
Loans and
facilities
Loans and
facilities
Loans and
facilities
Loans and
facilities
to customers
(clients)
to institutions
to customers
(clients)
to institutions
169 912
1 213 035
-
176 179
1 310 365
-
Impaired
207 056
203 089
Total
376 968
1 213 035
379 268
1 310 365
119 029
29 183
119 231
24 389
89 341
Net
168 598
1 183 852
83 608
176 429
1 285 976
2013
Debit current
accounts
869
Credit cards
Personal loans
511
57 611
58 991
2. Regular follow-up
3. Special follow-up
4. Non-performing
26
Total
895
511
116
142
57 727
59 133
Corporate
31/12/2013
1. Good
Debit current
accounts
3 236
2. Regular follow-up
3. Special follow-up
4. Non-performing
Syndicated
& Corporate
loans
Other loans
88 552
656 927
748 715
20 129
508 770
528 899
46 342
46 342
996
206 914
1 530 870
469
Total
Direct loans
205 449
3 705
314 130
1 213 035
Individuals
31/12/2012
1. Good
Debit current
accounts
1 229
Credit cards
565
Personal loans
57 119
58 913
2. Regular follow-up
3. Special follow-up
4. Non-performing
Total
1 229
565
57 119
58 913
Corporate
31/12/2012
1. Good
Debit current
accounts
4 375
Direct loans
72 564
Syndicated
& Corporate
loans
Other loans
837 918
914 857
461 991
2. Regular follow-up
3. Special follow-up
1 147 49 636
50 783
4. Non-performing
203 089
203 089
Total
4 375
315 980
1 630 720
1 310 365
Guaranteed loans are not considered subject to impairment for the non-performing category after taking into
consideration the collectability of the guarantees.
ANNUAL REPORT
61
2013
ANNUAL REPORT
62
B- Operational risk
C- Market risk
Market risk represents the loss resulting from adverse
changes in market prices. This risk is inherent in all
trading transactions and some of the Banks operations.
Foreign exchange risks represent losses resulting from
changes in interest and forex rates for balance sheet
and off balance sheet items. Theses risks result from
the trading activities of the Bank.
Interest rate risks relate to trading activities and are
attributed to the difference between total assets and
total liabilities of fixed interest rates.
2013
Table (c) illustrates the carrying amounts of financial instruments in relevant currencies
the carrying amounts of financial instruments in relevant currencies.
31/12/2013
US$
Euro
GBP
EGP
Other
currencies
Total
Financial assets
Cash and balances with banks
167 471
36 763
1 773
911
5 001
211 919
275 000
73 018
137 745
3 275
489 038
1 272 936
78 316
99
1 094
1 352 450
Treasury bills
296 708
134 613
Trading
35 948
Financial investments
-
431 321
35 948
52110
52 110
Held to maturity
31 577
31 577
Investments in associates
478989
478 989
2 610 739
322 710
139 617
559 736
36 521
4 002
283 963
1 893 238
717 501
916
9 370
3 083 352
1 398
601 657
134 704
7 882
1 760 051
320 484
138 706
9 280
2 361 708
2 226
911
90
721 644
Financial Liabilities
Placements from banks
31/12/2012
US$
Euro
916
GBP
EGP
Other
currencies
Total
Financial assets
Cash and balances with banks
61 842
81 933
1 388
134 600
115 166
144 046
1 439 555
22 529
123
Treasury bills
295 267
129 183
Trading
34 551
137
7 114
152 414
2 872
396 684
198
1 462 405
Financial investments
-
424 450
34 551
59 588
59 588
Held to maturity
31 522
31 522
Investments in associates
462 370
462 370
2 519 295
348 811
145 557
137
10 184
3 023 984
491 086
34 646
4 499
1 818
532 049
311 324
140 434
8 166
1 794 840
1 826 002
345 970
144 933
9 984
2 326 889
693 293
2 841
624
137
200
697 095
Financial Liabilities
Placements from banks
ANNUAL REPORT
63
2013
ANNUAL REPORT
64
D- Liquidity risk
Fair value
Dec. 31, 2013
Financial assets
Financial investments:
Unlisted available for sale equity instruments 23 020
22 695
N/A
N/A
31 522
31 265
31 945
Held to maturity:
Debt instruments
31 577
2013
ANNUAL REPORT
65
2013
ANNUAL REPORT
66
31/12/2012
Cash on hand
45 086
47 427
1 055
329
165 778
104 658
Total
211 919
152 414
31/12/2012
305 098
131 298
183 940
265 386
Total
489 038
396 684
31/12/2013
31/12/2012
437 770
431 995
Total
437 770
431 995
Unearned interest
(6 449)
(7 545)
Net
431 321
424 450
31/12/2013
31/12/2012
35 948
34 551
Total
35948
34 551
31/12/2013
31/12/2012
19 438
21 352
9 652
15 541
23 020
22 695
Total
52 110
59 588
8- Treasury bills
2013
The following is the unlisted equity instruments book value that where measured at cost due
to the inability to determine its fair value on the balance sheet date:
Ownership % 31/12/2013
31/12/2012
A.I.C.H.T. Cairo
17.59
16 400
16 400
10
1 583
1 583
AFSCO Bahrain
2.29
704
704
0.11
860
535
3.57
288
288
Egyptian Banks for Takaful Insurance Co.(for Property and Liability Insurance)
9.5
1 632
1 632
10.75
1 532
1 532
Other *
21
21
Total
23 020
22 695
31/12/2013
31/12/2012
1 590 003
1 689 633
- Specific provisions
116 934
116 929
31 278
26 691
- Suspense interest
89 341
83 608
237 553
227 228
1 352 450
1 462 405
Non performing loans amount to U.S.$ 118 Million on Dec 31, 2013 compared to U.S.$ 119 Million on Dec 31, 2012, and
suspense interest amount to US$ 89.3 Million on Dec 31, 2013 compared to US$ 83.6 Million on Dec 31, 2012.
ANNUAL REPORT
67
2013
ANNUAL REPORT
68
31/12/2012
Specific
Collective
Total
Specific
Collective
Total
allowances allowances allowances allowances allowances allowances
Balance at the beginning of the year
116 928
26 692
143 620
121 354
23 767
145 121
Written off
(58)
(58)
(1 165)
(1 165)
67
67
Transfers
(246)
545
299
(3 269)
252
4 041
4 293
Total
116 934
31 278
148 212
116 929
2 924
(345)
26 691
143 620
31/12/2013
31/12/2012
Financial institutions
155 929
454 969
Industrial
681 669
579 723
Commercial
79 190
76 638
Touristic
170 447
170 068
Electricity
176 921
178 650
Construction
11 587
11 910
Others
224 919
134 067
Total
1 500 662
1 606 025
(148 212)
(143 620)
Net
1 352 450
1 462 405
31/12/2013
31/12/2012
20 000
20 000
12 000
12 000
(423)
(478)
Total
31 577
31 522
Add/Less :-
- Fair market value for held to maturity investments amount to US$ 31 265 K on December 31, 2013 Compared to US$ 31
945 K on December 31, 2012.
2013
(%) of
Ownership
Sector
31/12/2013
31/12/ 2012
89.04 %
Financial Institution
50 %
Real Estate
132 098
Operating and Development
132 241
46.08 %
Banking
116 290
102 807
41.50 %
Banking
116 138
116 138
Suez Canal Co
24 %
69 061
64 514
20 %
Tourism Projects
37 761
39 029
478 989
462 370
7 641
Total
7 641
The Banks direct participation in Societe Arabe Internationale de Banque (SAIB) is 46.075% and the Bank owns 89.043%
of the share capital of Compagnie Arabe de Financement Internationale (CAFI) which has a participation of 4.36% of the
share capital of (SAIB). Accordingly, the Banks direct and indirect interest in (SAIB) is 50.435%. However, since the Bank
currently does not have sufficient representation in the Board of Directors that represent its ownership share in SAIB,
no consolidated financial statements have been prepared this year.
(13-B) - Investments in associates fair value
The item of Investments in associates fair value reeserve is representing the changes in the Banks share
in equity of the companies invested in that are subsequent to the acquisition and charged directly to
the equity of such companies as follows:
31/12/2013
31/12/2012
66 467
66 467
3 925
(5 515)
9 440
(20 790)
(20 790)
19 358
19 358
Total
68 960
59 520
9 440
ANNUAL REPORT
69
2013
ANNUAL REPORT
70
31/12/2012
Accrued interest
7 332
6 540
40 006
43 217
Total
47 338
49 757
Less : Impairmant
(12 128)
(12 179)
Net
35 210
37 578
* Includes US$ 13 343 K representing the value of assets reverted to the Bank as of December 31, 2013 / 2012
* The sundry debtors as at December 31, 2013 include the amount of U.S $ 7 784 K which represents the amount
disbursed to the employees and the Managing Directors under the account of profits appropriation for the year
2013 which is in the process of being approved by the General Assembly.
31/12/2012
Investment properties
22 058
22 058
Total
22 058
22 058
Land
Buildings &
Furniture Fittings, Cars &
Improvements Equipment
21 000
31 978
32 177
85 155
51
511
562
21 000
32 029
13 137
30 088
43 225
1 462
748
2 210
14 599
30 836
45 435
21 000
17 430
1 852
40 282
21 000
18 841
2 089
41 930
32 688
Total
85 717
2013
31/12/2012
Current accounts
114 477
93 277
Deposits
50 000
164 477
93 277
Current accounts
19 938
20 374
Deposits
417 242
418 398
437 180
438 772
601 657
532 049
31/12/2013
31/12/2012
Time deposits
1 241 223
1 209 959
Current accounts
114 746
144 401
Saving accounts
265 684
277 094
Other deposits
16 014
19 337
Total
1 637 667
1 650 791
a) Local banks
b)Foreign banks
Total A+B
31/12/2012
Three months
20 980
27 758
Six months
28 444
35 674
One year
72 960
80 617
Total
122 384
144 049
Issues:
ANNUAL REPORT
71
2013
ANNUAL REPORT
72
31/12/2012
Accrued interest
7 603
5 065
Unearned interest
12 328
13 376
Sundry creditors *
20 257
19 080
Pension fund
11 415
9 298
Total
51 603
46 819
* The sundry creditors as at December 31, 2013 include an amount of U.S. $12 219K which represents the employees
and the Board of Directors share in the profits appropriation for the year 2013 which is in the process of being
approved by the General Assembly.
Provision
Beginning
no longer
Balance
required
1 960
Provision for
contingencies
5 167
Provision for
general risks
2 200
Total
9 327
31/12/2012
(Used)
Formed
Year end
balance
Beginning
balance
(Used)
Formed
Transferred
Year end
balance
(197)
1 960
5 685
7 645 2 157
1 051
5 919
9 382
(4 215)
5 167
2 200
2 200
2 200
(299)
6 736
15 764
11 539
(4 215)
2 003
9 327
(299)
No. of shares
Nominal
Value
11 628
232 560
38.76
Libya
11 628
232 560
38.76
3 751
75 020
12.503
State of Qatar
1 495
29 900
4.984
747
14 940
2.49
751
15 020
2.503
Total
30 000
600 000
100
2013
31/12/2013
31/12/2012
53 960
50 927
1 329
1 619
15 573
14 301
Total
70 862
66 847
31/12/2013
31/12/2012
Customers deposits
7 049
7 058
8 377
4 854
Certificates of deposits
1 286
1 365
Total
16 712
13 277
31/12/2013
31/12/2012
315
(13 214)
Dividends received
642
636
Total
957
(12 578)
31/12/2013
31/12/2012
12 975
13 447
(322)
(388)
1 449
2 005
Other
874
943
Total
14 976
16 007
ANNUAL REPORT
73
2013
ANNUAL REPORT
74
Libyan
foreign
Bank
Suez Canal
*Co.
*WTC
*SAIB
* SCB
Loans and
advances
50 000
13 360
33 046
96 406
Debit deposits
30 000
30 000
Credit deposits
9 600
50 000
18
476 859
Credit balances
37
169
5 017
Debit balances
2 792
3 806
1 859
750
28 601
1 983
1 114
893
121
Mutual funds
1 859
Contra accounts
12 064
1 714
101
1 000
417 241
14 686
Total
2013
31/12/2012
Letters of credit
131 667
205 479
157 229
108 597
50 871
44 266
614
Total
339 767
358 956
Within one
month
Within
Within
3-6
1-3months months
Within
6-12
months
Within
1-5 years
Over 5
years
Noninterest
bearing
Total
Effective
interest
rate %
Assets
Cash
45 086
45 086
166 833
166 833
0.13
Treasury bills
102 477
48 159
280 685
431 321
3.25
Investments in associates
478 989
478 989
13 817
38 293
52 110
1.78
Trading investments
35 948
35 948
453 239
31 334
4 465
489 038
0.23
256 922
497 659
191 791
2 670
72 957
330 451
1 352 450
3.94
11 996
19 581
31 577
5.92
Other
97 550
97 550
Total
979 471
577 152
196 256
283 355
98 770
350 032
695 866
3 180 902
Customers deposits
945 606
308 691
227 285
156 085
1 637 667
0.43
403 497
48 160
50 000
100 000
--
601 657
1.45
Certificates of deposits
3 208
3 192
3 515
6 480
105 989
122 384
0.97
Other
67 367
67 367
Shareholders equity
751 827
751 827
Total
1 352 311
360 043
280 800
262 565
105 989
819 194
3 180 902
Net position as of
31/12/2013
(372 840)
217 109
(7 219)
350 032
(123 328)
ANNUAL REPORT
75
2013
ANNUAL REPORT
76
Within one
month
Within
Within
3-6
1-3months months
Within
6-12
months
Within
1-5 years
Over 5
years
Noninterest
bearing
Total
Effective
interest
rate %
Assets
Cash
47 427
47 427
104 987
104 987
0.03
Treasury bills
149 604
274 846
424 450
3.9
Investments in associates
462 370
462 370
24 491
8 400
26 697
59 588
2.23
Trading investments
34 551
34 551
359 926
36 597
161
396 684
0.29
232 279
376 944
545 446
8 034
50 119
249 583
1 462 405
3.66
11 994
19 528
31 522
5.79
Other
101 566
101 566
Total
697 192
563 145
545 446
283 041
86 604
277 511
672 611
3 125 550
Customers deposits
1 067 550
304 287
168 413
110 541
1 650 791
0.38
261 977
170 072
100 000
532 049
0.96
Certificates of deposits
2 948
11 673
12 959
22 404
94 065
144 049
0.35
Other
56 146
56 146
Shareholders equity
742 515
742 515
Total
1 332 475
486 032
181 372
232 945
94 065
798 661
3 125 550
Net position as of
31/12/2012
(635 283)
77 113
364 074
50 096
(7 461)
277 511
(126 050)
31- Geographical distribution of assets , liabilities and off balance sheet items
31/12/2013
Arab World
31/12/2012
Assets
Liabilities
and Shareholders
equity
Off balance
2 805 005
3 123 984
309 591
sheet items
Assets
Liabilities
and Shareholders
equity
Off balance
2 792 708
3 065 902
334 856
sheet items
Europe
188 193
4 002
18 383
280 529
4 262
8 601
Asia
528
7 220
9 980
1 177
7 883
12 921
North American
131 740
1 505
732
13 352
1 266
Latin American
231
11
206
12
Other
55 205
44 180
1 081
37 578
46 225
2 578
Total
3 180 902
3 180 902
339 767
3 125 550
3 125 550
358 956
2013
Within 1-3
months
Within 3-6
months
Within 6-12
months
Within 1-5
years
Assets
800 137
486 842
191 791
184 690
183 875
860 958
2 708293
Liabilities
(1 062 112)
(288 989)
(227 561)
(226 764)
(87 812)
(67 367)
(1 960 605)
Equity
(751 827)
(751 827)
Assets
224 420
90 310
4 465
134 613
18 792
472 609
Liabilities
(290 199)
(71 054)
(53 239)
(35 801)
(18 177)
(468 470)
Assets
1 024 557
577 152
196 256
319 303
183 884
879 750
3 180 902
Liabilities
(1 352 311)
(360 043)
(280 800)
(262 565)
(105 989)
(67 367)
(2 429 075)
Equity
(751 827)
(751 827)
Within one
month
Within 1-3
months
Within 3-6
months
Within 6-12
months
Within 1-5
years
Assets
408 767
526 548
545 446
153 697
200 663
766 939
2602 060
Liabilities
(992 766)
(418 149)
(128 608)
(204 790)
(81 685)
(56 146)
(1,882 144)
Equity
(742 515)
(742 515)
Assets
335 852
36 597
129 344
21 697
523 490
Liabilities
(339 709)
(67 883)
(52 764)
(28 155)
(12 380)
(500 891)
Assets
744 619
563 145
545 446
283 041
200 663
788 636
3 125 550
Liabilities
(1 332 475)
(486 032)
(181 372)
(232 945)
(94 065)
(56 146)
(2 383 035)
Equity
(742 515)
(742 515)
Other
currencies
Total
U.S. Dollars
Other
currencies
Total
ANNUAL REPORT
77
2013
ANNUAL REPORT
78
Within one
month
Within 1-3
months
Within 3-6
months
Within 6-12
months
Over one
Assets
1.45
2.62
2.37
1.95
0.92
Liabilities
0.46
0.80
1.11
1.50
0.98
Assets
0.39
0.54
0.68
0.74
Liabilities
0.25
0.51
0.67
0.74
Assets
0.34
1.01
1.95
1.65
0.68
Liabilities
0.06
0.19
0.32
0.42
0.61
Within one
month
Within 1-3
months
Within 3-6
months
Within 6-12
months
Over one
year
Sterling
Euro
year
Assets
1.28
2.42
2.61
2.19
1.0
Liabilities
0.37
0.62
0.97
1.28
1.06
Assets
0.34
0.56
0.79
1.14
Liabilities
0.25
0.53
0.79
1.13
Assets
0.29
0.63
0.89
1.83
1.78
Liabilities
0.25
0.59
0.79
1.06
1.72
Sterling
Euro
2013
Within one
month
Within13months
Within3-6
months
Within612months
Within15years
Over
5years
Total
Assets
Cash
45 086
45 086
166 833
166 833
Treasury bills
102 477
48 159
280 685
431 321
Investments in associates
478 989
478 989
23 439
28 671
52 110
Trading investments
35 948
35 948
31 334
4 465
489 038
256 922
497 659
191 791
2 670
72 957
330 451
1 352 450
11 996
19 581
31 577
Other
75 492
22 058
97 550
Total
1 024 557
577 152
196 256
319 303
183 884
879 750
3 180 902
Customer deposits
945 606
308 691
227 285
156 085
1 637 667
403 497
48 160
50 000
100 000
601 657
Certificates of deposits
3 208
3 192
3 515
6 480
105 989
122 384
Other
67 367
67 367
Shareholders equity
751 827
751 827
Total
1 352 311
360 043
280 800
262 565
105 989
819 194
3 180 902
(327 754)
217 109
(84 544)
56 738
77 895
60 556
Liabilities
ANNUAL REPORT
79
2013
ANNUAL REPORT
80
Within one
month
Within13months
Within3-6
months
Within612months
Within15years
Over
5years
Total
Cash
47 427
47 427
104 987
104 987
Treasury bills
149 604
274 846
424 450
Investments in associates
462 370
462 370
24 491
35 097
59 588
Trading investments
34 551
34 551
359 926
36 597
161
396 684
232 279
376 944
545 446
8 034
50 119
249 583
1 462 405
11 994
19 528
31 522
Other
79 508
22 058
101 566
Total
744 619
563 145
545 446
283 041
200 663
788 636
3 125 550
Customer deposits
1 067 550
304 287
168 413
110 541
1 650 791
261 977
170 072
100 000
532 049
Certificates of deposits
2 948
11 673
12 959
22 404
94 065
144 049
Other
56 146
56 146
Shareholders equity
742 515
742 515
Total
1 332 475
486 032
181 372
232 945
94 065
798 661
3 125 550
Net position as of
31/12/2012
(587 856)
77 113
364 074
50 096
106 598
(10 025)
Assets
Liabilities
2013
31/12/2012
Surplus (deficit)
Surplus (deficit)
US$
(3 130)
(6 699)
EGP
6 651
6 317
Euro
(3 519)
641
31/12/2012
Paid up capital
450 000
450 000
Statutory reserve
99 461
95 483
General reserve
73 582
73 582
36 620
36 049
Tier 1 Capital
18 335
27 049
Total Tier 1
677 998
682 163
28 557
26 692
68 960
59 520
2 191
374
Total Tier 2
99 708
86 586
777 706
768 749
Financial institutions
(240 069)
(226 587)
(15 442)
(16 929)
Loans
(50 000)
Net capital
472 195
525 233
2 938 469
2 112 429
Tier 2 Capital
Less:
810 374
534 281
Operational risk
144 649
150 342
169 883
179 478
4 063 375
2 976 530
11.62%
17.65%
ANNUAL REPORT
81
2013
ANNUAL REPORT
82
31/12/2012
30 554
39 780
(2 147)
(1 972)
(10 072)
(10 759)
18 335
27 049
30 000
30 000
0.611
0.902
2013
Balance Sheet
31/12/2013
31/12/2012
211 919
152 414
489 038
396 684
Treasury Bills
431 321
424 450
35 948
34 551
52 110
59 588
1 352 450
1 462 405
31 577
31 522
Investments in associates
478 989
462 370
35 210
37 578
Investment properties
22 058
22 058
Assets
40 282
41 930
Total assets
3 180 902
3 125 550
601 657
532 049
Customers deposits
1 637 667
1 650 791
Certificates of deposits
122 384
144 049
51 603
46 819
Other provisions
15 764
9 327
Total liabilities
2 429 075
2 383 035
600 000
600 000
Paid-in capital
450 000
450 000
Statutory reserve
99 461
95 483
General reserve
73 582
73 582
Retained earnings
36 620
36 049
4 869
832
68 960
59 520
18 335
27 049
751 827
742 515
3 180 902
3 125 550
Shareholders equity
ANNUAL REPORT
83
2013
ANNUAL REPORT
84
To exist is to change
Henri Bergson
2013
Fifth
Interconnection
with the Bank
86 Assistant Managing Director
ANNUAL REPORT
85
2013
ANNUAL REPORT
86
Since 1/1/2014
a.bahaa@aib.com.eg
General Managers
Mrs. Nadia Ahmed Fouad
General manager
Administrative Affairs And Secretary General of the Bord of Directors
Fax: 23916356
nadia.fouad@aib.com.eg
Mr. Ahmed Rafik Nassef
General manager Treasury
Fax: 23903014
ahmed.nassef@aib.com.eg
Mr . Abdel Monsef M. Ali Awad
General manager Information Technology
Fax: 35706308
monsef.ali@aib.com.eg
Mr. Adel Helmy Elsaid Sallam
General manager Internal Control
Fax: 35706481
adel.sallam@aib.com.eg
Mr. Rami Salaheldin Sobhy
General manager Financial Institutions
Fax: 35706681
ramy.sobhy@aib.com.eg
Mr. Adel Salaheldin Ezzat
General manager Credit
Fax: 23933705
adel.ezzat@aib.com.eg
Mr. Sayed Said Soliman
General manager Central Operations
Fax: 22605859
said.soliman@aib.com.eg
Mr. Hesham Mohamed Hamdy
General manager Risk Management
Fax: 35706478
hesham.hamdy@aib.com.eg
Mr. Amr Mahmoud Atallah
General manager Branches & Banking Services
Fax: 35706469
amr.atalla@aib.com.eg
Mr. Gamal Zaghloul
General manager Financial Control
Fax: 23916275
gamal.zaghloul@aib.com.eg
2013
Branches Managers
Mr. Ali Helmy Elessawy
General Manager Cairo Main Branch
Fax: 23903014
aly.essawy@aib.com.eg
Mohamed Elalfy
Manager (Charge daffaires) Tahrir Branch
Fax: 35695541
mohamed.elalfy@aib.com.eg
Mrs. Wedad Aziz Youssef Saad
Manager Heliopolis Branch
Fax: 24173524
wedad.aziz@aib.com.eg
Mr. Hussein Moheb Kandeil
Manager Mohandessin Branch
Fax: 33029651
hussein.kandil@aib.com.eg
Mrs. Nevien Youssef Ahmed Fawzi
Manager (Charge daffaires) Alexandria Branch
Fax: (03) 4873328
nevin.fawzi@aib.com.eg
Mr. Khaled Abdel akhar
Manager (Charge daffaires) Port Said Branch
khaled.abdelakhar@aib.com.eg
ANNUAL REPORT
87
2013
ANNUAL REPORT
88
Mohandessin Branch
Tahrir Branch
Alexandria Branch
Heliopolis Branch
2013
Central Operations
International Markets
Fax: 22606321
Telephone: 22605914 22605958
Swift: ARIBEGCX 004
Capital Markets
Fax : 23902084
Telephone : 23955068 - 23925736
Money Markets
Fax : 41030932
Telephone : 23917893 23927794 - 23934416
AIBC : Page on the Monitor
AICE : Reuter Dealing Code
ANNUAL REPORT
89
2013
ANNUAL REPORT
90