QNB ALAHLI S.A.E QNB ALAHLI S.A.E
)Egyptian Joint Stock Company(
Consolidated Financial Statements
Together With Limited Review Report
For The Period Ended June 30, 2022
KPMG Hazem Hassan | BDO Khaled & Co. |
Public Accountants & Consultants | Public Accountants & Advisers |
QNB ALAHLI S.A.E
Consolidated Statement of Financial Position
As at 30 June 2022 | (All amounts are shown in Egyptian Pounds) | ||||
Note | June 30, 2022 | December 31, 2021 | |||
Assets: | |||||
Cash and due from Central Bank of Egypt (CBE) | (16) | 27,653,970,367 | 22,641,706,445 | ||
Due from banks | (17) | 20,066,392,292 | 17,311,427,927 | ||
Treasury bills | (18) | 46,996,653,034 | 40,037,854,401 | ||
Trading investments | (19) | 210,954,275 | 409,760,928 | ||
Loans and credit facilities to customers | (20) | 193,992,393,599 | 172,828,554,467 | ||
Financial derivatives | (21) | 118,978,820 | 36,542,265 | ||
Financial Investments: | |||||
- Fair value through other comprehensive income | (22) | 15,143,356,109 | 15,123,771,188 | ||
- Amortized cost | (22) | 86,403,285,476 | 77,380,468,113 | ||
- Fair value through profit or loss | (22) | 74,574,263 | 92,563,379 | ||
Intangible assets | (23) | 272,650,710 | 282,189,711 | ||
Other assets | (24) | 8,704,491,630 | 7,217,604,583 | ||
Deferred tax assets | (32) | 110,495,502 | 70,602,319 | ||
Finance lease | 3,610,905,704 | 3,298,372,384 | |||
Property and equipment | (25) | 2,756,152,346 | 2,837,249,783 | ||
Total assets | 406,115,254,127 | 359,568,667,893 | |||
Liabilities and equity: | |||||
Liabilities: | |||||
Due to banks | (26) | 4,413,429,384 | 3,458,687,747 | ||
Customer deposits | (27) | 337,176,392,418 | 295,491,962,118 | ||
Financial derivatives | (21) | 9,195,659 | 47,683,515 | ||
Other loans | (28) | 3,583,077,325 | 2,882,244,636 | ||
Other liabilities | (29) | 4,986,396,103 | 4,434,170,818 | ||
Other provisions | (30) | 618,056,177 | 526,745,974 | ||
Insurance policyholders' rights | (31) | 4,444,842,091 | 4,034,207,132 | ||
Current income tax payable | 1,938,889,669 | 1,773,988,334 | |||
Defined benefits obligation | (33) | 565,322,551 | 543,536,132 | ||
Total liabilities | 357,735,601,377 | 313,193,226,406 | |||
Equity: | |||||
Issued and paid-up capital | (34) | 10,774,114,830 | 10,774,114,830 | ||
Reserves | (35) | 27,158,487,448 | 22,578,768,494 | ||
Profit for the period / year and retained earnings | (35) | 10,447,009,263 | 13,022,516,998 | ||
Total equity attributable to equity holders of the bank | 48,379,611,541 | 46,375,400,322 | |||
Non-controlling interests | 41,209 | 41,165 | |||
Total equity | 48,379,652,750 | 46,375,441,487 | |||
Total liabilities and equity | 406,115,254,127 | 359,568,667,893 | |||
Mohamed Bedeir | Ali Rashid Al-Mohannadi |
Chief Executive Officer | Chairman of the Board of Directors |
The accompanying notes from (1) to (40) are an integral part of these Consolidated Financial Statements. (Limited review report attached).
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QNB ALAHLI S.A.E
Consolidated Income Statement
For Six Months Period Ended 30 June 2022
(All amounts are shown in Egyptian Pounds)
Note | From April 01, 2022 | From January 01, 2022 | From April 01, 2021 | From January 01, 2021 | ||
To June 30, 2022 | To June 30, 2022 | To June 30, 2021 | To June 30, 2021 | |||
Interest on loans and similar income | (6) | 9,984,385,482 | 19,236,397,729 | 7,781,891,621 | 15,141,089,387 | |
Cost of deposits and similar expense | (6) | (5,335,753,130) | (10,325,787,322) | (3,982,605,197) | (7,770,797,774) | |
Net interest income | 4,648,632,352 | 8,910,610,407 | 3,799,286,424 | 7,370,291,613 | ||
Fee and commission income | (7) | 906,272,231 | 1,732,940,373 | 711,263,500 | 1,409,398,047 | |
Fee and commission expense | (7) | (329,432,382) | (590,655,334) | (217,511,215) | (422,778,161) | |
Net interest, fee and commission income | 5,225,472,201 | 10,052,895,446 | 4,293,038,709 | 8,356,911,499 | ||
Dividend income | (8) | 24,582,728 | 35,907,937 | 15,265,155 | 36,670,829 | |
Net trading income | (9) | 73,302,742 | 152,583,609 | 22,971,981 | 47,992,501 | |
Gain on financial investments | (22) | 21,823,912 | 26,663,150 | 1,836,968 | 3,462,549 | |
Impairment credit losses | (12) | (635,600,961) | (1,658,763,565) | (494,226,893) | (992,088,498) | |
Administrative expenses | (10) | (1,177,814,582) | (2,314,345,104) | (1,004,438,388) | (1,948,898,633) | |
Other operating revenues (expenses) | (11) | 159,929,788 | 640,798,842 | 175,237,186 | 277,877,121 | |
Share of results of associates | - | - | 55,679 | (141,309) | ||
Profit before income tax | 3,691,695,828 | 6,935,740,315 | 3,009,740,397 | 5,781,786,059 | ||
Income tax expense | (13) | (1,145,724,390) | (2,181,453,882) | (878,246,256) | (1,683,716,529) | |
Net profit for the period | 2,545,971,438 | 4,754,286,433 | 2,131,494,141 | 4,098,069,530 | ||
Attributable to: | ||||||
Equity holders of the Bank | 2,545,971,410 | 4,754,286,389 | 2,131,494,142 | 4,098,069,523 | ||
Non-controlling interests | 28 | 44 | (1) | 7 | ||
Net profit for the period | 2,545,971,438 | 4,754,286,433 | 2,131,494,141 | 4,098,069,530 | ||
Earnings per share | (14) | 1.83 | 1.61 |
Mohamed Bedeir | Ali Rashid Al-Mohannadi |
Chief Executive Officer | Chairman of the Board of Directors |
The accompanying notes from (1) to (40) are an integral part of these Consolidated Financial Statements.
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QNB ALAHLI S.A.E
Consolidated Statement of Comprehensive Income
For Six Months Period Ended 30 June 2022 | (All amounts are shown in Egyptian Pounds) | ||||
From April 01, 2022 | From January 01, 2022 | From April 01, 2021 | From January 01, 2021 | ||
To June 30, 2022 | To June 30, 2022 | To June 30, 2021 | To June 30, 2021 | ||
Net profit for the period | 2,545,971,438 | 4,754,286,433 | 2,131,494,141 | 4,098,069,530 |
Other comprehensive income items that will not be reclassified to the Profit or Loss:
Net change in fair value of investments in equity instruments measured at fair value through other comprehensive income
Tax impact related to other comprehensive income that will not be reclassified to the profit or loss
Other comprehensive income items that is or may be reclassified to the profit or loss:
2,348,925 | 4,679,943 | 34,380,643 | 100,730,508 |
)1,426,537( | )8,247,102( | 86,810 | 174,996 |
Net change in fair value of debt instruments measured at fair value through other comprehensive income
Tax impact related to other comprehensive income that will be reclassified to the profit or loss
Expected credit loss for fair value of debt instruments measured at fair value through other comprehensive income
)147,409,763( | )307,485,005( | 10,081,407 | )38,671,102( |
9,570,668 | 25,392,848 | )1,814,915( | 6,149,321 |
)963( | 53,645 | )19,421( | )13,423( |
Total other comprehensive income items for the period net of tax | (136,917,670) | (285,605,671) | 42,714,524 | 68,370,300 |
Total comprehensive income for the period, net of tax | 2,409,053,768 | 4,468,680,762 | 2,174,208,665 | 4,166,439,830 |
Attributable to: | ||||
Equity holders of the Bank | 2,409,053,740 | 4,468,680,718 | 2 174 208 666 | 4,166,439,823 |
Non-controlling interests | 28 | 44 | ( 1) | 7 |
Total comprehensive income | 2,409,053,768 | 4,468,680,762 | 2,174,208,665 | 4,166,439,830 |
for the period, net of tax | ||||
The accompanying notes from (1) to (40) are an integral part of these Consolidated Financial Statements.
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QNB - Qatar National Bank Alahly SAE published this content on 07 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2022 14:33:00 UTC.
