Faisal Islamic Bank of Egypt SAE | Income Statement | Thomson Reuters Eikon 24-May-2018 10:53

Income Statement
Annual Standardised in Thousands of Egyptian Pounds
2017 2016 2015
Period End Date 31-Dec-2017 31-Dec-2016 31-Dec-2015
Interest Income, Bank 6,495,370 5,404,151 4,357,143
Other Non-Bank Income 6,495,370 5,404,151 4,357,143
Total Interest Expense 3,625,036 3,153,634 2,488,231
Interest on Deposit 3,625,036 3,153,634 2,488,231
Net Interest Income 2,870,334 2,250,517 1,868,912

Loan Loss Provision -- -- --

Net Interest Inc. After Loan Loss Prov. 2,870,334 2,250,517 1,868,912

Non-Interest Income, Bank 449,908 2,180,259 266,173

Fees & Commissions from Operations 192,050 173,041 130,955
Comm./Fees from Securities Activities 4,279 3,830 2,251
Dealer Trading Account Profit 19,288 -- --
Investment Securities Gains (1,930) 217,471 (40,657)
Foreign Currency Gains 27,723 23,945 --
Other Unusual Income (136,295) 39,571 20,139
Other Revenue 344,793 1,722,401 153,485
Non-Interest Expense, Bank (858,993) (722,284) (647,255)
Labor & Related Expenses (417,214) (403,762) (374,012)
Depreciation Expense (42,922) (39,966) (57,161)
Dealer Trading Account Loss -- (7,660) --
Other Expense (398,857) (270,896) (216,082)
Net Income Before Taxes 2,461,249 3,708,492 1,487,830
Provision for Income Taxes 648,478 762,418 693,562
Net Income After Taxes 1,812,771 2,946,074 794,268
Minority Interest (35,548) (32,081) (12,276)
Equity In Affiliates -- -- --
U.S. GAAP Adjustment -- -- --
Net Income Before Extra. Items 1,777,223 2,913,993 781,992

Accounting Change -- -- --
Discontinued Operations -- -- --
Extraordinary Item -- -- --
Tax on Extraordinary Items -- -- --
Total Extraordinary Items -- -- --
Net Income 1,777,223 2,913,993 781,992

Faisal Islamic Bank of Egypt SAE | Balance Sheet | Thomson Reuters Eikon 24-May-2018 10:54

Balance Sheet
Annual Standardised in Thousands of Egyptian Pounds
2017 2016 2015
Period End Date 31-Dec-2017 31-Dec-2016 31-Dec-2015
Assets (EGP Thousands)
Cash & Due from Banks 7,372,603 6,096,833 3,650,994
Other Earning Assets, Total 65,320,507 59,629,722 44,006,692
Interest-earning Deposits 32,813,791 9,615,307 7,872,107
FedFundsSold/ScrtyPurch UnderResaleAgrmt 385,130 902,760 212,234
Trading Account Assets 38,550 20,538 31,627
Other Short Term Investments 10,342,487 14,541,695 9,276,283
Securities Held 17,190,835 28,576,396 1,172,469
Securities for Sale 4,549,714 5,973,026 25,441,972
Total Investment Securities 21,740,549 34,549,422 26,614,441
Net Loans 6,834,223 5,654,024 4,861,478
Total Gross Loans 8,985,403 7,456,625 6,452,499
Loan Loss Allowances (1,174,879) (1,078,458) (1,047,828)
Unearned Income (976,301) (724,143) (543,193)
Property/Plant/Equipment, Total - Gross 2,992,708 2,880,725 2,618,934
Buildings - Gross 9,573 8,202 6,238
Land/Improvements - Gross 1,694,745 1,653,320 1,496,818
Machinery/Equipment - Gross -- -- --
Other Property/Plant/Equipment - Gross 1,288,390 1,219,203 1,115,878
Property/Plant/Equipment, Total - Net 1,986,564 1,970,910 1,815,404
Accumulated Depreciation, Total (1,006,144) (909,815) (803,530)
Goodwill, Net -- -- --
Intangibles, Net 10,986 10,037 7,862
Intangibles - Gross 17,458 17,472 16,053
Accumulated Intangible Amortization (6,472) (7,435) (8,191)
Long Term Investments 200,181 185,312 185,865
LT Investment - Affiliate Companies 200,181 185,312 185,865
Other Long Term Assets, Total 2,426 -- --
Defered Income Tax - Long Term Asset 2,426 -- --
Other Assets, Total 3,298,137 3,123,310 2,216,811
Interest Receivable 529,310 918,308 709,094
Other Real Estate Owned 221,755 204,594 259,775
 Other Assets 2,547,072 2,000,408 1,247,942
Total Assets 85,025,627 76,670,148 56,745,106

Liabilities (EGP Thousands)

Accounts Payable 2,862,443 2,784,956 1,886,541
Payable/Accrued -- -- --
Accrued Expenses 4,618 3,627 6,114
Total Deposits 71,544,346 64,228,010 49,344,119
Non-Interest Bearing Deposits 2,823,136 1,688,444 1,593,080
Interest Bearing Deposits 68,530,628 62,202,471 47,372,598
Other Deposits 190,582 337,095 378,441
Other Bearing Liabilities, Total -- -- --
Other Bearing Liabilities -- -- --
Total Short Term Borrowings 270,355 208,288 220,985
Other Short Term Borrowings 270,355 208,288 220,985
Current Port. of LT Debt/Capital Leases -- -- --
Other Current liabilities, Total 110,285 122,163 76,786
Dividends Payable 71,817 89,884 64,265
Income Taxes Payable 38,468 32,279 12,521
Total Long Term Debt 64,995 138,855 97,692
Long Term Debt 64,995 138,855 97,692
Total Debt 335,350 347,143 318,677
Deferred Income Tax 32,682 29,020 33,360
Deferred Income Tax - LT Liability 32,682 29,020 33,360
Minority Interest 524,127 460,603 449,603
Other Liabilities, Total 52,189 42,789 113,448
Reserves 52,189 42,789 113,448
Other Liabilities -- -- --
Total Liabilities 75,466,040 68,018,311 52,228,648

Shareholders Equity (EGP Thousands)

Redeemable Preferred Stock, Total -- -- --
Preferred Stock - Non Redeemable, Net -- -- --
Common Stock, Total 1,775,681 1,580,515 1,059,355
Common Stock 1,775,681 1,580,515 1,059,355
Additional Paid-In Capital -- -- --
Retained Earnings (Accumulated Deficit) 5,761,532 4,712,147 2,611,121
Treasury Stock - Common (9,892) (9,892) (9,892)
ESOP Debt Guarantee -- -- --
Unrealized Gain (Loss) -- -- --
Other Equity, Total 2,032,266 2,369,067 855,874
 Other Equity 154,638 137,203 96,867
Other Comprehensive Income 1,877,628 2,231,864 759,007
Total Equity 9,559,587 8,651,837 4,516,458

Total Liabilities & Shareholders' Equity 85,025,627 76,670,148 56,745,106

24-May-2018 10:53

2014 2013 2012 2011 2009 2008

31-Dec-2014 31-Dec-2013 31-Dec-2012 31-Dec-2011 31-Dec-2009 31-Dec-2008
3,710,701 3,596,131 3,091,132 2,212,155 1,302,543 1,387,892
3,710,701 3,596,131 3,091,132 2,212,155 1,302,543 1,387,892
2,113,999 2,054,273 1,704,921 1,342,031 1,040,930 998,276
2,113,999 2,054,273 1,704,921 1,342,031 1,040,930 998,276
1,596,702 1,541,858 1,386,211 870,124 261,613 389,616

-- -- 31,252 58,726 429,305 584,761

1,596,702 1,541,858 1,354,959 811,398 (167,692) (195,145)

299,786 306,890 1,053,284 646,276 528,820 554,448

89,458 90,124 89,746 79,569 74,397 92,153
-- -- -- -- -- --
-- -- -- -- -- --
17,242 22,546 (41,807) (146,899) 318,332 295,287
-- -- -- -- 8,330 53,222
(16,879) (53,877) -- -- -- --
209,965 248,097 1,005,345 713,606 127,761 113,786
(513,471) (448,137) (1,242,641) (965,155) (237,339) (274,064)
(323,827) (290,201) -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(189,644) (157,936) (1,242,641) (965,155) (237,339) (274,064)
1,383,017 1,400,611 1,165,602 492,519 123,789 85,239
694,136 650,164 516,016 272,778 0 0
688,881 750,447 649,586 219,741 123,789 85,239
(24,654) (31,069) (13,857) (24,036) -- --
-- -- -- -- -- --
-- -- -- -- -- --
664,227 719,378 635,729 195,705 123,789 85,239

-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
 664,227 719,378 635,729 195,705 123,789 85,239

24-May-2018 10:54

2014 2013 2012 2011 2009 2008

31-Dec-2014 31-Dec-2013 31-Dec-2012 31-Dec-2011 31-Dec-2009 31-Dec-2008

3,890,817 3,416,168 2,942,433 3,394,367 2,624,379 1,618,678

38,639,363 35,955,791 32,641,874 26,311,063 6,016,429 5,355,189
7,018,397 7,139,284 3,331,785 5,177,271 55,279 73,930
-- -- -- -- -- --
34,554 35,752 40,625 115,075 347,811 294,421
9,071,455 20,619,471 15,297,975 6,366,152 -- --
18,383 20,335 16,804 14,079 2,597,851 2,290,584
22,496,574 8,140,949 13,954,685 14,638,486 3,015,488 2,696,254
22,514,957 8,161,284 13,971,489 14,652,565 5,613,339 4,986,838
4,436,644 3,643,010 2,846,589 2,957,596 17,842,648 15,719,362
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
2,585,545 2,490,286 2,358,985 2,000,177 587,505 563,964
6,052 4,138 476 476 367,474 357,630
1,452,779 1,395,732 1,353,471 1,225,268 115,196 114,127
-- -- -- -- 75,289 66,958
1,126,714 1,090,416 1,005,038 774,433 29,546 25,249
1,859,149 1,840,672 1,781,395 1,489,436 461,723 453,045
(726,396) (649,614) (577,590) (510,741) (125,782) (110,919)
5,755 11,510 17,265 23,020 -- --
12,601 11,670 12,087 0 -- --
-- -- -- -- -- --
-- -- -- -- -- --
62,800 222,192 217,051 57,278 460,183 432,373
62,800 222,192 217,051 57,278 460,183 432,373
-- -- -- -- -- --
-- -- -- -- -- --
2,470,547 1,719,696 1,933,345 1,944,543 265,586 237,288
-- -- -- -- -- --
-- -- -- -- -- --
 2,470,547 1,719,696 1,933,345 1,944,543 265,586 237,288
51,377,676 46,820,709 42,392,039 36,177,303 27,670,948 23,815,935

5,659 3,824 -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
44,963,340 40,962,453 37,467,294 32,357,734 25,559,844 22,014,618
-- -- -- -- 18,652,610 15,765,547
-- -- 37,274,707 32,123,922 6,803,585 6,134,744
44,581,823 40,686,275 -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
131,669 248,591 -- -- -- --
131,669 248,591 -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
160,563 219,903 245,838 227,051 0 0
160,563 219,903 245,838 227,051 -- --
292,232 468,494 245,838 227,051 0 0
7,259 10,679 -- -- -- --
7,259 10,679 -- -- -- --
457,944 448,844 440,888 368,289 -- --
1,845,291 1,477,853 1,462,933 1,055,151 536,747 350,358
42,124 98,282 -- -- -- --
1,803,167 1,379,571 1,462,933 1,055,151 536,747 350,358
47,571,725 43,372,147 39,616,953 34,008,225 26,096,591 22,364,976

-- -- -- -- -- --
-- -- -- -- -- --
1,059,355 1,059,355 1,059,355 1,059,355 1,059,355 1,059,355
1,059,355 1,059,355 1,059,355 1,059,355 1,059,355 1,059,355
-- -- -- -- -- --
2,756,488 2,391,561 1,715,731 1,109,723 330,929 282,733
(9,892) (2,354) -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- 184,073 108,871
 -- -- -- -- -- --
-- -- -- -- 184,073 108,871
3,805,951 3,448,562 2,775,086 2,169,078 1,574,357 1,450,959

51,377,676 46,820,709 42,392,039 36,177,303 27,670,948 23,815,935

 2007 2006 2005 2004 2003 2002
31-Dec-2007 31-Dec-2006 31-Dec-2005 31-Dec-2004 31-Dec-2003 31-Dec-2002
1,223,324 928,529 743,267 541,372 494,537 492,256
1,223,324 928,529 743,267 541,372 494,537 492,256
1,047,220 815,021 628,163 516,087 490,387 465,091
1,047,220 815,021 628,163 516,087 490,387 465,091
176,104 113,508 115,104 25,285 4,150 27,165

297,678 82,686 72,603 38,910 60,121 31,575

(121,574) 30,822 42,501 (13,625) (55,971) (4,410)

256,610 212,350 170,315 182,908 269,905 103,256

83,768 58,556 41,020 27,035 22,428 28,907
-- -- -- -- -- --
-- -- -- -- -- --
146,444 157,966 78,696 151,597 134,269 68,902
3,837 (4,172) 50,599 4,276 113,208 2,181
-- -- -- -- -- --
22,561 0 -- -- -- 3,266
(135,036) (124,656) (112,768) (96,732) (87,510) (81,595)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(135,036) (124,656) (112,768) (96,732) (87,510) (81,595)
0 118,516 100,048 72,551 126,424 17,251
0 0 0 0 0 0
0 118,516 100,048 72,551 126,424 17,251
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
0 118,516 100,048 72,551 126,424 17,251

-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
 0 118,516 100,048 72,551 126,424 17,251

2007 2006 2005 2004 2003 2002

31-Dec-2007 31-Dec-2006 31-Dec-2005 31-Dec-2004 31-Dec-2003 31-Dec-2002

1,302,630 1,343,818 1,039,873 763,035 687,463 664,269

3,413,234 2,877,076 2,997,624 2,315,802 1,378,331 701,366
45,825 89,262 197,195 204,975 214,250 200,105
-- -- -- -- -- --
1,243,241 918,527 501,077 517,121 196,381 73,241
-- -- -- -- -- --
1,565,838 1,497,746 1,852,665 1,246,495 655,137 242,116
558,330 371,541 446,687 347,211 312,563 185,904
2,124,168 1,869,287 2,299,352 1,593,706 967,700 428,020
15,928,904 14,043,393 11,502,497 11,160,011 11,129,221 9,056,628
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
529,323 512,066 -- -- -- --
334,079 325,673 -- -- -- --
114,259 113,711 -- -- -- --
57,926 50,557 -- -- -- --
23,059 22,125 -- -- -- --
431,886 428,697 424,707 359,285 324,071 294,949
(97,437) (83,369) -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
168,132 228,182 186,777 212,423 204,602 171,401
168,132 228,182 186,777 212,423 204,602 171,401
-- -- -- -- -- --
-- -- -- -- -- --
474,284 314,080 266,528 237,505 215,008 202,360
-- -- -- -- -- --
-- -- -- -- -- --
 474,284 314,080 266,528 237,505 215,008 202,360
21,719,070 19,235,246 16,418,006 15,048,061 13,938,696 11,090,973

-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
20,396,914 17,674,652 15,070,603 13,982,970 12,848,534 10,314,544
14,379,442 12,938,408 11,278,102 10,868,902 10,318,336 8,061,029
5,844,876 4,537,979 3,423,531 2,686,460 1,975,200 1,398,441
-- -- 98,822 87,842 80,601 78,765
-- -- -- -- -- --
-- -- -- -- -- --
60,000 60,000 60,000 60,000 60,000 60,000
60,000 60,000 60,000 60,000 60,000 60,000
-- -- -- -- -- --
-- 69,096 -- -- -- --
-- 69,096 -- -- -- --
-- -- -- -- -- --
0 0 0 0 0 0
-- -- -- -- -- --
60,000 60,000 60,000 60,000 60,000 60,000
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
461,884 754,165 602,878 384,201 461,057 342,792
-- -- -- -- -- --
461,884 754,165 602,878 384,201 461,057 342,792
20,918,798 18,557,913 15,733,481 14,427,171 13,369,591 10,717,336

-- -- -- -- -- --
-- -- -- -- -- --
528,103 528,103 528,103 263,698 263,698 263,698
528,103 528,103 528,103 263,698 263,698 263,698
-- -- -- -- -- --
142,583 149,231 156,422 357,192 305,407 109,939
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
129,586 -- -- -- -- --
 -- -- -- -- -- --
129,586 -- -- -- -- --
800,272 677,334 684,525 620,890 569,105 373,637

21,719,070 19,235,247 16,418,006 15,048,061 13,938,696 11,090,973

 2001 2000
31-Dec-2001 31-Dec-2000
520,053 376,195
520,053 376,195
497,938 350,914
497,938 350,914
22,115 25,281

25,105 33,000
(2,990) (7,719)

118,774 95,193
111,104 68,848
-- --
-- --
7,670 26,345
-- --
-- --
-- --
(76,586) (55,242)
-- --
-- --
-- --
(76,586) (55,242)
39,198 32,232
0 0
39,198 32,232
-- --
-- --
-- --
39,198 32,232

-- --
-- --
-- --
-- --
-- --
 39,198 32,232

2001 2000
31-Dec-2001 31-Dec-2000

661,610 770,151
531,100 505,743
195,713 178,006
-- --
268,674 243,407
-- --
66,713 84,330
-- --
66,713 84,330
8,369,621 8,252,904
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
260,453 230,175
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
149,941 133,538
-- --
-- --
 149,941 133,538
9,972,725 9,892,511

-- --
-- --
-- --
9,172,309 8,979,864
8,445,761 8,180,187
-- --
74,859 81,992
39,198 32,231
39,198 32,231
-- --
-- --
-- --
-- --
-- --
-- --
0 0
-- --
0 0
-- --
-- --
-- --
416,963 539,383
-- --
416,963 539,383
9,628,470 9,551,478

-- --
-- --
263,698 263,698
263,698 263,698
-- --
80,558 77,334
-- --
-- --
-- --
-- --
 -- --
-- --
344,256 341,032

9,972,726 9,892,510
Faisal Islamic Bank of Egypt SAE | Income Statement | Thomson Reuters Eikon 24-May-2018 10:53

Income Statement
Annual Standardised in Thousands of Egyptian Pounds
2017 2018 Adjusted 2018
Period End Date 31-Dec-2017 31-Dec-18 31-Dec-18
Interest Income, Bank 6,495,370 7,403,262 7,403,262
Other Non-Bank Income 6,495,370 7,403,262 7,403,262
Total Interest Expense 3,625,036 4,131,726 4,131,726
Interest on Deposit 3,625,036 4,131,726 4,131,726
Net Interest Income 2,870,334 3,271,536 3,271,536

Non-Interest Income, Bank 449,908 512,794 512,794

Fees & Commissions from Operations 192,050 218,894 218,894
Comm./Fees from Securities Activities 4,279 4,877 4,877
Dealer Trading Account Profit 19,288 21,984 21,984
Investment Securities Gains (1,930) (2,200) (2,200)
Foreign Currency Gains 27,723 31,598 31,598
Other Unusual Income (136,295) (155,346) (155,346)
Other Revenue 344,793 392,987 392,987
Non-Interest Expense, Bank (858,993) (979,059) (979,059)
Labor & Related Expenses (417,214) (475,530) (475,530)
Depreciation Expense (42,922) (48,921) (48,921)
Dealer Trading Account Loss -- #VALUE! #VALUE!
Other Expense (398,857) (454,607) (454,607)
Net Income Before Taxes 2,461,249 2,805,271 2,805,271
Provision for Income Taxes 648,478 701,318 701,318
Net Income After Taxes 1,812,771 2,103,953 2,103,953
Minority Interest (35,548) (35,548) (35,548)
Equity In Affiliates -- -- --
U.S. GAAP Adjustment -- -- --
Net Income Before Extra. Items 1,777,223 2,068,405 2,068,405

Accounting Change -- -- --
Discontinued Operations -- -- --
Extraordinary Item -- -- --
Tax on Extraordinary Items -- -- --
Total Extraordinary Items -- -- --
Net Income 1,777,223 2,068,405 2,068,405
Dividends 10% 206,841 206,841
Faisal Islamic Bank of Egypt SAE | Balance Sheet | Thomson Reuters Eikon 24-May-2018 10:54

Balance Sheet
Annual Standardised in Thousands of Egyptian Pounds
2017 2017 2017
Period End Date 31-Dec-2017 31-Dec-2017 31-Dec-2017
Assets (EGP Thousands)
Cash & Due from Banks 7,372,603 8,403,111 8,403,111
Other Earning Assets, Total 65,320,507 74,450,700 74,450,700
Interest-earning Deposits 32,813,791 37,400,348 37,400,348
FedFundsSold/ScrtyPurch UnderResaleAgrmt 385,130 438,962 438,962
Trading Account Assets 38,550 43,938 43,938
Other Short Term Investments 10,342,487 11,788,111 11,788,111
Securities Held 17,190,835 19,593,689 19,593,689
Securities for Sale 4,549,714 5,185,652 5,185,652
Total Investment Securities 21,740,549 24,779,341 24,779,341
Net Loans 6,834,223 7,789,479 7,789,479
Total Gross Loans 8,985,403 10,241,340 10,241,340
Loan Loss Allowances (1,174,879) (1,339,098) (1,339,098)
Unearned Income (976,301) (1,112,764) (1,112,764)
Property/Plant/Equipment, Total - Gross 2,992,708 3,411,015 3,411,015
Buildings - Gross 9,573 10,911 10,911
Land/Improvements - Gross 1,694,745 1,931,628 1,931,628
Machinery/Equipment - Gross -- #VALUE! #VALUE!
Other Property/Plant/Equipment - Gross 1,288,390 1,468,475 1,468,475
Property/Plant/Equipment, Total - Net 1,986,564 2,264,237 2,264,237
Accumulated Depreciation, Total (1,006,144) (1,146,778) (1,146,778)
Goodwill, Net -- #VALUE! #VALUE!
Intangibles, Net 10,986 12,522 12,522
Intangibles - Gross 17,458 19,898 19,898
Accumulated Intangible Amortization (6,472) (7,377) (7,377)
Long Term Investments 200,181 228,161 228,161
LT Investment - Affiliate Companies 200,181 228,161 228,161
Other Long Term Assets, Total 2,426 2,765 2,765
Defered Income Tax - Long Term Asset 2,426 2,765 2,765
Other Assets, Total 3,298,137 3,759,135 3,759,135
Interest Receivable 529,310 603,294 603,294
Other Real Estate Owned 221,755 252,751 252,751
Other Assets 2,547,072 2,903,090 2,903,090
Total Assets 85,025,627 96,910,109 96,910,109
Liabilities (EGP Thousands)
Accounts Payable 2,862,443 3,262,542 3,262,542
Payable/Accrued -- #VALUE! #VALUE!
Accrued Expenses 4,618 5,263 5,263
Total Deposits 71,544,346 81,544,478 81,544,478
Non-Interest Bearing Deposits 2,823,136 3,217,741 3,217,741
Interest Bearing Deposits 68,530,628 78,109,517 78,109,517
Other Deposits 190,582 217,221 217,221
Other Bearing Liabilities, Total -- #VALUE! #VALUE!
Other Bearing Liabilities -- #VALUE! #VALUE!
Total Short Term Borrowings 270,355 308,144 308,144
Other Short Term Borrowings 270,355 308,144 308,144
Current Port. of LT Debt/Capital Leases -- #VALUE! #VALUE!
Other Current liabilities, Total 110,285 125,700 125,700
Dividends Payable 71,817 81,855 81,855
Income Taxes Payable 38,468 43,845 43,845
Total Long Term Debt 64,995 64,995 (443,996)
Long Term Debt 64,995 64,995 (443,996)
Total Debt 335,350 382,224 382,224
Deferred Income Tax 32,682 37,250 37,250
Deferred Income Tax - LT Liability 32,682 37,250 37,250
Minority Interest 524,127 597,387 597,387
Other Liabilities, Total 52,189 52,189 52,189
Reserves 52,189 52,189 52,189
Other Liabilities -- -- --
Total Liabilities 75,466,040 85,997,949 85,488,957

Shareholders Equity (EGP Thousands)

Redeemable Preferred Stock, Total -- -- --
Preferred Stock - Non Redeemable, Net -- -- --
Common Stock, Total 1,775,681 1,775,681 1,775,681
Common Stock 1,775,681 1,775,681 1,775,681
Additional Paid-In Capital -- -- --
Retained Earnings (Accumulated Deficit) 5,761,532 7,623,097 7,623,097
Treasury Stock - Common (9,892) (9,892) (9,892)
ESOP Debt Guarantee -- -- --
Unrealized Gain (Loss) -- -- --
Other Equity, Total 2,032,266 2,032,266 2,032,266
Other Equity 154,638 154,638 154,638
Other Comprehensive Income 1,877,628 1,877,628 1,877,628
Total Equity 9,559,587 11,421,152 11,421,152
Total Liabilities & Shareholders' Equity 85,025,627 97,419,100 96,910,109
check point 0 (508,991) 0
May-2018 10:53 2017
6,495,370
6,495,370

2019 Adjusted 2019 2020 Adjusted 2020

31-Dec-19 31-Dec-19 31-Dec-20 31-Dec-20
8,349,660 8,349,660 9,296,057 9,296,057
8,349,660 8,349,660 9,296,057 9,296,057
4,659,907 4,659,907 5,188,087 5,188,087
4,659,907 4,659,907 5,188,087 5,188,087
3,689,753 3,689,753 4,107,971 4,107,971

578,347 578,347 643,900 643,900

246,876 246,876 274,859 274,859
5,501 5,501 6,124 6,124
24,794 24,794 27,605 27,605
(2,481) (2,481) (2,762) (2,762)
35,637 35,637 39,677 39,677
(175,204) (175,204) (195,063) (195,063)
443,224 443,224 493,462 493,462
(1,104,217) (1,104,217) (1,229,375) (1,229,375)
(536,320) (536,320) (597,109) (597,109)
(55,175) (55,175) (61,429) (61,429)
#VALUE! #VALUE! #VALUE! #VALUE!
(512,722) (512,722) (570,837) (570,837)
3,163,883 3,163,883 3,522,496 3,522,496
790,971 790,971 880,624 880,624
2,372,912 2,372,912 2,641,872 2,641,872
(35,548) (35,548) (35,548) (35,548)
-- -- -- --
-- -- -- --
2,337,364 2,337,364 2,606,324 2,606,324

-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
2,337,364 2,337,364 2,606,324 2,606,324
233,736 233,736 260,632 260,632
 2017 2017 2017 2017
31-Dec-2017 31-Dec-2017 31-Dec-2017 31-Dec-2017

9,477,324 9,477,324 10,551,538 10,551,538

83,968,121 83,968,121 93,485,541 93,485,541
42,181,430 42,181,430 46,962,511 46,962,511
495,076 495,076 551,191 551,191
49,555 49,555 55,172 55,172
13,295,047 13,295,047 14,801,982 14,801,982
22,098,452 22,098,452 24,603,216 24,603,216
5,848,560 5,848,560 6,511,469 6,511,469
27,947,013 27,947,013 31,114,685 31,114,685
8,785,248 8,785,248 9,781,018 9,781,018
11,550,544 11,550,544 12,859,748 12,859,748
(1,510,282) (1,510,282) (1,681,466) (1,681,466)
(1,255,014) (1,255,014) (1,397,265) (1,397,265)
3,847,062 3,847,062 4,283,110 4,283,110
12,306 12,306 13,701 13,701
2,178,559 2,178,559 2,425,489 2,425,489
#VALUE! #VALUE! #VALUE! #VALUE!
1,656,198 1,656,198 1,843,921 1,843,921
2,553,686 2,553,686 2,843,135 2,843,135
(1,293,377) (1,293,377) (1,439,975) (1,439,975)
#VALUE! #VALUE! #VALUE! #VALUE!
14,122 14,122 15,723 15,723
22,442 22,442 24,986 24,986
(8,320) (8,320) (9,263) (9,263)
257,328 257,328 286,495 286,495
257,328 257,328 286,495 286,495
3,119 3,119 3,472 3,472
3,119 3,119 3,472 3,472
4,239,685 4,239,685 4,720,235 4,720,235
680,417 680,417 757,539 757,539
285,061 285,061 317,372 317,372
3,274,207 3,274,207 3,645,324 3,645,324
109,298,633 109,298,633 121,687,156 121,687,156
 3,679,610 3,679,610 4,096,677 4,096,677
#VALUE! #VALUE! #VALUE! #VALUE!
5,936 5,936 6,609 6,609
91,968,733 91,968,733 102,392,988 102,392,988
3,629,081 3,629,081 4,040,422 4,040,422
88,094,663 88,094,663 98,079,809 98,079,809
244,989 244,989 272,758 272,758
#VALUE! #VALUE! #VALUE! #VALUE!
#VALUE! #VALUE! #VALUE! #VALUE!
347,536 347,536 386,927 386,927
347,536 347,536 386,927 386,927
#VALUE! #VALUE! #VALUE! #VALUE!
141,769 141,769 157,838 157,838
92,319 92,319 102,783 102,783
49,450 49,450 55,055 55,055
(443,996) (1,137,685) (1,137,685) (2,073,438)
(443,996) (1,137,685) (1,137,685) (2,073,438)
431,085 431,085 479,947 479,947
42,012 42,012 46,774 46,774
42,012 42,012 46,774 46,774
673,754 673,754 750,121 750,121
52,189 52,189 52,189 52,189
52,189 52,189 52,189 52,189
-- -- -- --
96,467,543 95,773,853 106,752,438 105,816,686

-- -- -- --
-- -- -- --
1,775,681 1,775,681 1,775,681 1,775,681
1,775,681 1,775,681 1,775,681 1,775,681
-- -- -- --
9,726,725 9,726,725 12,072,416 12,072,416
(9,892) (9,892) (9,892) (9,892)
-- -- -- --
-- -- -- --
2,032,266 2,032,266 2,032,266 2,032,266
154,638 154,638 154,638 154,638
1,877,628 1,877,628 1,877,628 1,877,628
13,524,780 13,524,780 15,870,471 15,870,471
109,992,322 109,298,633 122,622,909 121,687,156
(693,689) 0 (935,753) 0
 2018 2019 2020

7,403,262 8,349,660 9,296,057

14% 13% 11%
Timeline Values Forecast Lower Confidence Bound Upper Confidence Bound
2014 3,710,701
2015 4,357,143
2016 5,404,151
2017 6,495,370 6,495,370 6,495,370 6,495,370
2018 7,403,262 7,080,632 7,725,892
2019 8,349,660 8,017,022 8,682,298
2020 9,296,057 8,953,628 9,638,487
12,000,000

10,000,000

8,000,000

6,000,000

4,000,000

2,000,000

0
2014 2015

Values Fore
0,000

0,000

0,000

0,000

0,000

0,000

0
2014 2015 2016 2017 2018 2019 2020

Values Forecast Lower Confidence Bound Upper Confidence Bound

Faisal Islamic Bank of Egypt SAE | Income Statement | Thomson Reuters Eikon 24-May-2018 10:53

Income Statement
Annual Standardised in Thousands of Egyptian Pounds
2017 Adjusted 2018 Adjusted 2019
Period End Date 31-Dec-2017 31-Dec-18 31-Dec-19
Interest Income, Bank 6,495,370 7,403,262 8,349,660
Other Non-Bank Income 6,495,370 7,403,262 8,349,660
Total Interest Expense 3,625,036 4,131,726 4,659,907
Interest on Deposit 3,625,036 4,131,726 4,659,907
Net Interest Income 2,870,334 3,271,536 3,689,753

Non-Interest Income, Bank 449,908 512,794 578,347

Fees & Commissions from Operations 192,050 218,894 246,876
Comm./Fees from Securities Activities 4,279 4,877 5,501
Dealer Trading Account Profit 19,288 21,984 24,794
Investment Securities Gains (1,930) (2,200) (2,481)
Foreign Currency Gains 27,723 31,598 35,637
Other Unusual Income (136,295) (155,346) (175,204)
Other Revenue 344,793 392,987 443,224
Non-Interest Expense, Bank (858,993) (979,059) (1,104,217)
Labor & Related Expenses (417,214) (475,530) (536,320)
Depreciation Expense (42,922) (48,921) (55,175)
Dealer Trading Account Loss -- #VALUE! #VALUE!
Other Expense (398,857) (454,607) (512,722)
Net Income Before Taxes 2,461,249 2,805,271 3,163,883
Provision for Income Taxes 648,478 701,318 790,971
Net Income After Taxes 1,812,771 2,103,953 2,372,912
Minority Interest (35,548) (35,548) (35,548)
Equity In Affiliates -- -- --
U.S. GAAP Adjustment -- -- --
Net Income Before Extra. Items 1,777,223 2,068,405 2,337,364

Accounting Change -- -- --
Discontinued Operations -- -- --
Extraordinary Item -- -- --
Tax on Extraordinary Items -- -- --
Total Extraordinary Items -- -- --
Net Income 1,777,223 2,068,405 2,337,364
Dividends 10% 206,841 233,736

Faisal Islamic Bank of Egypt SAE | Balance Sheet | Thomson Reuters Eikon 24-May-2018 10:54
Balance Sheet
Annual Standardised in Thousands of Egyptian Pounds
2017 2017 2017
Period End Date 31-Dec-2017 31-Dec-2017 31-Dec-2017
Assets (EGP Thousands)
Cash & Due from Banks 7,372,603 8,403,111 9,477,324
Other Earning Assets, Total 65,320,507 74,450,700 83,968,121
Interest-earning Deposits 32,813,791 37,400,348 42,181,430
FedFundsSold/ScrtyPurch UnderResaleAgrmt 385,130 438,962 495,076
Trading Account Assets 38,550 43,938 49,555
Other Short Term Investments 10,342,487 11,788,111 13,295,047
Securities Held 17,190,835 19,593,689 22,098,452
Securities for Sale 4,549,714 5,185,652 5,848,560
Total Investment Securities 21,740,549 24,779,341 27,947,013
Net Loans 6,834,223 7,789,479 8,785,248
Total Gross Loans 8,985,403 10,241,340 11,550,544
Loan Loss Allowances (1,174,879) (1,339,098) (1,510,282)
Unearned Income (976,301) (1,112,764) (1,255,014)
Property/Plant/Equipment, Total - Gross 2,992,708 3,411,015 3,847,062
Buildings - Gross 9,573 10,911 12,306
Land/Improvements - Gross 1,694,745 1,931,628 2,178,559
Machinery/Equipment - Gross -- #VALUE! #VALUE!
Other Property/Plant/Equipment - Gross 1,288,390 1,468,475 1,656,198
Property/Plant/Equipment, Total - Net 1,986,564 2,264,237 2,553,686
Accumulated Depreciation, Total (1,006,144) (1,146,778) (1,293,377)
Goodwill, Net -- #VALUE! #VALUE!
Intangibles, Net 10,986 12,522 14,122
Intangibles - Gross 17,458 19,898 22,442
Accumulated Intangible Amortization (6,472) (7,377) (8,320)
Long Term Investments 200,181 228,161 257,328
LT Investment - Affiliate Companies 200,181 228,161 257,328
Other Long Term Assets, Total 2,426 2,765 3,119
Defered Income Tax - Long Term Asset 2,426 2,765 3,119
Other Assets, Total 3,298,137 3,759,135 4,239,685
Interest Receivable 529,310 603,294 680,417
Other Real Estate Owned 221,755 252,751 285,061
Other Assets 2,547,072 2,903,090 3,274,207
Total Assets 85,025,627 96,910,109 109,298,633

Liabilities (EGP Thousands)

Accounts Payable 2,862,443 3,262,542 3,679,610
Payable/Accrued -- #VALUE! #VALUE!
Accrued Expenses 4,618 5,263 5,936
Total Deposits 71,544,346 81,544,478 91,968,733
Non-Interest Bearing Deposits 2,823,136 3,217,741 3,629,081
Interest Bearing Deposits 68,530,628 78,109,517 88,094,663
Other Deposits 190,582 217,221 244,989
Other Bearing Liabilities, Total -- #VALUE! #VALUE!
Other Bearing Liabilities -- #VALUE! #VALUE!
Total Short Term Borrowings 270,355 308,144 347,536
Other Short Term Borrowings 270,355 308,144 347,536
Current Port. of LT Debt/Capital Leases -- #VALUE! #VALUE!
Other Current liabilities, Total 110,285 125,700 141,769
Dividends Payable 71,817 81,855 92,319
Income Taxes Payable 38,468 43,845 49,450
Total Long Term Debt 64,995 (443,996) (1,137,685)
Long Term Debt 64,995 (443,996) (1,137,685)
Total Debt 335,350 382,224 431,085
Deferred Income Tax 32,682 37,250 42,012
Deferred Income Tax - LT Liability 32,682 37,250 42,012
Minority Interest 524,127 597,387 673,754
Other Liabilities, Total 52,189 52,189 52,189
Reserves 52,189 52,189 52,189
Other Liabilities -- -- --
Total Liabilities 75,466,040 85,488,957 95,773,853

Shareholders Equity (EGP Thousands)

Redeemable Preferred Stock, Total -- -- --
Preferred Stock - Non Redeemable, Net -- -- --
Common Stock, Total 1,775,681 1,775,681 1,775,681
Common Stock 1,775,681 1,775,681 1,775,681
Additional Paid-In Capital -- -- --
Retained Earnings (Accumulated Deficit) 5,761,532 7,623,097 9,726,725
Treasury Stock - Common (9,892) (9,892) (9,892)
ESOP Debt Guarantee -- -- --
Unrealized Gain (Loss) -- -- --
Other Equity, Total 2,032,266 2,032,266 2,032,266
Other Equity 154,638 154,638 154,638
Other Comprehensive Income 1,877,628 1,877,628 1,877,628
Total Equity 9,559,587 11,421,152 13,524,780

Total Liabilities & Shareholders' Equity 85,025,627 96,910,109 109,298,633

check point 0 0 0
ay-2018 10:53 2017 2018 2019 2020
6,495,370
6,495,370 7,403,262 8,349,660 9,296,057
14% 13% 11%
Adjusted 2020
31-Dec-20
9,296,057
9,296,057
5,188,087
5,188,087
4,107,971

643,900
274,859
6,124
27,605
(2,762)
39,677
(195,063)
493,462
(1,229,375)
(597,109)
(61,429)
#VALUE!
(570,837)
3,522,496
880,624
2,641,872
(35,548)
--
--
2,606,324

--
--
--
--
--
2,606,324
260,632
 2017
31-Dec-2017

10,551,538
93,485,541
46,962,511
551,191
55,172
14,801,982
24,603,216
6,511,469
31,114,685
9,781,018
12,859,748
(1,681,466)
(1,397,265)
4,283,110
13,701
2,425,489
#VALUE!
1,843,921
2,843,135
(1,439,975)
#VALUE!
15,723
24,986
(9,263)
286,495
286,495
3,472
3,472
4,720,235
757,539
317,372
3,645,324
121,687,156

4,096,677
#VALUE!
6,609
102,392,988
4,040,422
98,079,809
272,758
#VALUE!
#VALUE!
386,927
386,927
#VALUE!
157,838
102,783
55,055
(2,073,438)
(2,073,438)
479,947
46,774
46,774
750,121
52,189
52,189
--
105,816,686

--
--
1,775,681
1,775,681
--
12,072,416
(9,892)
--
--
2,032,266
154,638
1,877,628
15,870,471

121,687,156
0
FCFF (Free Cash Flow to the Firm):
FCFF = EBIT * (1 - Tax Rate) + Depreciation - Capital Expenditures -

2017 2018 2019

EBIT 2,461,249 2,805,271 3,163,883

EBIT * (1 - Tax Rate) 2,103,953 2,372,912

Depreciation (48,921) (55,175)

Property/Plant/Equipment, Total - Net 1,986,564 2,264,237 2,553,686

Capital Expenditures 228,751 234,274

current assets 79,527,333 90,643,289 102,230,693

current liabilities 74,792,047 85,246,127 96,143,584
Change in Working Capital 661,876 689,947

FCFF (Free Cash Flow to the Firm) 1,164,405 1,393,516

Enterprise Value:
Enterprise Value (EV) = Market Capitalization + Total Debt - Cash and Cash Eq
Market Capitalization = Share Price * Number of Shares Outstanding

2017 2018 2019

Share Price 9.26 9.04

Number of Shares Outstanding 365,672 365,672 365,672
Market Capitalization 3,386,123 3,305,675

Total Debt 382,224 431,085

Cash and Cash Equivalents 8,403,111 9,477,324
Enterprise Value (EV) (4,634,764) (5,740,564)

Fair Value of the Stock

2018 2019
Free Cash Flow FCF 1,164,405 1,393,516

Present Value of FCFF 1,045,616 1,122,875

Terminal Value
Present Value of Terminal Value 13,075,497
Enterprise Value 16,449,307
Equity Value 26,520,898
Number of Shares Outstanding 365,672
Fair Value per Share 72.52

Total Sales 6,495,370 7,403,262 8,349,660

collected during the year 60% 4,441,957 5,009,796
deferred to the upcoming year 40% 2,961,305
Cash Receipt 4,441,957 7,971,101

Total Purchases 70% 5,182,284 5,844,762

paid during the year 80% 4,145,827 4,675,809
deferred to the upcoming year 20% 829,165
Payments 4,145,827 5,504,975

Net Cash Flow 296,130 2,466,126

Beginning Cash Balance 7,372,603 7,668,733

Ending Cash Balance 7,668,733 10,134,859
Minimum Cash Needed 7,372,603 7,372,603
Required total financing 0 0
Excess Cash balance 296,130 2,762,256

Degree of Operating Leverage

Degree of Operating Leverage (DOL) = % Change in EBIT / % Change in Sales

2017 2018 2019

EBIT 2,461,249 2,805,271 3,163,883

% Change in EBIT 13.98 12.78

Sales 6,495,370 7,403,262 8,349,660

% Change in Sales 13.98 12.78
Degree of Operating Leverage 1 1

Degree of Financial Leverage

Degree of Financial Leverage (DFL) = % Change in EPS / % Change in EBIT

2017 2018 2019

EPS 4.86 5.66 6.39

% Change in EPS 16 13

EBIT 2,461,249 2,805,271 3,163,883

% Change in EBIT 13.98 12.78

Degree of Financial Leverage 1.17 1.02

Degree of Total Leverage:

Degree of Total Leverage (DTL) = DOL * DFL

2018 2019
Degree of Total Leverage 1.17 1.02

Operating Breakeven Quantity:

Breakeven Quantity = Fixed Costs / (Price per Unit - Variable Cost per Unit)

2018 2019

Fixed Costs 512,794 578,347

Price per Unit 7,403 8,350
Variable Cost per Unit 4,132 4,660
Breakeven Quantity 157 157
epreciation - Capital Expenditures - Change in Working Capital

2020

3,522,496
2,641,872

(61,429)

2,843,135
228,020

113,818,096
107,041,040
689,947

1,662,475

on + Total Debt - Cash and Cash Equivalents

ber of Shares Outstanding

2020

8.9
365,672
3,254,481

479,947
10,551,538
(6,817,110)

2020 Total
 1,662,475

1,205,319 3,373,810

18,030,055

9,296,057
5,577,634
3,339,864 3,718,423
8,917,498

6,507,240
5,205,792
935,162 1,041,158
6,140,954

2,776,544

10,134,859
12,911,404
7,372,603
0
5,538,801

ge in EBIT / % Change in Sales

2020

3,522,496
11.33

9,296,057
11.33
 1

e in EPS / % Change in EBIT

2020

7.13
12

3,522,496
11.33

1.02

2020
1.02

per Unit - Variable Cost per Unit)

2020

643,900
9,296
5,188
157