Commercial Bank of Ethiopia

Fiscal Year 2011 EC (2019/2020 GC)

Unmodified

Revenue

ETB 54.3B

Net Profit

ETB 11.5B

Total Assets

ETB 712.9B

Total Equity

ETB 50.2B

Key income statement items

Net cash from each activity

Breakdown of total assets

FY 2011 EC

Item	Amount (ETB)
Interest Income and Expense
Interest Income	45,675,245,455
Interest Expense	-20,056,803,363
Net interest income	25,618,442,092
Impairment
Impairment losses on loans and advances	-3,267,965,350
Net interest income after provisions	22,350,476,742
Non-Interest Income and Expense
Gain on foreign currency transactions	479,230,584
Equity investments in associates	26,766,205
Non-interest income	8,120,063,274
Non-interest expense	-15,276,994,392
Profit and Tax
Profit before tax	15,699,542,413
Income tax	-4,212,497,802
Profit for the year	11,487,044,611
Other Comprehensive Income
Remeasurements of defined benefit liability	-278,877,817
Related tax	83,889,676
Items that will never be reclassified to profit or loss	-194,988,141
Unrealized (loss)/gain arising from measurement at fair value	39,446,716
Related tax	-11,834,015
Foreign currency translation differences for foreign operations	11,712,583
Items that are or may be reclassified to profit or loss	39,325,284
Other comprehensive income, net of tax	-155,662,857
Total comprehensive income	11,331,381,754

As at end of FY 2011 EC

Item	Amount (ETB)
Assets
Cash and cash equivalents	85,473,472,580
Debt & Equity Securities	395,196,878,559
Loans and advances to customers, net	197,364,804,056
Loans to micro-finance institutions, net	506,532,587
Receivables	8,071,372,366
Investments in associates	140,067,243
Non-current assets held for sale	1,007,145,000
Investment property	22,099,692
Property, plant and equipment, net	11,207,837,514
Intangible assets	179,865,829
Other assets	8,175,926,543
Right of use asset	2,958,241,804
Deferred tax assets	2,577,975,411
Total Assets	712,882,219,184
Liabilities
Deposits due to other banks	518,988,994
Customers' deposits	540,940,798,427
Current tax liabilities	5,992,447,406
Provisions	662,030,142
Finance lease obligations	301,128,800
Dividends	8,683,368,689
Employee benefits	2,766,551,435
Other liabilities	102,768,223,015
Total Liabilities	662,633,536,908
Equity
Capital	40,000,000,000
Legal reserve	9,678,098,118
Capital reserve	143,256,736
Statutory Reserve	886,658,841
IFB reserve	1,057,658
Fair value reserve	125,424,189
Foreign Currency Translation Reserve	32,559,741
Accumulated Profit or Loss	-207,429,766
Remeasurement of defined benefit liability	-410,943,241
Total Equity	50,248,682,276
Total Liabilities and Equity
Total liabilities and equity	712,882,219,184

FY 2011 EC

Item	Amount (ETB)
Operating Activities
Profit before tax	15,699,542,413
Provisions/Impairment	3,582,368,494
Depreciation and amortization	2,001,714,562
Income from associate recognized in profit or loss	-26,766,205
Loss (Gain) on Disposal of Property, Plant and Equipment	1,163,095
Finance lease charge	7,340,261
Operating cash before working capital changes	21,265,362,620
Change in Debt and Equity Securities	-76,127,571,545
Change in Loans and advances	-28,144,641,745
Change in receivables	329,193,382
Change in Non Current Asset Held for Sale	25,626,948
Change in other assets	-736,482,645
Change in Restricted fund	-3,956,502,340
Change in customers' deposits	90,260,329,873
Change in provisions	20,238,994
Change in employee benefits	546,162,193
Change in other liabilities	41,007,228,097
Cash generated from operations	44,488,943,831
Income taxes paid	-2,761,831,547
Net cash generated by operating activities	41,727,112,284
Investing Activities
Payments for property, plant and equipment	-2,865,926,533
Payment right of use assets	-1,167,314,452
Net cash used in investing activities	-4,033,240,986
Financing Activities
Dividend paid	-7,350,000,000
Finance lease obligation paid	-55,522,362
Net cash outflow from financing activities	-7,405,522,362
Net Change in Cash	30,288,348,937
Closing Cash & Equivalents	49,562,985,661

Extracted from audited financial statements via OCR. Figures in Ethiopian Birr.