Statement of Cash Flows
GROUP | BANK | ||||
For the year ended December 31, | Note | 2014 | 2013 | 2014 | 2013 |
Rs. ’000 | Rs. ’000 | Rs. ’000 | Rs. ’000 | ||
Cash Flows from Operating Activities |
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Profit before income tax | 15,859,917 | 14,690,918 | 15,736,216 | 14,510,519 | |
Adjustments for; | |||||
Non-cash items included in profits before tax | 61 | 5,259,655 | 5,768,801 | 5,211,421 | 5,862,574 |
Change in operating assets | 62 | (177,812,671) | (102,776,236) | (178,345,779) | (102,740,182) |
Change in operating liabilities | 63 | 177,867,627 | 76,882,830 | 178,481,088 | 76,915,896 |
Gains/(losses) on sale of property, plant & equipment | 16 | 2,144 | (11,115) | 4,916 | (233) |
Share of profits in associates, net of tax | (6,563) | (5,285) | – | – | |
Dividend income from subsidiaries and associates | 16 | 851 | 2,691 | (70,383) | (72,530) |
Interest expense on subordinated liabilities | 12.2 | 766,101 | 619,126 | 752,781 | 619,126 |
Net gains/(losses) arising from translating the Financial Statements of foreign operations |
53.4 | (60,430) | 361,343 | (57,151) | 350,969 |
Benefits paid on defined benefit plans | (74,497) | (47,891) | (73,675) | (46,147) | |
Income taxes paid | (3,036,746) | (4,008,339) | (2,988,916) | (3,962,673) | |
Net cash from/(used in) operating activities | 18,765,388 | (8,523,157) | 18,650,518 | (8,562,681) | |
Cash Flows from Investing Activities |
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Net purchase of property, plant & equipment | (1,072,322) | (957,152) | (989,864) | (956,337) | |
Proceeds from sale of property, plant & equipment | 33,391 | 31,431 | 13,649 | 11,927 | |
Purchase of financial investments | (6,868,493) | (2,749,888) | (6,868,493) | (2,749,888) | |
Proceeds from sale and maturity of financial investments | 964,499 | 1,723,893 | 964,499 | 1,723,893 | |
Net purchase of intangible assets | (144,494) | (119,903) | (144,417) | (119,449) | |
Net cash flow from investment in subsidiaries and associates | – | – | (34,795) | – | |
Acquisition of a subsidiary, net of cash acquired | 34.2 | (891,470) | – | (916,046) | – |
Dividends received from investments in subsidiaries and associates | – | – | 70,383 | 72,530 | |
Net cash from/(used in) investing activities | (7,978,889) | (2,071,619) | (7,905,084) | (2,017,324) | |
Cash Flows from Financing Activities |
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Net proceeds from issue of ordinary voting shares | 50 | 340,763 | 76,074 | 340,763 | 76,074 |
Net proceeds from subordinated liabilities | 49 | – | 9,468,750 | – | 9,468,750 |
Repayment of subordinated liabilities | 49 | – | (550) | – | (550) |
Interest paid on subordinated liabilities | (749,190) | (492,745) | (738,668) | (492,745) | |
Dividend paid to non-controlling interest | 54 | (2,616) | (2,616) | – | – |
Dividend paid to shareholders of the Bank | (4,017,211) | (3,942,809) | (4,017,211) | (3,942,809) | |
Net cash from/(used in) financing activities | (4,428,254) | 5,106,104 | (4,415,116) | 5,108,720 | |
Net increase/(decrease) in cash and cash equivalents | 6,358,245 | (5,488,672) | 6,330,318 | (5,471,285) | |
Cash and cash equivalents as at January 01, | 14,263,533 | 19,752,205 | 14,261,549 | 19,732,834 | |
Cash and cash equivalents as at December 31, | 26 | 20,621,778 | 14,263,533 | 20,591,867 | 14,261,549 |
The Notes form an integral part of these Financial Statements.