Statement of Cash Flows
GROUP | BANK | ||||
For the year ended December 31, | Note | 2016 | 2015 | 2016 | 2015 |
Rs. ’000 | Rs. ’000 | Rs. ’000 | Rs. ’000 | ||
Cash Flows from Operating Activities | |||||
Profit before income tax | 20,114,584 | 17,136,111 | 20,051,183 | 17,143,610 | |
Adjustments for: | |||||
Non-cash items included in profit before tax | 65 | 2,778,203 | 5,995,738 | 2,612,274 | 5,769,102 |
Change in operating assets | 66 | (131,952,287) | (96,144,998) | (126,779,462) | (95,259,038) |
Change in operating liabilities | 67 | 117,122,450 | 85,616,406 | 111,259,187 | 84,528,957 |
(Gains)/losses on sale of property, plant and equipment | 17 | (10,395) | 1,334 | (1,705) | 6,505 |
Share of profits in associates, net of tax | 38 | (6,454) | (13,638) | – | – |
Dividend income from subsidiaries and associates | 17 | – | – | (85,579) | (87,830) |
Interest expense on subordinated liabilities | 13.2 | 1,535,349 | 823,267 | 1,533,934 | 786,953 |
Net unrealised gains/(losses) arising from translating the Financial Statements of foreign operations | 57.4 | 438,565 | 886,677 | 414,578 | 888,844 |
Profit due to change in ownership | 17 | – | – | (3,047) | (2,344) |
Benefits paid on defined benefit plans | (110,800) | (95,682) | (109,329) | (92,505) | |
Income tax paid | 47 | (4,014,741) | (3,376,261) | (3,966,831) | (3,271,753) |
Super Gain tax paid | – | (2,609,972) | – | (2,576,355) | |
Net cash from operating activities | 5,894,474 | 8,218,982 | 4,925,203 | 7,834,146 | |
Cash Flows from Investing Activities | |||||
Net purchase of property, plant & equipment | (1,501,070) | (1,086,405) | (1,369,729) | (986,735) | |
Proceeds from sale of property, plant & equipment | 32,168 | 20,377 | 11,958 | 9,206 | |
Purchase of financial investments | (514,043) | (4,108,097) | (514,043) | (4,108,097) | |
Proceeds from sale and maturity of financial investments | 1,628,487 | 1,502,107 | 1,628,487 | 1,502,107 | |
Net purchase of intangible assets | (422,175) | (208,168) | (340,351) | (205,811) | |
Proceeds due to change in ownership | 4,294 | 3,127 | 4,294 | 3,127 | |
Net cash flow from investment in subsidiaries and associates | – | – | (1,184,707) | (63,152) | |
Dividends received from investments in subsidiaries and associates | 17 | 5,808 | 6,733 | 85,579 | 87,830 |
Net cash (used in) investing activities | (766,531) | (3,870,326) | (1,678,512) | (3,761,525) | |
Cash Flows from Financing Activities | |||||
Net proceeds from issue of ordinary voting shares | 135,582 | 237,304 | 135,582 | 237,304 | |
Proceeds from issue of subordinated liabilities | 52 | 13,179,430 | – | 13,179,430 | – |
Redemption of subordinated liabilities | 52 | (987,660) | (200,000) | (972,660) | – |
Interest paid on subordinated liabilities | (1,298,062) | (809,778) | (1,296,647) | (770,666) | |
Dividend paid to non-controlling interest | 58 | (3,432) | (3,270) | – | – |
Capital contribution from non-controlling interest of a newly incorporated subsidiary | 58 | 805,669 | – | – | – |
Dividend paid to shareholders of the Bank | (4,142,319) | (4,087,614) | (4,142,319) | (4,087,614) | |
Net cash from/(used in) financing activities | 7,689,208 | (4,863,358) | 6,903,386 | (4,620,976) | |
Net increase/(decrease) in cash and cash equivalents | 12,817,151 | (514,702) | 10,150,077 | (548,355) | |
Cash and cash equivalents as at January 01, | 20,107,076 | 20,621,778 | 20,043,512 | 20,591,867 | |
Cash and cash equivalents as at December 31, | 27 | 32,924,227 | 20,107,076 | 30,193,589 | 20,043,512 |
The Notes appearing on this Annual Report form an integral part of these Financial Statements.