Financial Statements
Statement of Cash Flows
| GROUP | Bank | ||||
| For the year ended December 31, | Note | 2020 Rs. '000 |
2019 Rs. '000 |
2020 Rs. '000 |
2019 Rs. '000 |
| Cash flows from operating activities | |||||
| Profit before income tax | 24,519,860 | 22,983,896 | 23,511,312 | 22,339,105 | |
| Adjustments for: | |||||
| Non-cash items included in profit before tax | 64 | 24,764,927 | 14,014,272 | 24,705,430 | 13,702,213 |
| Change in operating assets | 65 | (374,761,711) | (84,218,375) | (369,030,667) | (74,749,286) |
| Change in operating liabilities | 66 | 325,708,382 | 69,879,669 | 322,115,757 | 65,515,273 |
| (Gains)/losses on sale of property, plant and equipment | 64 | (5,820) | (19,731) | (926) | (7,958) |
| Share of profits in associate, net of tax | 38.1 | (3,898) | (9,992) | - | - |
| Dividend income from subsidiaries | 17 | - | - | (98,200) | (85,397) |
| Interest expense on subordinated liabilities | 13.2 | 3,756,921 | 3,848,979 | 3,756,921 | 3,848,979 |
| Net unrealised gains/(losses) arising from translating the Financial Statements of foreign operations |
56.4 | 596,723 | (396,201) | 439,883 | (399,787) |
| Profit due to change in ownership | 17 | - | - | - | (14,498) |
| Benefits paid on defined benefit plans | (673,106) | (198,799) | (670,487) | (194,728) | |
| Income tax paid | 48 | (7,748,870) | (8,301,839) | (7,428,411) | (8,087,930) |
| Net cash from/(used in) operating activities | (3,846,592) | 17,581,879 | (2,699,388) | 21,865,986 | |
| Cash flows from investing activities | |||||
| Purchase of property, plant and equipment | 39.1 to 39.4 | (1,159,712) | (1,372,832) | (1,106,641) | (1,307,244) |
| Purchase of investment properties | 40 | (41) | - | - | - |
| Proceeds from sale of property, plant and equipment | 8,901 | 24,189 | 2,829 | 11,025 | |
| Purchase of financial investments | (300,000) | (95,031) | (300,000) | (95,031) | |
| Proceeds from sale and maturity of financial investments | 2,368,509 | 3,428,080 | 2,368,509 | 3,428,080 | |
| Purchase of intangible assets | 41.1 & 41.2 | (460,053) | (415,088) | (409,322) | (387,432) |
| Proceeds due to change in ownership | - | 21,503 | - | 21,503 | |
| Acquisition of a subsidiary, net of cash acquired | - | (91,716) | (1,125,000) | (754,657) | |
| Dividends received from investments in subsidiaries | 17 | - | - | 98,200 | 85,397 |
| Net cash from/(used in) investing activities | 457,604 | 1,499,105 | (471,425) | 1,001,641 | |
| Cash flows from financing activities | |||||
| Proceeds from issue of ordinary voting shares under employee share option plans | 52 | - | 30,128 | - | 30,128 |
| Proceeds from issue of ordinary voting shares to IFC parties (Private placement) |
52 | 9,215,775 | - | 9,215,775 | - |
| Interest paid on subordinated liabilities | (3,802,023) | (3,873,107) | (3,802,023) | (3,873,107) | |
| Payment of lease liabilities/advance payment of right-of-use assets | (1,354,902) | (1,049,004) | (1,446,874) | (1,165,340) | |
| Dividend paid to non-controlling interest | 57 | (15,996) | (4,988) | - | - |
| Dividend paid to shareholders of the Bank | (3,082,420) | (4,857,563) | (3,082,634) | (4,857,760) | |
| Net cash from/(used in) financing activities | 960,434 | (9,754,534) | 884,244 | (9,866,079) | |
| Net increase/(decrease) in cash and cash equivalents | (2,428,554) | 9,326,450 | (2,286,569) | 13,001,548 | |
| Cash and cash equivalents as at January 1, | 53,686,825 | 44,360,375 | 52,540,437 | 39,538,889 | |
| Gross cash and cash equivalents as at December 31, | 28 | 51,258,271 | 53,686,825 | 50,253,868 | 52,540,437 |
| Less: Impairment charges | 28.1 | (3,241) | (5,707) | (3,241) | (5,707) |
| Cash and cash equivalents as per Statement of Financial Position | 28 | 51,255,030 | 53,681,118 | 50,250,627 | 52,534,730 |
The Notes 1 to 69 form an integral part of these Financial Statements.