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Financial Statements

Statement of Cash Flows

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GROUP

BANK

For the year ended December 31, Note 2021
Rs. ’000
2020
Rs. ’000
2021
Rs. ’000
2020
Rs. ’000
Cash flows from operating activities
Profit before income tax 32,957,324 24,519,860 32,001,203 23,511,312
Adjustments for:
Non-cash items included in profit before tax 64 30,473,593 24,764,927 30,013,192 24,705,430
Change in operating assets 65 (230,261,220) (374,761,711) (221,556,713) (369,030,667)
Change in operating liabilities 66 208,070,200 325,708,382 200,391,382 322,115,757
(Gains)/losses on sale of property, plant and equipment 17 (4,054) (5,820) (5,164) (926)
Share of profits of associate, net of tax 38.1 (1,896) (3,898)
Dividends received from investments in associate and subsidiaries 17 (105,911) (98,200)
Interest expense on subordinated liabilities 13.2 3,398,554 3,756,921 3,398,554 3,756,921
Net unrealised gains/(losses) arising from translating the Financial Statements of foreign operations 56.4 1,278,891 596,723 1,152,856 439,883
Benefits paid on defined benefit plans (1,116,195) (673,106) (1,107,421) (670,487)
Income tax paid 48 (8,963,620) (7,748,870) (8,660,823) (7,428,411)
Net cash from/(used in) operating activities 35,831,577 (3,846,592) 35,521,155 (2,699,388)
Cash flows from investing activities
Purchase of property, plant and equipment 39.1 to 39.4 (1,034,299) (1,159,712) (922,623) (1,106,641)
Purchase of investment properties 40 (41)
Proceeds from sale of property, plant and equipment 49,463 8,901 14,335 2,829
Purchase of financial investments (5,607,000) (300,000) (5,607,000) (300,000)
Proceeds from sale and maturity of financial investments 484,800 2,368,509 484,800 2,368,509
Purchase of intangible assets 41.1 & 41.2 (810,454) (460,053) (768,047) (409,322)
Investments in subsidiaries (1,125,000)
Dividends received from investments in associate and subsidiaries 17 105,911 98,200
Net cash from/(used in) investing activities (6,917,490) 457,604 (6,692,624) (471,425)
Cash flows from financing activities
Proceeds from issue of ordinary voting shares under employee share option plans 52 40,866 40,866
Proceeds from issue of ordinary voting shares to IFC parties (Private placement) 52 9,215,775 9,215,775
Proceeds from issue of subordinated liabilities 51 8,595,470 8,595,470
Redemption of subordinated liabilities 51 (9,502,140) (9,502,140)
Interest paid on subordinated liabilities (3,422,766) (3,802,023) (3,422,766) (3,802,023)
Payment of lease liabilities/advance payment of right-of-use assets (1,366,628) (1,354,902) (1,548,914) (1,446,874)
Dividend paid to non-controlling interest 57 (15,168) (15,996)
Dividend paid to shareholders of the Bank (5,159,000) (3,082,420) (5,159,284) (3,082,634)
Net cash from/(used in) financing activities (10,829,366) 960,434 (10,996,768) 884,244
Net increase/(decrease) in cash and cash equivalents 18,084,721 (2,428,554) 17,831,763 (2,286,569)
Cash and cash equivalents as at January 1, 51,258,271 53,686,825 50,253,868 52,540,437
Gross cash and cash equivalents as at December 31, 28 69,342,992 51,258,271 68,085,631 50,253,868
Less: Impairment charges 28.1 (7,613) (3,241) (7,555) (3,241)
Cash and cash equivalents as per Statement of Financial Position 28 69,335,379 51,255,030 68,078,076 50,250,627

The Notes appearing on pages 199 to 336 form an integral part of these Financial Statements.