GROUP |
BANK |
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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 1 to 69 form an integral part of these Financial Statements.