Statement of Cash Flows
GROUP | BANK | ||||
For the year ended December 31, | Note | 2015 | 2014 | 2015 | 2014 |
Rs. ’000 | Rs. ’000 | Rs. ’000 | Rs. ’000 | ||
Cash Flows from Operating Activities | |||||
Profit before income tax | 17,136,111 | 15,859,917 | 17,143,610 | 15,736,216 | |
Adjustments for: | |||||
Non-cash items included in profits before tax | 63 | 5,876,455 | 3,570,044 | 5,649,818 | 3,521,810 |
Change in operating assets | 64 | (96,006,694) | (176,123,060) | (95,120,734) | (176,656,168) |
Change in operating liabilities | 65 | 85,616,406 | 177,867,627 | 84,528,958 | 178,481,088 |
Losses on sale of property, plant & equipment | 16 | 1,334 | 2,144 | 6,505 | 4,916 |
Share of profits in associates, net of tax | 36 | (13,638) | (6,563) | – | – |
Dividend income from subsidiaries and associates | 16 | 6,733 | 851 | (87,830) | (70,383) |
Interest expense on subordinated liabilities | 12.2 | 823,267 | 766,101 | 786,953 | 752,781 |
Net unrealised gains/(losses) arising from translating the Financial Statements of foreign operations |
55.4 | 886,677 | (60,430) | 888,844 | (57,151) |
Profit due to change in ownership | – | – | (2,344) | – | |
Benefits paid on defined benefit plans | (95,682) | (74,497) | (92,505) | (73,675) | |
Income taxes paid | 45 | (3,376,261) | (3,036,746) | (3,271,753) | (2,988,916) |
Super gain tax paid | (2,609,972) | – | (2,576,355) | – | |
Net cash from operating activities | 8,244,736 | 18,765,388 | 7,853,167 | 18,650,518 | |
Cash Flows from Investing Activities | |||||
Net purchase of property, plant & equipment | (1,086,405) | (1,072,322) | (986,735) | (989,864) | |
Proceeds from sale of property, plant & equipment | 20,377 | 33,391 | 9,206 | 13,649 | |
Purchase of financial investments | (4,148,255) | (6,868,493) | (4,148,255) | (6,868,493) | |
Proceeds from sale and maturity of financial investments | 1,523,244 | 964,499 | 1,523,244 | 964,499 | |
Net purchase of intangible assets | (208,168) | (144,494) | (205,811) | (144,417) | |
Proceeds from the change in ownership | 3,127 | – | 3,127 | – | |
Net cash flow from investment in subsidiaries and associates | – | – | (63,152) | (34,795) | |
Acquisition of a subsidiary, net of cash acquired | 35.2.4 | – | (891,470) | – | (916,046) |
Dividends received from investments in subsidiaries and associates | – | – | 87,830 | 70,383 | |
Net cash used in investing activities | (3,896,080) | (7,978,889) | (3,780,546) | (7,905,084) | |
Cash Flows from Financing Activities | |||||
Net proceeds from issue of ordinary voting shares | 51 | 237,304 | 340,763 | 237,304 | 340,763 |
Repayment of subordinated liabilities | 50 | (200,000) | – | – | – |
Interest paid on subordinated liabilities | (809,778) | (749,190) | (770,666) | (738,668) | |
Dividend paid to non-controlling interest | 56 | (3,270) | (2,616) | – | – |
Dividend paid to shareholders of the Bank | (4,087,614) | (4,017,211) | (4,087,614) | (4,017,211) | |
Net cash used in financing activities | (4,863,358) | (4,428,254) | (4,620,976) | (4,415,116) | |
Net increase/(decrease) in cash and cash equivalents | (514,702) | 6,358,245 | (548,355) | 6,330,318 | |
Cash and cash equivalents as at January 01, | 20,621,778 | 14,263,533 | 20,591,867 | 14,261,549 | |
Cash and cash equivalents as at December 31, | 26 | 20,107,076 | 20,621,778 | 20,043,512 | 20,591,867 |
The Notes form an integral part of these Financial Statements.