Consolidated statement of cash flows
For the year ended 31 December 2019
Notes | 2019 | 2018 | |
Operational activities | |||
Net profit | 120,412 | 151,133 | |
Adjustment for non-cash items: | |||
- Result of associates | -11,077 | 1,802 | |
- Unrealised (gains) losses arising from changes in fair value1 | -11,945 | 12,782 | |
- Unrealised (gains) losses arising from changes in foreign exchange rates | -44,166 | 18,924 | |
- Unrealised (gains) losses arising from other changes2 | 19,858 | 7,178 | |
- Amortization of premiums/discounts debentures and notes | 4,923 | 6,208 | |
- Impairments | 91,928 | 22,998 | |
- Depreciation and impairment of PP&E and intangible assets | (11),(12) | 7,809 | 3,769 |
- Income tax expense/(gain) | -1,884 | 14,738 | |
Changes in: | |||
- Income taxes payable / receivable | -20,153 | -62,909 | |
- Loans | -345,187 | -437,930 | |
- Equity investments and investments in associates | -262,655 | -126,855 | |
- Other assets and liabilities3 | 79,357 | 119,453 | |
- Short-term deposits > 3 months3 | 283,929 | -261,630 | |
- Short-term credits3 | 18,400 | -50,377 | |
Net cash flow from operational activities | (33) | -70,451 | -580,716 |
Investment activities | |||
Purchase of interest-bearing securities | (4) | - | -54,826 |
Redemption of interest-bearing securities | (4) | 54,505 | 18,976 |
Investments in PP&E and intangible fixed assets | (11),(12) | -20,970 | -6,714 |
Disinvestments in PP&E and intangible fixed assets | (11),(12) | 376 | 629 |
Net cash flow from investment activities | (34) | 33,911 | -41,935 |
Financing activities | |||
Proceeds from issuance of debt securities, debentures and notes | (15) | 1,704,123 | 984,758 |
Redemption of debt securities, debentures and notes | (15) | -1,142,217 | -1,006,646 |
Lease payments | (11) | -3,393 | - |
Dividend paid | -3,570 | -14,039 | |
Net cash flow from financing activities | (35) | 554,943 | -35,927 |
Net cash flow | 518,403 | -658,578 | |
Cash and cash equivalents | |||
Net foreign exchange difference | 15,091 | -16,411 | |
Banks and short term deposits at January 1 | 904,609 | 1,579,598 | |
Banks and short term deposits at December 31 | (36) | 1,438,103 | 904,609 |
Total cash flow | 518,403 | -658,578 | |
Operational cash flows from interest and dividends | |||
Interest received | 350,697 | 317,235 | |
Interest paid | -161,040 | -129,493 | |
Dividend received | 29,645 | 26,172 | |
Interest paid for lease liabilities | -185 | - |
- 1 Unrealized (gains) losses arising from changes in fair value related to fair value changes in loans to private sector, derivatives, equity investments, debentures and notes.
- 2 Unrealized (gains) losses arising from other changes relate to changes in accrual and amortizable fees of financial assets and liabilities.
- 3 Movement is excluding foreign exchange results. Foreign exchange results are included in unrealized gains (losses) arising from foreign exchange rates.