Consolidated statement of cash flows

Annual report
2018

Note 2018 2017
Cash flows from operating activities
Profit before tax 5 078 4 249
Total adjustments: 5 818 13 500
Amortization and depreciation 821 844
(Gains)/losses on investing activities (57) (117)
Interest and dividends (582) (465)
Change in:
amounts due from banks (17) 700
hedging derivatives 496 (1 436)
other derivatives (89) 281
securities 687 5 350
– held for trading 196 (105)
– financial instruments designated at fair value through profit or loss
upon initial recognition
5 780
– not held for trading, mandatorily measured at fair value
through profit or loss
1 842
– investment securities available-for-sale (413)
– investment securities held to maturity 88
– measured at fair value through OCI (1 163)
– measured at amortized cost (188)
loans and advances to customers (12 001) (4 844)
– not held for trading, mandatorily measured at fair value through profit or loss (36)
– measured at amortized cost (11 965) (4 844)
non-current assets held for sale 142 (143)
other assets (297) 188
accumulated allowances for credit losses and impairment allowances (2 374) (186)
accumulated allowances on non-financial assets and other provisions 86 84
amounts due to the Central Bank 1 2
amounts due to banks (41) (1 204)
amounts due to customers 21 519 15 053
liabilities in respect of insurance activities 410 339
debt securities in issue 238 (1 119)
subordinated liabilities 11 17
other liabilities (1 377) 1 069
Income tax paid (1 845) (972)
Other adjustments 87 59
Net cash used in operating activities 10 896 17 749

Note 2018 2017
Cash flows from investing activities
Inflows from investing activities 267 760 96 663
Proceeds from sale of subsidiaries 177
Proceeds from sale and interest on investment securities 96 415
Proceeds from sale of and interest on securities measured at fair value through other comprehensive income 266 385
Proceeds from sale of and interest on securities measured at amortized cost 925
Proceeds from sale of intangible assets, property, plant and equipment and assets held for sale 239 224
Other inflows from investing activities (dividends) 34 24
Outflows from investing activities (273 252) (103 557)
Purchase of shares in subsidiaries, net of cash acquired (2) (47)
Increase in equity of an associate (23)
Purchase of investment securities (102 862)
Purchase of securities measured at fair value through other comprehensive income (269 204)
Purchase of securities measured at amortized cost (3 033)
Purchase of intangible assets and property, plant and equipment (1 013) (625)
Net cash used in investing activities (5 492) (6 894)

Note 2018 2017
Cash flows from financing activities
Proceeds from debt securities in issue 12 705 17 836
Redemption of debt securities (8 248) (7 278)
Proceeds from issue of subordinated bonds 1 000 1 700
Dividend paid to shareholders (688)
Repayment of subordinated bonds issued (1 656)
Repayment of a subordinated loan (880)
Taking up loans and advances 1 128 311
Repayment of loans and advances (3 264) (15 360)
Repayment of interest on long-term liabilities (511) (494)
Net cash from financing activities 2 122 (5 821)
Total net cash flows 7 526 5 034
of which foreign exchange differences on cash and cash equivalents 217 (366)
Cash equivalents at the beginning of the period 23 000 17 966
Cash equivalents at the end of the period 49 30 526 23 000

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