Consolidated cash flows statement

Consolidated cash flows statement Note 1 January- 31 December 2016 1 January - 31 December 2015 (restated)
Profit before tax   3,031  2,944 
Adjustments   1,206 (1,672)
Change in loan receivables from clients   (5,190) -
Change in liabilities from deposits   3,964 -
Change in valuation of assets measured at fair value   (357) (391)
Interest income   (1,126) (1,232)
Realized investment profit/loss and impairment losses   935 223
Result from foreign exchange differences   (98) (78)
Change in deferred acquisition costs   (253) (443)
Amortization of intangible assets and tangible assets   412 359
Change in reinsurers’ share in technical provisions   107 (344)
Change in technical provisions   914 1,113
Change in receivables   (2,338) 256
Change in liabilities   1,967 126
Flows from investment contracts   (152) (558)
Acquisitions and redemptions of participation units and certificates in investment funds   303 385
Paid income tax   (580) (555)
Profit from bargain acquisition of the core Business of Bank BPH   (508) -
Other adjustments   3,206 (533)
Net cash flows from operating activities   4,237 1,272
Cash flows from investment activities      
Inflows   1,030,990 645,441
- disposal of investment property   69 57
- inflows from investment property    279 246
- disposal of intangible assets and tangible assets   14 6
- disposal of shares   4,470 4,878
- redemption of debt instruments   183,612 45 218
- inflows from buy-sell-back transactions   351,307 312,777
- withdrawal of term deposits at credit institutions   367,893 192,354
- inflows from other investments   120,655 85,974
- interest received   1,525 1 737
- dividends received   61 53
- cash inflows due to purchase of units and changes in the consolidation scope   1,076 2,104
- other inflows from investments   29 37
Outflows   (1,032,857) (640,588)
- acquisition of investment property   (202) (312)
- outflows for maintenance of investment property   (174) (168)
- acquisition of intangible assets and tangible assets   (700) (321)
- acquisition of shares   (4,336) (4,771)
- acquisition of shares in subsidiaries 2.4.1 (1,852) (1,348)
- cash outflows due to sale of units and changes in the consolidation scope 2.4.2 (7) (227)
- acquisition of debt securities   (188,304) (43,041)
- opening buy-sell-back transactions   (351,016) (312,954)
- acquisition of term deposits at credit institutions   (364,550) (191,288)
- acquisition of other investments   (121,715) (86,152)
- other investments outflows   (1) (6)
Net cash flows from investment activities   (1,867) 4,853
Cash flows from financial activities      
Inflows   333,943 373,820
- inflows from issuance of shares by subsidiaries (partially covered by non-controlling shareholders)   1,516 -
- inflows from loans and borrowings   2,883 41
- inflows due to issuance of own debt securities   277 1,457
- opening sell-buy-back transactions   329,267 372,322
Outflows   (335,833) (377,854)
- dividends paid to owners of the parent entity 38.1.1.1 (1,796) (4,059)
- repayment of loans and borrowings   (38) (126)
- inflows from sell-buy-back transactions   (332,902) (373,635)
- interest from loans and borrowings   (994) (5)
- interest from issued debt securities   (103) (29)
Net cash flows from financial activities   (1,890) (4,034)
Total net cash flows   480 2,091
Cash and cash equivalents at the beginning of the financial year   2,440 324
Change in cash due to foreign exchange differences   53 25
Cash and cash equivalents at the end of the financial year, including: 36 2,973 2,440
- not available for use   35 22

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