Consolidated Cash Flow Statement
A. Cash flows from operating activities
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| Amount ‘000 PLN | 1.01.2016 -31.12.2016 | 1.01.2015 -31.12.2015 |
|---|---|---|
| Profit (loss) after taxes | 701 252 | 546 525 |
| Adjustments for: | 2 190 194 | 3 866 699 |
| Non-controlling interests | 0 | 0 |
| Interests in net profit /(loss) of associated companies | 1 378 | 1 385 |
| Depreciation and amortization | 54 854 | 50 435 |
| Foreign exchange gains /(losses) | 56 385 | 14 312 |
| Dividends | (1 909) | (2 271) |
| Changes in provisions | 18 567 | (64 756) |
| Result on sale and liquidation of investment financial assets | (327 935) | (45 203) |
| Change in financial assets valued at fair value through profit and loss (held for trading) | 302 463 | 576 578 |
| Change in loans and advances to banks | 881 630 | 21 379 |
| Change in loans and advances to customers | (646 710) | (2 244 322) |
| Change in receivables from securities bought with sell-back clause | (90 520) | 155 642 |
| Change in liabilities valued at fair value through profit and loss (held for trading) | (988 073) | 456 727 |
| Change in liabilities to banks | (231 072) | (546 232) |
| Change in deposits from customers | 3 065 220 | 5 219 145 |
| Change in liabilities from securities sold with buy-back clause | 0 | (59 765) |
| Change in debt securities | 179 310 | (34 034) |
| Change in income tax settlements | 285 637 | 183 665 |
| Income tax paid | (211 420) | (224 026) |
| Change in other assets and liabilities | (163 142) | 389 777 |
| Other | 5 531 | 18 263 |
| Net cash flows from operating activities | 2 891 446 | 4 413 224 |
B. Cash flows from investing activities
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| Amount ‘000 PLN | 1.01.2016 -31.12.2016 | 1.01.2015 -31.12.2015 |
|---|---|---|
| Inflows: | 102 295 603 | 219 269 873 |
| Proceeds from sale of property, plant and equipment and intangible assets | 15 982 | 5 033 |
| Proceeds from sale of shares in related entities | 0 | 0 |
| Proceeds from sale of investment financial assets | 102 277 712 | 219 262 569 |
| Other | 1 909 | 2 271 |
| Outflows | (106 669 537) | (221 583 776) |
| Acquisition of property, plant and equipment and intangible assets | (46 298) | (57 439) |
| Acquisition of shares in related entities | 0 | 0 |
| Acquisition of investment financial assets | (106 623 239) | (221 526 337) |
| Other | 0 | 0 |
| Net cash flows from investing activities | (4 373 934) | (2 313 903) |
C. Cash flows from financing activities
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| Amount ‘000 PLN | 1.01.2016 -31.12.2016 | 1.01.2015 -31.12.2015 |
|---|---|---|
| Inflows: | 250 246 | 1 069 986 |
| Long-term bank loans | 220 520 | 108 488 |
| Issue of debt securities | 29 726 | 961 498 |
| Increase in subordinated debt | 0 | 0 |
| Net proceeds from issues of shares and additional capital paid-in | 0 | 0 |
| Other | 0 | 0 |
| Outflows: | (236 930) | (1 716 616) |
| Repayment of long-term bank loans | (184 636) | (159 237) |
| Redemption of debt securities | (29 450) | (1 532 681) |
| Decrease in subordinated debt | 0 | 0 |
| Issue of shares expenses | 0 | 0 |
| Redemption of shares | 0 | 0 |
| Dividends paid and other payments to owners | 0 | 0 |
| Othe | (22 844) | (24 698) |
| Net cash flows from financing activities | 13 316 | (646 630) |
| D. NET CASH FLOWS, TOTAL (A+B+C) | (1 469 172) | 1 452 691 |
| E. CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE REPORTING PERIOD | 6 851 155 | 5 398 464 |
| F. CASH AND CASH EQUIVALENTS AT THE END OF THE REPORTING PERIOD (D+E) | 5 381 982 | 6 851 155 |
Additional information regarding cash flows statement is presented in “Supplementary information”.
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