Financial and
ESG report 2020

Consolidated Cash Flow Statement

A. Cash flows from operating activities

Amount ‘000 PLN 1.01.2020 -31.12.2020 1.01.2019 -31.12.2019*
Profit (loss) after taxes 22 817 560 732
Total adjustments: (3 160 418) (1 131 406)
Interest received 3 126 039 3 159 255
Interest paid (552 884) (836 834)
Depreciation and amortization 210 411 180 872
Foreign exchange (gains)/ losses 11 797 (12 314)
Dividends (3 678) (3 219)
Changes in provisions 442 472 51 426
Result on sale and liquidation of investing activity assets (134 008) (25 294)
Change in financial assets held for trading 277 616 (436 839)
Change in loans and advances to banks (159 335) 6 157
Change in loans and advances to customers (7 042 496) (6 899 490)
Change in receivables from securities bought with sell-back clause (loans and advances) 132 653 32 227
Change in financial liabilities valued at fair value through profit and loss (held for trading) 127 556 165 703
Change in deposits from banks 181 793 (4 302 689)
Change in deposits from customers 577 401 8 022 526
Change in liabilities from securities sold with buy-back clause 165 649 46 385
Change in debt securities (308 893) (100 664)
Change in income tax settlements 182 495 (84 372)
Income tax paid (343 181) (319 479)
Change in other assets and liabilities (104 049) 165 954
Other 52 224 59 283
Net cash flows from operating activities (3 137 601) (570 674)

B. Cash flows from investing activities

Amount ‘000 PLN 1.01.2020 -31.12.2020 1.01.2019 -31.12.2019*
Inflows: 94 157 770 141 768 540
Proceeds from sale of property, plant and equipment and intangible assets 25 855 22 808
Proceeds from sale of shares in related entities 0 0
Proceeds from sale of investment financial assets 94 128 237 141 742 513
Other 3 678 3 219
Outflows: (92 121 984) (142 681 128)
Acquisition of property, plant and equipment and intangible assets (73 945) (196 534)
Purchase of Euro Bank shares less cash acquired 0 (1 591 434)
Acquisition of investment financial assets (92 048 039) (140 893 160)
Other 0 0
Net cash flows from investing activities 2 035 786 (912 588)

C. Cash flows from financing activities

Amount ‘000 PLN 1.01.2020 -31.12.2020 1.01.2019 -31.12.2019*
Inflows from financing activities: 13 000 865 000
Long-term bank loans 13 000 35 000
Issue of debt securities 0 0
Increase in subordinated debt 0 830 000
Net proceeds from issues of shares and additional capital paid-in 0 0
Other inflows from financing activities 0 0
Outflows from financing activities: (1 077 540) (149 637)
Repayment of long-term bank loans (706 806) (88 467)
Redemption of debt securities (299 440) 0
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
Other outflows from financing activities (71 294) (61 170)
Net cash flows from financing activities (1 064 540) 715 363
 
D. Net cash flows. Total (a + b + c) (2 166 355) (767 899)
– including change resulting from FX differences 8 548 152
E. Cash and cash equivalents at the beginning of the reporting period 3 752 789 4 520 688
F. Cash and cash equivalents at the end of the reporting period (D + E) 1 586 434 3 752 789
* data for 2019 has been restated in relation to the information presented in the report for 2019, more information on this subject is provided in Chapter 8. "Accounting policy".

Additional information regarding cash flows statement is presented in point 5) of chapter 16. “Supplementary information”.

Information on liabilities classified as financing activities is presented in points 31), 34), 35) of chapter 15. “Notes to the Consolidated Financial Report”.

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