Statement of Cash Flows
For the year ended 31 December
| In CZK million | Note | 2016 | 2015 restated |
|---|---|---|---|
| Cash flow from operating activities | |||
| Profit before tax | 4,909 | 5,965 | |
| Loss from discontinued operations before tax | – | (1,187) | |
| Earnings before taxes including loss from discontinued operations | 4,909 | 4,778 | |
| Adjustments for: | |||
Depreciation and amortisation | F.23. | 308 | 816 |
Impairment and reversal of impairment of current and non-current assets | F.16., F.17. | 319 | 408 |
Profit/Loss on disposal of PPE, intangible assets and investment property | (1,006) | (400) | |
Profit/Loss on sale and revaluation of financial assets | – | (954) | |
Gains/losses on disposal of subsidiaries | (675) | (581) | |
Dividends received | 21 | 19 | |
Interest expense | F.16. | (1,582) | (1,950) |
Interest income | (103) | (1,329) | |
Income/expenses not involving movements of cash | 16 | 9 | |
| Change in loans and advances to banks | (4,806) | 2,248 | |
| Change in loans and advances to non banks | 367 | (50) | |
| Change in receivables from insurance business | 1,134 | 94 | |
| Change in reinsurance assets | F.4. | 93 | 147 |
| Change in other assets, prepayments and accrued income | F.8. | (224) | (153) |
| Change in payables from insurance business | (1,345) | (160) | |
| Change in liabilities for investment contracts with DPF | (420) | (104) | |
| Change in liabilities to banks | 5,184 | – | |
| Change in liabilities to non banks | (3) | – | |
| Change in insurance liabilities (excluding DPF) | (2,500) | (9,131) | |
| Change in other liabilities, accruals and deferred income | 174 | 77 | |
| Change in other provisions | F.11. | (90) | (132) |
| Interest on securities received | 1,450 | 1,231 | |
| Dividends received | 675 | 581 | |
| Purchase of financial assets at FVTPL | (1,532) | (1,664) | |
| Purchase of financial assets available-for-sale | (11,634) | (11,941) | |
| Proceeds from financial assets at FVTPL | 2,899 | 5,825 | |
| Proceeds from financial assets available-for-sale | 14,730 | 16,222 | |
| Income taxes paid | (943) | (1,151) | |
| Net cash flow from operating activities | 5,417 | 2,755 | |
| Cash flow from investing activities | |||
| Interest on loans received | 38 | 105 | |
| Purchase of tangible assets and intangible assets | (234) | (246) | |
| Acquisition of subsidiaries | (659) | (1,078) | |
| Loans granted | F.3.2. | (130) | – |
| Proceeds from disposals of tangible and intangible assets | 3 | 6 | |
| Proceeds from sale of investment property | 51 | – | |
| Proceeds from disposal of subsidiaries and other proceeds from subsidiaries | – | 1,000 | |
| Repayment of loans granted | F.3.2. | 30 | 183 |
| Net cash flow from investing activities | (901) | (30) | |
| Cash flow from financing activities | |||
| Repayment of loans | – | (2) | |
| Interest paid | (9) | (9) | |
| Dividends paid to shareholders | F.9.2. | (3,684) | (3,272) |
| Net cash flow from financing activities | (3,693) | (3,283) | |
| Net decrease in cash and cash equivalents | 823 | (558) | |
| Cash and cash equivalents as at 1 January | 1,946 | 2,504 | |
| Cash and cash equivalents as at 31 December | 2,769 | 1,946 |