Consolidated Statement of Cash Flows

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In mln of Russian Roubles Note 2011 2010
Cash flows from operating activities  
Interest received 826,551 809,556
Interest paid (231,656) (250,681)
Fees and commissions received 152,177 130,669
Fees and commissions paid (10,709) (7,140)
Net gains received from trading securities   431 1,040
Net gains received from securities designated at fair value through profit or loss   217 4,505
Net gains received / (losses incurred) from trading in foreign currencies and from operations with foreign currency derivatives   2,127 (14,516)
Net gains received from operations with other derivatives   1,523 2,944
Net gains received from operations with precious metals and precious metals derivatives   6,979 928
Other operating income received 74,691 12,267
Operating expenses paid (372,522) (240,549)
Income tax paid (71,752) (48,249)
Cash flows from operating activities before changes in operating assets and liabilities   378,057 400,774
Changes in operating assets and liabilities
Net increase in mandatory cash balances with central banks   (49,572) (10,195)
Net decrease in trading securities 14,181 28,436
Net decrease in securities designated at fair value through profit or loss   41,516 24,532
Net increase in due from other banks (26,631) (2,948)
Net increase in loans and advances to customers (2,163,308) (807,732)
Net increase in other assets (39,897) (75,956)
Net increase in due to other banks 384,458 130,062
Net increase in due to individuals 869,840 1,044,458
Net increase in due to corporate customers 337,816 155,431
Net decrease in debt securities in issue (19,150) (4,672)
Net increase in other liabilities 28,437 29,597
Net cash (used in) / from operating activities   (244,253) 911,787
Cash flows from investing activities
Purchase of investment securities available for sale   (852,637) (1,835,415)
Proceeds from disposal and redemption of investment securities available for sale   1,122,763 1,178,645
Purchase of investment securities held to maturity   (98,739) (94,636)
Proceeds from redemption of investment securities held to maturity   40,016 -
Acquisition of premises and equipment 14 (109,352) (63,082)
Proceeds from disposal of investment property   (208) -
Proceeds from disposal of premises and equipment including insurance payments   10,918 410
Acquisition of associates   (2) (2,211)
Acquisition of subsidiaries   27,338 (994)
Proceeds from disposal of subsidiaries   726 -
Dividends received   3,504 1,414
Net cash from / (used in) investing activities   144,327 (815,869)
Cash flows from financing activities  
Other borrowed funds received   154,372 10,270
Redemption of other borrowed funds   (98,129) (26,209)
Repayment of interest on other borrowed funds   (2,409) (586)
Redemption of subordinated debt   - (214,912)
Repayment of interest on subordinated debt   (19,518) (28,992)
Funds received from loan participation notes issued under the MTN programme   27,896 167,920
Redemption of loan participation notes issued under the MTN programme   (22,896) (1,590)
Repayment of interest on loan participation notes issued under the MTN programme   (8,913) (3,332)
Acquisition of non-controlling interests in subsidiaries 37 (60) (367)
Dividends paid 29 (20,951) (2,205)
Net cash from / (used in) financing activities   9,392 (100,003)
Effect of exchange rate changes on cash and cash equivalents   5,435 (1,835)
Effect of inflation on cash and cash equivalents   (8,937) -
Net decrease in cash and cash equivalents   (94,036) (5,920)
Cash and cash equivalents at the beginning of the year   719,601 725,521
Cash and cash equivalents as at the end of the year 7 625,565 719,601
In mln of Russian Roubles Note 2011 2010
Cash flows from operating activities  
Interest received 826,551 809,556
Interest paid (231,656) (250,681)
Fees and commissions received 152,177 130,669
Fees and commissions paid (10,709) (7,140)
Net gains received from trading securities   431 1,040
Net gains received from securities designated at fair value through profit or loss   217 4,505
Net gains received / (losses incurred) from trading in foreign currencies and from operations with foreign currency derivatives   2,127 (14,516)
Net gains received from operations with other derivatives   1,523 2,944
Net gains received from operations with precious metals and precious metals derivatives   6,979 928
Other operating income received 74,691 12,267
Operating expenses paid (372,522) (240,549)
Income tax paid (71,752) (48,249)
Cash flows from operating activities before changes in operating assets and liabilities   378,057 400,774
Changes in operating assets and liabilities
Net increase in mandatory cash balances with central banks   (49,572) (10,195)
Net decrease in trading securities 14,181 28,436
Net decrease in securities designated at fair value through profit or loss   41,516 24,532
Net increase in due from other banks (26,631) (2,948)
Net increase in loans and advances to customers (2,163,308) (807,732)
Net increase in other assets (39,897) (75,956)
Net increase in due to other banks 384,458 130,062
Net increase in due to individuals 869,840 1,044,458
Net increase in due to corporate customers 337,816 155,431
Net decrease in debt securities in issue (19,150) (4,672)
Net increase in other liabilities 28,437 29,597
Net cash (used in) / from operating activities   (244,253) 911,787
Cash flows from investing activities
Purchase of investment securities available for sale   (852,637) (1,835,415)
Proceeds from disposal and redemption of investment securities available for sale   1,122,763 1,178,645
Purchase of investment securities held to maturity   (98,739) (94,636)
Proceeds from redemption of investment securities held to maturity   40,016 -
Acquisition of premises and equipment 14 (109,352) (63,082)
Proceeds from disposal of investment property   (208) -
Proceeds from disposal of premises and equipment including insurance payments   10,918 410
Acquisition of associates   (2) (2,211)
Acquisition of subsidiaries   27,338 (994)
Proceeds from disposal of subsidiaries   726 -
Dividends received   3,504 1,414
Net cash from / (used in) investing activities   144,327 (815,869)
Cash flows from financing activities  
Other borrowed funds received   154,372 10,270
Redemption of other borrowed funds   (98,129) (26,209)
Repayment of interest on other borrowed funds   (2,409) (586)
Redemption of subordinated debt   - (214,912)
Repayment of interest on subordinated debt   (19,518) (28,992)
Funds received from loan participation notes issued under the MTN programme   27,896 167,920
Redemption of loan participation notes issued under the MTN programme   (22,896) (1,590)
Repayment of interest on loan participation notes issued under the MTN programme   (8,913) (3,332)
Acquisition of non-controlling interests in subsidiaries 37 (60) (367)
Dividends paid 29 (20,951) (2,205)
Net cash from / (used in) financing activities   9,392 (100,003)
Effect of exchange rate changes on cash and cash equivalents   5,435 (1,835)
Effect of inflation on cash and cash equivalents   (8,937) -
Net decrease in cash and cash equivalents   (94,036) (5,920)
Cash and cash equivalents at the beginning of the year   719,601 725,521
Cash and cash equivalents as at the end of the year 7 625,565 719,601

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