OPERATING ACTIVITIES

Profit before taxation and non-controlling interests

2,816,165

3,081,332

766,721

Adjustments for:

     Depreciation (Note 14)

131,286

149,348

35,744

     Amortisation of intangible assets (Note 15)

31,527

31,527

8,583

     Dividends income (Note 30)

(25,043)

(8,879)

(6,818)

     Decrease in fair value of investment property (Note 12)

28,836

11,900

7,851

     Impairment allowance on loans and advances (Note 41.9)

1,874,123

2,303,106

510,243

     Recovery of doubtful loans and advances (Note 41.9)

(183,015)

(220,746)

(49,827)

     Discount unwind (Note 41.9)

(129,920)

(177,216)

(35,372)

     Loss on credit default swaps (Note 32)

–

204,438

–

     (Recovery)/impairment allowance on investment securities (Note 32)

(2,726)

53,590

(742)

     Impairment allowance on property and equipment, net (Note 14)

21,337

57,440

5,809

     Net loss/(gain) from available for sale investments (Note 30)

4,224

(6,852)

1,150

     Net gain from trading securities (Note 29)

(104,018)

(29,482)

(28,320)

     Share of profit of associates, net

–

(158,658)

–

     Imputed interest on mandatory convertible securities

–

(29,131)

–

     Net gain on sale of investment in associate (Note 11)

–

(1,314,315)

–

     Ineffective portion of hedges – (gain)/losses (Note 8)

(22,559)

5,673

(6,142)

     Board of directors’ remuneration

5,375

5,584

1,463

     Employees’ incentive plan benefit expense (Note 24)

48,339

32,882

13,161

Operating profit before changes in operating assets and liabilities

Increase in balance with Central Bank

(1,500,000)

(750,000)

(408,385)

Decrease in due from banks

4,430,974

453,360

1,206,364

Decrease in net trading derivative financial instruments

1,216

76,493

331

Increase in loans and advances

(10,215)

(3,888,011)

(2,781)

Decrease in other assets

23,206

453,947

6,318

Decrease in due to banks

(108,820)

(2,034,819)

(29,627)

Increase in deposits from customers

19,836

4,204,202

5,400

Decrease in other liabilities

(876,006)

(886,812)

(238,499)

Cash from operations

Board of Directors’ remuneration paid

(10,750)

(5,250)

(2,927)

Overseas tax paid

(8,221)

–

(2,238)

Net cash from operations

INVESTING ACTIVITIES

Net proceeds from disposal of associate

–

7,111,817

–

Dividends received from associate

–

36,697

–

Dividends income

25,043

8,879

6,818

Recovery of investment securities written off

12,669

–

3,449

Overseas tax refund, net

39,624

–

10,788

Gain on sale of investment

–

36,334

–

Net purchase of trading securities

(43,388)

(15,755)

(11,813)

Net proceeds from disposal of available for sale investment securities

1,408,955

622,487

383,598

Net purchase of available for sale securities

(4,332,960)

(7,504,405)

(1,179,679)

Additions to investment properties

(85,625)

(100,985)

(23,312)

Purchase of property and equipment, net

(113,733)

(119,620)

(30,964)

Net cash (used in)/from investing activities

FINANCING ACTIVITIES

Increase/(decrease) in Euro commercial paper

3,742,432

(242,173)

1,018,903

Net (repayment of)/increase in borrowings

(5,758,213)

1,497,179

(1,567,714)

Dividends paid to non-controlling interests

(5,517)

(22,290)

(1,502)

Dividends paid to equity holders of the parent

(1,119,119)

–

(304,688)

Net proceeds from sale of treasury shares by Funds subsidiaries (Note 3.1)

9,119

–

2,483

Net movement in non-controlling interests

(36,599)

–

(9,964)

Dividend received on treasury shares (Note 3.1)

842

–

229

Capital notes coupon paid

(240,000)

(236,667)

(65,342)

Purchase of employees’ incentive plan shares

(40,000)

(100,800)

(10,890)

Net cash (used in)/generated from financing activities

Net (decrease)/increase in cash and cash equivalents

(81,319)

2,585,349

(22,140)

Cash and cash equivalents at the beginning of the year

19,261,633

16,676,284

5,244,115

Cash and cash equivalents at the end of the year (Note 35)