| CASH FLOW STATEMENT |
| FOR THE QUARTER
ENDED 31ST
MARCH 2005 |
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(AMOUNTS IN MILLION SHILLINGS) |
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Current
quarter |
Previous
quarter |
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31st
MARCH 2005 |
31st
December 2004 |
| |
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| I |
Cash flow from operating
activities: |
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| |
Profit before Taxation |
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|
4,984
|
5,573 |
| |
Adjustment for non-cash items: |
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| |
Depreciation and amortization |
|
667
|
626 |
| |
Allocation to Government |
|
|
643
|
1,339 |
| |
Gain/loss on sale of assets |
|
(27) |
(86) |
| |
Tax paid |
|
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|
(1,424) |
(1,141) |
| |
Gross change in loans and advances |
|
(15,932) |
(4,775) |
| |
Net change in deposits |
|
|
35,257
|
(5,498) |
| |
Net change in certificate deposits |
|
- |
-
|
| |
Net change in short term negotiable securities |
- |
-
|
| |
Net change in other assets |
|
|
(1,628) |
(90) |
| |
Net change in other liabilities |
|
(4,253) |
11,340 |
| |
Net change in SMR deposits |
|
1,500
|
500 |
| |
Net change in Treasury Bills |
|
(15,066) |
(14,683) |
| |
Net cash provided (used) by operating activities |
4,721
|
(6,895) |
| |
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| II |
Cash flow from investing
activities: |
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| |
Dividends received |
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- |
-
|
| |
Purchase of fixed assets |
|
|
(1,306) |
(654) |
| |
Proceeds on sale of fixed assets |
|
30 |
128 |
| |
Acquisition of Government securities |
|
- |
-
|
| |
Proceeds from redemption of Government securities |
- |
-
|
| |
Proceeds from redemption of Treasury Notes |
- |
-
|
| |
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| |
Net cash provided (used) by investing |
|
(1,276) |
(526) |
| |
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| III |
Cash flow from financing
activities: |
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| |
Repayment of long-term debt |
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- |
-
|
| |
Proceed from issuance of long-term debt |
- |
-
|
| |
Proceeds from issue of shares |
|
- |
-
|
| |
Dividend paid to shareholders |
|
(4,500) |
-
|
| |
Net change in other borrowings |
|
- |
-
|
| |
Others |
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|
- |
-
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| |
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Net cash provided (used) by financing activities |
(4,500) |
-
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| |
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| IV |
Cash
and cash equivalents |
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| |
Net increase (decrease) in cash and cash equivalents |
(1,055) |
(7,420) |
| |
Cash and cash equivalent at the beginning of
the quarter |
154,772
|
162,192 |
| |
Cash and cash equivalent at the end
of the quarter |
153,716
|
154,772 |
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Signed by |
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Christo De Vries |
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Chief Executive Officer |
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Johann De Wet |
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Director of Finance |
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Severin Ndaskoi |
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Head of Internal Audit |
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We,
the undersigned non-executive members of the board
of directors, attest to the correctness |
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of
the above statements. We declare that the statements
have been examined by us, and to the |
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best of our knowledge and
belief have been prepared in conformance with the
instructions and |
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are
true and correct. |
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Signed by |
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1 |
Charles Nyirabu |
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Chairman |
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2 |
Honourable Nazir Karamagi |
Director |
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