|
CASHFLOW STATEMENT |
FOR THE |
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|
|
|
|
|
|
|
|
|
|
|
(AMOUNTS IN MILLION
SHILLINGS) |
| |
|
|
|
|
|
Current
year |
Previous
year |
| |
|
|
|
|
|
31
st December 2004 |
31
st December 2003 |
| |
|
|
|
|
|
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| I |
Cash flow from
operating activities: |
|
|
|
| |
Profit before Taxation |
|
|
14,601 |
14,140 |
| |
Adjustment for non-cash items: |
|
|
|
| |
Allocation to Government |
|
|
5,208 |
1,906 |
| |
Depreciation and amortization |
|
2,395 |
1,939 |
| |
Gain/loss on sale of assets |
|
(1,283) |
(20) |
| |
Tax paid |
|
|
|
(4,607) |
(4,733) |
| |
Net change in money market placements |
- |
- |
| |
Net change in loans and advances |
|
(30,403) |
(63,832) |
| |
Net change in deposits |
|
|
22,116 |
22,616 |
| |
Net change in certificate deposits |
|
-
|
- |
| |
Net change in short term negotiable
securities |
-
|
- |
| |
Net change in other assets |
|
|
528 |
9,763 |
| |
Net change in other liabilities |
|
5,259 |
5,570 |
| |
Other-net change in SMR deposits |
|
(4,500) |
(1,500) |
| |
Net change in Treasury Bills |
|
(3,506) |
3,398 |
| |
Net cash provided (used) by operating
activities |
5,806 |
(10,753) |
| |
|
|
|
|
|
|
|
| II |
Cash flow from
investing activities: |
|
|
|
| |
Dividends received |
|
|
-
|
- |
| |
Purchase of fixed assets |
|
|
(3,900) |
(5,089) |
| |
Proceeds on sale of fixed assets |
|
1,667 |
69 |
| |
Acquisition of Government securities |
|
-
|
(26,172) |
| |
Proceeds from redemption of Government
securitie/td>
|
591 |
4,746 |
| |
Proceeds from redemption of Treasury
Notes |
2,373 |
7,586 |
| |
Net cash provided (used) by investing |
|
731 |
(18,860) |
| |
|
|
|
|
|
|
|
| III |
Cash flow from
financing activities: |
|
|
|
| |
Repayment of long-term debt |
|
-
|
- |
| |
Proceed from issuance of long-term
debt |
|
- |
| |
Proceeds from issue of shares |
|
-
|
- |
| |
Dividend paid to members of the bank |
|
(9,000) |
(7,500) |
| |
|
- |
- |
|
| |
Others |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
Net cash provided (used) by financing
activities |
(9,000) |
(7,500) |
| |
|
|
|
|
|
|
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| IV |
Cash
and cash equivalents |
|
|
|
|
| |
Net increase (decrease) in cash and
cash equivale |
(2,463) |
(37,113) |
| |
Cash and cash equivalent at the beginning
of the year |
157,235 |
194,348 |
| |
Cash and cash equivalent at the end
of the year |
154,772 |
|
|
|
|
|
|
|
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|
The above extracts are from the Financial Statements
of the Bank for the year ended December 31,2004
which have been prepared in accordance with International
Financial Reporting standard (IFRS). The Financial
Statements were audited by KPMG Certified Public
Accountants and received an unqualified audit
report.
Johann De Wet Finance
Director
Severin Ndaskoi Head of Internal Audit
The
Financial Statements were approved by the Board
of Directors and signed on their behalf by :
Ambassador Charles Nyirabu Chairman
Blandina Nyoni Non-Executive Director
Christo De Vries Managing Director
Dated: 18th March 2004
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