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BANK |
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| For the year ended December 31, | Note | 2023 Rs. ’000 |
2022 Rs. ’000 |
2023 Rs. ’000 |
2022 Rs. ’000 |
| Cash flows from operating activities | |||||
| Profit before income tax | 33,927,001 | 24,505,038 | 31,880,160 | 22,598,385 | |
| Adjustments for: | |||||
Non-cash items included in profit before tax |
63 | 36,135,811 | 91,299,070 | 35,977,444 | 90,747,133 |
Change in operating assets |
64 | (178,560,551) | (463,345,077) | (177,671,173) | (424,402,972) |
Change in operating liabilities |
65 | 181,930,677 | 430,778,836 | 181,162,526 | 396,536,876 |
(Gains)/losses on sale of property, plant and equipment |
17 | (21,048) | (20,118) | (3,167) | (10,868) |
Share of (profit)/loss of associate, net of tax |
37.1 | (3,495) | 3,727 | – | – |
Dividends received from investments in associate and subsidiaries |
17 | – | – | (384,601) | (109,600) |
Interest expense on subordinated liabilities |
13.2 | 5,247,288 | 4,843,571 | 5,247,288 | 4,843,571 |
Net unrealised gains/(losses) arising from translating the Financial Statements of foreign operations |
55.4 | (12,116,058) | 18,347,815 | (11,086,172) | 14,876,983 |
Benefits paid on defined benefit plans |
(610,920) | (780,828) | (601,335) | (765,208) | |
Income tax paid |
47 | (25,270,440) | (11,143,271) | (24,526,988) | (10,643,395) |
Surcharge tax paid |
– | (5,216,574) | – | (5,036,184) | |
| Net cash from/(used in) operating activities | 40,658,265 | 89,272,189 | 39,993,982 | 88,634,721 | |
| Cash flows from investing activities | |||||
| Purchase of property, plant and equipment | 38.1 to 38.4 | (2,826,122) | (3,370,339) | (2,576,818) | (3,144,592) |
| Proceeds from sale of property, plant and equipment | 33,221 | 47,856 | 15,092 | 12,132 | |
| Purchase of financial investments | – | (1,200,000) | – | (1,200,000) | |
| Proceeds from sale and maturity of financial investments | 1,061,999 | 952,369 | 1,061,999 | 952,369 | |
| Purchase of intangible assets | 40.1 & 40.2 | (1,142,983) | (2,224,915) | (1,115,994) | (2,218,024) |
| Dividends received from investments in associate and subsidiaries | 17 | – | – | 384,601 | 109,600 |
| Net cash from/(used in) investing activities | (2,873,885) | (5,795,029) | (2,231,120) | (5,488,515) | |
| Cash flows from financing activities | |||||
| Proceeds from issue of ordinary voting shares under employee share option plans |
51 | 51,740 | – | 51,740 | – |
| Proceeds from issue of subordinated liabilities | 50 | 12,000,000 | 10,000,000 | 12,000,000 | 10,000,000 |
| Redemption of subordinated liabilities | 50 | (32,393,840) | – | (32,393,840) | – |
| Interest paid on subordinated liabilities | (6,249,529) | (4,283,280) | (6,249,529) | (4,283,280) | |
| Payment of lease liabilities/advance payment of right-of-use assets | (1,745,373) | (2,055,498) | (1,904,590) | (2,197,452) | |
| Dividend paid to shareholders | (3,222) | (5,343,490) | (3,222) | (5,343,804) | |
| Withholding tax paid on scrip dividend | (836,850) | – | (836,850) | – | |
| Dividend paid to non-controlling interest | 56 | (14,367) | (14,365) | – | – |
| Net cash from/(used in) financing activities | (29,191,441) | (1,696,633) | (29,336,291) | (1,824,536) | |
| Net increase/(decrease) in cash and cash equivalents | 8,592,939 | 81,780,527 | 8,426,571 | 81,321,670 | |
| Cash and cash equivalents as at January 01, | 151,123,519 | 69,342,992 | 149,407,301 | 68,085,631 | |
| Gross cash and cash equivalents as at December 31, | 28 | 159,716,458 | 151,123,519 | 157,833,872 | 149,407,301 |
| Less: Impairment charges on cash and cash equivalents | 28.1 | (14,951) | (14,029) | (14,585) | (13,690) |
| Cash and cash equivalents as per Statement of Financial Position | 28 | 159,701,507 | 151,109,490 | 157,819,287 | 149,393,611 |
The Notes to the Financial Statements 1 to 68 form an integral part of these Financial Statements.