Branko Jelínek: Portrét vlajky II. / Porträt der Flagge II. / Portrait of the ...

Cash flow
(in SKK ’000) 1999 1998
Cash flows from operating activities
Profit on ordinary activities before tax 213,540 261,026
Adjustments for:
Provision for credit losses -6,400 155,963
Reserve for general banking risks 125,991 46,239
Depreciation 88,988 85,546
Operating profit before changes in operating assets and liabilities 422,119 548,774
(Increase)/decrease in operating assets
Due from banks -628,084 -2,921,087
Due from customers 1,217,849 -1,729,081
Other assets 50,635 -44,616
Prepayments and accrued income -108,239 -268,180
Increase/(decrease) in operating liabilities
Due to banks 402,268 407,453
Due to customers 1,193,837 4,246,348
Other liabilities 69,876 65,483
Accruals and deferred income -42,826 -290,708
Net cash flow from operating activities before income tax 2,577,435 14,386
Income taxes paid 0 0
Net cash flow from operating activities 2,577,435 14,386
Cash flows from investing activities
Purchase of participating interest -11,589 -12,079
Purchase of tangible fixed assets -203,372 -124,474
Fixed interest securities -478,379 -1,363,669
Net cash flow from investing activities -693,340 -1,500,222
Cash flows from financing activities
(Decrease)/Increase in share capital and other capital funds -11 79
Dividends paid -61,965 -61,965
Net cash flow from financing activities -61,976 -61,886
Net increase in cash and cash equivalents 1,822,119 -1,547,722
Cash and cash equivalents at the beginning of the year 2,981,426 4,529,148
Cash and cash equivalents at the end of the year 4,803,545 2,981,426
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Annual Report 1999