Contents - Equity Bank Group

Cashflow StatementFor the year ended 31st December 2007In millions of Kenya Shillings Note 2007 2006Cash flows from operating activitiesProfit before income tax 2,378 1,103Adjustments for:Depreciation of property and equipment 14 353 242Amortisation of intangible assets 15 70 38Profit on disposal of property and equipment - (2)2,801 1,381Change in loans and advances to customers (10,906) (5,405)Change in other assets (1,329) (1,553)Change in deposits from customers 15,199 7,289Change in other liabilities and provisions 1,004 2026,769 1,914Income tax paid 18 (392 ) (355 )Net cash used in operating activities 6,377 1,559Cash flows from investing activitiesPurchase of investment securities (11,887) (307)Investment in associate 17 (427) -Purchase of property and equipment 14 (1,493) (667)Purchase of intangible assets 14 (133) (109)Proceeds from the sale of property and equipment 2 2Net cash used in investing activities (13,938 ) (1,081 )Cash flows from financing activitiesIncrease in subordinated liabilities 4,033 485Proceeds from issue of new shares 10,996 -Dividends paid 20 (181) (181)Net cash from financing activities 14,848 304Net increase in cash and cash equivalents 7,287 782Cash and cash equivalents at 1 January 21 4,709 3,927Cash and cash equivalents at 31 December 21 11,996 4,709The notes on pages 36 to 66 are an integral part of these financial statements342007 Annual Report and Financial Statements