Annual report 2011 - VTB

VTB BankConsolidated Statements of Cash Flows for the Years Ended 31 December(in billions of Russian Roubles)Note 2011 2010Cash flows from operating activitiesInterest received 382.3 302.6Interest paid (176.4) (158.0)(Loss incurred) / income received on operations with financialinstruments at fair value through profit or loss (23.3) 13.9Income received / (loss incurred) on dealing in foreign currency 10.8 (7.6)Fees and commissions received 48.0 28.3Fees and commissions paid (7.6) (4.6)Other operating income received 2.0 1.6Staff costs, administrative expenses paid (122.1) (83.5)Income received from non-banking activities 17.8 7.0Expenses paid in non-banking activities (7.3) (1.8)Income tax paid (28.8) (22.8)Cash flows from operating activities before changes in operatingassets and liabilities 95.4 75.1Net decrease / (increase) in operating assetsNet increase in mandatory reserve deposits with central banks (37.3) (0.5)Net decrease in restricted cash – 0.2Net increase in correspondent accounts in precious metals (6.8) (1.6)Net (increase) / decrease in financial assets at fair value throughprofit or loss (159.8) 42.8Net decrease in due from other banks 11.6 58.4Net increase in loans and advances to customers (971.2) (289.3)Net increase in other assets (44.1) (22.3)Net (decrease) / increase in operating liabilitiesNet increase in due to other banks 232.5 79.8Net increase in customer deposits 832.7 361.5Net increase / (decrease) in debt securities issued other than bonds 78.9 (14.6)Net increase in other liabilities 19.2 7.6Net cash from operating activities 51.1 297.1Cash flows used in investing activitiesDividends received 0.8 0.8Proceeds from sale or redemption of financial assets available-for-sale 58.5 13.3Purchase of financial assets available-for-sale (125.6) (43.9)Purchase of subsidiaries, net of cash acquired 42 5.8 8.1Disposal of subsidiaries, net of cash disposed 42 (1.1) 0.2Purchase of and contributions to associates and joint ventures 13 (109.1) (0.6)Proceeds from sale of share in associates and joint ventures 6.6 –Purchase of investment securities held-to-maturity (1.2) (0.8)Proceeds from redemption of investment securities held-to-maturity 2.3 1.2Purchase of premises and equipment (36.9) (31.3)Proceeds from sale of premises and equipment 40.1 2.9Purchase or construction of investment property (0.3) –Proceeds from sale of investment property 1.3 –Purchase of intangible assets (2.7) (1.4)Proceeds from sale of intangible assets 1.2 –Net cash used in investing activities (160.3) (51.5)The notes 1 - 44 form an integral part of these consolidated financial statements 4