Interim Report 2007 - Irish Bank Resolution Corporation Limited (in ...

Anglo Irish Bank Interim Report 2007Consolidated statement of recognised income andexpense (unaudited)For the six months ended 31 March 2007Six months Six months Yearended ended ended31 March 31 March 30 September2007 2006 2006Profit for the period464290 658Net after tax actuarial gains in retirement benefit schemes 6 10 6Net after tax change in cash flow hedges (17) (50) (58)Net after tax change in available-for-sale financial assets (12) (2) (4)Foreign exchange translation - - 2Income and expense recognised directly in equity (23) (42) (54)Total recognised income and expense for the period 441 248 604Attributable to:Equity holders of the parent 439 247 603Minority interest 2 1 1Total441248 604mConsolidated cash flow statement (unaudited)For the six months ended 31 March 2007Six months Six months Yearended ended ended31 March 31 March 30 September2007 2006 2006mCash flows from operating activitiesProfit before taxation 574 375 850Interest earned on financial assets held on own account (140) (68) (177)Financing costs of subordinated liabilities and othercapital instruments 111 89 174Profit on disposal of Isle of Man trust business (22) - -Share of results of joint ventures (3) (4) (4)Other non-cash items 39 53 146Tax paid (29) (32) (163)530 413 826Changes in operating assets and liabilitiesNet increase in deposits 13,192 8,868 20,052Net increase in loans and advances to customers (8,740) (6,596) (15,422)Net (increase)/decrease in loans and advances to banks (190) (61) 17Net increase in assets held in respect of liabilities tocustomers under investment contracts (629) (310) (772)Net increase in investment contract liabilities 408 197 479Net decrease/(increase) in trading portfolio financial assets 77 (624) (439)Net movement in derivative financial instruments (19) 19 (22)Net decrease/(increase) in other assets 520 23 (255)Net (decrease)/increase in other liabilities (5) (18) 8Exchange movements 137 49 72Net cash flows from operating activities 5,281 1,960 4,544Cash flows from investing activitiesPurchases of financial assets (5,899) (1,637) (2,538)Sales and maturities of financial assets 1,102 1,673 2,340Interest received on financial assets net of associated hedges89 67 169Disposal of Isle of Man trust business 44 - -Purchases of property, plant and equipment (5) (2) (8)Disposals of property, plant and equipment - - 1Additions to intangible assets - software (3) (5) (12)Investments in joint venture interests (47) (1) (51)Distributions received from joint venture interests 2 - 11Net cash used in investing activities (4,717) 95 (88)Cash flows from financing activitiesProceeds of equity share issues 542 421 431Proceeds from issues of subordinated liabilities and othercapital instruments - 429 1,552Redemptions of subordinated liabilities and othercapital instruments (99) (81) (260)Coupons paid on subordinated liabilities and other capitalinstruments (79) (53) (155)Equity dividends paid (45) (39) (74)Purchases of own shares (4) (6) (35)Net cash flows from financing activities 315 671 1,459Net increase in cash and cash equivalents879 2,726 5,915Opening cash and cash equivalents 10,800 4,926 4,926Effect of exchange rate changes on cash and cash equivalents (100) (39) (41)Closing cash and cash equivalents 11,579 7,613 10,80089