Consolidated cashflow statement for 2011

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Amounts in thousands of EUR

2011

2010

 

 

 

Cashflow from operating activities

 

 

Net profit

17,324

11,509

Adjustments for:

 

 

• depreciation

5,513

4,850

• value adjustments to receivables

15,801

9,843

• value adjustments to participating interests

107

119

• exchange rate differences on property and equipment

–42

–1

• movements in provisions

134

–64

• other movements in accrued and deferred items

4,200

–19,154

 

 

 

 

 

 

Cashflow from business operations

43,037

7,102

 

 

 

Movement in government paper

–15,000

Movement in banks, deposits not on demand

–60,957

128,978

Movement in loans

–725,976

–476,551

Movements in shares

–1

Movement in banks, liabilities not on demand

10,919

14,423

Movement in funds entrusted

692,032

454,059

Other movements from operating activities

7,759

–18,736

 

 

 

 

 

 

CASHFLOW FROM OPERATING ACTIVITIES

–48,186

109,274

 

 

 

Cashflow from investment activities

 

 

Net investments in:

 

 

• interest-bearing securities

13,576

–75,654

• participating interests

–608

–78

• intangible fixed assets

–1,593

–2,723

• property and equipment

–6,664

–5,404

 

 

 

 

 

 

CASHFLOW FROM INVESTMENT ACTIVITIES

4,711

–83,859

 

 

 

Cashflow from financing activities

 

 

Movement in subordinated liabilities

–7,500

Increase in equity

75,004

34,382

Payment of cash dividend

–3,320

–2,801

Purchases of depository receipts for own shares

444

 

 

 

 

 

 

CASHFLOW FROM FINANCING ACTIVITIES

64,184

32,025

 

 

 

 

 

 

Net cashflow

20,709

57,440

 

 

 

Cash and cash equivalents at beginning of the year

415,689

358,249

 

 

 

 

 

 

Cash and cash equivalents at the end of the year

436,398

415,689

On demand deposits with central banks

51,631

44,814

On demand deposits with banks

384,767

370,875

 

 

 

 

 

 

Cash and cash equivalents at the end of the year

436,398

415,689