in thousands of EUR

Note

2020

2019

 

 

 

 

Operating activities

 

 

 

Net profit

 

27,203

39,005

 

 

 

 

Net profit adjustments for:

 

 

 

Depreciation

28

12,812

10,116

Amortisation

28

10,646

10,319

Amortisation premium and discount debt securities

4

10,752

9,512

Impairment losses on financial instruments

29

24,213

3,682

Interest expense on lease liabilities

9

216

465

Revaluation participating debt (investment securities)

5

568

-430

Value adjustments property and equipment (incl. leases)

 

5,244

312

Movements in provisions

17

-2,623

-560

Taxation on operating result

 

8,273

15,086

Tax paid

30

-10,961

-8,352

 

 

 

 

Net cash flows from business operations

 

86,343

79,155

 

 

 

 

Changes in:

 

 

 

Loans and advances to banks

2

-1,378

47,837

Loans and advances to customers

3

-970,326

-946,353

Debt securities at amortised cost

4

-301,760

229,238

Deposits from banks

13

744,420

2,686

Deposits from customers

14

1,053,508

1,129,966

Other operating activities

 

37,842

-33,368

 

 

 

 

Net cash flows from operational activities

 

648,649

509,161

 

 

 

 

Investment activities

 

 

 

Investment in investment securities

5

-12,369

-1,226

Investment in intangible assets

6

-14,977

-13,415

Investment in property and equipment

7

-3,008

-25,362

Divestment in property and equipment

7

1,226

4

 

 

 

 

Cash flows from investment activities

 

-29,128

-39,999

 

 

 

 

Financing activities

 

 

 

Movements in Debt issued and other borrowed funds

16

6,368

-

Payments of lease liabilities

9

-3,578

-4,297

Increase share capital

18

5,450

53,656

Payment of cash dividend

18

-

-5,035

Purchase of depository receipts of own shares

18

-20,499

-126

 

 

 

 

Cash flows from financing activities

 

-12,259

44,198

 

 

 

 

Net change in cash and cash equivalents

 

607,262

513,360

 

 

 

 

Cash and cash equivalents at the beginning of the year

 

2,475,031

1,961,935

 

 

 

 

Effect of exchange rate fluctuations on cash and cash equivalents held

 

112

-264

 

 

 

 

Cash and cash equivalents at the end of the year

 

3,082,405

2,475,031

 

 

 

 

On demand deposits with central banks

 

2,955,787

2,269,983

On demand deposits with banks

 

126,618

205,048

 

 

 

 

Cash and cash equivalents at the end of the year

 

3,082,405

2,475,031

 

 

 

 

Additional information on operational cash flows from interest and dividends

 

 

 

Interest paid

 

-24,257

-29,622

Interest received

 

216,686

215,533

Dividend received

 

449

679