in thousands of EUR | Note | 2021 | 2020 |
---|---|---|---|
Operating activities |
|
|
|
Net profit |
| 50,759 | 27,203 |
|
|
|
|
Net profit adjustments for: |
|
|
|
Depreciation | 12,140 | 12,812 | |
Amortisation | 11,687 | 10,646 | |
Amortisation premium and discount debt securities | 10,787 | 10,752 | |
Impairment losses on financial instruments | -420 | 24,213 | |
Interest expense on lease liabilities | 408 | 216 | |
Revaluation participating debt (investment securities) | -654 | 568 | |
Value adjustments property and equipment (incl. leases) |
| 2,318 | 5,244 |
Value adjustments intangible assets |
| 333 | - |
Movements in provisions | 2,216 | -2,623 | |
Taxation on operating result | 16,390 | 8,273 | |
Tax paid | -19,350 | -10,961 | |
Net cash flows from business operations |
| 86,614 | 86,343 |
|
|
|
|
Changes in: |
|
|
|
Loans and advances to banks | -96,581 | -1,378 | |
Loans and advances to customers | -1,031,478 | -970,326 | |
Debt securities at amortised cost | -166,295 | -301,760 | |
Deposits from banks | 793,166 | 744,420 | |
Deposits from customers | 1,537,865 | 1,053,508 | |
Other operating activities |
| 2,983 | 37,842 |
Net cash flows from operational activities |
| 1,126,274 | 648,649 |
|
|
|
|
Investment activities |
|
|
|
Investment in investment securities | -4,998 | -12,369 | |
Investment in intangible assets | -14,472 | -14,977 | |
Investment in property and equipment | -2,228 | -3,008 | |
Divestment in property and equipment | 2,136 | 1,226 | |
Cash flows from investment activities |
| -19,562 | -29,128 |
|
|
|
|
Financing activities |
|
|
|
Issuance of Debt issued and other borrowed funds | 247,868 | 6,368 | |
Payments of lease liabilities | -3,624 | -3,578 | |
Increase share capital | - | 5,450 | |
Payment of cash dividend | -9,241 | - | |
Purchase of depository receipts of own shares | -900 | -20,499 | |
Cash flows from financing activities |
| 234,103 | -12,259 |
|
|
|
|
Net change in cash and cash equivalents |
| 1,340,815 | 607,262 |
|
|
|
|
Cash and cash equivalents at the beginning of the year |
| 3,082,405 | 2,475,031 |
|
|
|
|
Effect of exchange rate fluctuations on cash and cash equivalents held |
| -355 | 112 |
Cash and cash equivalents at the end of the year |
| 4,422,865 | 3,082,405 |
|
|
|
|
On demand deposits with central banks |
| 4,277,589 | 2,955,787 |
On demand deposits with banks |
| 145,276 | 126,618 |
Cash and cash equivalents at the end of the year |
| 4,422,865 | 3,082,405 |
|
|
|
|
Additional information on operational cash flows from interest and dividends |
|
|
|
Interest paid |
| -40,735 | -22,588 |
Interest received |
| 244,243 | 216,513 |
Dividend received |
| 310 | 449 |