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Amounts in thousands of EUR

Note

2022

2021

Operating activities

 

 

 

Net profit

 

49,940

50,759

 

 

 

 

Net profit adjustments for:

 

 

 

Depreciation

28

11,481

12,140

Amortisation

28

13,908

11,687

Amortisation premium and discount debt securities

4

9,528

10,787

Impairment losses on financial instruments

29

8,127

-420

Interest expense on lease liabilities

9

345

408

Revaluation participating debt (investment securities)

5

663

-654

Value adjustments property and equipment (incl. leases)

 

92

2,318

Value adjustments intangible assets

 

-

333

Movements in provisions

16

2,182

2,216

Taxation on operating result

30

17,144

16,390

Tax paid

30

-13,125

-19,350

Net cash flows from business operations

 

100,285

86,614

 

 

 

 

Changes in:

 

 

 

Loans and advances to banks

2

-25,684

-96,581

Loans and advances to customers

3

-734,588

-1,031,478

Debt securities at amortised cost

4

-236,910

-166,295

Deposits from banks

13

-1,271,219

793,166

Deposits from customers

14

531,268

1,537,865

Other operating activities

 

42,815

2,983

Net cash flows from operational activities

 

-1,594,033

1,126,274

 

 

 

 

Investment activities

 

 

 

Investment in investment securities

5

-5,866

-4,998

Divestment in investment securities

5

5,428

-

Investment in intangible assets

6

-16,902

-14,472

Investment in property and equipment

7

-2,678

-2,228

Divestment in property and equipment

7

7,176

2,136

Cash flows from investment activities

 

-12,842

-19,562

 

 

 

 

Financing activities

 

 

 

Issuance of debt issued and other borrowed funds

17

-

247,868

Payments of lease liabilities

9

-3,398

-3,624

Increase share capital

18

-

-

Payment of cash dividend

18

-44,925

-9,241

Purchase of depository receipts of own shares

18

-

-900

Cash flows from financing activities

 

-48,323

234,103

 

 

 

 

Net change in cash and cash equivalents

 

-1,655,198

1,340,815

 

 

 

 

Cash and cash equivalents at the beginning of the year

 

4,422,865

3,082,405

 

 

 

 

Effect of exchange rate fluctuations on cash and cash equivalents held

 

-255

-355

Cash and cash equivalents at the end of the year

 

2,767,412

4,422,865

 

 

 

 

On demand deposits with central banks

 

2,581,140

4,277,589

On demand deposits with banks

 

186,272

145,276

Cash and cash equivalents at the end of the year

 

2,767,412

4,422,865

 

 

 

 

Additional information on operational cash flows from interest and dividends

 

 

 

Interest paid

 

-13,237

-40,735

Interest received

 

274,668

244,243

Dividend received

 

616

310