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Statement of Cash Flows
1999-03-31
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)

1 January to 31 March   1999

1 January to 31 March   1998

 

(US$ million)

OPERATING ACTIVITIES

Net profit for the period

29 

35 

Items not involving cash flow:

     Loan loss provisions

19 

53 

     Depreciation

Items considered separately:

     Gains less losses on investment securities

(3)

(15)

Changes in operating assets and liabilities:

     Trading securities

52 

(105)

     Placements with banks and other financial institutions

1029 

274 

     Loans and advances

199 

(207)

     Other assets

(112)

52 

     Deposits from customers

(494)

(430)

     Deposits from banks and other financial institutions

(884)

1610 

     Other liabilities

209 

72 

Other non-cash movements

74 

(740)

Net cash inflow (outflow) from operating activities

125 

604 

 

INVESTING ACTIVITIES

Purchase of investment securities

(23)

(395)

Purchase of investments

6

(5)

Purchase of premises and equipment

(12)

(7)

Sale of premises and equipment

 

 

  

Net cash (outflow) inflow  from investing activities

(33)

(401)

 

FINANCING ACTIVITIES

(Repayment) issue of certificates of deposit - net

(73)

Repayment of term notes, bonds and other term financing

(14)

(113)

Dividend paid

(60)

Sale of treasury stock

Net cash (outflow) inflow  from financing activities

(5)

(246)

 

(Decrease) increase in liquid funds

87 

(43)

Foreign exchange translation differences

(3)

36 

Liquid funds at beginning of the year *

295 

317 

Liquid funds at end of the period *

379 

310 

* Liquid funds comprise cash, nostro balances and balances with central banks.


 

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