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Statement of Cash Flows
1999-06-30
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
 

1 January to 30 June  1999

1 January to 30 June  1998

 

(US$ million)

OPERATING ACTIVITIES

Net profit for the period

60 

49 

Items not involving cash flow:

     Loan loss provisions

48 

91 

     Depreciation

12 

12 

Items considered separately:

     Gains less losses on investment securities

(13)

Changes in operating assets and liabilities:

     Trading securities

(52)

     Placements with banks and other financial institutions

1188 

1000 

     Loans and advances

379 

(279)

     Other assets

(172)

66 

     Deposits from customers

(721)

(511)

     Deposits from banks and other financial institutions

(714)

834 

     Other liabilities

196 

Other non-cash movements

35 

(711)

Net cash inflow (outflow) from operating activities

265 

543 

 

INVESTING ACTIVITIES  

Purchase of investment securities - net

(49)

(341)

Sale of investments - net

23 

Purchase of premises and equipment

(18)

(19)

Sale of premises and equipment

13 

17 

 

 

Net cash (outflow) inflow from investing activities

(31)

(342)

 

FINANCING ACTIVITIES

Issue (repayment) of certificates of deposit - net

52 

(123)

Repayment of term notes, bonds and other term financing

(225)

(93)

Dividend paid

(60)

 

 

Net cash (outflow) inflow from financing activities

(173)

(276)

 

Increase (decrease) in liquid funds

61 

(75)

Foreign exchange translation differences

(6)

39 

Liquid funds at beginning of the year *

295 

316 

Liquid funds at end of the period *

350 

280 

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


 

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