My Report
Financial Statements
Statement of Cash Flows
Managing Director/Chief Executive Officer's and Chief Financial Officer's Statement of Responsibility
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Independent Assurance Report - Internal Control
GROUP |
BANK |
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For the year ended December 31, |
Note |
2024 Rs. ’000 |
2023 Rs. ’000 |
2024 Rs. ’000 |
2023 Rs. ’000 |
| Cash flows from operating activities | |||||
| Profit before income tax | 97,808,357 | 33,927,001 | 95,534,611 | 31,880,160 | |
| Adjustments for: | |||||
| Non-cash items included in profit or Loss and other Comprehensive Income | 63 | (59,700,533) | 36,135,811 | (60,723,394) | 35,977,444 |
| Change in operating assets | 64 | (244,015,913) | (178,560,551) | (233,400,043) | (177,671,173) |
| Change in operating liabilities | 65 | 138,769,911 | 181,930,677 | 128,849,627 | 181,162,526 |
| (Gains)/losses on sale of property, plant and equipment | 17 | (15,939) | (21,048) | (2,197) | (3,167) |
| Loss on sale of investment property | 17 | 3,225 | – | – | – |
| Share of (profit)/loss of associate, net of tax | 37.1 | 460 | (3,495) | – | – |
| Dividends received from investments in subsidiaries | 17 | – | – | (93,600) | (384,601) |
| Proceeds received from the voluntary liquidation of a subsidiary | (3,105) | – | (3,105) | – | |
| Interest expense on subordinated liabilities | 13.2 | 7,242,090 | 5,247,288 | 7,242,090 | 5,247,288 |
|
Net unrealised gains/(losses) arising from translating the Financial Statements of foreign operations |
55.4 | (11,971,874) | (12,116,058) | (10,890,433) | (11,086,172) |
| Benefits paid on defined benefit plans | (270,771) | (610,920) | (255,784) | (601,335) | |
| Income tax paid | 47 | (20,193,005) | (25,270,440) | (19,558,649) | (24,526,988) |
| Net cash from/(used in) operating activities | (92,347,097) | 40,658,265 | (93,300,877) | 39,993,982 | |
| Cash flows from investing activities | |||||
| Purchase of property, plant and equipment | 38.1 to 38.4 | (3,397,817) | (2,826,122) | (3,243,491) | (2,576,818) |
| Proceeds from sale of property, plant and equipment | 42,495 | 33,221 | 5,264 | 15,092 | |
| Proceeds from sale of investment property | 9,000 | – | – | – | |
| Purchase of financial investments | (3,151,144) | – | (3,151,144) | – | |
| Proceeds from sale and maturity of financial investments | 1,644,409 | 1,061,999 | 1,644,409 | 1,061,999 | |
| Purchase of intangible assets | 40.1 & 40.2 | (1,646,414) | (1,142,983) | (1,625,594) | (1,115,994) |
| Proceeds received from the voluntary liquidation of a subsidiary | 3,105 | – | 3,105 | – | |
| Dividends received from investments in subsidiaries | 17 | – | – | 93,600 | 384,601 |
| Net cash from/(used in) investing activities | (6,496,366) | (2,873,885) | (6,273,851) | (2,231,120) | |
| Cash flows from financing activities | |||||
| Proceeds from right issue of ordinary shares | 51 | 22,543,555 | – | 22,543,555 | – |
| Proceeds from issue of ordinary voting shares under employee share option plans | 51 | 272,475 | 51,740 | 272,475 | 51,740 |
| Proceeds from issue of subordinated liabilities | 50 | 20,000,000 | 12,000,000 | 20,000,000 | 12,000,000 |
| Redemption of subordinated liabilities | 50 | – | (32,393,840) | – | (32,393,840) |
| Interest paid on subordinated liabilities | (6,017,352) | (6,249,529) | (6,017,352) | (6,249,529) | |
| Payment of lease liabilities/advance payment of right-of-use assets | (1,719,337) | (1,745,373) | (1,893,969) | (1,904,590) | |
| Dividend paid to shareholders | (5,165,595) | (3,222) | (5,165,595) | (3,222) | |
| Withholding tax paid on scrip dividend | (1,142,772) | (836,850) | (1,142,772) | (836,850) | |
| Dividend paid to non-controlling interest | 56 | (20,364) | (14,367) | – | – |
| Net cash from/(used in) financing activities | 28,750,610 | (29,191,441) | 28,596,342 | (29,336,291) | |
| Net increase/(decrease) in cash and cash equivalents | (70,092,853) | 8,592,939 | (70,978,386) | 8,426,571 | |
| Cash and cash equivalents as at January 01, | 159,716,458 | 151,123,519 | 157,833,872 | 149,407,301 | |
| Gross cash and cash equivalents as at December 31, | 28 | 89,623,605 | 159,716,458 | 86,855,486 | 157,833,872 |
| Less: Impairment charges on cash and cash equivalents | 28.1 | (8,146) | (14,951) | (7,195) | (14,585) |
| Net cash and cash equivalents as per Statement of Financial Position | 28 | 89,615,459 | 159,701,507 | 86,848,291 | 157,819,287 |
The Notes appearing on pages 307 to 458 form an integral part of these Financial Statements.