Consolidated statement of cash flows

Annual Report 2013
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# Consolidated statement of cash flows

For the year ended 31 December 2013

(in millions of Russian rubles)

| Notes | 2013 | 2012
Cash flows from operating activities |  |  |
Profit for the reporting year |  | 8,508 | 17,488
Adjustments: |  |  |
Change in interest accruals |  | (19,883) | (24,606)
Impairment and other provisions | 12, 14, 20 | 127,120 | 48,837
Changes in unrealized revaluation of trading securities and derivative financial instruments |  | (2,458) | 13,044
Gains less losses from investment financial assets available for sale, net of impairment loss |  | (72,961) | (4,217)
Impairment of investment financial assets available for sale | 15 | 4,559 | 1,969
Changes in translation differences |  | 14,012 | (2,237)
Gains less losses on initial recognition of financial instruments and restructuring |  | (8,473) | (5,209)
Share in net income/(loss) of associates and jointly controlled entities | 17 | 648 | (607)
Gain on bargain purchase | 6 | (818) | –
(Profit)/loss on net monetary position resulting from hyperinflation |  | 921 | 398
Depreciation and amortization |  | 3,117 | 2,419
Deferred income tax | 19 | (80) | (135)
Other changes |  | (4,089) | (2,435)
Cash flows from operating activities before changes in operating assets and liabilities |  | 50,123 | 44,709
Net (increase)/decrease in operating assets |  |  |
Precious metals |  | 440 | (477)
Financial assets at fair value through profit or loss |  | (24,518) | (12,289)
Amounts due from credit institutions |  | 16,898 | (40,351)
Loans to customers |  | (396,798) | (315,197)
Amounts due from the Russian Government |  | (111) | 0
Other assets |  | (32,436) | (19,725)
Net increase (decrease) in operating liabilities |  |  |
Amounts due to credit institutions, net of long-term interbank financing |  | (19,571) | 63,116
Amounts due to the Russian Government and the Bank of Russia, net of long-term special purpose financing |  | (22,296) | 108,799
Amounts due to customers |  | 62,206 | (16,490)
Debt securities issued, net of bonds and Eurobonds |  | 738 | 5,192
Other liabilities |  | 21,939 | 7,788
Net cash flows used in operating activities |  | (343,386) | (174,925)
Cash flows from investing activities |  |  |
Purchase of investment financial assets |  | (161,454) | (350,672)
Proceeds from sale and redemption of investment financial assets |  | 243,107 | 290,090
Redemption of investment financial assets held to maturity |  | 15,000 | –
Investments in associates and jointly controlled entities | 6,17 | (2,454) | (2,548)
Acquisition of subsidiaries, net of cash acquired | 6 | (2,389) | –
Purchase of property and equipment |  | (5,861) | (7,918)
Proceeds from sale of property and equipment |  | 332 | 258
Subordinated loans repaid by Russian credit institutions |  | – | 50,000
Net cash flows used in/from investing activities |  | 86,281 | (20,790)
Cash flows from financing activities |  |  |
Long-term interbank financing raised | 22 | 165,878 | 91,155
Long-term interbank financing repaid | 22 | (70,174) | (40,243)
Long-term special purpose financing raised from the Russian Ministry of Finance |  | – | 50,000
Long-term financing repaid to the Russian Ministry of Finance |  | – | (50,000)
Placement of bonds and Eurobonds | 24 | 204,007 | 138,201
Redemption of bonds | 24 | (16,571) | –
Purchase of bonds issued by the Group |  | (17,525) | (26,561)
Proceeds from sale of previously purchased bonds |  | 19,073 | 16,643
Change in interest in existing subsidiaries | 6 | 372 | 41
Contribution to additional paid-in capital from the Russian Government, receipt of subsidies and government assistance |  | – | 80,000
Net cash flows from financing activities |  | 285,060 | 259,236
Effect of changes in foreign exchange rates against the ruble on cash and cash equivalents |  | 8,042 | (1,552)
Net increase in cash and cash equivalents |  | 35,997 | 61,969
Cash and cash equivalents, beginning | 10 | 239,997 | 178,028
Cash and cash equivalents, ending | 10 | 275,994 | 239,997
Supplemental information: |  |  |
Income tax paid |  | (3,033) | (3,096)
Interest paid |  | (121,138) | (115,338)
Interest received |  | 200,128 | 168,979
Dividends received |  | 7,882 | 10,469

The accompanying notes 1 to 36 are an integral part of these consolidated financial statements. Download notes (PDF, 675Kb)

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