Cash and cash equivalents as at 1 January | 2,863 | 2,955 |
| | |
Cash generated from operating activities | | |
Result before tax | 1,209 | 827 |
| | |
Adjustments on non-cash items included in result: | | |
Revaluation through profit or loss | -209 | -87 |
Retained share of result of associates and joint ventures | -7 | -3 |
| | |
Amortisation of intangible assets | 33 | 32 |
Depreciation of property, plant and equipment | 19 | 16 |
Amortisation of investments | 110 | 189 |
Amortisation of subordinated debts | 1 | 1 |
Impairments | 22 | 167 |
| | |
Changes in operating assets and liabilities: | | |
Net (increase) / decrease in investment property | 12 | 22 |
Net (increase) / decrease in investments | 2,198 | -1,010 |
Net (increase) / decrease in investments on behalf of policyholders | -1,420 | -405 |
Net (increase) / decrease in investments related to investment contracts | -428 | - |
Net (increase) / decrease in derivatives | 2,296 | -2,466 |
Net (increase) / decrease in amounts due from and to customers | -2,630 | -1,436 |
Net (increase) / decrease in amounts due from and to credit institutions | -499 | 1,819 |
Net (increase) / decrease in trade and other receivables | 4 | -46 |
Net (increase) / decrease in reinsurance contracts | 66 | 88 |
Net increase / (decrease) in liabilities arising from insurance contracts | -2,402 | 2,023 |
Net increase / (decrease) in liabilities arising from insurance contracts on behalf of policyholders | 1,429 | 482 |
Net increase / (decrease) in liabilities arising from investment contracts | 428 | - |
Net (increase) / decrease in other operating assets and liabilities | 96 | 249 |
| | |
Income tax received (paid) | -131 | -87 |
Net (increase) / decrease in assets and liabilities relating to held for sale | - | -21 |
Cash flows from operating activities | 198 | 354 |
| | |
Cash flows from investing activities: | | |
Investments in associates and joint ventures | -6 | -2 |
Proceeds from sales of associates and joint ventures | 19 | 3 |
Purchases of property, plant and equipment | -386 | -14 |
Purchases of group companies (less acquired cash positions) | -88 | -33 |
Sales of group companies (less sold cash positions) | - | - |
Purchase of intangible assets | -1 | -1 |
Cash flows from investing activities | -463 | -47 |
| | |
Cash flows from financing activities: | | |
Proceeds from issues of loans | 113 | 4 |
Repayment of loans | -9 | -2 |
Repayment of lease liabilities | -7 | -6 |
Dividend paid | -285 | -272 |
Discretionary interest to holders of equity instruments | -48 | -48 |
Non-controlling interests | 22 | - |
Purchase/ sale of treasury shares | -79 | -74 |
Cash flows from financing activities | -292 | -399 |
| | |
Cash and cash equivalents as at 31 December | 2,306 | 2,863 |
| | |
Further details on cash flows from operating activities: | | |
Interest received | 1,458 | 1,471 |
Interest paid | -370 | -330 |
Dividend received | 146 | 121 |
| | |
Further details on lease payments: | | |
Total cash outflow for leases | -6 | -6 |