Annual Report 2015
73
For the year ended September 30, 2015. Expressed in thousands of Trinidad and Tobago dollars ($’000)
ConsolidatedStatement of CashFlows
Notes
2015
2014
Operating activities
Net profit before taxation
1,633,484
1,568,696
Adjustments for:
Depreciation
7
145,159
150,789
Loan impairment expense, net of recoveries
4(b)(ii)
165,264
119,883
Goodwill impairment expense
8
31,510
185,000
Translation difference
151,407
(6,134)
(Profit)/loss on sale of premises and equipment
(11,661)
5,278
Realised gain on investment securities
(1,958)
(228,898)
Share of net profits of associated companies
6
(39,276)
(49,135)
Stock option expense
16
6,880
8,150
Increase in employee benefits
32,023
118,853
Increase in advances
(3,375,831)
(1,979,773)
Increase in customers’ deposits and other fund raising instruments
748,559
1,625,309
Increase in statutory deposits with Central Banks
(511,440)
(501,856)
Decrease/(increase) in other assets and investment interest receivable
256,035
(183,636)
Increase in other liabilities and accrued interest payable
66,284
55,783
Taxes paid, net of refund
(331,570)
(444,918)
Cash (used in)/provided by operating activities
(1,035,131)
443,391
Investing activities
Purchase of investment securities
(5,586,978)
(4,281,629)
Redemption of investment securities
5,800,181
4,126,002
Acquisition of controlling interest in a subsidiary
6
236,660
–
Acquisition of subsidiaries, net of cash acquired
32
959,092
–
Dividends from associated companies
6
5,638
9,740
Additions to premises and equipment
7
(287,338)
(202,825)
Proceeds from sale of premises and equipment
17,134
50,459
Cash provided by/(used in) investing activities
1,144,389
(298,253)
The accompanying notes form an integral part of these consolidated financial statements.
