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Annual report 2004 (PDF, 4141 kB) - Unicredit Bank

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Consolidated Cash Flow Statement for the Year Ended 31 December<br />

Year ended 31 December<br />

Notes <strong>2004</strong> 2003<br />

CZK million CZK million<br />

Cash flows from operating activities<br />

Interest income receipts 1 431 1 524<br />

Interest payments -562 -708<br />

Fee and commission receipts 316 349<br />

Net trading and other income received 674 1 407<br />

Recoveries on loans previously written off 13 0<br />

Cash payments to employees and suppliers -1 113 -976<br />

Income taxes paid -206 -15<br />

Operating cash flows before changes in operating assets and liabilities 553 1 581<br />

Changes in operating assets and liabilities:<br />

Net decrease in trading securities -398 219<br />

Net (increase)/decrease in loans and advances to banks 415 -1 163<br />

Net (increase) in loans and advances to customers -1 959 -696<br />

Net decrease in other assets -17 115<br />

Net (decrease)/increase in deposits from other banks 610 -3 164<br />

Net (decrease) in amounts due to customers -1 447 -1 594<br />

Net (decrease) in securities in issue -758 741<br />

Net increase in other liabilities -795 66<br />

Net cash (used in)/from operating activities -3 796 -3 894<br />

Cash flows from investing activities<br />

Proceeds from disposal of subsidiaries,<br />

net of cash and cash equivalents 9 122 27<br />

Purchase of property, plant and equipment and intangible assets -352 -120<br />

Proceeds from sale of property, plant and equipment<br />

and intangible assets 0 23<br />

Dividend receipts 0 0<br />

Purchases of available-for-sale securities -326 -73<br />

Proceeds from sales and redemption of securities 256 631<br />

Net cash flow from investing activities -300 488<br />

Effect of exchange rate changes on cash and cash equivalents -420 -280<br />

Net (decrease)/increase in cash and cash equivalents -4 516 -3 686<br />

Cash and cash equivalents at beginning of year 31 17 709 21 395<br />

Cash and cash equivalents at end of year 31 13 193 17 709<br />

There was no cash flow from financing activities in <strong>2004</strong> and 2003. The following notes form<br />

an integral part of these consolidated financial statements.<br />

68

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