 |
Consolidated Cash Flow Statement
for the year
ended December 31, 2007
(LL Millions) |
|
2007 |
2006 |
| OPERATING ACTIVITIES |
|
|
| Profit before tax |
352,709 |
296,870 |
| Adjustments for: |
|
|
| Depreciation and amortization |
31,705 |
29,661 |
| Provision for fixed assets acquired in settlement of debt |
140 |
4,876 |
| Provision for risks and charges |
2,482 |
5,239 |
| Provision for impairement of participations |
647 |
3,445 |
| Net gain on financial instruments |
(81,280) |
(106,241) |
| Gain on investments under equity method |
(1,066) |
(741) |
| (Gain) loss on sale of properties acquired in settlement of debt |
(440) |
137 |
| Write back of provision for risks and charges |
(6,268) |
(536) |
| Provision for employees' end of service benefits |
6,124 |
3,502 |
| Provisions for doubtful loans |
26,990 |
41,756 |
| Recoveries of provision for doubtful loans |
(23,033) |
(17,085) |
| Employees’ share – based payments |
17,479 |
17,927 |
| Operating profit before changes in operating assets and liabilities |
326,189 |
278,810 |
| |
|
|
Deposits with the central Banks, banks & financial institutions
maturing in more than 3 months |
(1,214,335) |
209,474 |
| Loans & advances to customers |
(2,805,205) |
(1,193,633) |
| Lebanese Treasury bills - trading |
205,046 |
(386,135) |
| Bonds & financial assets with fixed income - trading |
(158,020) |
35,203 |
| Shares, securities & financial assets with variable income - trading |
(6,497) |
(10,610) |
| Other assets |
(1,415) |
(968) |
| Regularization and other debit accounts |
(39,905) |
26,170 |
| Customers 'deposits |
3,696,359 |
2,952,603 |
| Other liabilities |
109,629 |
38,694 |
| Regularization and other credit accounts |
40,131 |
19,710 |
| Minority interest |
17,510 |
63,571 |
| Cash from operations |
169,487 |
2,032,889 |
| Employees’ end of service benefits (paid) recovered |
(2,944) |
(831) |
| Taxation paid |
(47,861) |
(29,366) |
| Provisions for contingencies and charges paid |
(23) |
(72) |
| Net cash from operating activities |
118,659 |
2,002,620 |
| |
|
|
| INVESTING ACTIVITIES |
|
|
| Bank of Lebanon certificates of deposit - other than trading |
485,337 |
(92,459) |
| Lebanese treasury bills - other than trading |
21,711 |
(471,911) |
| Bonds & financial assets with fixed income - other than trading |
(315,157) |
29,174 |
| Shares, securities & financial assets with variable income - other than trading |
(8,693) |
(83) |
| Option premium paid |
(16,755) |
|
| Purchase of tangible and intangible fixed assets |
(91,371) |
(101,128) |
| Investments and related loans under equity method |
(182) |
(13,489) |
| Proceeds from sale of properties acquired in settlement of debt |
19,648 |
7,651 |
| Cost of business combinations |
- |
(148,833) |
| Net cash from (used in) investing activities |
(94,538) |
(791,078) |
| | |
|
| FINANCING ACTIVITIES |
|
|
| Redemption of preferred shares class A |
(90,450) |
- |
| Settlement of BDL soft loan |
(27,702) |
(24) |
| Increase in share capital |
15,513 |
100,000 |
| Issue premium on capital increase |
6,196 |
804,208 |
| Treasury GDR transactions |
10,324 |
(8,417) |
| Distribution of dividends |
(125,090) |
(79,293) |
| Net cash (used in) from financing activities |
(211,209) |
816,474 |
| |
|
|
| INCREASE IN CASH AND CASH EQUIVALENTS |
1,988 |
2,028,016 |
| Net foreign exchange difference |
4,969 |
10,250 |
| Cash and cash equivalents at 1 January |
5,965,955 |
3,927,689 |
| CASH AND CASH EQUIVALENTS AT 31 DECEMBER |
5,972,912 |
5,965,955 |
| |
|
|
| Operational cash flows from interest and dividends |
|
|
| Interest received |
1,397,476 |
1,098,879 |
| Interest paid |
(1,032,123) |
(820,493) |
| Dividends received |
10,642 |
12,759
|
|
