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 |
Cash Flow Statement |
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 |
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For The Year Ended 30 June 2005 |
Notes |
|
2004 |
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Cash flows from operating activities |
|
|
|
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Operating profit before provision for taxation
|
|
97,603,572
|
78,552,352 |
|
Adjustments for: |
|
|
|
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Depreciation |
|
10,818,339
|
6,912,815 |
|
Interest income received on surplus funds |
|
(6,746,820)
|
(3,576,212)
|
|
Income from Tana building investment |
|
(1,031,074)
|
(1,216,485)
|
|
prior year adjustment |
|
(62,303)
|
|
|
|
|
100,581,714
|
80,672,470 |
|
(Increase) in items in course of collection |
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(42,596,344)
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(34,047,644)
|
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(Increase) in other assets |
|
(9,688,997)
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(3,969,961)
|
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(Increase) in loans and advances to customers |
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(533,263,202)
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(409,495,679)
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Increase in demand deposits |
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169,800,775
|
156,903,517 |
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Increase in saving deposits |
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449,289,886
|
391,424,887 |
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Increase in fixed deposits |
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36,182,392
|
8,020,674 |
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increase in margin held on letters of credit |
|
2,920,195
|
6,580,021 |
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increase in other liabilities |
|
48,080,104
|
49,022,748 |
|
|
|
221,306,523
|
245,111,033 |
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Income taxes paid |
|
(22,289,956)
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(10,331,984)
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Net cash inflow from operating activities
|
|
199,016,567
|
234,779,049 |
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Cash flows from investing activities |
|
|
|
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Purchase of fixed assets |
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(22,900,829)
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(20,295,030)
|
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Disposal of fixed assets |
|
5,487,611
|
|
|
Investment |
|
(2,250,000)
|
(2,750,000)
|
|
Disposal proceeds of treasury bills |
|
299,039,000
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(169,593,400) |
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Returns from: |
|
|
|
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Interest income received on surplus funds |
|
6,746,820
|
3,576,212 |
|
Income from Tana building investment |
|
1,031,074
|
1,216,485 |
|
Net cash (used in) received from investing
activities |
|
287,253,676
|
187,845,733 |
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Cash flows from financing activates |
|
|
|
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proceeds from issuance of share capital |
|
|
25,000,000 |
|
Dividends paid |
|
(38,000,000)
|
(20,000,000)
|
|
Directors bonus |
16 |
(360,000)
|
|
|
Net cash received from (used in) financing
activities
|
|
(38,360,000)
|
(5,000,000)
|
|
|
|
|
|
|
|
|
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Net increase in cash and cash equivalents |
|
447,910,243
|
51,933,316 |
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Cash and cash equivalents, opening balance
|
|
572,340,875
|
520,407,559 |
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Cash and cash equivalents, closing balance
|
|
1,020,251,118 |
572,340,875 |
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