OPTIVA PANK

CASH FLOW STATEMENT

01.01-31.12.98

 

Audited, consolidated

Ths. EEK

 

                                                                      		     BANK                               GROUP

                                                                            1998               1997             1998               1997

Cash flows from operating activities

     Profit (loss) for the financial year                                -264,974            74,862          -253,167            63,057

     Interest receipts                                                    200,712           136,693           202,570           141,677

     Interest payments                                                    -75,437           -44,677           -77,867           -45,618

     Net change in loans                                                  147,587          -631,566           108,505          -734,763

     Net change in deposits                                              -525,727           463,168          -525,665           553,573

Adjustments

     Adjustments of expenses related to tangible assets                    14,947            15,311            29,845            25,871

     Assets revaluation                                                    77,279            28,813            75,327            22,463

     Net change in other assets                                        -1,326,251          -298,576        -1,313,136          -299,709

     Net change in other liabilities                                    1,323,542           173,846         1,326,894           186,366

     Cash flows from income tax                                           -13,688           -11,238           -14,568           -11,525

     Net change in loan provisions                                        165,647            10,782           168,685            18,297

 

Total cash flows from operating activities                               -276,363           -82,582          -272,577           -80,311

 

Cash flows from investing activities

     Deposits with other banks                                             76,538           147,838            76,538           147,838

     Purchases/sales of marketable securities                             152,327          -113,658           129,862          -130,108

     Purchases of bonds                                                   -82,733           -87,228           -33,488           -48,366

     Purchases of other investments                                       -65,402          -129,753           -85,550            -2,875

     Purchases/sales of tangible and intangible assets                     -3,670            -8,911           -27,651          -155,633

 

 

Total cash flows from investing activities                                 77,060          -191,712            59,711          -189,144

 

Cash flows from financing activities

     Loans from banks                                                    -121,572           276,677          -121,572           276,677

     Debt certificates issued                                             -36,543            34,043           -33,043            31,543

     Subordinated debts                                                         0            64,000                 0            64,000

     Cash proceeds from issuance of shares                                177,948                 0           177,948                 0

     Change in own shares                                                       0                 0             5,029             3,044

 

Total cash flows from financing activities                                 19,833           374,720            28,362           375,264

 

Net increase in cash and cash equivalents                                -179,470           100,426          -184,504           105,809

Cash and cash equivalents at beginning of year1                           584,652           484,226           590,225           484,416

Cash and cash equivalents at end of year1                                 405,182           584,652           405,721           590,225

1Cash on hand and demand deposits with other banks: Notes 3-5.