OPTIVA PANK

CASH FLOW STATEMENT



CONSOLIDATED AUDITED CASH FLOW STATEMENT 1999



Th. EEK

                                                  BANK          GROUP

                                                  1999    1998   1999    1998

Cash flows from operating activities

Profit (loss) for the financial year            -20640 -264974 -20640 -253167

Interest receipts                               261809  200712 247705  202570

Interest payments                              -147294  -75437-137991  -77867

Net change in loans                             307319  147587 187831  108505

Net change in deposits                          631939 -525727 598522 -525665

Adjustments

Adjust.in expenses related to tangible assets    37251   14947  53619   29845

Assets revaluation                              -40152   77279 -43711   75327

Net change in other assets                     -285838-1326251-266798-1313136

Net change in other liabilities                 149419 1323542 140339 1326894

Cash flows from income tax                        9979  -13688   5602  -14568

Net change in loan provisions                    61413  165647  84640  168685



Total cash flows from operating activities      965205 -276363 849118 -272577



Cash flows from investing activities

Deposits with other banks                      -340199   76538-341199   76538

Purchases/sales of marketable securities          2379  152327   2379  129862

Purchases of bonds                             -399332  -82733 -38262  -33488

Purchases of other investments                   51708  -65389  -5207  -85537

Purchas/sales of shares in associated enterpr.   -7467     -13   6433     -13

Purchas/sales of tangible and intang.assets     -28663   -3670  -1298  -27651



Total cash flows from investing activities     -721574   77060-377154   59711



Cash flows from financing activities

Loans from banks                                 27927 -121572  27680 -121572

Debt certificates issued                        -81438  -36543-311181  -33043

Cash proceeds from issuance of shares                0  177948      0  177948

Change in own shares                                 0       0   1885    5029



Total cash flows from financing activities      -53511   19833-281616   28362



Net increase in cash and cash equivalents       190120 -179470 190348 -184504

Cash and cash equivalents at beginning of year  405182  584652 405721  590225

Cash and cash equivalents at end of year1       595302  405182 596069  405721



Cash and cash equivalents at end of year consist of:1

Cash on hand                                     80471   59678  80471   59678

Demand deposits with the Central Bank           308032  198390 308032  198390

Demand deposits with other banks                206799  147114 207566  147652

                                                595302  405182 596069  405720





Lea Endrikson

PR specialist

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