Unconsolidated

Notes Cash
to and forming Flow
part Statement
of the Unconsolidated Financial Statements
For
*
the year
ended

December
!"#$
31, 2018
Note 2018 2017
Restated
-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation 24,966,664 39,918,456
Less: Dividend income 2,086,932 2,360,881
22,879,732 37,557,575
Adjustments:
Depreciation on fixed assets 2,361,430 2,034,205
Depreciation on Islamic financing against leased assets (Ijarah) 186,623 197,824
Amortization 486,876 373,007
Workers' Welfare Fund (2,173,437) 808,704
Provision for retirement benefits 7,265,202 672,894
Provision for compensated absences 141,698 24,687
Provision against loans and advances - net 10,795,175 1,173,304
Reversal of provision against lendings to financial institutions - net (57,600) (8,260)
Provision for diminution in value of investments - net 1,555,551 1,339,258
Reversal of provision in respect of investments disposed off during the year (60,438) (49,101)
Provision / (reversal of provision) against off balance sheet items 463,300 (599,097)
Gain on sale of operating fixed assets - net (43,565) (57,935)
Gain on sale of ijarah assets - net (1,754) (96)
Bad debts written-off directly 76,056 92,992
Unrealized gain on revaluation of investments classified as held for trading (8,524) (2,292)
Other provisions / write-offs- net 6,523 303,659
20,993,116 6,303,753
43,872,848 43,861,328
(Increase) / decrease in operating assets
Lendings to financial institutions (23,016,415) 14,851,436
Held for trading securities 3,512,807 (96,810,953)
Advances (98,353,633) (110,326,616)
Other assets (excluding advance taxation) (5,224,737) (1,804,722)
(123,081,978) (194,090,855)
(Decrease) / increase in operating liabilities
Bills payable (2,598,607) 1,631,894
Borrowings (244,526,432) 311,100,846
Deposits and other accounts 93,272,224 109,360,203
Other liabilities (excluding current taxation) 12,483,874 2,512,487
(141,368,941) 424,605,430
(220,578,071) 274,375,903
Payments on account of staff retirement benefits (6,444,103) (1,122,778)
Income taxes paid (17,619,538) (19,794,270)
Net cash flows (used in) / from operating activities (244,641,712) 253,458,855

CASH FLOW FROM INVESTING ACTIVITIES

Net investments in available for sale securities 249,422,991 (199,987,800)
Net investments in held to maturity securities 23,612,252 (7,507,546)
Net investments in subsidiaries and associates 290,067 3,475,252
Dividend income received 2,114,435 2,395,626
Investment in fixed assets and intangible assets (4,550,495) (6,686,963)
Sale proceeds from disposal of fixed assets 128,490 81,029
Sale proceeds from disposal of ijarah assets 67,966 72,260
Effect of translation of net investment in foreign branches 9,069,751 850,249
Net cash flows from / (used in) investing activities 280,155,457 (207,307,893)

CASH FLOW FROM FINANCING ACTIVITIES

Receipts of subordinated debts 9,000,000 -
Dividends paid (14,799,574) (15,479,932)
Net cash flows used in financing activities (5,799,574) (15,479,932)

Increase in cash and cash equivalents 29,714,171 30,671,030

Cash and cash equivalents at the beginning of the year 177,098,885 146,427,855

Cash and cash equivalents at the end of the year 37 206,813,056 177,098,885

The annexed notes 1 to 51 and annexures I, II and III form an integral part of these unconsolidated financial statements.

Aameer Karachiwalla Sima Kamil Amar Zafar Khan Arshad Ahmad Mir Sir Mohammed Anwar Pervez, OBE, HPk
      
      
  
   

Annual Report 2018 77