Consolidated Statement of Cash Flows

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In billions of Russian Roubles Note 2012 2011
Cash flows from operating activities
Interest received 1,135.7 826.6
Interest paid (384.5) (231.7)
Expenses paid directly attributable to deposit insurance (22.9) (19.3)
Fees and commissions received 188.3 152.2
Fees and commissions paid (16.7) (10.7)
Net gains received from trading securities 5.9 0.4
Net (losses incurred) / gains received from securities designated at fair value through profit or loss (1.7) 0.2
Net gains received from trading in foreign currencies and from operations with foreign currency derivatives 16.6 2.1
Net (losses incurred) / gains received from operations with other derivatives (0.7) 1.5
Net gains received from operations with precious metals and precious metals derivatives 5.0 7.0
Revenue of non-core business activities 48.7 66.8
Cost of sales of non-core business activities (34.4) (50.0)
Other operating income received 8.5 7.9
Operating expenses paid (370.7) (303.1)
Income tax paid (100.1) (71.9)
Cash flows from operating activities before changes in operating assets and liabilities 477.0 378.0
Changes in operating assets and liabilities
Net increase in mandatory cash balances with central banks (36.2) (49.6)
Net decrease in trading securities 6.8 14.2
Net decrease in securities designated at fair value through profit or loss 31.1 41.5
Net increase in due from banks (62.3) (26.6)
Net increase in loans and advances to customers (2,003.3) (2,163.3)
Net increase in other assets (69.8) (39.9)
Net increase in due to banks 820.9 384.5
Net increase in due to individuals 867.8 869.8
Net increase in due to corporate customers 664.3 337.8
Net increase / (decrease) in debt securities in issue 257.3 (19.1)
Net (decrease) / increase in other liabilities (34.6) 28.4
Net cash from / (used in) operating activities 919.0 (244.3)
Cash flows from investing activities
Purchase of investment securities available for sale (474.9) (852.6)
Proceeds from disposal and redemption of investment securities available for sale 232.2 1 122.8
Purchase of investment securities held to maturity (8.0) (98.7)
Proceeds from redemption of investment securities held to maturity 61.1 40.0
Acquisition of premises and equipment (144.4) (109.4)
Acquisition of investment property (0.1)
Proceeds from disposal of investment property (0.2)
Proceeds from disposal of premises and equipment including insurance payments 4.5 10.9
Acquisition of subsidiaries net of cash acquired (93.2) 27.3
Proceeds from disposal of subsidiaries net of cash disposed 8.6 0.7
Dividends received 5.1 3.5
Net cash (used in) / from investing activities (409.1) 144.3
Cash flows from financing activities
Other borrowed funds received 141.9 154.4
Redemption of other borrowed funds (98.8) (98.2)
Repayment of interest on other borrowed funds (5.4) (2.4)
Subordinated debt received 66.0
Redemption of subordinated debt (0.2)
Repayment of interest on subordinated debt (19.8) (19.5)
Funds received from loan participation notes issued under the MTN programme 144.3 27.9
Redemption of loan participation notes issued under the MTN programme (8.1) (22.9)
Repayment of interest on loan participation notes issued under the MTN programme (11.8) (8.9)
Purchase of treasury shares (0.6)
Dividends paid 30 (47.3) (20.9)
Net cash from financing activities 160.2 9.5
Effect of exchange rate changes on cash and cash equivalents (4.2) 5.4
Effect of inflation on cash and cash equivalents (0.7) (8.9)
Net increase/(decrease) in cash and cash equivalents 665.2 (94.0)
Cash and cash equivalents at the beginning of the year 625.6 719.6
Cash and cash equivalents as at the end of the reporting period 7 1,290.8 625.6
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Consolidated Statement of Cash Flows
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