Consolidated Cash Flows Statement

Indirect method
(in thousands of Euro)
31.12.2015 31.12.2014
A. OPERATING ACTIVITIES    
1. Operations 408.513 152.248
- profit(loss) for the year (+/-) 161.966 95.876
- profit/loss on financial assets/liabilities held for trading and on financial assets/liabilities carried at fair value (-/+) - (130)
- profit/loss on hedging activities - -
- net impairment losses/reversal on loans (+/-) 34.250 31.299
- net impairment losses/reversal on tangible and intangible assets (+/-) 3.746 3.239
- net allocations to provisions for risks and charges and other costs/revenues (+/-) 248 1.632
- unpaid taxes (+) 83.623 49.067
- other adjustments (+/-) 124.680 (28.735)
2. Cash flows generated/absorbed by financial assets 1.204.350 2.007.540
- financial assets held for trading (259) 10
- financial assets at fair value - -
- available for sale financial assets 1.724.190 2.272.367
- due from banks on demand 30.656 159.073
- other due from banks 148.835 (18.137)
- loans to customers (648.079) (548.696)
- other assets (50.993) 142.923
3. Cash flows generated/absorbed by financial liabilities (1.574.779) (3.137.155)
- due to banks on demand 25.146 (408)
- other due to banks (1.621.128) (4.406.472)
- due to customers 3.957 1.305.198
- outstanding securities - -
- financial liabilities held for trading 21 -
- financial liabilities at fair value - -
- other liabilities 17.225 (35.473)
Net cash flows generated/absorbed by operating activities A (+/-) 38.084   (977.367)
B. INVESTMENT ACTIVITIES    
1. Cash flows generated by: 93 1.250.584
- sale of equity investments - -
- collected dividends on equity investments - -
- sale of financial assets held to maturity - 1.250.000
- sale of tangible assets 93 584
- sale of intangible assets - -
- sale of business branches - -
2. Cash flows absorbed by: (5.970) (245.942)
- purchase of investments - -
- purchase of financial assets held to maturity - (231.947)
- purchase of tangible assets (3.261) (11.939)
- purchase of intangible assets (2.709) (2.056)
- purchase of business branches   -
Net cash flows generated/absorbed by investment activities B (+/-) (5.877) 1.004.642
C. FINANCING ACTIVITIES    
- issue/buyback of treasury shares 2.697 2.741
- issue/buyback of equity instruments 125 145
- distribution of dividends and other scopes (35.019) (30.167)
Net cash flows generated/absorbed by financing activities C (+/-) (32.197) (27.281)
NET CASH FLOWS GENERATED /ABSORBED DURING THE YEAR D=A+/-B+/-C 10 (6)
     
RECONCILIATION    
OPENING CASH AND CASH EQUIVALENTS E 24 30
NET CASH FLOWS GENERATED /ABSORBED DURING THE YEAR D 10 (6)
CASH AND CASH EQUIVALENTS: EXCHANGE RATE EFFECTS F - -
CLOSING CASH AND CASH EQUIVALENTS G=E+/-D+/-F 34 24