Cash and cash equivalents
Cash and cash equivalents consist of cash on hand, cash on nostro accounts with the National Bank of Poland, current amounts due from banks, as well as other cash equivalents with maturities up to 3 months from the date of acquisition.
|
31.12.2015 |
31.12.2014 |
Cash and balances with the central bank |
13 743 864 |
11 738 371 |
Current amounts due from banks |
3 520 838 |
2 516 484 |
Total |
17 264 702 |
14 254 855 |
Cash flows from interests and dividends, both received and paid
Interest income - received |
2015 |
2014 |
Interest income from loans and advances granted - received |
6 183 601 |
6 593 718 |
Interest income from investment securities - received |
696 003 |
577 828 |
Interest income from securities designated upon initial recognition at fair value through profit and loss - received |
243 691 |
341 615 |
Interest income from placements - received |
134 366 |
167 377 |
Interest income from securities from held for trading portfolio - received |
55 917 |
60 282 |
Interest income from hedging instruments |
476 850 |
276 638 |
Other interest (mainly interest income on current accounts, purchased debt, realised guarantees) - received |
1 128 955 |
1 186 604 |
Total |
8 919 383 |
9 204 062 |
Interest expense – paid |
2015 |
2014 |
Interest expense on deposits – paid |
(1 757 696) |
(1 654 030) |
Interest expense on debt securities in issue - paid |
(520 524) |
(444 150) |
Interest expense on loans and advances - paid |
(102 252) |
(124 620) |
Other interest (mainly interest expense on current accounts, premium from debt securities, interest expense on cash collateral liabilities) - paid |
(587 877) |
(599 011) |
Total |
(2 968 349) |
(2 821 811) |
Dividend income - received |
2015 |
2014 |
Dividend income from joint ventures and associates - received* |
25 571 |
21 387 |
Dividend income from other entities - received |
10 658 |
6 366 |
Total |
36 229 |
27 753 |
* Position applies to dividends received from subsidiaries under the equity method
Dividend expense – paid |
2015 |
2014 |
Dividend paid to equity holders of the parent company |
- |
(937 500) |
Total |
- |
(937 500) |
Cash flow from operating activities – other adjustments
Other adjustments |
2015 |
2014 |
Changes resulting from a business combination |
6 096 |
- |
Changes resulting from taking of control over subsidiaries |
- |
105 713 |
Valuation of debt securities in issue |
139 600 |
88 843 |
Interest accrued, discount, premium on debt securities |
(1 084 615) |
(943 465) |
Hedge accounting |
(62 861) |
130 797 |
Actuarial gains and losses |
(4 491) |
(1 537) |
Valuation and impairment allowances for investments in associates, joint ventures and other changes |
(69 385) |
(12 794) |
Currency translation differences from foreign operations |
(23 855) |
(63 490) |
Disposal and impairment allowances for tangible fixed assets and intangible assets |
(107 447) |
(50 045) |
Total |
(1 206 958) |
(745 978) |
Explanation of differences between the statement of financial position and the cash flow statement changes of items presented under operating activities in the statement of cash flows
(Gains) losses on sale and disposal of tangible fixed assets and intangible assets under investing activities |
2015 |
2014 |
Income from sale and disposal of tangible fixed assets and intangible assets |
(103 686) |
55 822 |
Gain on sale of non-current assets held for sale |
|
(73 451) |
Costs of sale and disposal of tangible fixed assets and intangible assets |
90 162 |
- |
Total |
(13 524) |
(17 629) |
Interests and dividends |
2015 |
2014 |
Interest received from investment securities, presented under investing activities |
(727 359) |
(632 863) |
Dividends received, presented under investing activities |
(36 228) |
(27 899) |
Interest paid from loans granted, presented under financing activities |
653 116 |
590 690 |
Total |
(110 471) |
(70 072) |
Change in amounts due from banks |
2015 |
2014 |
Change in the balance of the statement of financial position |
(2 066 286) |
(593 245) |
Changes resulting from a business combination |
33 050 |
- |
Exclusion of net assets of entities under control |
- |
420 406 |
Exclusion of cash acquired of entities under control |
- |
(217 107) |
Change in impairment allowances on amounts due from banks |
(294) |
28 472 |
Exclusion of a change in the balance of cash and cash equivalents |
1 004 354 |
877 865 |
Total |
(1 029 176) |
516 391 |
Change in trading assets and financial assets designated upon initial recognition at fair value through profit and loss |
2015 |
2014 |
Change in the balance of the statement of financial position |
1 710 275 |
(1 962 937) |
Exclusion of net assets of entities under control |
- |
5 599 561 |
Total |
1 710 275 |
3 636 624 |
Change in derivative financial instruments (asset) |
2015 |
2014 |
Change in the balance of the statement of financial position |
1 147 553 |
(2 493 962) |
Exclusion of net assets of entities under control |
- |
28 384 |
Total |
1 147 553 |
(2 465 578) |
Change in loans and advances to customers |
2015 |
2014 |
Change in the balance of the statement of financial position |
(10 916 324) |
(29 874 122) |
Changes resulting from a business combination |
571 420 |
- |
Exclusion of net assets of entities under control |
- |
24 877 227 |
Change in impairment allowances on amounts due from customers |
(264 732) |
(1 371 697) |
Total |
(10 609 636) |
(6 368 592) |
Change in other assets, inventories and non-current assets held for sale |
2015 |
2014 |
Change in the balance of the statement of financial position |
(46 605) |
(233 402) |
Changes resulting from a business combination |
45 833 |
- |
Exclusion of net assets of entities under control |
- |
78 801 |
Classification to non-current assets held for sale |
- |
173 044 |
Change in impairment allowances on other receivables |
(78 199) |
3 855 |
Total |
(78 971) |
22 298 |
Change in amounts due to banks |
2015 |
2014 |
Change in the balance of the statement of financial position |
(1 105 893) |
15 647 507 |
Exclusion of net assets of entities under control |
- |
(14 848 744) |
Recognition of borrowings/repayment of long-term loans received from banks in financing activities |
2 696 189 |
(10 947 679) |
Total |
1 590 296 |
(10 148 916) |
Change in amounts due to customers |
2015 |
2014 |
Change in the balance of the statement of financial position |
21 371 695 |
22 482 585 |
Changes resulting from a business combination |
(595 128) |
- |
Exclusion of net assets of entities under control |
- |
(13 490 345) |
Recognition of long-term loans and advances received from financial institutions otherthan banks/repayment of these loans and advances in financing activities |
(81 377) |
84 898 |
Total |
20 695 190 |
9 077 138 |
Change in debt securities in issue |
2015 |
2014 |
Change in the balance of the statement of financial position |
(3 867 637) |
2 754 164 |
Recognition of long-term debt securities in issue received/repayment of these debt securities in issueto financing activities |
4 519 553 |
(1 956 702) |
Total |
651 916 |
797 462 |
Change in provisions and impairment allowances |
2015 |
2014 |
Change in the balance of the statement of financial position |
(71 744) |
2 968 |
Changes resulting from a business combination |
(334 808) |
- |
Exclusion of net assets of entities under control |
- |
(43 985) |
Change in impairment allowances on amounts due from banks |
294 |
(28 472) |
Change in impairment allowances on amounts due from customers |
264 732 |
1 371 697 |
Change in impairment allowances on other receivables |
78 199 |
(3 855) |
Total |
(63 327) |
1 298 353 |
Change in other liabilities, liabilities due to insurance operations andsubordinated liabilities |
2015 |
2014 |
Change in the balance of the statement of financial position |
207 516 |
3 880 216 |
Changes resulting from a business combination |
(5 772) |
- |
Exclusion of net assets of entities under control |
- |
(3 806 803) |
Recognition of inflows/repayment of subordinated liabilities in financing activities |
- |
242 464 |
Total |
201 744 |
315 877 |
In 2015, the Group sold associates and joint ventures in the amount of PLN 22 340 thousand to NEPTUN – fizan managed by PKO Towarzystwo Funduszy Inwestycyjnych SA, in which shares of two companies were sold and shares of one were in-kind contribution. Sold associates and joint ventures had in total: cash and cash equivalents in the amount of PLN 21 491 thousand, other assets in the amount of PLN 118 591 thousand and liabilities in the amount of PLN 110 355 thousand.