ANNUAL REPORT 2020

Consolidated Statement of Cash Flows

 

For the years ended 31 December Notes 2020
(SAR ’000)
2019
(SAR ’000)
Cash flows from operating activities
Income before Zakat 11,813,619 11,326,358
Adjustments to reconcile net income to net cash from/(used in) operating activities:
Gain on investments held at fair value through statement of income (FVSI) 19 (33,441) (21,617)
Depreciation and Amortisation 8 1,080,171 1,059,582
Depreciation on investment properties 9 37,977 17,221
(Gain) on sale of property and equipment, net 19 (10,256) (568)
Impairment charge for financing and other financial assets, net 7 2,165,740 1,772,265
Share in profit of an associate 19 (42,944) (23,481)
(Increase)/decrease in operating assets
Statutory deposit with SAMA and other central banks (2,796,037) (1,219,309)
Due from banks and other financial institutions 9,846,917 (3,174,273)
Financing (68,195,037) (19,696,863)
FVSI investments (4,615,776) 25,685
Other assets, net (609,530) (804,605)
Increase/(decrease) in operating liabilities
Due to banks and other financial institutions 8,544,457 (5,070,020)
Customers’ deposits 70,225,180 18,496,698
Other liabilities (958,351) 4,388,757
Zakat paid (2,032,674) (2,889,286)
Net cash generated from operating activities 24,420,015 4,186,544
Cash flows from investing activities
Purchase of property and equipment 8 (945,686) (1,527,133)
Purchase of investment property (103,480)
Purchase of FVOCI investments (2,528,010) (1,638,587)
Proceeds from disposal of FVOCI investments 163,231 1,148,963
Proceeds from maturities of investments held at amortized cost 23,898,760 91,458,865
Purchase of investments held at amortized cost (29,500,087) (94,524,237)
Net cash used in investing activities (8,911,792) (5,185,609)
Cash flows from financing activities
Dividends paid 23 (3,750,000) (7,406,250)
Payment against lease obligation (42,261) (269,789)
Net cash used in financing activities (3,792,261) (7,676,039)
Net increase (decrease) in cash and cash equivalents 11,715,962 (8,675,104)
Cash and cash equivalents at the beginning of the year 21,111,399 29,786,503
Cash and cash equivalents at the end of the year 24 32,827,361 21,111,399
Gross financing and investment income received during the year 17,579,469 16,693,465
Return on customers’, banks’ and financial institutions’ time investments paid during the year (147,912) (282,046)
17,431,557 16,411,419
Non-cash transactions:
Net change in fair value of FVOCI equity investments 254,222 178,773

The accompanying Notes from 1 to 39 form an integral part of these consolidated financial statements.

Chairman
Chief Executive Officer
Chief Financial Officer
Close