|
Union
Bank
UNION
BANK OF JAMAICA LIMITED
STATEMENT
OF CASH FLOWS
YEAR ENDED DECEMBER 31, 2000
|
|
2000
|
1999
|
|
|
$’000
|
$’000
|
CASH FLOWS FROM OPERATING
ACTIVITIES
|
|
|
|
Net
profit (loss) from ordinary activities
|
408,573
|
( 1,050,885)
|
|
Non-cash
items
|
|
|
|
Depreciation
|
148,844
|
67,944
|
|
Loss (gain) on disposal of fixed assets
|
49,665
|
( 8,333)
|
|
Loss on revaluation of fixed assets
|
23,781
|
-
|
|
(Gain) loss on disposal of investments
|
( 491)
|
4,645
|
|
(Write-back) provision for loan losses
|
( 20,909)
|
686,795
|
|
Share of subsidiary companies’ results
|
-
|
( 53,837)
|
|
Interest earned on Finsac bonds
|
( 4,514,457)
|
( 3,571,509)
|
|
Realised reserve on
disposal of subsidiaries
|
(
5,876)
|
-
|
|
Loan loss provision
released on sale of loans
|
(
245,049)
|
-
|
|
|
(
4,155,919)
|
(3,925,180)
|
|
Decrease
(increase) in operating assets
|
|
|
|
Owed by other banks and financial institutions
|
299,249
|
442,900
|
|
Cheques and other instruments in the course of collection
(net)
|
185,034
|
( 543,176)
|
|
Income tax recoverable
|
97,161
|
( 103,438)
|
|
Other assets
|
500,792
|
( 218,582)
|
|
|
|
|
|
(Decrease)
increase in operating liabilities
|
|
|
|
Owed to other banks and financial institutions
|
( 276,387)
|
71,523
|
|
Other liabilities
|
66,283
|
( 183,108)
|
|
|
|
|
|
Cash
used in operating activities
|
(
3,283,787
)
|
(
4,459,061
)
|
|
|
|
|
CASH FLOWS FROM INVESTING
ACTIVITIES
|
|
|
|
Disposal
(acquisition) of investments (net)
|
457,513
|
(13,760,686)
|
|
Loans
(net)
|
629,862
|
( 417,186)
|
|
Acquisition
of fixed assets
|
( 87,369)
|
( 700,507)
|
|
Proceeds
on disposal of fixed assets
|
783
|
18,463
|
|
|
|
|
|
Cash
provided by (used in) investing activities
|
1,000,789
|
(14,859,916)
|
|
|
|
|
CASH FLOWS FROM FINANCING
ACTIVITIES
|
|
|
|
Customers’
deposits
|
( 323,345)
|
12,030,734
|
|
Bank of
Jamaica advances
|
2,022,097
|
946,448
|
|
Other
loans received
|
75,166
|
4,696,333
|
|
Other
loans repaid
|
( 83,693)
|
( 12,640)
|
|
Debentures
repaid
|
-
|
( 6,000)
|
|
Issue of
shares
|
-
|
2,821,501
|
|
Capital
contribution
|
-
|
378,649
|
|
Cash
provided by financing activities
|
1,690,225
|
20,855,025
|
|
|
|
|
(DECREASE) INCREASE IN CASH
BALANCES
|
( 592,773)
|
1,536,048
|
|
|
|
|
CASH BALANCES AT THE BEGINNING
OF THE YEAR
|
3,132,452
|
1,596,404
|
|
|
|
|
CASH BALANCES AT THE END OF
THE YEAR
|
2,539,679
|
3,132,452
|
|
|
|
|
|
Cash balances comprise
|
|
|
|
Cash
|
554,161
|
575,637
|
|
Deposits
with, and money at call at, Bank of Jamaica
|
1,985,518
|
2,556,815
|
|
|
2,539,679
|
3,132,452
|
*The
Notes form an integral part of the Financial
Statements.
Next
 Notes
to the Financial Statements
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