CONSOLIDATED STATEMENT OF CASH FLOWS
As at December 31, 2020 and 2019
| Note |
2020 SAR ’000 |
2019 SAR ’000 |
|
| Operating activities | |||
| Net income for the year before zakat | 5,483,997 | 6,232,066 | |
| Adjustments to reconcile net income for the year to net cash from operating activities: | |||
| Accretion of discounts and amortisation of premium, net on non-FVIS instruments, net | (89,884) | (112,349) | |
| Gains on non-trading investments, net | 22 | (305,068) | (255,486) |
| Gains (loss) on trading investments, net | (30,251) | (21,569) | |
| Dividend income | (102,518) | (102,866) | |
| Depreciation of property and equipment | 10 | 488,344 | 438,976 |
| Share in earnings of associates, net | (19,368) | (153,333) | |
| Impairment charge for investments, net | 44,192 | (48,028) | |
| Impairment charge for credit losses and other provisions, net | 8 (f) | 2,061,743 | 1,012,284 |
| 7,531,187 | 6,989,695 | ||
| Net (increase) decrease in operating assets: | |||
| Statutory deposit with SAMA | (782,994) | (1,038,289) | |
| Due from banks and other financial institutions maturing after three months from date of acquisition |
616,000 | 494,645 | |
| Positive fair value of derivatives | (950,110) | (322,222) | |
| Fair value through income statement (FVIS) | (43,706) | (619,607) | |
| Loans and advances, net | (19,351,710) | (23,927,290) | |
| Other real estate | (90,997) | (5,652) | |
| Other assets | (908,685) | (102,298) | |
| Net increase (decrease) in operating liabilities: | |||
| Due to banks and other financial institutions | 28,664,423 | 4,543,966 | |
| Negative fair value of derivatives | 991,708 | 374,956 | |
| Customer deposits | 8,521,437 | 24,695,743 | |
| Other liabilities | 624,921 | 2,008,446 | |
| 24,821,474 | 13,092,093 | ||
| Zakat paid | (1,117,728) | (905,404) | |
| Net cash from operating activities | 23,703,746 | 12,186,689 | |
| Investing activities | |||
| Proceeds from sales and maturities of investments not held as FVIS instruments | 59,737,569 | 61,539,244 | |
| Purchase of investments not held as FVIS instruments | (61,496,377) | (64,609,430) | |
| Purchase of property and equipment, net | (478,927) | (333,802) | |
| Net cash used in investing activities | (2,237,735) | (3,403,988) | |
| Financing activities | |||
| Debt securities in issue, net | 14 | 1,680,979 | (755) |
| Dividend paid | (1,654,811) | (2,757,618) | |
| Cash used in financing activities | 26,168 | (2,758,373) | |
| Net increase in cash and cash equivalents | 21,492,179 | 6,024,328 | |
| Cash and cash equivalents at beginning of the year | 23,473,417 | 17,449,089 | |
| Cash and cash equivalents at end of the year | 28 | 44,965,596 | 23,473,417 |
| Special commission received during the year | 9,513,410 | 10,372,322 | |
| Special commission paid during the year | 1,714,624 | 2,433,950 | |
| Supplemental non-cash information | |||
| Net changes in fair value and transfers to consolidated statement of income | 736,232 | 1,121,971 | |
| ROU assets | 842,940 | 607,637 | |
| ROU lease liabilities | 543,855 | 401,563 |
The accompanying notes 1 to 42 form an integral part of these consolidated financial statements.