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CONSOLIDATED
CASH FLOW STATEMENT |
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FOR THE YEAR
ENDED DECEMBER 31, 2009 |
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2009 |
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2008 |
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Note |
-------(Rupees)------- |
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CASH FLOWS FROM OPERATING ACTIVITIES |
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(Loss)/ profit before taxation |
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|
(255,149,320) |
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3,904,353,910 |
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Mark-up/return/interest earned |
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|
(2,315,589,720) |
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(3,764,242,109) |
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(2,570,739,040) |
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140,111,801 |
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Adjustments for non-cash items |
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Mark-up/return/interest expensed |
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2,065,916,450 |
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3,339,286,938 |
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Depreciation |
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166,164,304 |
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206,479,114 |
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Provision against non-performing loans and
advances |
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304,629,834 |
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836,431,171 |
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Provision for diminution in the value of
investments |
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367,508,960 |
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34,118,441 |
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Provision against lendings to financial
institutions |
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23,500,000 |
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- |
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Bad debts written off directly |
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5,478,785 |
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5,700,775 |
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Net gain on sale of subsidiary |
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- |
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(6,411,219,317) |
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Exchange gain |
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(490,000) |
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(566,254,850) |
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Impairment loss on quoted securities |
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276,400,826 |
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1,917,024,938 |
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Unrealized loss on investments classified as
held-for-trading |
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3,569,223 |
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1,843,015 |
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Provision for gratuity |
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6,516,370 |
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5,254,191 |
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Amortization of goodwill |
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- |
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69,660,445 |
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Gain on disposal of operating fixed assets |
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(12,557,162) |
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(5,104,503) |
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3,206,637,590 |
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(566,779,642) |
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635,898,550 |
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(426,667,841) |
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Decrease/(Increase) in operating assets |
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Lendings to financial institutions |
####### |
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(1,035,072,818) |
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880,000,000 |
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Advances |
####### |
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2,207,789,226 |
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(128,954,901) |
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Investment property |
####### |
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(255,432,737) |
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(1,598,495,060) |
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Other assets |
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218,967,036 |
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1,952,803,471 |
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1,136,250,707 |
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1,105,353,510 |
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(Decrease)/Increase in operating liabilities |
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Borrowings |
####### |
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(2,931,265,028) |
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1,290,975,278 |
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Bills payable |
####### |
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- |
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- |
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Liabilities against assets subject to finance
lease |
####### |
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- |
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(1,210,259) |
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Deposits and other accounts |
####### |
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37,223,039 |
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(3,454,425,499) |
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Other liabilities |
####### |
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(31,987,931) |
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(62,361,485) |
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Underwriting provision |
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(101,438,672) |
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18,947,581 |
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Deferred liabilities |
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(24,450,455) |
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(108,189,616) |
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(3,051,919,047) |
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(2,316,264,000) |
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CASH FLOW AFTER WORKING CAPITAL CHANGES |
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(1,279,769,790) |
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(1,637,578,331) |
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Mark-up/return/interest received |
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2,390,721,081 |
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4,527,466,524 |
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Mark-up/return/interest paid |
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(2,004,130,728) |
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(4,118,408,991) |
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Gratuity paid |
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(2,486,350) |
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(1,553,270) |
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Income tax paid |
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(155,558,672) |
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(81,208,931) |
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228,545,331 |
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326,295,332 |
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Net cash used in operating activities |
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(1,051,224,459) |
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(1,311,282,999) |
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CASH FLOW FROM INVESTING ACTIVITIES |
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Net investment in available for sale securities |
-1.2E+10 |
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1,390,158,286 |
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(3,636,712,081) |
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Net investment in held to maturity securities |
-6.1E+09 |
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(275,233,587) |
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(579,000,218) |
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Net investment in held for trading securities |
-9720000 |
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(88,730,003) |
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138,922,052 |
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Net proceeds from sale of subsidiary |
3.35E+09 |
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- |
|
6,613,743,866 |
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Investment in operating fixed assets |
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(45,778,641) |
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(232,974,940) |
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Dividend received |
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84,715,084 |
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129,800,111 |
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Sale proceeds from sale of operating fixed
assets |
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151,247,133 |
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28,619,039 |
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Net cash flow from investing activities |
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1,216,378,272 |
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2,462,397,829 |
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CASH FLOW FROM FINANCING ACTIVITIES |
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Cash received against right issue |
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|
1,000,000,000 |
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1,000,000,000 |
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Dividend paid |
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- |
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(6,000,000,000) |
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Net cash from/ (used in) financing activities |
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1,000,000,000 |
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(5,000,000,000) |
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Net increase/ (decrease) in cash and cash
equivalents |
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1,165,153,813 |
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(3,848,885,170) |
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Cash and cash equivalents at beginning of the
year |
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|
1,475,184,766 |
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5,324,069,936 |
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Cash and cash equivalents at end of the year |
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32 |
2,640,338,579 |
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1,475,184,766 |
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The annexed notes 1 to 43 form an integral part
of these consolidated financial statements. |
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| CHIEF
EXECUTIVE DIRECTOR |
|
|
DIRECTOR |
|
CHAIRMAN |
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