Page 25 - GTBank Annual Report 2020 eBook
P. 25
Statement of Cashflows
st
For the year ended 31 December 2020
In thousands of Gambian Dalasi Notes Dec.-2020 Dec.-2019
Cash flows from operating activities
Profit for the year 225,877 138,142
Adjustments for:
Depreciation of property, equipment and right of
use assets 21 48,691 57,492
Amortization of intangibles 22 8,474 5,140
Net interest income (469,018) (361,574)
Income tax expense 14 87,316 52,923
Other non-cash items - -
(98,660) (107,877)
Changes in assets and liabilities:
Debt instruments (1,076,614) (716,666)
Loans and advances to customers 97,678 (393,306)
Other assets (550,667) 9,916
Deposits from customers 1,117,468 967,081
Other liabilities 182,898 (121,416)
Lease obligation (3,253) 58,623
Other Borrowed Funds - -
Restricted balances with Central Bank of the
Gambia (86,918) (110,338)
Net changes in assets and liabilities (319,408) (306,106)
Interest received 511,797 414,345
Interest paid (42,779) (52,771)
469,018 361,574
Income tax paid (77,801) (51,833)
Net cash used in cash operating activities (26,850) (104,242)
The accompanying notes are an integral part of these financial statements.
Annual Report 2020
Guaranty Trust Bank Gambia Limited www.gtbankgambia.com 23
