Page 26 - GTBank Annual Report 2020 eBook

Statement of Cashflows Cont.

st
For the year ended 31 December 2020

Cash flows from investing activities

Purchase of right-of-use assets (306) -
Purchase of property and equipment (21,150) (70,736)

Proceeds from the sale of property and equipment - -
Purchase of intangible assets (10,127) (6,151)

Net cash used in investing activities (31,583) (76,887)

Cash flows from financing activities

Dividends paid to owners (77,855) (48,000)
Repayment of principal portion of lease liabilities - (50,296)

Net cash provided by financing activities (77,855) (98,296)

Net decrease in cash and cash equivalents (136,289) (279,426)

Cash and cash equivalents at beginning of year 990,917 1,270,342
Effect of exchange rate fluctuations on cash held - -

Cash and cash equivalents at end of year 854,629 990,917

The accompanying notes on are an integral part of these financial statements.

Annual Report 2020
Guaranty Trust Bank Gambia Limited www.gtbankgambia.com 24