Page 30 - Agib Bank Ltd Annual Report and IFRS Financial statements 2020

Statement of cash flows

for the year ended 31 December 2020
(in thousands of Gambian Dalasi)

Notes 2020 2019

Cash flows from operating activities
Profit for the year before tax 59,114 16,017
Adjustment for
Opening balance difference - (62,954)
Depreciation right of use 26 4,204 4,101
Depreciation and amortisation 24,25 26,112 29,963

89,430 (12,873)

Changes in Islamic financing and related assets 19 (338,547) (103,427)
Change in other assets 28 (670) 7,538
Changes in other receivables (109,805) -
Change in other liabilities 30 (65,690) (76,966)
Change in deposits from customers 29 873,266 337,780
Change in Lease Liability 27 (3,617) 14,761
Lease payment 27 - (4,456)

Income tax paid (3,988) (15,135)
Changes in restricted funds (71,054) 1,432
Net cash used from operating activities 369,325 148,654

Cash flows from investing activities
Purchase of investment securities 20 128,143 123,602

Purchase of investment properties (10,043) -
Purchase of property and equipment 24 (8,001) (37,000)
Transfer from property and equipment 24 3,094
Right of Use Asset
- (13,927)
Purchase of intangible assets 25 (4,918) (6,295)

Net cash used in investing activities 108,275 66,380

Cash flows from financing activities

Dividends paid 31 (10,918) (19,805)

Net cash from financing activities (10,918) (19,805)

Net (decrease)/increase in cash and cash equivalents 466,682 195,229 195,229
Cash and cash equivalents at 1 January 304,015 108,786
Effect of exchange rate fluctuations on cash held
Cash and cash equivalents at 31 December (note 18) 770,697 304,015

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

ANNUAL REPORT AND FINANCIAL STATEMENTS 2019 Page | 14
Annual Report and IFRS Financial Statements for the year ended 31 December 2020 29