Consolidated statement of cash flow
in CHF 1,000 | Note | 2016 | 2015 |
|---|---|---|---|
Cash flow from operating activities |
|
|
|
Group net income |
| 57,986 | 64,056 |
Reconciliation to cash flow from operating activities |
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|
Non-cash-related positions in Group results |
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|
|
• Depreciation and amortisation | 22,411 | 38,253 | |
• Creation of retirement pension provisions | 18,863 | 10,649 | |
• Creation/dissolution of other provisions | –4,483 | 15,765 | |
• Non-cash-related income from capitalisation of assets | 0 | –34,045 | |
• Unrealised gains on assets held for trading | 0 | 73 | |
• Unrealised gains on financial instruments measured at fair value | –1,780 | –5,780 | |
• Unrealised gains on financial instruments measured at amortised cost | –63 | 3,123 | |
• Deferred income taxes | –5,764 | –5,127 | |
Net increase/reduction in banking |
|
|
|
• Amounts due from/to banks |
| 1,717,763 | 1,349,694 |
• Trading portfolios incl. replacement values, net |
| –2,726 | 23,061 |
• Amounts due from/to clients |
| –967,325 | –683,536 |
• Accrued receivables and other assets |
| –2,843 | –8,157 |
• Accruals and other liabilities |
| 2,655 | –788 |
Income taxes paid | –4,190 | –1,403 | |
Foreign-currency impact on intragroup payments |
| 2,088 | –4,675 |
Net cash flow from operating activities |
| 832,592 | 761,163 |
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|
|
Cash flow from investment activities |
|
|
|
Purchase of financial instruments measured at fair value | –8,555 | –28,948 | |
Proceeds from sale of/maturing financial instruments measured at fair value | 122,225 | 179,624 | |
Purchase of financial instruments measurement at amortised cost | –427,665 | –759,053 | |
Proceeds from sale of/maturing financial instruments measured at amortised cost | 275,472 | 209,555 | |
Acquisition of property and equipment and intangible assets | –9,727 | –10,555 | |
Sale of property and equipment and intangible assets | 15,000 | 0 | |
Acquisition of subsidiary companies | 0 | 348,387 | |
Disposal of subsidiary companies | 0 | 0 | |
Net cash flow from investment activities |
| –33,250 | –60,990 |
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|
Cash flow from financing activities |
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|
Purchase of treasury shares | –8,022 | –51,093 | |
Proceeds from sale of treasury shares |
| 512 | 4,390 |
Dividend distributions | –24,297 | –19,811 | |
Redemption/issuance of medium-term bonds | 4,337 | 13,733 | |
Issuance of debentures1 | 0 | 200,000 | |
Redemption of debentures1 | –149,280 | –49,000 | |
Net cash flow from financing activities |
| –176,750 | 98,219 |
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|
Foreign-currency translation impact |
| 6,547 | 2,982 |
Net increase/reduction in cash and cash equivalents |
| 629,139 | 801,374 |
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|
|
|
Cash and cash equivalents at the beginning of the financial year | 3,415,841 | 2,614,467 | |
Cash and cash equivalents at the end of the financial year | 4,044,980 | 3,415,841 | |
Net increase/reduction in cash and cash equivalents |
| 629,139 | 801,374 |
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in CHF 1,000 | Note | 2016 | 2015 |
Cash and cash equivalents are represented by |
|
|
|
Cash | 3,524,512 | 2,955,527 | |
Receivables arising from money market paper | 15,248 | 14,652 | |
Due from banks – at-sight balances | 505,220 | 445,662 | |
Total cash and cash equivalents |
| 4,044,980 | 3,415,841 |
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|
Consolidated statement of cash flow (summarised) |
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|
|
Cash and cash equivalents at beginning of accounting period |
| 3,415,841 | 2,614,467 |
Cash flow from operating activities, net of taxes |
| 832,592 | 761,163 |
Cash flow from investing activities |
| –33,250 | –60,990 |
Cash flow from financing activities |
| –176,750 | 98,219 |
Foreign-currency translation impact |
| 6,547 | 2,982 |
Cash and cash equivalents at end of accounting period |
| 4,044,980 | 3,415,841 |
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|
Cash flow from operating activities from interest and dividends |
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|
Interest paid |
| –9,216 | –11,375 |
Interest received |
| 109,061 | 104,386 |
Dividends received |
| 3,336 | 3,993 |
- Issuance and redemption of debentures are stated separatelly. The prior-year comperative figures were restated.
Demand deposits due to banks are invested or charged interest at daily rates or in short-term funds between one day and three months, depending on the VP Bank Group's liquidity needs. Interest rates are based on the corresponding market rates. Receivables arising from money-market papers have a maximum initial maturity of three months. The fair value of cash and cash equivalents amounts to CHF 4,045.0 million (previous year: CHF 3,415.8 million).