Consolidated Cash Flow Statement

Indirect method (in thousands of Euro)31.12.201631.12.2015
A. OPERATING ACTIVITIES  
1. Operations 197,181 408,513
- profit(loss) for the year (+/-)687,945161,966
- profit/loss on financial assets held for trading and on 
 financial assets/liabilities at fair value (-/+)818-
- profit/loss on hedging activities--
- net impairment losses/reversal on loans (+/-)59,47734,250
- net imp, losses/reversal on property. plant. and equipment and intangible assets (+/-)6,0553,746
- net allocations to provisions for risks and charges and other expenses/income (+/-)22,232248
- unpaid taxes (+)32,54183,623
- other adjustments (+/-)(611,887)124,680
2. Cash generated from/used in financial assets1,570,097  1,204,350
-          Financial assets held for trading2,330(259)
-          financial assets at fair value--
-          available for sale financial assets2,888,6911,724,190
-          due from banks on demand(37,401)30,656
-          other due from banks(1,019,712)148,835
-          loans to customers(163,170)(648,079)
-          other assets(100,641)(50,993)
3. Cash generated from/used in financial liabilities (1,592,051)(1,574,779)
-          due to banks on demand60,94525,146
-          other due to banks(2,059,231)(1,621,128)
-          due to customers(978,006)3,957
-          outstanding securities1,404,408-
-          financial liabilities held for trading(2,459)21
-          financial liabilities at fair value--
-          other liabilities(17,708)17,225
Net cash generated from/used in operating activities A (+/-)175,22738,084
B. INVESTING ACTIVITIES  
1. Cash generated from:158 93
-          sale of investments--
-          dividends collected on investments--
-          sale of held to maturity financial assets- 
-          sale of property. plant and equipment15893
-          sale of intangible assets--
-          sale of business branches--
2. Cash used in: (143,892)(5,970)
-          purchase of investments(119,202)-
-          purchase of held to maturity financial assets-
-          purchase of property. plant and equipment(14,421)(3,261)
-          purchase of intangible assets(10,269)(2,709)
-          purchase of business branches--
Net cash generated from/used in investing activities B (+/-)(143,734)(5,877)
C. FINANCING ACTIVITIES  
-          issue/buyback of treasury shares8,6812,697
-          issue/buyback of equity instruments167125
-          distribution of dividends and other(40,341)(35,019)
Net cash generated from/used in financing activities C (+/-)(31,493)(32,197)
NET CASH FLOWS GENERATED /ABSORBED DURING THE YEAR D=A+/-B+/-C-10
   
RECONCILIATION  
OPENING CASH AND CASH EQUIVALENTS E34 24
NET CASH FLOWS GENERATED /ABSORBED DURING THE YEAR D-10
CASH AND CASH EQUIVALENTS: EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES F -
CLOSING CASH AND CASH EQUIVALENTS G=E+/-D+/-F34 34