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Annual Report 2015
-105-
MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD.
STATEMENTS OF CASH FLOWS
(EXPRESSED IN THOUSANDS OF DOLLARS)
For the years ended December 31,
2015
2014(adjusted)
NT$
US$
NT$
CASH FLOWS FROM OPERATING ACTIVITIES
(Unaudited)
Income before income tax
$
30,250,304
$
919,798 $
30,194,306
Adjustments to reconcile income before tax to net cash provided by operating activities
Income and expenses having no effect on cash flows
Provision for loan losses and guarantee (reversal) reserve
(
544,711 ) (
16,563 )
2,186,780
Depreciation
473,370
14,393
496,597
Amortization
3,922
120
2,331
Interest income
(
53,192,080 ) (
1,617,370 ) (
52,729,535 )
Dividend income
(
1,133,014 ) (
34,451 ) (
1,016,306 )
Interest expense
17,705,988
538,372
17,995,211
Investment income recognised under the equity method
(
454,892 ) (
13,831 ) (
410,758 )
Proceeds from disposal of investments under the equity method
(
3,346 ) (
102 )
-
Gain on disposal of property and equipment
(
2,861 ) (
87 ) (
1,264 )
Gain on disposal of foreclosed properties
-
- (
42,283 )
Loss on asset impairment
487,652
14,828
217,087
Loss on retirement of property and equipment
511
16
79
Changes in assets/liabilities relating to operating activities
Decrease in due from the Central Bank and call loans to banks
17,511,630
532,463
10,791,889
(Increase) decrease in financial assets at fair value through profit or loss
(
3,353,466 ) (
101,966 )
795,022
Decrease (increase) in receivables
28,356,849
862,225 (
11,536,542 )
Increase in bills discounted and loans
(
42,522,615 ) (
1,292,952 ) (
77,944,818 )
Increase in available-for-sale financial assets
(
46,876,359 ) (
1,425,333 ) (
1,439,555 )
(Increase) decrease in held-to-maturity financial assets
(
36,564,376 ) (
1,111,785 )
20,744,643
Decrease (increase) in other financial assets
3,653,948
111,103 (
608,684 )
(Increase) decrease in other assets
(
360,547 ) (
10,963 )
2,099,251
Decrease in due to the Central Bank and commercial banks
(
41,412,847 ) (
1,259,209 ) (
10,257,958 )
(Decrease) increase in financial liabilities at fair value through profit or loss
(
5,407,864 ) (
164,433 )
13,482,674
(Decrease) increase in securities sold under repurchase agreements
(
49,641,864 ) (
1,509,422 )
3,657,554
Increase (decrease) in payables
157,694
4,795 (
1,691,452 )
Increase in deposits and remittances
197,053,945
5,991,667
100,088,259
(Decrease) increase in other financial liabilities
(
347,823 ) (
10,576 )
572,637
Increase (decrease) in reserve for employee benefit liabilities
35,435
1,077 (
51,605 )
(Decrease) increase in other liabilities
(
182,607 ) (
5,553 )
2,100,675
Decrease in deposits received
(
480,167 ) (
14,600 ) (
227,094 )
Interest received
53,072,471
1,613,734
52,281,626
Dividend received
1,504,562
45,748
1,372,427
Interest paid
(
17,884,610 ) (
543,804 ) (
17,748,192 )
Income tax paid
(
4,109,171 ) (
124,945 ) (
4,374,012 )
Net cash provided by operating activities
45,793,061
1,392,394
78,998,990
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from disposal of investments under the equity method
21,924
667
-
Acquisition of investments accounted for under the equity method
(
150,000 ) (
4,561 )
-
Proceeds from capital reduction of investee accounted for under the equity method
97,877
2,976
56,467
Proceeds from disposal of property and equipment
2,861
87
1,315
Acquisitions of property and equipment
(
360,084 ) (
10,949 ) (
302,203 )
Proceeds from disposal of foreclosed properties
-
-
65,885
Net cash used in investing activities
(
387,422 ) (
11,780 ) (
178,536 )
CASH FLOWS FROM FINANCING ACTIVITIES
(Decrease) increase in borrowed funds
(
8,700,316 ) (
264,544 )
21,307,592
(Decrease) increase in financial bonds payable
(
14,000,000 ) (
425,687 )
6,300,000
Payments of cash dividends and bonus
(
11,088,000 ) (
337,144 ) (
11,165,000 )
Proceeds from issuance of common stock
24,084,500
732,318
-
Net cash (used in) provided by financing activities
(
9,703,816 ) (
295,057 )
16,442,592
EFFECT OF EXCHANGE RATE CHANGES
195,676
5,950
1,147,891
NET INCREASE IN CASH AND CASH EQUIVALENTS
35,897,499
1,091,507
96,410,937
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
402,643,347
12,242,865
306,232,410
CASH AND CASH EQUIVALENTS, END OF YEAR
$
438,540,846
$ 13,334,372 $
402,643,347
CASH AND CASH EQUIVALENTS COMPOSITION:
Cash and cash equivalents shown in balance sheet
$
141,794,023
$
4,311,421 $
161,954,100
Due from the Central Bank and call loans to bank meeting the definition of cash and
cash equivalents as stated in IAS No. 7 "Cash Flow Statements"
287,310,954
8,736,042
234,838,915
Securities purchased under resale agreements meeting the definition of cash and cash
equivalents as stated in IAS No. 7 "Cash Flow Statements"
9,435,869
286,909
5,850,332
CASH AND CASH EQUIVALENTS, END OF YEAR
$
438,540,846
$ 13,334,372 $
402,643,347