28 / 120
25
Annual Report 2015
-25-
MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. AND ITS SUBSIDIARIES
CONSOLIDATED 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 -Note 4)
Consolidated income before income tax
$
30,320,209
$
921,923 $
30,265,724
Adjustments to reconcile consolidated 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
(
543,892 ) (
16,538 )
2,249,430
Depreciation
483,745
14,709
508,590
Amortization
3,922
120
2,331
Interest income
(
53,879,273 ) (
1,638,265 ) (
53,449,800 )
Dividend income
(
1,133,014 ) (
34,451 ) (
1,016,306 )
Interest expense
17,833,323
542,244
18,153,235
Investment income recognised under the equity method
(
182,543 ) (
5,550 ) (
144,359 )
Proceeds from disposal of investments under the equity method
(
3,346 ) (
102 )
-
Gain on disposal of property and equipment
(
2,893 ) (
88 ) (
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
541
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
10,792,527
(Increase) decrease in financial assets at fair value through profit or loss
(
3,331,337 ) (
101,293 )
783,993
Decrease (increase) in receivables
28,148,653
855,894 (
11,497,005 )
Increase in bills discounted and loans
(
39,272,959 ) (
1,194,143 ) (
80,774,453 )
Increase in available-for-sale financial assets
(
46,876,359 ) (
1,425,333 ) (
1,439,555 )
(Increase) decrease in held-to-maturity financial assets
(
37,733,500 ) (
1,147,333 )
20,944,316
Decrease (increase) in other financial assets
3,654,019
111,105 (
608,763 )
(Increase) decrease in other assets
(
362,941 ) (
11,036 )
2,098,902
Decrease in due to the Central Bank and commercial banks
(
41,819,873 ) (
1,271,585 ) (
10,180,018 )
(Decrease) increase in financial liabilities at fair value through profit or loss
(
5,406,063 ) (
164,378 )
13,478,306
(Decrease) increase in securities sold under repurchase agreements
(
49,641,864 ) (
1,509,422 )
3,657,554
Increase (decrease) in payables
182,392
5,546 (
1,700,111 )
Increase in deposits and remittances
196,579,800
5,977,250
101,504,396
(Decrease) increase in other financial liabilities
(
347,823 ) (
10,576 )
572,637
Increase (decrease) in reserve for employee benefit liabilities
35,434
1,077 (
51,604 )
(Decrease) increase in other liabilities
(
181,245 ) (
5,511 )
2,099,784
Decrease in deposits received
(
390,057 ) (
11,860 ) (
223,468 )
Interest received
53,894,582
1,638,731
53,000,327
Dividend received
1,305,595
39,698
1,152,252
Interest paid
(
18,016,892 ) (
547,826 ) (
17,912,701 )
Income tax paid
(
4,185,850 ) (
127,276 ) (
4,440,992 )
Net cash provided by operating activities
47,129,773
1,433,038
77,998,788
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
2,893
88
1,315
Acquisitions of property and equipment
(
387,520 ) (
11,783 ) (
315,243 )
Proceeds from disposal of foreclosed properties
-
-
65,885
Net cash used in investing activities
(
414,826 ) (
12,613 ) (
191,576 )
CASH FLOWS FROM FINANCING ACTIVITIES
(Decrease) increase in borrowed funds
(
8,447,446 ) (
256,855 )
21,576,296
(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
(
9,450,946 ) (
287,368 )
16,711,296
EFFECT OF EXCHANGE RATE CHANGES
(
221,252 ) (
6,727 )
1,423,817
NET INCREASE IN CASH AND CASH EQUIVALENTS
37,042,749
1,126,330
95,942,325
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
404,967,386
12,313,530
309,025,061
CASH AND CASH EQUIVALENTS, END OF YEAR
$
442,010,135
$ 13,439,860 $
404,967,386
CASH AND CASH EQUIVALENTS COMPOSITION:
Cash and cash equivalents shown in consolidated balance sheet
$
145,026,871
$
4,409,720 $
164,407,531
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"
287,547,395
8,743,231
234,709,523
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
$
442,010,135
$ 13,439,860 $
404,967,386
The accompanying notes are an integral part of these financial statements.