Consolidated statement of cash flows (unaudited)

in CHF thousands

First half
2012

First half
2011

Cash flow from/(used in) operating activities

 

 

Interest received (excluding financial investments)

171'672

182'106

Interest received from financial investments

6'487

7'391

Dividends received from financial investments

303

405

Interest paid

–33'364

–41'585

Fees and commission received

124'154

124'827

Fees and commission paid

–16'782

–17'693

Trading income

14'189

11'689

Other income

4'653

2'380

Payments for personnel, general and administrative expenses

–141'162

–138'618

Other expenses

–70

–7'299

Income tax paid

–2'281

–3'957

Cash flow from operating activities before changes in operating assets and liabilities

127'799

119'646

Net due from/to banks

583'341

59'874

Net due from insurance contracts

49'035

200'756

Trading portfolio and net replacement values

–90

8'050

Loans/due to customers

–80'112

–364'249

Other assets

735

53'767

Liabilities from insurance contracts

19'354

–12'771

Financial liabilities

–76'703

–209'230

Other liabilities

5'791

13'968

Changes in operating assets and liabilities

501'351

–249'835

Net cash flow from/(used in) operating activities

629'150

–130'189

 

 

 

Cash flow from/(used in) investing activities

 

 

Purchase of property and equipment

–13'434

–12'847

Disposal of investment property

3'227

320

Investments in other intangible assets

–995

–11'881

Purchase of financial investments

–229'263

–144'360

Disposal of financial investments

156'733

145'696

Purchase of subsidiaries, net of cash

–3'874

–4'974

Net cash flow from/(used in) investing activities

–87'606

–28'046

 

 

 

Cash flow from/(used in) financing activities

 

 

Purchase of treasury shares

–318

–9'987

Disposal of treasury shares

258

2'343

Dividends paid

–8'526

–96'636

Coupon tax on old reserves

–32'420

0

Allocation to LLB Employer Foundation

0

–2'000

Allocation to the Future Foundation of Liechtensteinische Landesbank AG

0

–3'000

Non-controlling interests

–2'814

–3'022

Issuance of medium-term debt

148'801

234'027

Repayment of medium-term debt

–141'487

–503'542

Net cash flow from/(used in) financing activities

–36'506

–381'817

 

 

 

Effects of foreign currency translation

–165

–1'083

 

 

 

Net increase/(decrease) in cash and cash equivalents

504'873

–541'135

Cash and cash equivalents at beginning of the period

2'289'861

1'874'238

Cash and cash equivalents at end of the period

2'794'734

1'333'103

 

 

 

Cash and cash equivalents comprise:

 

 

Cash and balances with central banks

1'485'162

439'262

Cash from non-current assets held for sale

9

0

Money market instruments (original maturity up to 3 months)

0

169'975

Due from banks (due daily)

1'123'279

723'866

Due from banks (due daily) from non-current assets held for sale

186'284

0

Total cash and cash equivalents

2'794'734

1'333'103

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