Consolidated statement of cash flows

(XLS:)

in CHF thousands

2011

2010

Cash flow from/(used in) operating activities

 

 

Interest received (excluding financial investments)

292'742

300'770

Interest received from financial investments

12'496

12'753

Dividends received from financial investments

624

549

Interest paid

–111'632

–126'626

Fees and commission received

246'429

269'843

Fees and commission paid

–35'102

–50'357

Net trading income

27'320

29'917

Other income

5'966

7'653

Payments for personnel, general and administrative expenses

–276'080

–272'895

Other expenses

–669

–399

Income tax paid

–28'890

–35'701

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

133'204

135'507

Net due from/to banks

439'529

1'087'142

Net due from insurance contracts

1'651'810

501'475

Trading portfolio and net replacement values

16'716

1'185

Net due from/to customers

290'134

–259'207

Other assets

59'291

13'833

Liabilities from insurance contracts

–49'468

–33'363

Financial liabilities

–1'603'287

–541'121

Other liabilities

2'081

–4'946

Changes in operating assets and liabilities

806'806

764'998

Net cash flow from/(used in) operating activities

940'010

900'505

 

 

 

Cash flow from/(used in) investing activities

 

 

Purchase of property and equipment

–25'073

–25'941

Proceeds from sale of property and equipment

0

4'765

Proceeds from sale of investment property

555

430

Purchase of other intangible assets

–13'340

–32'667

Purchase of financial investments

–271'233

–259'344

Proceeds from sale and redemption of financial investments

265'091

274'129

Acquisition of associates

–25

0

Purchase from the sale of associates

5'300

0

Increase in shares of Group companies

–4'974

–3'603

Net cash flow from/(used in) investing activities

–43'699

–42'231

 

 

 

Cash flow from/(used in) financing activities

 

 

Purchase of treasury shares

–10'615

–2'895

Disposal of treasury shares

2'802

3'947

Dividends paid

–96'636

–96'900

Allocation to LLB Employer Foundation, LLB Future Foundation

–5'000

–2'000

Non-controlling interests

–2'848

–3'938

Issuance of debt

397'920

167'372

Repayment of debt

–765'389

–550'852

Net cash flow from/(used in) financing activities

–479'766

–485'266

 

 

 

Effects of foreign currency translation

–922

–3'040

 

 

 

Net increase/(decrease) in cash and cash equivalents

415'623

369'968

Cash and cash equivalents at beginning of the year

1'874'238

1'504'270

Cash and cash equivalents at end of the year

2'289'861

1'874'238

 

 

 

Cash and cash equivalents comprise:

 

 

Cash and balances with central banks

896'749

572'706

Cash from non-current assets held for sale

12

0

Money market instruments (original maturity up to 3 months)

0

286'931

Due from banks (due daily)

1'374'922

1'014'601

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

18'178

0

Total cash and cash equivalents

2'289'861

1'874'238

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