Statement of Cash Flows
For the year ended 31st December 2003
		2003		2002
In thousands of Leones	Notes
Operating Activities
Interest Received	1	10,998,040		7,933,795
Interest Paid	1	(1,639,440)		(1,399,073)
Loan Recovery	8	506,912		133,424
Fees and Commission Received	2	3,208,078		4,059,029
Administrative Expenses Paid	6	(6,959,391)		(6,529,320)
Operating Expenses Paid	7	(5,204,768)		(3,294,233)
Other Operating Income	3.5	4,722,255		5,618,814
Depreciation of Property & Equipment	13	1,954,931		1,690,777
		7,586,617		8,213,213
Changes in Operating Assets &
Liabilities
Loans & Advances to Customers		(11,287,158)		(3,353,250)
Deposits from Customers		1,070,786		25,604,726
Other Assets		(2,238,473)		6,290,056
Other Liabilities		(2,859,779)		3,285,884
Net Cash Flow from Operating Activities before tax		(7,728,007)		40,040,629
Income Tax Paid	9	(1,211,205)		1,494,306
Cash from Operating Activities		(8,939,212)		38,546,323
Investing Activities
Proceeds from sale of Fixed Assets		20,674		501,312
Proceeds (acquisition) of investments		3,398,680		(19,739,531)
Acquisition of Property & Equipment	13	(3,778,360)		(4,777,167)
Cash Flow from Investing Activities		(359,006)		(24,015,386)
Financing Activities
Dividend Paid		(2,243,648)		1,200,000
Cash Flow from Financing Activities		(2,243,648)		1,200,000
Net Increase/Decrease in cash and cash equivalent		(11,541,866)		13,330,937
Cash & cash equivalents at  1 January		32,314,484		18,983,547
Cash & cash equivalents at 31 December		20,772,618		32,314,484
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