Cash Flow Statement

for the period ended 31 December 2009

		The Group		The Bank
	Note	9 months to 31 Dec 2009 N'million	12 months to 31 Mar 2009 N'million	9 months to 31 Dec 2009 N'million	12 months to 31 Mar 2009 N'million
Operating activities
Cash generated from operations	36	(247,764)	240,276	(261,090)	220,353
Tax paid	8	(3,064)	(5,975)	(1,318)	(3,223)
Net cash (used in)/from operating activities		(250,828)	234,301	(262,408)	217,130
Financing activities
Dividend paid to shareholders (note 32)		(33,565)	(23,867)	(33,565)	(23,867)
Net cash used in financing activities		(33,565)	(23,867)	(33,565)	(23,867)
Investing activities
Purchase of investment securities (note 15)		(24,608)	(15,313)	(20,685)	(5,234)
Proceed from sale of investments – quoted		3,803	13,866	3,803	13,830
Dividend received – subsidiaries and others		1,316	1,007	1,876	3,083
Redemption of dated securities		1,500	(1,500)	1,500	(1,848)
Redemption/(purchase) of investment securities		-	-	-	-
Additional investment in subsidiaries		1,510	-	(1,990)	-
Additional investment in associates		(364)	(2,063)	-	(2,150)
Additional to investment property		(533)	(4,124)	-
Purchase of property, plant and equipment	22	(14,164)	(16,315)	(13,505)	(15,329)
Proceeds from sale of property and equipment		273	1,087	244	1,056
Net cash (used in) investing activities		(31,267)	(23,355)	(28,757)	(6,592)
(Decrease)/increase in cash and cash equivalents		(315,660)	187,079	(324,730)	186,671
Analysis of changes in cash and cash equivalents
At start of the period		(906,694)	(719,615)	(653,208)	(466,537)
At end of the period	38	591,034	906,694	328,478	653,208
(Decrease)/increase in cash and cash equivalents		(315,660)	187,079	(324,730)	186,671