For the six months ended 31 March 2007
| Six months ended 31 March 2007 |
Six months ended 31 March 2006 |
Year ended 30 September 2006 |
|||
|---|---|---|---|---|---|
| €m | €m | €m | |||
| Cash flows from operating activities | |||||
| Profit before taxation | 574 | 375 | 850 | ||
| Interest earned on financial assets held on own account | (140) | (68) | (177) | ||
| Financing costs of subordinated liabilities and other capital instruments | 111 | 89 | 174 | ||
| Profit on disposal of Isle of Man trust business | (22) | - | - | ||
| Share of results of joint ventures | (3) | (4) | (4) | ||
| Other non-cash items | 39 | 53 | 146 | ||
| Tax paid | (29) | (32) | (163) | ||
| 530 | 413 | 826 | |||
| Changes in operating assets and liabilities | |||||
| Net increase in deposits | 13,192 | 8,868 | 20,052 | ||
| Net increase in loans and advances to customers | (8,740) | (6,596) | (15,422) | ||
| Net (increase)/decrease in loans and advances to banks | (190) | (61) | 17 | ||
| Net increase in assets held in respect of liabilities to customers under investment contracts | (629) | (310) | (772) | ||
| Net increase in investment contract liabilities | 408 | 197 | 479 | ||
| Net decrease/(increase) in trading portfolio financial assets | 77 | (624) | (439) | ||
| Net movement in derivative financial instruments | (19) | 19 | (22) | ||
| Net decrease/(increase) in other assets | 520 | 23 | (255) | ||
| Net (decrease)/increase in other liabilities | (5) | (18) | 8 | ||
| Exchange movements | 137 | 49 | 72 | ||
| Net cash flows from operating activities | 5,281 | 1,960 | 4,544 | ||
| Cash flows from investing activities | |||||
| Purchases of financial assets | (5,899) | (1,637) | (2,538) | ||
| Sales and maturities of financial assets | 1,102 | 1,673 | 2,340 | ||
| Interest received on financial assets net of associated hedges | 89 | 67 | 169 | ||
| Disposal of Isle of Man trust business | 44 | - | - | ||
| Purchases of property, plant and equipment | (5) | (2) | (8) | ||
| Disposals of property, plant and equipment | - | - | 1 | ||
| Additions to intangible assets - software | (3) | (5) | (12) | ||
| Investments in joint venture interests | (47) | (1) | (51) | ||
| Distributions received from joint venture interests | 2 | - | 11 | ||
| Net cash used in investing activities | (4,717) | 95 | (88) | ||
| Cash flows from financing acitivities | |||||
| Proceeds of equity share issues | 542 | 421 | 431 | ||
| Proceeds from issues of subordinated liabilities and other capital instruments | - | 429 | 1,552 | ||
| Redemptions of subordinated liabilities and other capital instruments | (99) | (81) | (260) | ||
| Coupons paid on subordinated liabilities and other capital instruments | (79) | (53) | (155) | ||
| Equity dividends paid | (45) | (39) | (74) | ||
| Purchases of own shares | (4) | (6) | (35) | ||
| Net cash flows from financing activities | 315 | 671 | 1,459 | ||
| Net increase in cash and cash equivalents | 879 | 2,726 | 5,915 | ||
| Opening cash and cash equivalents | 10,800 | 4,926 | 4,926 | ||
| Effect of exchange rate changes on cash and cash equivalents | (100) | (39) | (41) | ||
| Closing cash and cash equivalents | 11,579 | 7,613 | 10,800 |
