Statement of cash flow

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Amounts in NOK millionNotes20162015
Cash flow from operating activities   
Interest, commission and fees received 496547
Interest, commission and fees paid -19-22
Operating expenses paid -33-31
Income taxes paid -63-70
Payment for acquiring loans from the Parent Bank -7 838-6 964
Payment related to instalment loans and credit lines to customers 4 9345 598
Net cash flow from operating activities4 12-2 523-942
    
Cash flow from investing activities   
Received interest, commission and fees related to certificates, bonds and other securities 65
Proceeds from the sale and settlement of certificates, bonds and other securities 11465
Purchases of certificates, bonds and other securities -231-264
Changes in other assets -35
Net cash flow from investing activities4 8 10-114-189
    
Cash flow from financing activities   
Paid interest, commission and fees related to issued bonds -242-258
Net change in loans from credit institutions 17155
Proceeds from covered bond issuance 3 4943 965
Redemption of issued covered bonds -828-2 343
Dividend paid -176-191
Changes in other debt 4-16
Issue of share capital and premium 200100
Net cash flow from financing activities10 152 6231 312
    
Net change in cash and cash equivalents -14181
Cash balance at 01.01 285104
Cash balance at 31.126271285
    
The cash flow statement shows cash payments received and made, and cash equivalents throughout the year. The statement has been prepared according to the direct method. The cash flows are classified as operating activites, investing activites or financing activites. Financial position line items have been adjusted for the impact of foreign exchange rate changes. Cash and cash equivalents are defined as loans to and receivables from credit institutions with no agreed period of notice. Loans and receivables from credit institutions are entirely to Sparebanken Møre.