Statement of cash flow

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(NOK million)Note20202019
Cash flow from operating activities   
Interest, commission and fees received14 687758
Interest, commission and fees paid14 -34-9
Operating expenses paid16 -49-45
Income taxes paid -9-22
Payment for acquiring loans from the Parent Bank -10 933-9 088
Payment related to installment loans and credit lines to customers 7 5456 854
Net cash flow from operating activities -2 793-1 552
    
Cash flow from investing activities   
Received interest, commission and fees related to certificates, bonds and other securities14 47
Proceeds from the sale and settlement of certificates, bonds and other securities 1 0431 746
Purchases of certificates, bonds and other securities -483-1 911
Changes in other assets 4-3
Net cash flow from investing activities 568-161
    
Cash flow from financing activities   
Paid interest, commission and fees related to issued bonds14 -313-435
Net change in loans from credit institutions 2 464965
Proceeds from issued covered bonds22 3 8215 536
Redemption of issued covered bonds22 -3 474-4 784
Dividend paid24 -224-167
Changes in other debt 28-27
Issued share capital and premium24 0450
Net cash flow from financing activities 2 3021 538
    
Net change in cash and cash equivalents 77-175
Cash balance at 01.01 8271 002
Cash balance at 31.12 1)13 904827
    
1) NOK 546 million out of total NOK 1,450 million in Loans to and receivables from credit institutions is the margin call balance on financial derivatives paid in by counterparties according to CSA, and thus should not be included as cash balance at 31.12.2020.

The cash flow analysis is prepared on basis of the direct method with cash flows attributable to operational, investment and financing activities. Cash flows from operational activities are net receipts and payments from lending activities and other payments generated from operational activities. Cash flows from investing activities are purchases or sales of bonds and other securities. Cash flows from other securities transactions, issuance and repayments of issued securities and equity are defined as financing activities.

Balance sheet items are currency translated.

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 mainly related to Sparebanken Møre.