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Market Analysis
Our Goals for 2002
Organization Chart
STATEMENTS OF CASH FLOWS
For the Years Ended December 31, 2001 and 2000
(In Thousands of New Taiwan Dollars)
2001 2000
CASH FLOWS FROM OPERATING ACTIVITIES $ 2,155,922 $ 1,856,050
Adjustments to reconcile net income to net cash provided by operating activities:
Provisions for losses 2,816,952 1,651,210
Depreciation and amortization 230,520 236,910
Provision (reversal of allowance) for losses on securities purchased (372,818) 434,703
Equity in net loss of investee companies - net 3,684 264
Gain on disposal of property and equipment - net 8,709 (8,332)
Deferred income taxes (142,278) 20,499
Changes in operating assets and liabilities:
Decrease(increase) in securities purchased - for trading purpose 564,749 (1,468,923)
Increase in recivables 421,004 (1,106,079)
Decrease (increase) in prepaid expenses 72,324 (27,166)
Increase in payables (3,688,162) 501,598
increase (decrease) in advances received (57,008) 44,009
Net Cash Provided by Operating Activities 2,013,598 2,134,743
CASH FLOWS FROM INVESTING ACTIVITIES
Decrease(increase) in:
Due from banks 1,653,800 (6,460,091)
Due from Central Bank (2,432,968) (357,703)
Securities purchased - for investing purposes 128,639 (2,545,891)
Loans, discounts and bills purchased (4,057,780) (15,442,565)
Long-term equity investments (70,700) -
Acquisitions of property and equipment (246,309) (155,107)
Other assets (61,730) 105,152
Proceeds from sale of property and equipment - 28,638
Net Cash Used in Investing Activities (885,976) 22,094,123
CASH FLOWS FROM FINANCING ACTIVIIES
Increase (decrease) in due to banks ($ 5,616,952) $ 4,591,990
Increase in deposits and remittances 6,173,952 18,942,144
Cash dividents (693,367) -
Remuneration paid to driectors and employees (76,112) (168,791)
Net Cash Provided by (Used in) Financing Activities (885,976) 22,094,123
EFFECTOF CHANGE INEXCHANGE RATE 4,680 5,099
NET DECREASE IN CASH (3,954,746) (593,602)
CASH, BEGINNING OF YEAR 9,119,995 9,713,597
CASH, END OF YEAR $ 5,165,249 $ 9, 119,995
SUPPLENENT AL INFORMATION
Interest paid $ 11,149,517 $ 11,679,836
Income tax paid $591,988 $ 548,690
The accompanying notes are an integral part of the financial statements.