CONSOLIDATED
STATEMENT OF CASHFLOW

FOR THE YEAR ENDED 31 DECEMBER
  Notes 2010
Rm		 2009
Rm
 
Cash generated by operations 49.1 15 288 14 915
   Cash received from clients 49.2 57 327 62 380
   Cash paid to clients, employees and suppliers 49.3 (43 093) (48 220)
   Dividends received on investments   254 50
   Recoveries on loans previously written off   763 457
   Effects of exchange rate changes on opening cash and cash   equivalents (excluding foreign borrowings)   37 248
Change in funds for operating activities   (12 891) (14 603)
   Increase in operating assets 49.4 (42 172) (6 009)
   Increase/(Decrease) in operating liabilities 49.5 29 281 (8 594)
       
Net cash from operating activities before taxation   2 397 312
Taxation paid 49.6 (2 093) (2 318)
Cashflows from/(utilised by) operating activities   304 (2 006)
Cashflows utilised by investing activities   (4 438) (3 171)
   Acquisition of property and equipment, computer software and   development  costs and investment property   (2 004) (2 568)
   Disposal of property and equipment, computer software and   development costs and investment property   372 278
   Disposal of investment banking assets   11 14
   Acquisition of associate companies   (149) (84)
   Disposal of associate companies   138 151
   Acquisition of other investments   (2 415) (3 311)
   Disposal of other investments   1 462 2 301
   Acquisition of investments in subsidiary companies net of cash 49.7 (1 853) 48
Cashflows from financing activities   5 504 4 878
   Net proceeds from issue of ordinary shares   1 807 1 458
   Issue of long-term debt instruments   6 513 6 193
   Redemption of long-term debt instruments   (493) (170)
   Dividends paid to ordinary shareholders 49.8 (2 042) (2 253)
   Preference share dividends paid   (281) (350)
       
Net increase/(decrease) in cash and cash equivalents   1 370 (299)
Cash and cash equivalents at the beginning of the year*   18 375 18 674
       
Cash and cash equivalents at the end of the year* 21 19 745 18 375
*Including mandatory reserve deposits with central banks.