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CONSOLIDATED STATEMENTS OF CASH FLOWS - ARS ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flow from operating activities      
Profit before tax $ 18,096,387 $ 4,256,031 $ 3,971,956
Adjustments to obtain cash flows from operating activities: (22,307,043) (35,300,886) (16,789,034)
Depreciation and amortization 4,207,771 2,957,059 2,198,822
Net impairment loss of financial assets 15,752,414 5,897,990 3,888,609
Accrued interest (69,275,805) (50,158,049) (37,347,882)
Exchange rate (25,718,384) (27,441,940) 2,855,872
Inflation effect on cash and cash equivalents balances 56,349,067 33,646,939 12,112,434
Gain on sale of Prisma Medios de Pagos S.A. (3,821,089) 0 0
Put option - Prisma Medios de Pagos S.A. (685,000) 0 0
Other adjustments 883,983 (202,885) (496,889)
Net decreases (increases) due to changes in operating assets: 108,938,183 (6,267,389) (102,889,796)
Financial assets at fair value through profit or loss (FVTPL) 2,647,800 1,333,733 (3,419,633)
Financial assets at amortized cost      
Other financial assets 8,741,811 (3,522,205) (3,806,973)
Loans and advances to financial institutions 7,882,183 (6,372,793) (2,802,686)
Loans and advances to customers 77,998,676 13,057,756 (66,323,533)
Loans and advances to government sector (110) 26 24,572
Reverse repurchase agreements 19,510,749 (5,389,798) (14,130,215)
Financial assets at fair value through other comprehensive income (8,286,739) 434,840 (12,501,176)
Other assets 443,813 (5,808,948) 69,848
Net (decreases) increases due to changes in operating liabilities: (127,869,384) 67,557,501 35,517,033
Financial liabilities at amortized cost      
Deposits from financial institutions (274,034) 82,828 (261,566)
Deposits from customers (103,498,356) 45,719,429 30,009,675
Deposits from government sector 579,718 14,026 (5,044,227)
Repurchase agreements (230,769) (626,212) 265,199
Financial liabilities at FVTPL 508,997 2,661,725 356,619
Other financial liabilities (24,954,940) 19,705,705 10,191,333
Income tax paid (1,598,745) (2,090,169) (2,020,822)
Interest received 109,383,620 80,202,153 54,405,003
Interest paid (46,139,324) (32,817,660) (17,562,664)
Total cash flows generated by/(used in) operating activities 38,503,694 75,539,581 (45,368,324)
Cash flows from investing activities      
Payments: (2,998,195) (3,052,013) (3,836,789)
Purchase of property and equipment, intangible assets and other assets (2,998,195) (2,925,840) (3,836,789)
Loss of control of the subsidiary 0 (126,173) 0
Collections: 3,837,762 1,781,892 719,094
Sale of equity instruments 2,492,169 0 0
Sale of property and equipment, intangible assets and other assets 0 1,008,030 15,743
Cash and cash equivalents – Gain of control over subsidiaries 257,767 0 0
Dividends received 1,087,826 773,862 703,351
Total cash flows generated by / (used in) investing activities 839,567 (1,270,121) (3,117,695)
Cash flows from financing activities      
Payments: (10,195,721) (4,071,470) (5,223,583)
Dividends (3,702,747) (2,010,520) (2,237,938)
Debt security payments - Capital (3,219,779) (837,250) (2,046,303)
Debt security payments - Interest (2,469,755) (1,219,831) (867,990)
BCRA 0 (3,869) (71,352)
Payment of lease liabilities (803,440) 0 0
Collections: 5,286,744 1,619,261 19,001,210
Issuance of own equity instruments 0 0 16,511,145
Non controling interest capital contribution 0 437,481 0
Debt securities issued - Capital 5,285,392 1,181,780 2,490,065
BCRA 1,352 0 0
Total cash flows (used in) / generated by financing activities (4,908,977) (2,452,209) 13,777,627
Effect of exchange rate changes on cash and cash equivalents 25,718,384 27,441,940 (2,855,872)
Inflation effect on cash and cash equivalents balances (56,349,067) (33,646,939) (12,112,434)
Total changes in cash and cash equivalents 3,803,601 65,612,252 (49,676,698)
Cash and cash equivalents at the beginning of the year (Note 8) 152,456,309 86,844,057 136,520,755
Cash and cash equivalents at the end of the year (Note 8) $ 156,259,910 $ 152,456,309 $ 86,844,057