Condensed consolidated statement of cash flows

	Notes	June 30, 2023	June 30, 2022

Operational activities
Net profit/(loss)		44,201	102,012

Adjustment for non-cash items:
- Result of associates		-32,102	15,357
- Unrealised (gains) losses arising from changes in fair value¹		21,547	-16,189
- Unrealised (gains) losses arising from changes in foreign exchange rates		-4,257	-222,489
- Unrealised (gains) losses arising from other changes²		-15,006	-4,865
- Amortization of premiums/discounts debentures and notes		3,962	-3,926
- Impairments		34,092	114,642
- Depreciation and impairment of PP&E assets		4,855	5,749
- Income tax expense		711	-7,069

Changes in:
- Income taxes payable / receivable		-11,064	-36,929
- Loans		-27,400	127,391
- Equity investments		-31,216	-59,794
- Other assets and liabilities³		33,549	1,823
- Short-term deposits > 3 months³		-312,889	-330,592
- Short-term credits³		14,940	-105,895
Net cash flow from operational activities		-276,077	-420,774

Investment activities
Purchase of interest-bearing securities		-93,846	-96,358
Redemption/sale of interest-bearing securities		74,624	36,896
Investments in PP&E and intangible fixed assets		-5,102	-1,358
Disinvestments in PP&E and intangible fixed assets		1,077	1,258
Investments in Associates		-2,058	-7,363
Divestments in Associates		6,657	-
Net cash flow from investment activities		-18,648	-66,925

Financing activities
Proceeds from issuance of debt securities, debentures and notes	(7)	817,284	687,382
Redemption of debt securities, debentures and notes	(7)	-648,631	-568,470
Lease payments		-1,704	-1,687
Dividend paid		-	-12,831
Net cash flow from financing activities		166,949	104,394
Net cash flow		-127,776	-383,305

Cash and cash equivalents
Banks and short term deposits at January 1		1,374,780	1,395,141
Net foreign exchange difference		-26,434	103,180
Total cash flow		-127,776	-383,305
Banks and short term deposits at June 30		1,220,570	1,115,016

Operational cash flows from interest and dividends
Interest received		228,329	131,962
Interest paid		-137,179	-23,380
Dividend received		11,443	31,998
Interest paid for lease liabilities		-66	-73

1 _{Unrealized (gains) losses arising from changes in fair value related to fair value changes in loans to private sector, derivatives, equity investments, debentures and notes.}

2 _{Unrealized (gains) losses arising from other changes relate to changes in accrual and amortizable fees of financial assets and liabilities.}

3 _{Movement is excluding foreign exchange results. Foreign exchange results are included in unrealized gains (losses) arising from foreign exchange rates.}

Banks and short term deposits

The balance as mentioned in the cash flow statement corresponds with the following items in the consolidated balance sheet:

Cash position maturity bucket < 3 months	June 30, 2023	June 30, 2022
Banks	61,013	59,060
Short term deposits measured at AC	915,364	811,014
Short term deposits measured at FVPL	577,485	619,445
-of which > 3 months	-333,292	-374,503
Banks and short term deposits < 3 months	1,220,570	1,115,016