ING Direct 2004 Annual Report Download - page 81
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ING Group Annual Report 2004 79
LAND AND BUILDINGS BY INSURANCE AND BANKING OPERATIONS
Insurance Banking
operations operations Total
2004 2003 2004 2003 2004 2003
Land and buildings wholly or partially
in use by group companies 731 865 1,535 1,772 2,266 2,637
Other land and buildings 5,251 5,159 1,863 1,198 7,114 6,357
5,982 6,024 3,398 2,970 9,380 8,994
The balance sheet value as at 31 December 2004 included revaluations of EUR 1,290 million (2003: EUR 1,487 million). The cost
or purchase price amounted to EUR 8,090 million (2003: EUR 7,507 million).
APPRAISAL OF LAND AND BUILDINGS DURING THE LAST FIVE YEARS
in percentages
Years of appraisal
2004 70
2003 13
2002 2
2001 4
2000 11
100
SHARES AND CONVERTIBLE DEBENTURES BY INSURANCE AND BANKING OPERATIONS
Insurance Banking
operations operations Total
2004 2003 2004 2003 2004 2003
Listed 8,960 8,800 546 766 9,506 9,566
Unlisted 950 1,122 950 1,122
9,910 9,922 546 766 10,456 10,688
REVALUATION OF SHARES AND CONVERTIBLE DEBENTURES
2004 2003
Purchase price 9,416 9,769
Revaluation:
– Gross unrealised gains 2,041 2,243
– Gross unrealised losses 1,001 1,324
10,456 10,688
As at 31 December 2004, the balance sheet value included shares and convertible debentures which were lent or sold in
repurchase transactions amounting EUR 5 million (2003: EUR 5 million) and EUR 9 million (2003: nil), respectively.
Borrowed shares and convertible debentures are not recognised in the balance sheet and amounted EUR 12 million as at
31 December 2004 (2003: EUR 25 million).