ING Direct 2009 Annual Report Download - page 120

5 LOANS AND ADVANCES TO CUSTOMERS
Loans and advances to customers by banking and insurance operations
2009 2008
Banking operations 554,682 601,638
Insurance operations 29,060 25,681
583,742 627, 319
Eliminations –4,796 –7,528
578,946 619,791
Loans and advances to customers by type – banking operations
Netherlands International Total
2009 2008 2009 2008 2009 2008
Loans to, or guaranteed by, public authorities 28,149 16,288 22,933 10,099 51,082 26,387
Loans secured by mortgages 164,111 158,861 142,415 145,090 306,526 303,951
Loans guaranteed by credit institutions 468 295 9,761 5,606 10,229 5,901
Personal lending 4,972 7,158 14,988 23,110 19,960 30,268
Mortgage backed securities 17,814 9,055 17, 814 9,055
Corporate loans 48,767 126,772 104,657 101,830 153,424 228,602
246,467 309,374 312,568 294,790 559,035 604,164
Loan loss provisions –1,461 –761 –2,892 –1,765 –4,353 –2,526
245,006 308,613 309,676 293,025 554,682 601,638
Loans and advances to customers analysed by subordination – banking operations
2009 2008
Non-subordinated 554,267 601,434
Subordinated 415 204
554,682 601,638
During 2009, certain product features and internal procedures for current accounts were amended. As a result thereof, the balances on
these current accounts meet the criteria under IFRS for netting of positive and negative balances per client in the balance sheet. This
additional netting resulted in a decrease in Loans and advances to customers (banking operations) and a similar decrease in Customer
deposits and other funds on deposit of approximately EUR 73.9 billion.
Loans and advances to customers by type – insurance operations
Netherlands International Total
2009 2008 2009 2008 2009 2008
Policy loans 50 52 2,853 2,908 2,903 2,960
Loans secured by mortgages 6,700 6,804 7, 368 8,789 14,068 15,593
Unsecured loans 4,030 3,210 2,072 2,058 6,102 5,268
Mortgage backed securities 4,336 4,336
Other 427 309 1,335 1,610 1,762 1,919
15,543 10,375 13,628 15,365 29,171 25,740
Loan loss provisions –52 –27 –59 –32 –111 –59
15,491 10,348 13,569 15,333 29,060 25,681
As at 31 December 2009, Loans and advances to customers included receivables with regard to securities which have been acquired in
reverse repurchase transactions related to the banking operations amounting to EUR 2,409 million (2008: EUR 964 million).
No individual loan or advance has terms and conditions that materially affect the amount, timing or certainty of the consolidated cash
flows of the Group. For details on significant concentrations see ‘Risk management’ section.
2.1 Consolidated annual accounts
ING Group Annual Report 2009
118
Notes to the consolidated balance sheet of ING Group (continued)