ING Direct 2009 Annual Report Download - page 121

Loans and advances to customers and Amounts due from banks include finance lease receivables, are detailed as follows:
Finance lease receivables
2009 2008
Maturities of gross investment in finance lease
receivables
– within 1 year 5,163 6,363
– more than 1 year but less than 5 years 9,739 9,766
– more than 5 years 6,041 4,836
20,943 20,965
Unearned future finance income on finance leases –3,783 –3,614
Net investment in finance leases 17,160 17,351
Maturities of net investment in finance lease
receivables
– within 1 year 4,365 5,157
– more than 1 year but less than 5 years 8,088 7,955
– more than 5 years 4,707 4,239
17,160 17, 351
Included in Amounts due from banks 64 100
Included in Loans and advances to customers 17,096 17,251
17,160 17, 351
The allowance for uncollectible finance lease receivables included in the loan loss provisions amounted to EUR 161 million as at
31 December 2009 (2008: EUR 88 million).
No individual finance lease receivable has terms and conditions that materially affect the amount, timing or certainty of the consolidated
cash flows of the Group.
Loan loss provisions analysed by type – banking operations
Netherlands International Total
2009 2008 2009 2008 2009 2008
Loans secured by public authorities 3 232
Loans secured by mortgages 290 167 1,066 425 1,356 592
Loans guaranteed by credit institutions 47 85 47 85
Personal lending 254 120 436 533 690 653
Mortgage backed securities 15 15
Other corporate loans 917 474 1,371 805 2,288 1,279
1,461 761 2,938 1,850 4,399 2,611
The closing balance is included in
– Amounts due from banks 46 85 46 85
– Loans and advances to customers 1,461 761 2,892 1,765 4,353 2,526
1,461 761 2,938 1,850 4,399 2,611
Changes in loan loss provisions
Banking operations Insurance operations Total
2009 2008 2009 2008 2009 2008
Opening balance 2,611 2,001 59 30 2,670 2,031
Changes in the composition of the group –3 2–3 –4 –6 –2
Write-offs –1,217 –728 –13 –6 –1,230 –734
Recoveries 148 91 12149 93
Increase in loan loss provisions 2,973 1,280 67 38 3,040 1,318
Exchange rate differences –47 –50 –1 –47 –51
Other changes –66 15 –66 15
Closing balance 4,399 2,611 111 59 4,510 2,670
Changes in loan loss provisions relating to insurance operations are presented under Investment income. Changes in the loan loss
provisions relating to banking operations are presented on the face of the profit and loss account.
2.1 Consolidated annual accounts
ING Group Annual Report 2009 119
Notes to the consolidated balance sheet of ING Group (continued)