ING Direct 2011 Annual Report Download - page 129

Notes to the consolidated annual accounts of ING Group continued
Loan loss provisions analysed by type – banking operations
Netherlands International Total
2011 2010 2011 2010 2011 2010
Loans to, or guaranteed by, public authorities 1 2 333
Loans secured by mortgages 503 416 712 1,183 1,215 1,599
Loans guaranteed by credit institutions 41522 923
Personal lending 119 131 597 536 716 667
Asset backed securities 2 2
Corporate loans 1,375 1,384 1,630 1,519 3,005 2,903
Other
2,002 1,932 2,948 3,263 4,950 5,195
The closing balance is included in
– Amounts due from banks 7 21 721
– Loans and advances to customers 2,002 1,932 2,941 3,242 4,943 5,174
2,002 1,932 2,948 3,263 4,950 5,195
Changes in loan loss provisions
Banking operations Insurance operations Total
2011 2010 2011 2010 2011 2010
Opening balance 5,195 4,399 117 111 5,312 4,510
Changes in the composition of the group –3 –2 –5
Write-offs –1,304 –1,166 –24 –42 –1,328 –1,208
Recoveries 112 105 21114 106
Increase in loan loss provisions 1,670 1,751 33 41 1,703 1,792
Exchange rate differences –83 155 –2 6–85 161
Other changes –637 –49 –637 –49
Closing balance 4,950 5,195 124 117 5,074 5,312
The increase in loan loss provisions relating to insurance operations is presented under Investment income. The increase in the loan loss
provisions relating to banking operations is presented under Addition to loan loss provisions on the face of the profit and loss account.
In 2011, Other changes relates for EUR 565 million to the classification of ING Direct USA as a disposal group held for sale. Reference is
made to Note 11 ‘Assets and liabilities held for sale’.
1 Who we are 2 Report of the Executive Board 3 Corporate governance 4 Consolidated annual accounts 5 Parent company annual accounts 6 Other information 7 Additional information
127ING Group Annual Report 2011