ING Direct 2002 Annual Report Download - page 68

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Summary annual figures
NOTES TO THE CONSOLIDATED PROFIT AND LOSS ACCOUNT
amounts in millions of euros
OPERATIONAL RESULTS BY INSURANCE OPERATIONS AND BANKING OPERATIONS
INSURANCE OPERATIONS BANKING OPERATIONS ELIMINATIONS TOTAL
2002 2001 2002 2001 2002 2001 2002 2001
Premium income*52,284 50,460 52,284 50,460
Income from investments of the
insurance operations*10,926 10,336 73 74 10,853 10,262
Interest result from the banking operations*7,646 6,072 -56 -49 7,702 6,121
Commission 1,345 1,431 2,615 2,765 3,960 4,196
Other income*782 850 940 2,274 1,722 3,124
Total income*65,337 63,077 11,201 11,111 17 25 76,521 74,163
Underwriting expenditure 54,966 52,782 54,966 52,782
Other interest expenses 1,305 1,290 5 17 25 1,288 1,270
Salaries, pension and social security costs 2,765 2,732 4,787 5,064 7,552 7,796
Additions to the provision for loan losses 1,435 750 1,435 750
Other expenses 2,128 2,702 3,511 3,122 5,639 5,824
Total expenditure 61,164 59,506 9,733 8,941 17 25 70,880 68,422
Operational result before taxation*4,173 3,571 1,468 2,170 5,641 5,741
Taxation 723 688 333 477 1,056 1,165
Operational result after taxation 3,450 2,883 1,135 1,693 4,585 4,576
Third-party interests 92 73 240 251 332 324
Operational net profit for the period 3,358 2,810 895 1,442 4,253 4,252
The non-operational results can
be specified as follows:
Result on sale of investments in shares
regarding financing of acquisitions 280 325 280 325
Non-operational items before tax 280 325 280 325
Taxation on non-operational items 33
Non-operational net profit 247 325
Net profit for the period 4,500 4,577
* See notes starting on page 66.
Annual Report 2002 ยท ING Group 65