ING Direct 2008 Annual Report Download - page 243
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Notes to the parent company balance sheet of ING Group
amounts in millions of euros, unless stated otherwise
1 INVESTMENTS IN WHOLLY OWNED SUBSIDIARIES
Investments in wholly owned subsidiaries
Balance sheet value
2008 2007
ING Bank N.V. 22,890 24,038
ING Verzekeringen N.V. 11,884 17, 90 0
Other –76 –74
34,698 41,864
Other includes certain intercompany eliminations between ING Bank N.V. and ING Verzekeringen N.V.
Changes in investments in wholly owned subsidiaries
2008 2007
Opening balance 41,864 42,607
Revaluations –13,709 –5,364
Result of the group companies –569 9,299
Capital contribution 12,720 2,227
Dividend –7,050 –5,900
33,256 42,869
Changes in ING Groep N.V. shares held by group companies 1,442 –1,005
Closing balance 34,698 41,864
2 OTHER ASSETS
Other assets
2008 2007
Receivables from group companies 13,322 10,591
Other receivables, prepayments and accruals 288 112
13,610 10,703
3 EQUITY
Equity
2008 2007
Share capital 495 534
Share premium 9,182 8,739
Non-voting equity securities 10,000
Share of associates reserve –8,719 6,053
Currency translation reserve –951 –950
Other reserves 17, 327 22,832
Equity 27,334 37, 20 8
The Share of associates reserve includes the following components: Reserve for non-distributable profit of associates of EUR 726 million
(2007: EUR 1,202 million) and Revaluation reserve of associates of EUR – 9,445 million (2007: EUR 4,851 million).
Share capital
Ordinary shares (par value EUR 0.24)
Number x1,000 Amount
2008 2007 2008 2007
Authorised share capital 4,500,000 3,000,000 1,080 720
Unissued share capital 2,436,852 773,555 585 186
Issued share capital 2,063,148 2,226,445 495 534
241
ING Group Annual Report 2008