ING Direct 2008 Annual Report Download - page 87

Consolidated profit and loss account of ING Group
for the years ended 31 December
amounts in millions of euros 2008 2008 2007 2007 2006 2006
Interest income banking operations 97,011 76,749 59,170
Interest expense banking operations –85,969 – 67,773 –49,978
Interest result banking operations 34 11,042 8,976 9,192
Gross premium income 35 43,812 46,818 46,835
Investment income 36 4,664 13,352 10,907
Net gains/losses on disposals of group companies 17 430 1
Gross commission income 7,504 7,693 6,867
Commission expense –2,539 –2,866 –2,551
Commission income 37 4,965 4,827 4,316
Valuation results on non-trading derivatives 38 2,300 –561 89
Net trading income 39 –749 1,119 1,172
Share of profit from associates 6–404 740 638
Other income 40 644 885 471
Total income 66,291 76,586 73,621
Gross underwriting expenditure 41 18,831 51,818 53,065
Investment result for risk of policyholders 32,408 –1,079 –2,702
Reinsurance recoveries –1,754 –1,906 –2,175
Underwriting expenditure 41 49,485 48,833 4 8,188
Addition to loan loss provisions 51,280 125 103
Intangible amortisation and other impairments 42 464 15 35
Staff expenses 43 8,764 8,261 7,918
Other interest expenses 44 978 1,102 1,016
Other operating expenses 45 6,807 7,207 6,421
Total expenses 67,778 65,543 63,681
Result before tax –1,487 11,0 43 9,940
Taxation 46 –721 1,535 1,907
Net result (before minority interests) –766 9,508 8,033
Attributable to:
Equityholders of the parent –729 9,241 7,692
Minority interests –37 267 341
–766 9,508 8,033
amounts in euros 2008 2007 2006
Basic earnings per ordinary share 47 –0.36 4.32 3.57
Earnings – after attribution to non-voting equity
securities – per ordinary share 47 –0.56 4.32 3.57
Diluted earnings per ordinary share 47 –0.36 4.28 3.53
Dividend per ordinary share 48 0.74 1.48 1.32
References relate to the notes starting on page 162. These form an integral part of the consolidated annual accounts.
85
ING Group Annual Report 2008