ING Direct 2013 Annual Report Download - page 158

Notes to the consolidated annual accounts of ING Group continued
NOTES TO THE CONSOLIDATED PROFIT AND LOSS ACCOUNT
23 INTEREST RESULT BANKING OPERATIONS
Interest result banking operations
2013 2012 2011
Interest income on loans 21,570 24,798 26,415
Interest income on impaired loans 15 41 61
Total interest income on loans 21,585 24,839 26,476
Interest income on available-for-sale securities 2,070 2,507 3,463
Interest income on held-to-maturity securities 158 297 400
Interest income on trading portfolio 19,882 24,616 27,480
Interest income on non-trading derivatives
(no hedge accounting) 1,175 1,578 1,536
Interest income on non-trading derivatives
(hedge accounting) 6,675 6,297 5,652
Other interest income –151 –131 –358
Interest income banking operations 51,394 60,003 64,649
Interest expense on deposits by banks 440 623 902
Interest expense on customer deposits and other
funds on deposit 6,618 9,140 9,383
Interest expense on debt securities 3,197 3,822 3,435
Interest expense on subordinated loans 1,347 1,422 1,625
Interest expense on trading liabilities 19,369 24,048 27,209
Interest expense on non-trading derivatives
(no hedge accounting) 1,205 1,528 1,658
Interest expense on non-trading derivatives
(hedge accounting) 7,873 7,9 05 7,513
Other interest expense –356 –369 –525
Interest expense banking operations 39,693 4 8,119 51,200
Interest result banking operations 11,701 11, 88 4 13,449
Interest margin
in percentages 2013 2012 2011
Interest margin 1.41 1.30 1.41
In 2013, the decrease in total average assets, partly attributable to the disposal of ING Direct Canada and ING Direct UK, and the sale and
transfer of assets of WestlandUtrecht Bank to NN Group, leads to a decrease of EUR 1,070 million in the interest result. In addition, an
improvement of the interest margin of 11 basis points led to an EUR 888 million increase in the interest result.
In 2012, the decrease in total average assets, partly attributable to the disposal of ING Direct USA and ING Direct Canada, led to a
decrease of EUR 578 million in the interest result. In addition a decrease of 11 basis points of the interest margin led to a decrease in the
interest result of EUR 988 million.
In 2011, the growth in average total assets led to an increase of the interest result of EUR 135 million and the decrease of the interest
margin by 2 basis points led to a decrease of the interest result with EUR 139 million.
156 ING Group Annual Report 2013