ING Direct 2013 Annual Report Download - page 169

Notes to the consolidated annual accounts of ING Group continued
34 OTHER INTEREST EXPENSES
Other interest expenses mainly consist of interest in connection with the insurance operations, including interest on the perpetual
subordinated loans.
In 2013, total interest income and total interest expense for items not valued at fair value through profit and loss were EUR 33,526 million
(2012: EUR 32,373 million; 2011: EUR 34,796 million) and EUR 18,658 million (2012: EUR 15,702 million; 2011: EUR 16,098 million)
respectively. Net interest income of EUR 14,429 million is presented in the following lines in the profit and loss account.
Total net interest income
2013 2012 2011
Interest result banking operations23 11,701 11,8 84 13,449
Investment income – insurance operations25 3,189 3,283 3,279
Other interest expenses –461 –464 –380
14,429 14,703 16,348
35 OTHER OPERATING EXPENSES
Other operating expenses
Banking operations Insurance operations Total
2013 2012 2011 2013 2012 2011 2013 2012 2011
Depreciation of property and
equipment 345 361 371 37 31 29 382 392 400
Amortisation of software 234 214 332 55 50 36 289 264 368
Computer costs 695 725 707 219 203 173 914 928 880
Office expenses 649 713 737 134 138 144 783 851 881
Travel and accommodation
expenses 146 157 120 17 23 35 163 180 155
Advertising and public relations 404 496 594 51 51 49 455 547 643
External advisory fees 223 255 332 116 172 198 339 427 530
Postal charges 79 80 82 93–1 88 83 81
Addition/(releases) of provision for
reorganisations and relocations 222 458 387 33 253 43 255 711 430
Other 763 1,257 736 181 309 389 944 1,566 1,125
3,760 4,716 4,398 852 1,233 1,095 4,612 5,949 5,493
Other operating expenses include lease and sublease payments in respect of operating leases of EUR 219 million (2012: EUR 245 million;
2011: EUR 150 million) in which ING Group is the lessee. No individual operating lease has terms and conditions that significantly affect the
amount, timing and certainty of the consolidated cash flows of the Group.
For Addition/(releases) of provision for reorganisations and relocations reference is made to the disclosure on the reorganisation provision
in Note 22 ‘Other liabilities’.
The External advisory fees include fees for audit services and non-audit services provided by the Group’s auditors.
In 2012, Other operating expenses – Other included the settlement with US authorities of EUR 473 million as disclosed in Note 54 ‘Legal
proceedings’ and the Netherlands bank tax of EUR 175 million.
Fees of Group’s auditors
2013 (1) 2012 (1) 2011 (1)
Audit fees 24 26 31
Audit related fees 28 7
Tax fees 24 4
All other fees 1 1
Total 28 39 43
(1) These figures excludes audit fees for entities presented as held for sale and discontinued operations. Total audit fees for 2013 amounted to EUR 36 million
(2012: EUR 52 million; 2011: EUR 51 million).
Fees as disclosed above relate to the network of the Group’s auditors and are the amounts related to the respective years, i.e. on an
accrual basis.
167ING Group Annual Report 2013
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