ING Direct 2013 Annual Report Download - page 93

Consolidated profit and loss account of ING Group
for the years ended 31 December
amounts in millions of euros 2013 2013 2012 2012 2011 2011
Continuing operations
Interest income banking operations 51,394 60,003 64,649
Interest expense banking operations –39,693 – 4 8,119 –51,200
Interest result banking operations23 11,701 11,8 84 13,449
Gross premium income24 9,530 10,706 11,292
Investment income25 3,918 4,260 2,575
Result on disposals of group companies26 –18 1,604 801
Gross commission income 4,234 3,941 4,763
Commission expense –1,369 –1,258 –1,630
Commission income27 2,865 2,683 3,133
Valuation results on non-trading derivatives28 –2,687 –3,555 1,246
Net trading income29 670 1,662 210
Share of result from associates7114 54 216
Other income30 208 –398 1,225
Total income 26,301 28,900 34,147
Gross underwriting expenditure 13,585 15,867 13,444
Investment result for risk of policyholders –4,930 –5,517 –206
Reinsurance recoveries –70 –72 –79
Underwriting expenditure31 8,585 10,278 13,159
Addition to loan loss provisions62,289 2,125 1,670
Intangible amortisation and other impairments32 146 272 362
Staff expenses33 6,101 5,738 6,624
Other interest expenses34 461 464 380
Other operating expenses35 4,612 5,949 5,493
Total expenses 22,194 24,826 27,688
Result before tax from continuing operations 4,107 4,074 6,459
Taxation45 1,013 1,001 1,406
Net result from continuing operations 3,094 3,073 5,053
Discontinued operations36
Net result from discontinued operations 370 839 –180
Net result from classification as discontinued
operations –42 –394
Net result from disposal of discontinued operations 17 752 995
Total net result from discontinued operations 345 1,197 815
Net result from continuing and discontinued
operations (before minority interests) 3,439 4,270 5,868
Amounts for 2012 and 2011 have been restated to reflect the changes in accounting policies for defined benefit pension schemes as
disclosed in the section ‘Changes in accounting policies in 2013’ on page 98.
References relate to the notes starting on page 98. These form an integral part of the consolidated annual accounts.
91ING 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