ING Direct 2015 Annual Report Download - page 84

Contents
Who we are
Report of the
Management
Board
Corporate
Governance
Consolidated
annual accounts
Parent company
annual accounts
Other
information
Additional
information
Notes to the Consolidated annual accounts of ING Bank - continued
The nationalisation of SNS Reaal in 2013 had as a consequence, a one-time bank tax of EUR 1 billion to be paid by ING Bank and other
Dutch banks. In accordance with the relevant legislation, the bank tax was charged in three equal instalments. For ING, this resulted in
a charge of EUR 304 million in 2014. Also included in this line in 2014, was EUR 138 million (2013: EUR 149 million) related to the Dutch
bank tax.
For Addition/(releases) of provision for reorganisations and relocations reference is made to the disclosure on the reorganisation
provision in Note 19 ‘Other liabilities’.
Intangible amortisation and (reversals of) impairments
Impairment losses
Reversals of impairments
Total
2015
2014
2013
2015
2014
2013
2015
2014
2013
Property and equipment
17
43
30
–14
–5
–6
3
38
24
Property development
9
36
84
–6
9
36
78
Software and other intangible
assets
15 1 7 15 1 7
(Reversals of) other impairments
41
80
121
–14
–5
–12
27
75
109
Amortisation of other intangible
assets
6 13 27
33
88
136
In 2015, EUR 17 million (2014: EUR 43 million) impairments are recognised on Property and equipment in the segments Retail
Netherlands and Retail Other and amounts to EUR 15 million and EUR 2 million respectively. The impairments are attributable to
unfavourable market conditions.
In 2015, reversal of impairment on property in own use amounts to EUR –14 million (2014: EUR –5 million) and is recognised in Retail
Netherlands.
In 2015, EUR 9 million (2014: EUR 36 million) impairments are recognised on Property development in the Wholesale Banking segment
relating to real estate development projects and properties obtained from foreclosures, due to unfavourable market conditions.
Software and other intangible assets were impaired in 2015 for an amount of EUR 15 million. EUR 9 million is recognised in the
segment Retail Belgium, EUR 3 million in the segment Retail Other and EUR 3 million in the segment Wholesale Banking. The
impairment relates to internally developed software.
In 2013, EUR 78 million impairments are recognised on Property development (Wholesale Banking segment) relating to various real
estate development projects (especially Europe and Australia). The unfavourable economic circumstances in these regions and
projects resulted in lower expected sales prices.
Other
Included in Other operating expenses – Other in 2015, is a charge for a provision recognised in relation to floating interest rate
derivatives that were sold in the Netherlands. Reference is made to Note 19 ‘Other liabilities’ and Note 44 ‘Legal proceedings’.
Intangible amortisation and (reversals of) impairments
ING Bank Annual Report 2015 82