Income statement for the period January 1 to December 31, 2020

 

(Note no.) 2020 € million 2019 € million
Net interest income 2, 18,382 18,185
Interest income and current income and expense 22,401 23,951
Interest expense –4,019 –5,766
Net fee and commission income 3, 7,439 7,092
Fee and commission income 8,929 8,445
Fee and commission expenses –1,490 –1,353
Gains and losses on trading activities 4, 728 643
Gains and losses on investments 5, 7 961
Loss allowances 6., 7. –2,327 –832
Other gains and losses on valuation of financial instruments 8, –22 226
Premiums earned 9, 18,741 17,249
Gains and losses on investments held by insurance companies and other insurance company gains and losses 10, 2,007 6,113
Insurance benefit payments 11, –17,561 –19,340
Insurance business operating expenses 12, –2,465 –2,370
Administrative expenses 13, –18,036 –18,142
Other net operating income 14, 333 394
Profit before taxes 7,226 10,179
Income taxes 15, –2,192 –3,133
Net profit 5,034 7,046
Attributable to:
Shareholders of the Cooperative Financial Network
Non-controlling interests 4,930 6,876
Net interest income 104 170