Income statement for the period January 1 to December 31, 2021

	note	2021 € million	2020 € million
Net interest income	7.	18,232	18,272
Interest income and current income and expense		20,854	22,268¹
Interest expense		–2,622	–3,996¹
Net fee and commission income	8.	8,675	7,439
Fee and commission income		10,387	8,929
Fee and commission expenses		–1,712	–1,490
Gains and losses on trading activities	9.	339	868¹
Gains and losses on investments	10.	–152	7
Loss allowances	11.	337	–2,327
Other gains and losses on valuation of financial instruments	12.	190	–62¹
Premiums earned	13.	18,994	18,741
Gains and losses on investments held by insurance companies and other insurance company gains and losses	14.	5,233	2,007
Insurance benefit payments	15.	–20,356	–17,561
Insurance business operating expenses	16.	–2,578	–2,465
Administrative expenses	17.	–18,577	–18,036
Other net operating income	18.	186	333
Profit before taxes		10,522	7,216
Income taxes	19.	–3,017	–2,188¹
Net profit		7,505	5,027
Attributable to:
Shareholders of the Cooperative Financial Network		7,319	4,924^¹
Non-controlling interests		186	103¹

1 Amount adjusted.