Income statement for the period January 1 to December 31, 2023

	(Note no.)	2023 € million	2022 € million
Net interest income	7	24,107	20,546
Interest income and current income and expense		38,399	24,045
Interest expense		–14,291	–3,499
Net fee and commission income	8	8,829	8,646
Fee and commission income		10,407	10,278
Fee and commission expenses		–1,578	–1,632
Gains and losses on trading activities	9	19	1,009
Gains and losses on investments	10	1,338	–6,774
Loss allowances	11	1,809	–1,472¹
Other gains and losses on valuation of financial instruments	12	227	–211
Other insurance gains and losses	13	2,418	2,522¹
Gains and losses on investments held by insurance companies and other insurance company gains and losses	14	2,982	–3,776¹
Insurance finance income or expenses	15	–4,107	1,951¹
Administrative expenses	16	–20,370	–19,078
Other net operating income	17	742	875
Profit before taxes		14,375	4,238
Income taxes	18	–3,571	–1,944¹
Net profit		10,805	2,294
Attributable to:
Shareholders of the Cooperative Financial Network		10,691	2,203¹
Non-controlling interests		114	91¹

¹ Amount restated