explanatory notes Receivables on account of active financing as well as debts on account of passive financing are valued at their nominal amounts. To cover the general risks on account of lending, a provision as referred to in article 23 of the Annual Accounts and Enterprises Act was formed, figuring under 'Payables and Transitory Items'. In the calculation of the results, the interest gains and charges just like the other gains and charges, are accounted for in the year to which they relate. The incidental gains (one time commission charged etc.) and costs (one time commission paid etc.) attendant upon active and passive financing, are accounted for in the profit and loss account of the year in which the money is invested or raised. The company income tax figuring in the profit and loss account has been calculated on the balance of this account with due observance of the components of profit exempted. The bases of valuation and fixation of profits and losses for the annual accounts of Friesch-Groningsche Hypotheekbank n.v. are equal to those applied to the consolidated annual accounts. The explanatory notes below only contain the figures of the consolidated annual accounts. For the names and registered offices of the majority participations, reference is made to the list deposited at the Register of Business Names in Amsterdam. To supplement the breakdown in the profit and loss account, this is the sub-division of the item 'general expenses': Salaries and social security charges Other costs Emoluments to supervisory directors 1975 8.999.000 3.060.000 44,000 12,103,000 1974 7.630.000 2.371.000 44,000 10,045,000 During the entire financial year, the number of supervisory directors was 6- none of the supervisory directors was unpaid. general consolidated profit and loss account

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Annual Reports FGH Bank | 1975 | | pagina 26