Notes to the statement of income 21 Net interest income 23 Income from equity interests 24 Staff costs 22 Net fee and commission income 25 Regulatory levies - Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3 in millions of euros 2016 2015 in millions of euros 2016 2015 Interest income Dividend income from shares 23 14 Cash and balances at central banks 183 94 Results from interests in group companies 2,025 646 Loans and advances to banks 573 2,292 Results from other equity investments (94) 118 Financial assets held for trading 45 71 Results from disposed interests 63 18 Financial assets designated at fair value 25 52 Total income from equity interests 2,017 796 Loans and advances to customers Available-for-sale financial assets Derivatives held as economic hedges Interest income on financial liabilities with a negative interest rate Other Total interest income Interest expense Due to banks Other trade liabilities Due to customers Debt securities in issue Other liabilities Financial liabilities designated at fair value Interest expense on financial assets with a negative interest rate Other Total interest expense Net interest income 11,340 1,040 1,607 77 41 14,931 421 10 4,409 3,250 720 362 258 4 9,434 5,497 2,221 1,230 2,835 16 1 8,812 494 17 3,095 3,532 597 466 71 8 8,280 532 in millions of euros 2016 2015 Wages and salaries 2,283 1,131 Social security contributions and insurance costs 243 99 Pension costs 429 182 Other staff costs 352 146 Total staff costs 3,307 1,558 The average number of internal and external employees was 26,838 (2015:15,758), of which 3,110 outside the Netherlands (2015: 3,155). Expressed in FTEs, the number of internal and external employees was 25,121 (2015:15,224). The regulatory levies consist of bank tax, contributions to the single resolution fund and the deposit guarantee scheme. Banks operating in the Netherlands on 1 October of the current year are required to pay bank tax. There are two rates of bank tax: A rate of 0.044% for current liabilities and a rate of 0.022% for long-term liabilities, based on the balance on December 2015. In 2016, Rabobank Group was charged a total of 138 (2015:68). In 2016, the bank levy in Ireland amounted to 4(2015:4). On 1 January 2016 the European Single Resolution Fund (SRF) was set up. This fund will for a large part replace the National Resolution Funds, including the Dutch National Resolution Fund (NRF) that was set up on the 27 November 2015. Both funds have been established to improve the effectiveness of resolution instruments. Banks and investment firms that are in the scope of the SRM-regulation are obliged to contribute to the SRF.The NRF is build up exclusively by lump-sum contributions. In 2016, the contribution to the Single Resolution in millions of euros 2016 2015 Fee and commission income Insurance commisions 257 Lending 559 231 Purchase and sale of other financial assets and handling fees 320 108 Payment services 704 107 Other commission income - group companies 42 19 Other commission income 45 51 Total fee and commission income 1,927 516 Fee and commission expense Purchase and sale of other financial assets 1 2 Payment services 20 30 Custodial fees and securities services 10 11 Handling fees 33 15 Other commission expense - group companies 23 114 Other commission expense 125 46 Total fee and commission expense 212 218 Net fee and commission income 1,715 298 289 Notes to the statement of income

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Jaarverslagen Rabobank | 2016 | | pagina 290