Consolidated profit
and loss account
63 Rabobank Group Annual Report 2004
Annual figures
(in EUR millions)
2004
2003
Income
Interest income
18,773
17,794
Interest expense
12,524
11,838
Interest
6,249
5,956
Income from securities and participating interests
482
353
Commission income
2,458
2,146
Commission expense
346
294
Commission
2,112
1,852
Results on financial transactions
312
170
Other income
900
687
for 2004
Total income
10,055
9,018
Expenses
Staff costs
4,029
3,770
Other administrative expenses
2,335
2,101
Staff costs and other administrative expenses
6,364
5,871
Depreciation
368
372
Operating expenses
6,732
6,243
Value adjustments to receivables
525
575
Value adjustments to financial fixed assets
(11)
(148)
Total expenses
7,246
6,670
Operating profit before taxation
2,809
2,348
Taxation on operating profit
957
712
Operating profit/Group profit after taxation
1,852
1,636
Third-party interests
316
266
Net profit
1,536
1,370
