Financial results
Results (in millions of euros)
Loan portfolio
in billions of euros
24
Other
Consumer finance
Transportation
Car leasing
Technology finance
Health care
Construction industrial
Financial services
Office equipment
Food &agri
Loan portfolio by region
at year-end 2008
Europe
America
Asia/Pacific
59%
38%
3%
2004 2005 2006 2007 2008
Interest
Fees and commission
Other income
IotaI income
Staff costs
Other administrative expenses
Depreciation and amortisation
Operating expenses
Gross result
Value adjustments
Operating profit before taxation
laxation
Net profit
Impairment losses (in basis points)
Ratios
Efficiency ratio
RAROC
Balance sheet (in billions of euros)
Loan portfolio
Capital requirements (in billions of euros)
Capital requirement
Economiccapital
Number of employees (in FTEs)
2008
2007
Change
530
61
424.
1,015.
.377.
188
31
596
419
118
301
518.
52
425.
995
.369
193...
32.
594
401
100.
0%
2%
2%
-3%
-3%
0%
66
235
.301
6.7
234
18%
0%
1%
0%
64
61
58.7%59.7
22.3%24.2
31-Dec-08 31-Dec-07
23.3
20.7
13%
1.1
1.0
1.7
1.1
35%
4,667 4,411
Income up 2%
Total income increased by 2% to EUR 1,015 (995) million in 2008. Although the margin on new contracts
improved, the margin for the portfolio as a whole was lower. Interest income rose by 2% to EUR 530 (518)
million as a result of growth of the loan portfolio. Commission income was 17% higher, at EUR 61 (52)
million, due to higher brokerage commission income. The greater part of income from car leasing
activities is recognised under other income. Other income remains virtually stable, at EUR 424 (425) million.
47
Report of the Executive Board
