Consolidated statement of income
For the year ended 31 December
in millions of euros 2012 2011
Interest income 21,702 21,299
Interest expense 12,605 12,125
Interest 9,097 9,174
Commission income 2,553 2,726
Commission expense 347 365
Fees and commission 2,206 2,361
Income from associates 255 (20)
Net income from financial assets and liabilities at fair value through profit or loss 823 657
Gains/(losses) on available-for-sale financial assets 114 (174)
Other income 957 708
Income 13,452 12,706
Staff costs 5,325 4,862
Other administrative expenses 2,979 2,850
Depreciation 527 540
Operating expenses 8,831 8,252
Value adjustments 2,350 1,606
Bank tax 196
Operating profit before taxation 2,075 2,848
Taxation 160 355
Net profit from continuing operations 1,915 2,493
Net profit from discontinued operations 197 134
Net profit 2,112 2,627
Of which attributable to Rabobank Nederland and local Rabobanks 897 1,549
Of which attributable to holders of Rabobank Member Certificates 328 315
Of which attributable to Capital Securities 717 612
Of which attributable to Trust Preferred Securities III to VI 75 73
Of which attributable to other non-controlling interests 95 78
Net profit for the year 2,112 2,627
108 Annual Report 2012 Rabobank Group
