Consolidated statement of income
Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
Consolidated statement of income
For the year ended 31 December
in millions of euros Note 2015 2014
Interest income 32 17,593 18,638
Interest expense 32 8,454 9,520
Net interest income 32 9,139 9,118
Fee and commission income 33 2,077 2,075
Fee and commission expense 33 185 196
Net fee and commission income 33 1,892 1,879
Income from associates 34 366 145
Net income from financial assets and liabilities at fair value through profit or loss 35 603 219
Gains/(losses) on available-for-sale financial assets 12 148 418
Other results 36 866 1,110
Income 13,014 12,889
Staff costs 37 4,786 5,086
Other administrative expenses 38 2,916 2,532
Depreciation 39 443 437
Operating expenses 8,145 8,055
Impairment losses on goodwill 14 623 32
Loan impairment charges 40 1,033 2,633
Regulatory levies 41 344 488
Operating profit before taxation 2,869 1,681
Taxation 42 655 (161)
Net profit 2,214 1,842
Of which attributed to Rabobank and local Rabobanks 880 620
Of which attributed to holders of Rabobank Certificates 387 385
Of which attributed to Capital Securities 809 705
Ofwhich attributed toTrust Preferred Securities III to VI 63 74
Of which attributed toother non-controlling interests 31 75 58
Net profit for the year 2,214 1,842
174 Rabobank Annual Report 2015
