Consolidated Statement of Income
About this
Report
Chairman's
Foreword
Corporate
Management Report Appendices Governance
Consolidated Financial Company Financial
Statements Statements
Consolidated Statement of Income
For the year ended December 31
Amounts in millions of euros Note 2018 20171
Interest income from financial assets using the effective interest method2 36 15,960 16,275
Other interest income 36 321 296
Interest expense 36 7,722 7,728
Net interest income 36 8,559 8,843
Fee and commission income 37 2,106 2,101
Fee and commission expense 37 175 186
Net fee and commission income 37 1,931 1,915
Income from other operating activities 38 2,547 2,347
Expenses from other operating activities 38 1,964 1,825
Net income from other operating activities 38 583 522
Income from investments in associates and joint ventures 39 243 245
Gains/ (losses) arising from the derecognition of financial assets measured at amortised cost 14 n/a
Gains/(losses) on financial assets and liabilities at fair value through profit or loss 40 238 84
Gains/ (losses) on available-for-sale financial assets 13 n/a 158
Gains/ (losses) on financial assets at fair value through other comprehensive income 112 n/a
Other income 41 340 234
Income 12,020 12,001
Staff costs 42 4,278 4,472
Other administrative expenses 43 2,780 3,176
Depreciation and amortization 44 388 406
Operating expenses 7,446 8,054
Loan impairment charges 45 n/a (190)
Impairment charges on financial assets 45 190 n/a
Regulatory levies 46 478 505
Operating profit before tax 3,906 3,632
Income tax 47 902 958
Net profit for the year 3,004 2,674
Of which attributed to Rabobank 1,894 1,509
Of which attributed to Rabobank Certificates 484 484
Of which attributed to Capital Securities issued by Rabobank 530 586
Of which attributed to Capital Securities issued by subsidiaries 14 15
Of which attributed to Trust Preferred Securities IV 22 22
Of which attributed to other non-controlling interests 34 60 58
Net profit for the year 3,004 2,674
1 As reported under IAS 39
2 Presentation adjusted (see note 2.1)
Annual Report 2018 - Consolidated Financial Statements
124
