ANNUAL REPORT 2008 - DG Hyp

PROFIT AND LOSS ACCOUNT
FOR THE PERIOD FROM 1 JANUARY TO 31 DECEMBER 2008
2007
€ 000’s Note # € 000’s € 000’s € 000’s
Interest income from
a) Lending and money market transactions 2,227,730 2,437,958
b) Fixed-income securities and debt register claims 1,519,397 1,587,143
3,747,127 4,025,101
Interest expense 3,584,187 3,728,335
162,940 296,766
Current income from
equities and other non-fixed-income securities 62 79
Income from profit-pooling, profit transfer,
and partial profit transfer agreements 0 1,087
Commission income 28,356 20,242
Commission expenses 26,844 56,425
Net commission result 1,512 – 36,183
Other operating income
General administrative expenses
a) Personnel expenses
(26) 9,458 11,415
aa) Wages and salaries
ab) Compulsory social security contributions and
35,936 44,096
expenses for pensions and other employee benefits 10,769 11,822
46,705 55,918
of which: Pension expenses 6,122 (6,074)
b) Other administrative expenses 69,920 104,193
116,625 160,111
Amortisation/depreciation and write-downs of
intangible and tangible fixed assets 10,579 7,410
Other operating expenses (27) 2,607 1,547
Amortisation and write-downs of loans
and advances and specific securities,
as well as additions to loan loss provisions 87,318 131,113
Amortisation and write-downs on participations,
interests in affiliated companies,
and investment securities 85,463 58,475
Result from ordinary activities – 128,620 – 85,492
Extraordinary income (28) 223,000 237,000
Extraordinary expenses (29) 36,424 89,146
Net extraordinary income/expenses 186,576 147,854
Taxes on income
Other taxes not disclosed under
(30) 267 – 13,172
“Other operating expenses” 0 – 1
267 – 13,173
Profits transferred under
partial profit transfer agreements 57,689 75,535
Net income 0 0