Profit and loss account

Profit and loss account for the year 2019
EUR
Year ending December 31, 2019
Year ending December 31, 2018
1.1 Interest income 1,751,425,377.41 1,782,588,295.39
1.2 Interest expense -1,069,973,655.46 -1,062,963,050.18
1 Net interest income 681,451,721.95 719,625,245.21
2.1 Realized gains/losses arising from financial operations -39,719,112.48 63,619,044.56
2.2 Writedowns on financial assets and positions -56,549,081.95 -195,695,340.12
2.3 Transfer to/from provisions for financial risks -150,000,000.00 -150,000,000.00
2 Net result of financial operations, writedowns and risk provisions -246,268,194.43 -282,076,295.56
3.1 Fees and commissions income 7,307,916.90 6,784,404.43
3.2 Fees and commissions expense -5,246,272.41 -4,620,659.88
3 Net income from fees and commissions 2,061,644.49 2,163,744.55
4 Income from equity shares and participating interests 88,329,245.22 98,635,205.52
5 Net result of pooling of monetary income 135,406,739.22 124,364,464.43
6 Other income 34,878,975.96 30,905,607.17
Total net income 695,860,132.41 693,617,971.32
7 Staff costs -155,976,725.50 -151,767,185.41
8 Expenses for retirement -98,569,716.92 -138,836,671.50
9 Administrative expenses -78,249,162.48 -80,930,315.79
10 Depreciation of tangible and intangible fixed assets -13,911,103.90 -15,842,357.44
11 Banknote production services -7,556,262.00 -15,226,014.00
12 Other expenses -13,722,433.36 -7,726,224.89
Total expenses -367,985,404.16 -410,328,769.03
Operating profit 327,874,728.25 283,289,202.29
13 Corporate income tax -65,302,015.40 -55,938,744.06
262,572,712.85 227,350,458.23
14 Transfer to the pension reserve and central government's share of profit -238,941,168.69 -206,888,916.99
15 Profit for the year 23,631,544.16 20,461,541.24

Following a reclassification, the 2018 values of profit and loss items 3.2 Fees and commissions expense, 3 Net income from fees and commissions and 9 Administrative expenses were adjusted.