Consolidated profit and loss account - Consolidated annual accounts

Consolidated profit and loss account of ING Group
for the years ended 31 December

amounts in millions of euros	2007	2007	2006	2006	2005	2005
Interest income banking operations	76,749		59,170		48,176
Income expense banking operations	–67,773		–49,978		–39,109
Interest result banking operations 34		8,976		9,192		9,067
Gross premium income 35		46,818		46,835		45,758
Investment income 36		13,352		10,907		10,434
Net gains/losses on disposal of group companies		430		1		390
Gross commission income	7,693		6,867		5,845
Commission expense	–2,866		–2,551		–2,098
Commission income 37		4,827		4,316		3,747
Valuation results on non-trading derivatives 38		–561		89		47
Net trading income 39		1,119		1,172		426
Share of profit from associates 6		740		638		541
Other income 40		885		471		710
Total income		76,586		73,621		71,120

Gross underwriting expenditure	51,818		53,065		54,594
Investment income for risk of policyholders	–1,079		–2,702		–5,074
Reinsurance recoveries	–1,906		–2,175		–2,400
Underwriting expenditure 41		48,833		48,188		47,120
Addition to loan loss provisions 5		125		103		88
Other impairments 42		–3		27		76
Staff expenses 43		8,261		7,918		7,646
Other interest expenses 44		1,102		1,016		969
Other operating expenses 45		7,225		6,429		6,327
Total expenses		65,543		63,681		62,226

Profit before tax		11,043		9,940		8,894

Taxation 46		1,535		1,907		1,379
Net profit (before minority interests)		9,508		8,033		7,515

Attributable to:
Shareholders of the parent		9,241		7,692		7,210
Minority interests		267		341		305
		9,508		8,033		7,515

amounts in euros	2007	2006	2005
Earnings per ordinary share attributable to shareholders of parent 47	4.32	3.57	3.32
Diluted earnings per ordinary share 47	4.28	3.53	3.32
Dividend per ordinary share 48	1.48	1.32	1.18

References relate to the Notes to the consolidated profit and loss account which form an integral part of the consolidated annual accounts.