Company profit and loss account

For the year ended 31 December 2019

(before profit appropriation)	Notes	2019	2018

Income
Interest income from financial instruments measured at AC		322,735	289,117
Interest income from financial instruments measured at FVPL¹		53,524	37,996
Interest expenses from financial instruments measured at AC		-136,724	-102,464
Interest expenses from financial instruments measured at FVPL		-24,283	-23,742
Net interest income		215,252	200,907
Fee and commission income		7,212	5,708
Fee and commission expense		-11,226	-844
Net fee and commission income	(21)	-4,014	4,864
Dividend income	(22)	29,553	28,251
Results from equity investments	(23)	64,553	38,997
Results from financial transactions	(24)	-19,990	-23,086
Remuneration for services rendered	(25)	28,502	28,048
Gains and losses due to recognition	(26)	3,916	14,980
Other operating income	(27)	1,695	589
Total other income		108,229	87,779
Total income		319,467	293,550

Operating expenses
Staff costs	(28)	-89,255	-78,385
Administrative expenses	(29)	-31,913	-23,516
Depreciation and impairment of fixed assets	(11), (12)	-7,809	-3,769
Other operating expenses		-164	-67
Total operating expenses		-129,141	-105,737

Impairments on
Interest-bearing securities	(4)	-5	-18
Loans	(6),(7)	-91,038	-27,553
Loan commitments	(31)	-1,849	4,265
Guarantees issued	(31)	964	308
Total impairments		-91,928	-22,998

Share in the result of subsidiaries		8,939	2,370
Share in the result of associates	(9)	11,077	-1,802
Total result on associates and subsidiaries		20,016	568
Profit before taxation		118,414	165,383
Income tax	(30)	1,949	-14,561
Net profit		120,363	150,821

1 Amount is related to interest from those derivative financial instruments that are associated with the 'loans to the private sector' and is therefore considered as 'interest income'.