Management Report

Income Statement from 1 January to 31 December 2006

	2006	2005	+/-	+/-
	M €	€ M	€ M	%
Other operating income and expenses, net	7	98	-91	-93
Profit /(loss) from operating activities	309	283	26	9
Income taxes	-68	-32	-36	>100
Net income /(loss) for the period	241	251	-10	-4
Net interest income	242	222	20	9
Allocation to provision for loan losses	-2	-3	1	33
Share of the profit or loss from associates	47	36	11	31
Net commission income	528	420	108	26
Net trading income	151	102	49	48
Net income /(loss) from non-current financial assets	118	88	30	34
Administrative expenses	-782	-680	-102	15

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Balance Sheet as at 31 December 2006

	2006	2005	+/-	+/-
	M €	€ M	€ M	%
Cash	361	381	-20	-5
Assets held for trading	9,335	10,172	-837	-8
Positive fair values from hedge accounting	26	92	-66	-72
Financial assets designated at fair value through profit or loss (fair value option)	3,484	3,332	152	5
Loans and advances to banks	9,241	7,035	2,206	31
Loans and advances to customers	6,231	5,834	397	7
Allowances for loan losses	-159	-153	-6	4
Non-current financial assets	6,023	4,534	1,489	33
Property, plant and equipment	246	234	12	5
Other assets	559	568	-9	-2
Total assets	35,347	32,029	3,318	10
Liabilities held for trading	9,818	9,451	367	4
Negative fair values from hedge accounting	60	29	31	107
Deposits from banks	7,548	6,948	600	9
Deposits from customers	14,433	11,983	2,450	20
Debt securities issued	715	744	-29	-4
Provisions	109	235	-126	-54
Other liabilities	534	534	0	0
Subordinated capital	195	341	-146	-43
Equity	1,935	1,764	171	10
Total liabilities and equity	35,347	32,029	3,318	10

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