Constituting the largest source of banks’ revenues, interest income and provision income last year rose by approximately EUR 700 million and EUR 80 million, respectively.
After rising substantially in 2004, staff costs last year fell by EUR 400 million. Other administrative expenses, including items like restructuring costs, automation costs and the costs of major projects (e.g. Basel II), went up by nearly EUR 900 million.
Remarkably, taxes hardly increased, and the average tax burden last year decreased from 25% to 21% as a result. Lower third party interests translated into an additional contribution to the profit rise.