Consolidated profit and loss account

For the year ended 31 December 2018

(before profit appropriation)	Notes	Page number	IFRS 9 2018	IAS 39 2017

Income
Interest income from financial instruments measured at AC¹			286,881	294,038
Interest income from financial instruments measured at FVPL^1,2			37,996	-9,416
Interest expenses from financial instruments measured at AC¹			-100,231	-82,352
Interest expenses from financial instruments measured at FVPL¹			-23,742	-2,387
Net interest income	(19)	111	200,904	199,883
Fee and commission income			5,708	6,723
Fee and commission expense			-844	-712
Net fee and commission income	(20)	111	4,864	6,011
Dividend income	(21)	111	28,287	36,592
Results from equity investments and associates	(22)	112	40,947	154,571
Results from financial transactions	(23)	112	-22,239	16,103
Remuneration for services rendered	(24)	112	29,094	29,372
Other operating income	(25)	113	4,202	1,348
Total other income			80,291	237,986
Total income			286,059	443,880

Operating expenses
Staff costs	(26)	113	-79,291	-71,559
Other administrative expenses	(27)	113	-23,628	-23,909
Depreciation and impairment of fixed assets	(9)	104	-3,769	-3,154
Other operating expenses			-67	-48
Total operating expenses			-106,755	-98,670

Impairments on
Interest-bearing securities			-18	-
Loans³	(8)	102	-16,186	-18,110
Loan commitments	(29)	115	4,265	-
Equity investments and associates	(6), (7)	100, 101	-	-46,919
Guarantees issued³	(29)	115	308	3,042
Total impairments			-11,631	-61,987

Results on associates
Share in the result of associates	(7)	101	-1,802	9,293
Total result on associates			-1,802	9,293
Profit before taxation			165,871	292,516
Income tax	(28)	113	-14,738	-37,281
Net profit			151,133	255,235

Net profit attributable to
Owners of the parent company			150,821	254,117
Non controlling interest			312	1,118
Net profit			151,133	255,235

1 In accordance with updated IAS 1.82(a), effective from 2018, interest revenue calculated using the effective interest method (applicable for financial instruments measured at AC) has been presented separately. Comparative figures have been changed accordingly. The interest income as per December 2017 from interest-bearing securities that were classified as AFS under IAS 39 has been presented under 'interest income from financial instruments measured at AC'.
2 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'.
3 2017 amount is related to the IBNR on loans and guarantees issued and specific provisions on these loans and guarantees.