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(€ thousands)
| Determination and Distribution of Added Value | 2010 | 2009 1 | |
| 10 | Interest income and similar revenues | 28,641,891 | 34,745,987 |
| 20 | Interest expense and similar charges | (12,885,464) | (17,587,735) |
| 40 | Fee and commission income | 10,209,704 | 9,423,742 |
| 50 | Fee and commission expense (excluded external networks' expence) | (1,497,254) | (1,546,333) |
| 70 | Dividend income and similar revenue | 718,314 | 573,644 |
| 80 | Gains and losses on financial assets and liabilities held for trading | 343,169 | 1,282,864 |
| 90 | Fair value adjustments in hedge accounting | 52,139 | 23,761 |
| 100 | Gains and losses on disposal of: | 311,636 | 411,490 |
| a) loans | 7,340 | 81,483 | |
| b) available-for-sale financial assets | 120,238 | 194,845 | |
| c) held-to-maturity investments | (590) | 6,325 | |
| d) financial liabilities | 184,648 | 128,837 | |
| 110 | Gains and losses on financial assets/liabilities at fair value through profit or loss | (28,733) | (31,391) |
| 130 | Impairment losses on: | (7,006,651) | (8,933,716) |
| a) loans | (6,708,268) | (8,152,152) | |
| b) available-for-sale financial assets | (141,779) | (629,592) | |
| c) held-to-maturity investments | (2) | (6,497) | |
| d) other financial assets | (156,602) | (145,475) | |
| 150 | Premiums earned (net) | 118,176 | 87,352 |
| 160 | Other income (net) from insurance activities | (94,904) | (80,025) |
| 220 | Other net operating income | 952,019 | 841,143 |
| 240 | Profit (loss) of associates: gains or losses on disposal | 25,474 | 4,953 |
| 270 | Gains and losses on disposal of investments | 158,001 | 773,985 |
| 310 | Total profit or loss after tax from discontinued operations | - | - |
| A. | TOTAL ECONOMIC VALUE GENERATED | 20,017,517 | 19,989,721 |
| 180 b) | other administrative expense (excluded indirect taxes and duties, donations and expenses for external networks, such as agents and financial advisors) | (4,967,206) | (4,928,085) |
| ECONOMIC VALUE DISTRIBUTED TO SUPPLIERS | (4,967,206) | (4,928,085) | |
| 180 a) | staff expense (included external networks' expence) | (9,752,080) | (9,584,012) |
| ECONOMIC VALUE DISTRIBUTED TO EMPLOYEES AND SUPERVISED WORKERS | (9,752,080) | (9,584,012) | |
| 330 | Minority Interests | (321,226) | (332,295) |
| ECONOMIC VALUE DISTRIBUTED TO MINORITIES | (321,226) | (332,295) | |
| Net profit attributable to shareholders | (550,277) | (550,250) | |
| ECONOMIC VALUE DISTRIBUTED TO SHAREHOLDERS | (550,277) | (550,250) | |
| 180 b) | other administrative expense: indirect taxes and duties | (485,332) | (452,945) |
| 290 | Tax expense (income) related to profit or loss from continuing operations: current tax, adjustment to current tax of prior years, reduction of current tax for the year | (1,505,430) | (1,610,541) |
| ECONOMIC VALUE DISTRIBUTED TO PUBLIC BODIES & INSTITUTIONS | (1,990,762) | (2,063,486) | |
| 180 b) | other administrative expense: donations | (23,918) | (17,480) |
| Net profit allocated to the charitable funds | (8,733) | (10,100) | |
| ECONOMIC VALUE DISTRIBUTED TO COMMUNITY and environment | (32,651) | (27,580) | |
| B. | TOTAL ECONOMIC VALUE DISTRIBUITED | (17,614,202) | (17,485,708) |
| C. | TOTAL ECONOMIC VALUE RETAINED | (2,403,315) | (2,504,013) |
- Following the recent merger – which entailed the absorption of certain placement entities by the issuer – the result arising from the placement of securities issued by UniCredit S.p.A. recognised by the former in 2009 has been reclassified from fees and commissions income to interest expense.
