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A year-on-year comparison on the liabilities side gives a similar picture: interbank liabilities increased while most of the other items declined as a result of deconsolidation. Shareholders’ equity rose strongly. Deposits from customers were down by 11.3 %, debt certificates including bonds declined by 5.7 %. Primary funds, the combined total of the latter two items, amounted to € 80,316 m at the end of 2006, representing 52 % (2005: 58 %) of total liabilities and equity; the figure was 9.7 % lower than a year before and would have increased slightly, by 1.3 %, if the relevant items of Bank BPH had been included in the calculation.
Equity as defined in the IFRSs increased from € 7,520 m at the end of 2005 to € 10,140 m (7 % of total liabilities and equity) at the end of 2006. Most of the increase of € 2,620 m or 34.8 % in equity was due to the retention of consolidated profit, which was € 3,022 m, up by € 2,058 m on the previous year because of the improvement in the bank’s operating performance and, of course, also as a result of realised capital gains. Within equity, minority interests declined from € 650 m to € 213 m, also in connection with the sale of Bank BPH.