EUR million 1 Jan−31 Dec 2018 1 Jan−31 Dec 2017
1 Interest income 724 617
2 Interest expenses -27 -50
3 NET INTEREST INCOME 697 567
4 Foreign exchange rate differences 11 41
5 Securities price differences -90 19
6 Valuation losses related to currencies and securities -31 -44
7 Change in foreign exchange rate and price difference provision 41 -16
NET RESULT OF FINANCIAL OPERATIONS, WRITE-DOWNS AND RISK PROVISIONS 628 567
8 Income and expenses on fees and commissions -4 -3
9 Net result of pooling of monetary income -242 -264
10 Provision against losses in monetary policy operations -2 -1
11 Share in ECB profit 5 4
12 Income from other equity shares and participating interests 25 22
CENTRAL BANKING PROFIT 410 325
13 Other income 35 30
Operating expenses -109 -97
14 Staff costs -48 -47
15 Pension fund contribution -10 −
16 Administrative expenses -38 -32
17 Depreciation of fixed assets -12 -11
18 Banknote production services -2 -6
19 Other expenses -0 -0
OPERATING PROFIT 335 258
Profit for the pension fund – –
20 Income of the pension fund 30 31
21 Expenses of the pension fund -30 -31
22 Changes in provisions -105 -102
23 PROFIT FOR THE FINANCIAL YEAR 230 156
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