Main financial ratios1

 20162015
Personnel efficiency indexes [m euro]
Loans to customers / Number of employees 4.09 3.85
Operating income / Number of employees 0.19 0.19
Financial assets of customers2 / Number of employees 9.69 9.34
Capital ratios  
Shareholders' equity / Loans to customers 13.4% 13.8%
Shareholders' equity / Financial assets of customers2 5.7% 5.7%
Solvency coefficients  
Common equity tier 1 ratio (CET1) net of regulatory adjustments/risk-adjusted assets 12.7% 13.0%
Common equity tier 1 ratio (CET1) / risk-adjusted assets 13.9% 13.8%
Total own funds / Risk-adjusted assets 17.0% 16.6%
Income ratios  
Income for the year (attributable to the parent company) / Average shareholders' equity 6.4% 5.9%
Operating costs / operating income (Cost income Ratio) 51.2% 50.8%
Risk ratios 
Net non-performing loans to customers / Loans to customers 4.1% 4.3%
Value adjustments of non-performing loans /Gross non-performing loans out of loans to customers 60.6% 61.8%

1 Ratios calculated with reference to reclassified statements and figures published in the Intesa Sanpaolo Group's 2016 consolidated financial statements. The 2015 figures were restated where necessary to take into account changes in the scope of consolidation and ongoing disinvestment activities.

2 Customer financial assets: direct deposits from banking business, direct deposits from insurance business and technical reserves and indirect deposits, after netting, referred to components of indirect deposits which are also included in direct deposits.

Calculation and distribution of economic value

FINANCIAL STATEMENT ITEMS  [m euro] 
  2016 2015 2014
10. Interest income and similar 12,865 14,148 15,933
20. Interest expense and similar -4,250 -4,910 -6,116
40. Commission income 8,465 8,735 8,058
50. Commission expense1 -1,149 -1,049 -1,023
70. Dividends and similar income 461 378 315
80. Profits (Losses) on trading 527 285 210
90. Net profit(loss) from hedging -34 -68 -139
100. Profits (Losses) on disposal or repurchase of: 990 1,205 1,074
  a) loans -34 -44 86
  b) available-for-sale financial assets 990 1,452 1,271
  c) financial assets held to maturity 0 0 0
  d) financial liabilities 34 -203 -283
110. Profits (Losses) on financial assets and liabilities designated at fair value 1,051 977 971
130. Net losses /recoveries on impairment of: -3,288 -2,824 -4,314
  a) loans -3,026 -2,751 -4,102
  b) available-for-sale financial assets -314 -203 -187
  c) financial assets held to maturity 0 0 1
  d) other financial operations 52 130 -26
150. Net insurance premiums 8,433 12,418 16,600
160. Other net insurance income (expense) -10,508 -14,680 -18,805
220. Other operating expenses (income) 430 934 720
240. (partial) Profits (Losses) on investments in associates and companies subject to joint control (realised gains/losses)2 37 -1 326
270. Profits (Losses) on disposal of investments 356 103 114
310. Income (Loss) after tax from discontinued operations 987 -2 -48
A Total economic value generated 15,373 15,649 13,876
180.b (partial) Other administrative expenses (net of indirect taxes and donations and charges for resolution funds and deposit guarantee)3 -2,555 -2,676 -2,619
  ECONOMIC VALUE DISTRIBUTED TO SUPPLIERS -2,555 -2,676 -2,619
180.a Personnel expenses4 -6,075 -6,031 -5,836
  ECONOMIC VALUE DISTRIBUTED TO EMPLOYEES AND COLLABORATORS -6,075 -6,031 -5,836
330. Minority interests -89 -67 -59
  ECONOMIC VALUE DISTRIBUTED TO THIRD PARTIES -89 -67 -59
340. (partial)         Parent Company net income (loss) - Share allocated to Shareholders5 -2,999 -2,361 -1,185
340. (partial) Parent Company net income (loss) - Share allocated to holders of equity instruments6 -111 -20 0
  ECONOMIC VALUE DISTRIBUTED TO SHAREHOLDERS AND HOLDERS OF EQUITY INSTRUMENTS -3,110 -2,381 -1,185
180.b (partial) Other administrative expenses: indirect taxes -877 -919 -952
180.b (partial) Other administrative expenses: charges for resolution funds and deposit guarantee -578 -516 0
290. (partial) Income taxes for the year (current taxes)7 -818 -1,485 -1,509
  ECONOMIC VALUE DISTRIBUTED TO GOVERNMENT, ORGANISATIONS AND INSTITUTIONS -2,273 -2,920 -2,461
180.b (partial) Other administrative expenses: donations -1 -1 -3
340. (partial) Parent Company net income (loss) - Share allocated to charity funds8 -1 -11 -10
  ECONOMIC VALUE DISTRIBUTED TO THE COMMUNITY AND ENVIRONMENT -2 -12 -13
B Total economic value distributed 4,104 -14,087 -12,173
C Total economic value retained (withdrawn) by the corporate system* 1,269 1,562 1,703

1 The figures differ from those of the income statement in the Financial Statements as remuneration to the financial advisors networks was reclassified to “Personnel expenses”.

2 The figures differ from those of the income statement in the Financial Statements due to the exclusion of unrealised gains/losses, now recognised in a separate caption.

3 Data differ from figures in the income statement presented in the financial statements due to the exclusion of indirect duties and taxes and donations, levies and other expenses concerning the banking system, recognised under relative items.

4 Data differ from figures in the income statement presented in the financial statements as they include fees paid to financial advisor networks.

5 For 2016, the economic value distributed to shareholders partly refers to parent company reserves.

6 Interest accrued on coupons on additional tier 1 (AT1) equity instruments, directly recognised as shareholders' equity.

7 Data differ from figures in the income statement presented in the financial statements due to the exclusion of deferred taxes, recognised under relative items.

8 Data include portions assigned to charity funds by Group banks.

* Represented by value adjustments/reversals and provisions, deferred taxes and consolidated profit net of dividends distributed by the parent company.