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11.1 Accounting policy

Annual Report 2018 > RESULTS 2018 > Supplementary Information and Notes > 11. Revenue from commissions and fees > 11.1 Accounting policy
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Revenue from commissions and fees is generally recognized when the service is provided. Fees and commissions directly related to the origination of financial assets or liabilities (both income and costs) that are not an integral part of the effective interest rate are accounted for using the straight-line method. Other fees and commissions (that are not an integral part of the effective interest rate and are not accounted for by the straight-line method) related to financial services (e.g. cash management services, brokerage services, investment advisory services, financial planning, investment banking services and asset management services) are recognized in the profit and loss account when the service is provided.

Revenue from management of open-end pension funds and revenue and fees received from funds and mutual fund companies are recognized on an accrual basis.

 

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