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12.1 Accounting policy

Annual Report 2018 > RESULTS 2018 > Supplementary Information and Notes > 12. Net investment income > 12.1 Accounting policy
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Dividends are recognized as income when the right to dividend is acquired.

Interest income is recognized on an accrual basis based on the effective interest rate.   

12.1.1. Rules applicable as of 1 January 2018

Interest income comprises interest on financial instruments measured at amortized cost, at fair value through other comprehensive income and hedging derivatives.

The effective interest rate is the rate that discounts estimated future cash flows to the gross carrying amount of the financial asset.     

Interest income is calculated on the gross carrying amount, except for credit-impaired assets and purchased or originated credit- impaired (POCI) financial assets. For such assets, interest income is calculated on the gross carrying amount less allowances for expected credit losses.

12.1.2 Rules applicable until 31 December 2017

Interest income comprises interest on financial instruments measured at amortized cost, available for sale and hedging derivatives. Interest income also includes fees and commissions directly related to the creation of a financial instrument constituting an integral part of the effective interest rate.

The effective interest rate is the rate that discounts estimated future cash flows to the net carrying amount of the financial asset or financial liability. 

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