Underlying net profit, which excludes integration and separation-related expenses, was EUR 486 million in Q1 2012, compared with a profit of EUR 583 million in Q1 2011
– This decline was mainly the result of an increase in loan impairments and a slight decrease in revenues
– Reported net profit amounted to EUR 454 million for Q1 2012 compared with a profit of EUR 539 million in Q1 2011. In Q4 2011, the underlying net loss was EUR 23 million and the reported net loss was EUR 121 million
– The underlying cost/income ratio in Q1 2012 and Q1 2011 was 58%. Excluding one-off items the cost/income ratio would have been 60% in both quarters
– The remaining integration activities are on track and are expected to be finalised by year-end
– The Core Tier 1 ratio was 10.6%, the Tier 1 ratio was 12.9%, and the total capital ratio was 16.5% on 31 March 2012
