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Financial assets at fair value through other comprehensive income
6 Months Ended
Jun. 30, 2022
Financial assets at fair value through other comprehensive income [Abstract]  
Financial assets at fair value through other comprehensive income
3
 
Financial assets at fair value through other comprehensive income
Financial assets at fair value through other comprehensive income by type
in EUR million
30
June
2022
31
December
2021
Equity securities
 
2,065
2,457
Debt securities
1
27,876
27,340
Loans and advances
1
805
838
30,745
30,635
1 Debt securities include an amount of EUR -
39
 
million (31 December 2021: EUR -
12
 
million)
 
and the Loans and advances includes EUR -
1
million (31 December 2021: EUR -
1
 
million) of Loan loss provisions.
Exposure to equity securities
Equity securities designated as at fair value through other comprehensive
 
income
Carrying
value
Carrying
value
Dividend
income
Dividend
income
in EUR million
30
June
2022
31
December
2021
30
June
2022
30
June
2021
Investment in Bank of Beijing
1,796
1,700
Other Investments
268
757
27
15
2,065
2,457
27
15
As at
 
30 June 2022 ING holds approximately
13
% (31 December 2021:
13
%)
 
of the shares of Bank of Beijing, a
bank listed on the stock exchange of Shanghai. As per regulatory requirements
 
set by China Banking and
Insurance
 
Regulatory Commission, ING, as a shareholder holding more than
5
% or more of the shares, is
required to supply additional capital when necessary.
 
No request for additional capital was received in the first
six months of 2022 (2021: nil).
Changes in fair value through other comprehensive
 
income
The following table presents changes in financial assets at fair value
 
through other comprehensive income.
Changes in fair value through other comprehensive income financial assets
FVOCI equity securities
FVOCI debt instruments
1
Total
in EUR million
30
June
2022
31
December
2021
30
June
2022
31
December
2021
30
June
2022
31
December
2021
Opening balance
2,457
1,862
28,178
34,033
30,635
35,895
Additions
9
518
10,491
12,669
10,500
13,186
Amortisation
-10
-46
-10
-46
Transfers
 
and reclassifications
 
1
-7
0
1
-7
Changes in unrealised revaluations
2
32
-88
-2,210
-1,209
-2,178
-1,296
Impairments
-14
-5
-14
-5
Reversals of impairments
5
4
5
4
Disposals and redemptions
-490
-19
-8,148
-17,730
-8,638
-17,750
Exchange rate differences
56
191
388
460
444
651
Changes in the composition of the group and
other changes
-0
0
0
2
0
2
Closing balance
2,065
2,457
28,681
28,178
30,745
30,635
1 Fair value through other comprehensive income debt instruments includes both debt securities and loans and advances.
2 Changes in unrealized revaluations of FVOCI debt instruments include changes on hedged items which are recognized in the statement
of profit or loss. Reference is made to Note 10 ‘Equity’ for details on the changes in revaluation reserve.
 
FVOCI equity securities
In the first six months of 2022, disposals of EUR
490
 
million mainly relates to the sale of HQLA eligible equity
instruments triggered by the changing interest rate
 
environment and deteriorating market
 
sentiment. This
portfolio was built up in early 2021 (additions in 2021: EUR
518
 
million) and was a relatively small part of the
HQLA portfolio.
In the first six months of 2022, exchange rate
 
differences of EUR
56
 
million are related to the stake
 
in Bank of
Beijing following the appreciation of CNY vs EUR.
Changes in unrealised revaluations of equity securities mainly relate to revaluation
 
of the stake in Bank of
Beijing following a change in share price (EUR
40
 
million; 31 December 2021: EUR
-153
 
million).
 
FVOCI debt instruments
In the first six months of 2022, changes in unrealised revaluations of EUR
-2,210
 
million relates to increased
yield curves.