FINANCIAL SERVICES SEGMENT PROFIT OR LOSS
| Three months ended 31 March | ||||
|---|---|---|---|---|
| (€m) | 2018 | 2017 | Increase/(decrease) | |
| Capital gains | 402 | 397 | 5 | 1.3% |
| Interest income | 361 | 366 | (5) | -1.4% |
| Collection of postal savings | 450 | 355 | 95 | 26.8% |
| Transaction banking | 226 | 238 | (12) | -5.0% |
| Distribution of third-party products | 58 | 83 | (25) | -30.1% |
| Asset management | 22 | 23 | (1) | -4.3% |
| Intersegment revenue | 261 | 258 | 3 | 1.2% |
| Total revenue | 1,780 | 1,720 | 60 | 3.5% |
| Personnel expenses | 22 | 31 | (9) | -29.0% |
| of which personnel expenses | 21 | 30 | (9) | -30.0% |
| of which early retirement incentives | 1 | 1 | - | n/s |
| Other operating costs | 81 | 90 | (9) | -10.0% |
| Depreciation, amortisation and impairments | - | - | - | n/s |
| Intersegment costs | 1,438 | 1,408 | 30 | 2.1% |
| Total Costs | 1,541 | 1,529 | 12 | 0.8% |
| EBIT | 239 | 191 | 48 | 25.1% |
| EBIT MARGIN | 13.4% | 11.1% | 2.3% | |
| Finance income/(costs) | 3 | 2 | 1 | 50.0% |
| Profit/(Loss) before tax | 242 | 193 | 49 | 25.4% |
| Income tax expense | 69 | 58 | 11 | 19.0% |
| Profit for the period | 173 | 135 | 38 | 28.1% |
n/s: not significantThree