4. Net interest income
| Interest income | 12 months ended 31.12.2021 | 12 months ended 31.12.2020 (data restated) |
|---|---|---|
| Amounts due from banks | 9,147 | 6,438 |
| Loans and advances to customers measured at amortised cost, including: | 2,411,404 | 2,637,946 |
| non-banking financial institutions | 11,389 | 12,715 |
| retail customers | 1,239,713 | 1,279,498 |
| economic operators | 1,056,358 | 1,240,254 |
| including retail farmers | 285,509 | 354,127 |
| public sector institutions | 1,997 | 4,915 |
| leasing receivables | 101,947 | 100,564 |
| Loans and advances to customers measured at amortised cost through profit or loss | 9,969 | 20,161 |
| Debt instruments measured at amortised cost | 591,247 | 535,678 |
| Debt instruments measured at fair value through profit or loss | 4,640 | 4,311 |
| Debt instruments measured at fair value through other comprehensive income | 190,653 | 192,129 |
| Derivative instruments as part of fair value hedge accounting | 195,568 | 176,659 |
| Derivative instruments as part of cash flow hedge accounting | 7,912 | – |
| Securities purchased under repurchase agreements | 274 | 18 |
| Total interest income | 3,420,814 | 3,573,340 |
| Interest expense | 12 months ended 31.12.2021 | 12 months ended 31.12.2020 (data restated) |
|---|---|---|
| Amounts due to banks | (126,757) | (89,835) |
| Debt securities issued | (27,797) | (49,291) |
| Amounts due to customers, including: | (59,828) | (261,676) |
| non-banking financial institutions | (8,397) | (17,626) |
| retail customers | (34,019) | (179,273) |
| economic operators | (16,217) | (60,119) |
| including retail farmers | (109) | (1,429) |
| public sector institutions | (1,195) | (4,658) |
| Lease liabilities | (4,551) | (6,694) |
| Derivative instruments as part of fair value hedge accounting | (53,031) | (99,538) |
| Derivatives under cash flow hedge accounting | (2,267) | – |
| Securities sold subject to repurchase agreements | (1,056) | (6,236) |
| Other related to financial assets | (4,585) | – |
| Total interest expense | (279,872) | (513,270) |
| Net interest income | 3,140,942 | 3,060,070 |
The value of interest expenses calculated using the effective interest rate in relation to financial liabilities, which are measured at amortised cost, amounted to PLN 219,989 thousand (PLN 413,732 thousand for the period of 12 months ended 31 December 2020).
Interest income includes interest on financial assets assessed individually and collectively, for which impairment was identified. The amount of the above mentioned interest, which was recognised in the interest income for 2021, amounted to PLN 70,804 thousand, as compared to PLN 65,978 thousand for 2020.