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Notes to the Income Statement

HypoVereinsbank
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29. Net fees and commissions


HVB Group new 2006
€ millions 		2005
€ millions
Securities and custodial services 872 877
Foreign trade operations/money transfer operations 300 304
Lending operations 363 354
Other service operations 218 188
Total 1,753 1,723

This item comprises the balance of fee and commission income of €2,190 million (2005: €2,093 million) and fee and commission expense of €437 million (2005: €370 million). In terms of the year-on- year change in net fees and commissions, the profit contributions made by the sold Activest companies are only included in net fees and commissions for 2006 up to the middle of the year, which has a negative effect when compared to 2005. Adjusted for consolidation and currency effects, the rate of increase in net fees and commissions totalled 7.0%. In the process, net fees and commissions from the securities and depositary business rose by around 9% in adjusted terms.