Annual Report 2022
Interest expense
Breakdown of the interest expense
Interest on employee benefits-36-20
Interest on derivatives-315-253
Interest owed to banks-36-38
Interest on subordinated liabilities-51-44
Interest on borrowings-3-1
Other interest expenses-6-6
Total interest expense-447-362

Included within interest owed to banks is an amount of 24 million (2021: 31 million) relating to negative interest paid on cash and cash equivalents.