| 2022 | 2021 |
---|---|---|
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.