AFD // 2021 Universal Registration Document

FINANCIAL INFORMATION Economic presentation of the consolidated financial statements

The contribution of the Group’s various companies to its net position excluding non-controlling interests is as follows:

Net position

2021 7,595

2020 5,984

Change

AFD

1,611

Proparco Socredo Soderag

356 114 -120

231 110 -122

126

4 2

Other subsidiaries GROUP TOTAL

-67

-77

11

7,877

6,125

1,752

“Regulatory” equity (1) amounted to €8,810M at 31 ɸ December 2021 compared to €7,910M at the end of ɸ 2020. Tier ɸ 1 capital amounted to €7,970M in 2021 (€6,154M in 2020), and Tier ɸ 2 capital amounted to €840M (€840M in 2020).

The dividend paid by AFD to the French State amounted to €21M in 2021, compared to €0M in 2020 and €29M in 2019 (distribution rate stable at 20%). Non-controlling interests (share of equity) are up amounting to €181M at 31 ɸ December 2021, compared with €155M at the end of ɸ 2020.

5.3.2 Consolidated income statement

2021

2020

Change

In millions of euros

Net banking income

948 473 333 140

764 444 313 131

184

Overheads

28 20

P Salary and employee benefit expense P Taxes and other general expenses

9

Provisions for depreciation/amortisation on intangible assets and property, plant and equipment

5

42

40

3

Total expenses on non-banking operations

515 433 -106

484 280 -269 -164

31

Gross operating income

153 162 125

Cost of risk

P Collective provisions

-39

P Individual impairments of non-sovereign loans

62

-37 -69

99

P Losses on bad loans

-130

-61

P Other provisions Operating income

1

1

0

327

12

316

Share of earnings from companies accounted for by the equity method

7

-6

13

Pre-tax income Corporate tax

334

5

328

-11

10 15 -25 40

-21

Net income

323

308

Non-controlling interests (-)

25

50

NET INCOME – GROUP SHARE

298

257

(1) Equity is calculated in compliance with EU Directive 2013/36/EU and Regulation (EU) No. ࣢ 575/2013.

119

2021 UNIVERSAL REGISTRATION DOCUMENT