AFD - Universal Registration Document 2020

FINANCIAL INFORMATION Economic presentation of the consolidated financial statements

ASSETS The change in total assets is mainly due to the increase in net outstandings (+12%), the AFD Group’s cash position (+38%), as well as the derivative instruments portfolio (+18%). Net loans outstanding of AFD Group totalled €39,514M at 31 Ǿ December Ǿ 2020, i.e. 73% of the consolidated balance sheet, an increase of €4,120M (+12%) compared with the previous year. Gross outstanding loans stood at €40,290M, up €4,229M or (+12%) compared with Ǿ 2019.

The change in gross consolidated outstanding loans was mainly due to: P the increase in loans at the Group’s risk in the foreign country zone (+€3,885M); P an increase in outstanding loans in the French Overseas Departments and Collectivities (+€217M); P the increase in loans with risks borne by the French State (+€162M). At 31 Ǿ December Ǿ 2020, the adjustment to fair value of the loan portfolio for which the contractual flows do not meet SPPI characteristics under IFRS Ǿ 9 amounted to (-€15M).

2020

2019

Audit

%

Audit

%

In millions of euros

Loans at AFD Group’s risk

39,065 33,133 20,138 12,995

97% 82% 50% 32%

34,999 29,317 17,251 12,067

97% 81% 48% 33%

Of which Foreign countries

Sovereign

Non-sovereign

Of which French Overseas Departments and Ǿ Collectivities Of which other outstanding loans

5,799

14%

5,563

15%

133

0% 3% 3% 0%

118

0% 3% 3% 0%

Loans at the State’s risk

1,225 1,225

1,063 1,056

Loans guaranteed by the State Loans granted by the State

0

7

GROSS CONSOLIDATED OUTSTANDING LOANS

40,290

36,062

5

Outstanding loans at the Group’s risk (€39,065M, of which €33,152M for foreign countries and €5,799M for French Overseas Departments and Collectivities) resulted in impairments totalling €1,753M, or a coverage rate of 5%. Performing sovereign loans were covered for the amount of €919M at 31 Ǿ December Ǿ 2020, mainly by the reserve account, which represents a coverage rate of 4.4%. ❙ Summary of outstandings and impairments

Outstandings

Impairment

In millions of euros Foreign countries Sovereign of which doubtful Non-sovereign of which doubtful

20,138

919

8

0

12,995

739 380

964

French Overseas Departments and Collectivities Non-sovereign

5,799

94 94

of which doubtful

311 133

Other outstanding loans

TOTAL

39,065

1,753

of which doubtful

1,283

475

113

2020 UNIVERSAL REGISTRATION DOCUMENT