BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Fair value valuation method The tables below set out the fair value method for valuing financial instruments, using the following three levels: level 1 (quoted prices in active markets): money market UCITS ● and other current financial assets; level 2 (observable inputs): derivatives – hedge accounting; ● level 3 (non-observable inputs): no such instruments are held as ● of December 31, 2019.

The valuation methods adopted for financial instruments are as follows: Financial instruments other than derivatives recorded in the ● balance sheet: The book values used are reasonable estimates of their market value except for marketable securities whose carrying values are determined based on the last known net asset values as of December 31, 2019. Derivative financial instruments: ● Market values are either those of the financial institutions or have been calculated by an external third-party on the basis of the last known closing prices as of 31 December 2019. They are consistent with the valuation reports provided by the financial institutions.

December 31, 2019

Category of instruments (in thousand euros)

Total

Level 1

Level 2

Level 3

At fair value through the income statement – Assets

68,234  

 68,234  

- 

- 

Derivative hedges – Assets

 2,918  

- 

 2,918  

- 

Derivative hedges – Liabilities

 7,514  

- 

 7,514  

- 

22-7

Net income impact by category of instruments

Net income related to the different categories of financial assets and liabilities are as follows:

At December 31, 2019

Breakdown by category of instruments

At fair value through the income statement

Derivative hedging instruments

Nature of impact (in thousand euros)

Receivables at amortized cost

Debts at amortized cost

At fair value through equity

Total

Interests income/(expense)

937  

 2,845  

 -  

 3,052  

(4,960) 

 -

Revaluation at fair value

 -  

-

 -  

-

-

-

Translation

(7,495) 

 -

 -  

 -

(7,495) 

 -

Net impairment

(2,646) 

 -

 -  

 -

(2,646) 

 -

TOTAL

( 9,204) 

 2,845  

 -  

 3,052  

(15,101) 

 -

At December 31, 2018

Breakdown by category of instruments

At fair value through the income statement

Derivative hedging instruments

Nature of impact (in thousand euros)

Receivables at amortized cost

Debts at amortized cost

At fair value through equity

Total

Interests income/(expense)

1,954

1,811

-

4,375

(4,232)

-

Revaluation at fair value

-

 -

-

- 

- 

-

Translation

16,640

-

-

-

16,640

-

Net impairment

(6,969)

-

-

-

(6,969)

-

TOTAL

11,625

1,811

-

4,375

5,439

-

225

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •