BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

NOTE 26

OFF-BALANCE SHEET ITEMS

26-1

Sureties, deposits and guarantees issued

The following schedule summarizes the sureties, deposits and guarantees for the Group. All significant items are disclosed in this table. No other pledge of assets or registered shares is to be reported.

None.

26-2

Sureties, deposits and guarantees received

Due

December 31, 2019

December 31, 2018

< 1 year

1 to 5 years

> 5 years

(in thousand euros)

Guarantees for credit lines

10,132

-

-

10,132

5,390

Trade guarantees

63

-

-

63

102

Operating lease guarantees

-

 -

320

320

812

Sureties and deposits

111

285

237

633

569

Other guarantees and commitments

800

-

 35

835

2,035

TOTAL

11,106

285

591

11,982 

8,908

As of December 31, 2019, the guarantees for credit lines mainly related to the Group’s subsidiaries in Turkey, South Korea and India for 9.8 million euros.

As of December 31, 2018, the guarantees for credit lines mainly related to the Group’s subsidiaries in Turkey, South Korea and Singapore for 5.1 million euros.

26-3

Lease arrangements

December 31, 2019

December 31, 2018

(in thousand euros)

Rentals under operating leases recognized as an expense in the year (do not fall within the scope of IFRS 16)

351

528

At the balance sheet date, the Group has outstanding commitments under leases exempted from IFRS 16, which fall due as follows:

December 31, 2019

December 31, 2018

(in thousand euros)

Within one year

583

323

In the second to fifth years inclusive

94

10

Beyond five years

-

-

TOTAL

677

333

NOTE 27

CONTINGENT LIABILITIES

As of December 31, 2019, neither SOCIÉTÉ BIC nor its subsidiaries was aware of any contingent liabilities. Contingent liabilities are , defined by IAS 37 as follows: possible obligations whose existence will be confirmed by ● uncertain future events that are not wholly within the control of the entity;

obligations that are not recognized because: ● settlement, involving an outflow representing economic • benefits, is not probable, or their amount cannot be measured reliably. •

236

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •