BIC - 2020 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Estimated fair value of shares granted and impact on the income statement

Plans’ unit fair value binomial model (in euros)

Expense/(income) booked in income statement (in thousand euros)

December 31, 2020

GRANT DATE

December 31, 2019

Feb. 10, 2015

111.49

(169)

-

May. 18, 2016

109.85

549

(360)

Feb. 10, 2017

109.05

619

169

May. 16, 2018

76.78

733

125

Feb, 12, 2019

81.14

354

306

Feb, 11, 2020

58.30

-

422

TOTAL

2,086

663

As of December 31, 2020, the total fair value of options and shares granted amounts to 5.4 million euros.

NOTE 24

FINANCIAL INSTRUMENTS

Accouting policies Financial assets and financial liabilities are recognized on the Group’s balance sheet when the Group becomes a party to the contractual provisions of the instrument. a) Trade receivables See Note 14. b) Investments In accordance with IFRS 9 “Financial Instruments”, investments are classified into one of the following three categories: financial assets at fair value through profit or loss; ● financial assets measured at amortised cost; ● financial assets measured at fair value through other comprehensive income. ● The classification determines the accounting treatment of these instruments. It is determined by the Group on the initial recognition date, based on the characteristics of the instrument and the management objective for which these assets were acquired. Purchases and sales of financial assets are recognized on the trade date, the date on which the Group is committed to buying or selling the asset. A financial asset is derecognized if the contractual rights to the cash flows associated with the financial asset expire or if the asset has been transferred. 1. Financial assets at fair value through profit or loss Financial assets recognized at fair value through profit or loss are mainly financial assets for which the contractual cash flows do not only correspond to principal repayments and interest payments on the outstanding principal. This category mainly includes UCITS and cash investments whose management and performance are based on fair value. Changes in the value of these assets are recorded in the consolidated income statement. The net gains and losses of assets measured at fair value through profit or loss correspond to interest income, dividends and changes in fair value. 2. Financial assets measured at amortized cost Financial assets are measured at amortized cost if their ownership is part of a business model aimed at receiving contractual cash flows corresponding solely to principal repayments and interest payments on the outstanding principal. These instruments are initially recognized at fair value, then at amortized cost calculated using the effective interest rate method. Provisions are recorded in the consolidated income statement. Net gains and losses on loans and receivables correspond to interest income and provisions.

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• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •