BIC - 2020 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

NOTE 26

OFF-BALANCE SHEET ITEMS

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.

26-1

Sureties, deposits and guarantees issued

None.

26-2

Sureties, deposits and guarantees received

Due

December 31, 2020

December 31, 2019

< 1 year

1 to 5 years

> 5 years

(in thousand euros)

Guarantees for credit lines

4,483

7,925

4,907

17,315

10,132

Trade guarantees

-

63

-

63

63

Operating lease guarantees

-

-

320

320

320

Sureties and deposits

346

20,489

112

20,947

633

Other guarantees and commitments

25

7,878

37

7,939

835

TOTAL

4,853

36,354

5,376

46,584

11,982

As of December 31, 2020, the guarantees for credit lines mainly related to the Group’s subsidiaries in Kenya, India, Turkey and South Korea for 15.2 million euros.

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.

26-3

Lease arrangements

December 31, 2020

December 31, 2019

(in thousand euros)

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

528

595

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

December 31, 2020

December 31, 2019

(in thousand euros)

Within one year

323

1,380

In the second to fifth years inclusive

10

1,106

Beyond five years

-

145

TOTAL

333

2,631

NOTE 27

CONTINGENT LIABILITIES

As of December 31, 2020, 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. •

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• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •