BPCE - 2018 Registration document

FINANCIAL REPORT IFRS Consolidated Financial Statements of BPCE SA group as at December 31, 2018

The lines “Non-current assets held for sale” and “Liabilities associated with non-current assets held for sale” relate to the assets and liabilities of the BPCE International subsidiaries (see Notes 1.3 and 1.4) and the assets and liabilities of the subsidiary Banco Primus.

On July 19, 2017, Crédit Foncier signed a sale and purchase agreement setting out the terms of sale of its Portuguese subsidiary Banco Primus. The completion of the sale is subject to the approval of the Portuguese supervisory authorities. The deadline was initially set at March 31, 2018, but has been postponed to April 30, 2019.

Figures relating to the entities held for sale are shown below:

BPCE International subsidiaries

12/31/2018

Other

in millions of euros

Cash and amounts due from central banks Financial assets at fair value through profit or loss

564

564

1

1

Financial assets at fair value through other comprehensive income

159

159

Securities at amortized cost

26

26

Loans and receivables due from credit institutions and similar items at amortized cost

148

2

150

Loans and receivables due from customers at amortized cost

4,516

414

4,930

Current tax assets Deferred tax assets

11 86 76 14 90

2

13 97 89 14 90

11 13

Accrued income and other assets

Investment property

Property, plant and equipment

Intangible assets

7

7

Goodwill

27

27

Non-current assets held for sale

5,725

442

6,167

5

Debt securities

92

92

Amounts due to credit institutions and similar items

310

310

Amounts due to customers

4,346

4,346

Current tax liabilities Deferred tax liabilities

5

4

9

12

12

Accrued expenses and other liabilities

143

1 2

144

Provisions

56

58

Subordinated debt

4

4

LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE

4,968

7

4,975

At January 1, 2018, “Non-current assets held for sale” and “Liabilities associated with non-current assets held for sale” notably included the assets and liabilities of the subsidiary Banco Primus. Pursuant to IFRS 5, “Non-Current Assets Held for Sale and Discontinued Operations”, BPCE SA group: reclassified consolidated assets in separate asset items for ● € 457 million and liability items for € 19 million;

adjusted the value of the assets to the lowest of their book value ● and their fair value less costs relating to the sale, leading to a net expense of - € 17 million, recorded under “Gains or losses on other assets”. Other non-current assets and liabilities held for sale mainly concern the Natixis group.

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Registration document 2018