BPCE - 2018 Registration document

5 FINANCIAL REPORT

BPCE parent company annual financial statements

BREAKDOWN OF ACTIVITY 5.12

Holding company activities

Fiscal year 2018

Fiscal year 2017

in millions of euros

Net banking income Operating expenses

494

384

(200)

(140)

Gross operating income

294

244

Cost of risk

(2)

(1)

Operating income

292

243 262 505

Gains or losses on long-term investments

(352)

Income before tax

(60)

Note 6

Other information

CONSOLIDATION 6.1 In reference to Article 4111-1 of ANC Regulation No. 2014-07, and in accordance with Article 1 of CRC Regulation No. 99-07, BPCE prepares its consolidated financial statements under international accounting standards. Individual company financial statements are incorporated into the consolidated financial statements of Groupe BPCE and BPCE SA group. AND COMMITMENTS Total remuneration paid in 2018 to members of the Management Board amounted to € 4.4 million and € 0.3 million was paid to members of the Supervisory Board. Provisions for retirement indemnities for fiscal year 2018 amounted to € 2 million for members of the Management Board. REMUNERATION, RECEIVABLES, LOANS 6.2

entered into an administrative assistance agreement with France for the exchange of information in connection with the fight against tax fraud and tax evasion. These obligations fit within the wider objectives of the worldwide fight against uncooperative tax havens, which were defined at OECD meetings and summits, and are also designed to combat money laundering and the financing of terrorism. Since its foundation, Groupe BPCE has adopted a prudent approach. It ensures that entities belonging to its networks are regularly informed about updates to the OECD list of territories that are considered as uncooperative as regards the effective exchange of information for tax purposes as well as about the potential consequences of maintaining operations in uncooperative territories. In addition, lists of non-cooperative territories have been integrated, in part, into software packages used in the fight against money laundering with the objective of ensuring appropriate due diligence for transactions with non-cooperative countries and territories (implementation of Ministerial Order No. 2009-874 of July 16, 2009). At the level of the central institution, an inventory of the Group’s locations and activities in uncooperative territories has been drawn up for the information of executive bodies. This statement is based on the list of countries named in the April 8, 2016 Ministerial Order, made in application of Article 238-0-A of the French General Tax Code. At December 31, 2018, BPCE had no offices or activities in uncooperative tax havens.

6.3

OPERATIONS IN NON-COOPERATIVE

COUNTRIES

The provisions of Article L. 511-45 of the French Monetary and Financial Code and the Order of October 6, 2009, issued by the French Economy Minister, require credit institutions to publish, as part of the notes to their annual financial statements, information on their presence and activities in countries and territories that have not

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Registration document 2018